Vancouver, BC, May 3, 2013, Eastfield Resources Ltd. ("Eastfield") (TSX-V: ETF) and joint venture partner Prophecy Coal Corporation ("Prophecy") (TSX-V: PCY) have filed a report detailing the 2012 program at the Okeover (OK) project, located northeast of the community of Powell River, for assessment requirements (Eastfield 40% and Prophecy 60%).
The OK property, which is situated approximately 150 kilometres northwest of the City of Vancouver, represents a prospective copper-molybdenum porphyry system located along the south coast of British Columbia. The 2012 program expanded on a program of geochemical and geophysical surveying initiated at Okeover in 2010 and furthered in 2011. It consisted of grid expansions and soil sampling to follow up on encouraging results including the 2011 delineation of a well-defined 2+ kilometre-long open-ended Induced Polarization anomaly and very strong soil geochemical results from 2010 which included copper values to 53,100 ppm (+5% Cu) and soil molybdenum values to 1,361 ppm (+0.13% Mo). The grid expansions completed in 2012 have outlined a new robust soil copper anomaly approximately one kilometre southwest of the North Lake Zone in an area well beyond the limits of the 2011 geophysical survey. In this area a number of soil samples exceed 400 ppm Cu up to 2,037 ppm and a number of soil samples exceed 50 ppm Mo up to 90.6 ppm.
The North Lake Zone is one of eight zones of copper-molybdenum mineralization so far discovered in a five kilometre-long interval on the Okeover property. It is the only zone with sufficient drilling to allow the calculation of an inferred mineral resource. A technical report authored by N.C. (Nick) Carter PhD, P.Eng. calculates an NI 43-101 compliant inferred mineral resource for the North Lake Zone of 86.8 million tonnes grading 0.31% copper and 0.014% MoS2 (at a 0.20% Cu cutoff). The North Lake Zone coincides with the 2010 IP anomaly occupying approximately 30% of the long dimension of this anomaly suggesting considerable potential for expansion (An interpretive figure has been posted at http://www.eastfieldresources.com/s/OK.asp).
Eastfield and Prophecy have not finalized a 2013 program but are encouraged by the recent results and will announce the next program later in the season.
J.W. (Bill) Morton P. Geo, president of Eastfield Resources Ltd. is the Qualified Person who takes responsibility for this news release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
About Eastfield Resources:
Eastfield Resources is a Canadian mineral exploration company focused on the discovery of large gold and copper deposits; it currently has projects in British Columbia and in Nevada. Current projects include a 100% interest in the Zymo copper-gold project in BC, a 100% interest in the Tonopah-Hughes gold-silver project in Nevada, a 100% interest in the Iron Lake-Hidden One copper, gold and PGE project in BC and a 100% interest in the Naggie base and precious metal project in BC. The company owns a 40% ownership in the Okeover copper-molybdenum project in BC, partnered with Prophecy Resource Corp. (TSX-V: PCY). The company owns the Indata copper-gold project in BC which is currently optioned to Oceanside Capital Corp. (TSX-V: OCC) who can earn up to a 60% interest. Eastfield has cash and marketable securities in excess of $2,000,000 and trades on the TSX Venture exchange under the symbol "ETF". For more information, please visit the company's website at www.eastfieldresources.com.