Vancouver, B.C., June 16, 2022, Eastfield Resources Ltd. (TSX-V: ETF) (US-OTC: ETFLF) (Frankfurt: 35E) (“Eastfield”) and Alpha Copper Corp. (TSX-V: ALCU) (“Alpha”) are pleased to announce that mobilization to the Indata project has commenced. Alpha has begun moving the drill rig and excavator to the project site to execute on its maiden 5,000-metre drilling campaign.
The Indata project encompasses 3,189 hectares (7,880 acres) and is located 230 kilometers northwest of the City of Prince George and immediately south of the Stardust-Kwanika Project owned by Northwest Copper Corp. The upcoming exploration program while predominantly diamond drilling will also include new grid work and excavator trenching.
Alpha Copper Corp. is planning to drill 5,000 m across all targets with the focus being on the Lake zone as it is the most advanced location with the most extensive exploration data to-date. Alongside the drill program, the company will undertake additional soil grid work and make use of the exploration opportunities the excavator will provide as it moves through the bush. The quarry zone target was exposed via excavator road construction in 2019 and uncovered a grab sample grading 3.65 per cent copper and 5.95 grams per tonne gold which is extremely favourable albeit selective in nature. The NW and SW copper targets are more directly related to carbonate replacement mineralized targets which closely resemble that of the Kwanika and Stardust deposits just 1.9 km to the north on Northwest Copper's ground. These two targets offer very interesting geophysical data which the company is extremely focused on developing into a complete dataset during this campaign.
Alpha Copper Corp. has an option to earn a 60% interest In the Indata Project from Eastfield Resources Ltd. by paying $400,000 (cash and/or shares) and completing $2,000,000 in exploration expenditures before June 20, 2023.
A quick review of copper targets as they currently exist is as follows:
Lake Zone: A 1,000-meter-long induced polarization anomaly with wide spread mineralized surface samples was expanded in size in 2019 but has not yet been drill tested. Results from the 2019 work include surface samples with 0.48% copper and 0.11 g/t gold. Two holes are planned for the northern region of the Lake Zone and three for the southern region. Holes will be drilled to a depth of approximately 500 meters versus a historical average of less than 150 meters (where drilling has occurred in the northern region of this zone).
NW Copper and SW Copper: A strong induced polarization anomaly has been defined in two areas predominantly underlain by limestone which share geochemical and geological attributes with the Stardust deposit located 18 kilometers north owned by Northwest Copper Corp. Initially one hole will be drilled in each target area which are approximately seven kilometers distant from each other.
Quarry Zone: Road construction completed by a logging company in 2019 exposed mineralization in altered andesite-diorite grading up to 3.64% copper and 5.95 g/t gold. While this result was select in nature it is significant. Limited excavator trenching completed in 2019 often did not reach bedrock. Further soil sampling and test pitting is planned.
Northeast Copper: In 2019 select sampling averaged 1.32% copper and 0.10 g/t gold in an area where in 1998 a Placer Dome geologist collected 17 grab samples averaging 0.95% copper and 0.08 g/t gold over an area of 400 meters by 250 meters (open). Select values sometimes exceeded 3.5% copper and 500 ppb gold. An optimistic explanation for this mineralization is that it may represent leakage from a deeper porphyry system. The ATV trail into this area, constructed in 2019, will be improved in 2022 to a drill trail to allow easier access.
This news release has been reviewed and approved by Mr. J.W. Morton, P. Geo., who is the Qualified Person within the context of NI 43-101 and takes responsibility for it.
J.W. Morton, P. Geo.
President and CEO
About Eastfield Resources:
Projects as follows:
Zymo: 8 km long copper-gold porphyry system with several 1 km scale targets, located 45 km west of Smithers, BC and 100% owned. Results include drill holes ZY08-07 with 0.72% copper and 0.66 g/t gold over 72 meters and hole ZY11-20 with 0.28% copper and 0.34 g/t gold over 126 m. Peripheral precious metal veins have returned up to 10.78 g/t gold. Work completed in 2021 included expansions to the induced polarization and soil grids at a cost of approximately $430,000. Zymo is fully permitted.
Iron Lake: copper-gold- palladium-platinum-cobalt, located 40 kilometers northeast of 100 Mile House, BC. The project is optioned to Tech-X Resources Inc. (a private company headed by Haig Farris). Targets include ultramafic copper-gold- palladium-platinum-cobalt and porphyry copper-gold. Tech-X may earn an 80% interest in Iron Lake by completing a total of $12,000,000 in work and paying a total of $1,000,000 in option payments by December 31, 2027. Work competed in 2021 included an airborne MobileMT survey flown by Expert Geophysics Limited and extensive geological reconnaissance and sampling later in 2021. Induced polarization surveying which started in January is currently in progress with drilling planned for later in 2022 (3,000 to 5,000 meters). Iron Lake is fully permitted.
Indata: copper-gold porphyry and precious metal quartz vein, located 120 km north of Fort St. James, BC, optioned to Alpha Copper Corp who may earn 60% by completing $2,000,000 in exploration and paying $450,000 (cash and/or shares) by June 20, 2023. A number of very prospective untested induced polarization targets exist and are fully permitted. Results from previous drilling include DDH88-11 with 47.26 g/t gold over 4 m and DDH98-4 with 0.20% copper over 148 m (including 0.37% copper over 24 m at the bottom of the hole). In 2019 new mineralization was exposed by logging activities in the southern region of the claims with select samples returning up to 3.64% copper and 5.95 g/t gold. The Kwanika and Stardust deposits, owned by Northwest Copper Corp., are located immediately north of Indata and share similar geology. A 3,000 meter drill contract has been signed with work scheduled to start in June 2022. Indata is fully permitted.
Hedgehog: copper-gold (VMS) and lode gold, located approximately 12 kilometers north of the community of Barkerville, BC. In 2021 option partner West Oak Gold Corp discovered several new anomalies. Particularly intriguing is a soil sample with 0.22% copper and 8.45% iron. Interest in this sample is inspired by previous float samples collected further south on the property including a massive sulfide boulder grading 24.3% copper and 19.6 g/t silver collected in 1999 and five additional copper rich massive sulfide boulders with an average grade of 8.0% copper and 8.9 g/t silver collected in 2000. In 2013, Eastfield discovered a new area of mineralization in the northern region of the claims where quartz veins hosted in sheared rhyolite returned grab samples to 1.51 g/t gold and 1.37% zinc. Other companies active in the area include Osisko Gold Royalties Ltd.) (TSX: OR) who are currently conducting a major exploration program for gold ten kilometers to the south in and around the former operating Barkerville Mine. The project is fully permitted.
CR: gold, located approximately 80 km northeast of the town of Quesnel, BC and 20 km north of the gold mining towns of Wells and Barkerville, was acquired by staking in 2014. There is no record of hard rock mineral exploration on the CR property prior to Noranda Exploration carrying out regional exploration in the area in 1986 with airborne magnetic and ground follow-up (ground based surveys and soil sampling) identifying a 1.2 kilometre by 0.7 kilometre arsenic in soil anomaly surrounding a local drainage named Arsenic Creek. In 2014, Eastfield carried out induced polarization and magnetic surveys in this area and outlined a 200 metre by 800 metre northwest trending chargeability high that remains open to the north. In 2018 soil sampling upslope of historical heavy mineral stream sediment anomalies exposed several gold and gold-arsenic anomalies that may indicate a source of the historical heavy mineral sampling in this direction. CR is permitted for drilling.
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For more information, please visit the company’s website at www.eastfieldresources.com.