DRILLING AT OKEOVER INTERSECTS 0.34% COPPER AND 0.020% MoS2 OVER 76 METRES;
MINERALIZATION EXTENDED 350 METRES TO THE EAST - July 24th, 2007
Eastfield Resources Ltd. has now received results for the first four drill
holes of a seven-hole program recently completed by option partner Prophecy
Resource Corp. at the Okeover copper-molybdenum property located near Powell
River on the Southern British Columbia coast. The drill holes reported here
were designed to expand the current resources of the North Lake zone, where,
in late 2006, N.C. Carter, PhD, PEng, completed a technical report on the
Okeover property pursuant to National Instrument 43-101 that estimated an
inferred mineral resource of 86.8 million tonnes grading 0.31 per cent
copper (approximately 593,000,000 pounds) and 0.014 per cent MoS2
(approximately 15.9 million pounds of molybdenum). Prophecy can earn a
60-per-cent interest in the Okeover project from Eastfield Resources by
spending $1-million on exploration by 2010.
Hole OK-07-04, drilled near the western boundary of the North Lake zone,
intersected a total intercept of 76 metres grading 0.34 per cent copper and
0.020 per cent MoS2, including an intercept of 19 metres grading 0.42 per
cent copper and 0.027 per cent MoS2. Hole OK-07-04 was drilled adjacent to
and beneath a hole completed in 1972, with much of the mineralized interval,
including the higher-grade section, occurring beneath the 1972 hole, which
bottomed at a depth of 97 metres.
Hole OK-07-02, drilled 350 metres to the east of the area corresponding to
the North Lake resource, intersected 23 metres grading 0.24 per cent copper
and 0.031 per cent MoS2 at the bottom of the hole, establishing that
mineralization is very much open-ended to the east and suggesting that the
North Lake zone may be considerably larger than the 2006 estimate. Also of
note is an apparent increase in molybdenum grade to the east.
OK-07-03 is located approximately 50 metres to the east of the 2006 North
Lake zone resource area (north side). The interval from 73.7 metres to 74.5
metres returned 1.26 per cent copper and 0.639 per cent MoS2.
Holes OK-07-01 to 04 have confirmed that mineralization in the North Lake
zone has not been constrained by depth, and remains open on the eastern and
western edges, offering substantial opportunities for expansion of the
resource.
An additional drill permit has recently been received that will allow
Prophecy to drill additional sites in the fall, including drilling that will
target the South Breccia zone, where previous trenching included a 12-metre
trench intercept grading 2.4 per cent copper and 0.52 per cent MoS2. The
results for the final three holes are expected to be available in late
August. A more detailed summary of results of the first four holes can be
seen on our website at www.eastfieldresources.com.
J.W. (Bill) Morton, PGeo, a director of the company and qualified person
within the context of National Instrument 43-101, has read and takes
responsibility for this news release.
Contact: Paul Way, Business Development Manager: 604-681-7913 or B & D
Capital Partners: (604) 685-6465
About Eastfield Resources Ltd.
Eastfield Resources is part of The Eastfield Group. Since its inception in
1987, The Eastfield Group has utilized a successful business strategy that
involves securing third party exploration financing the majority of its
projects. This has allowed the company to minimize share dilution and risk,
while maximizing leverage. For more information visit the company's website
at www.EastfieldResources.com.
The TSX - Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release. This news
release may contain certain "Forward-Looking Statements" within the meaning
of Section 21E of the United States Securities Exchange Act of 1934, as
amended. All statements, other than statements of historical fact, included
herein are forward-looking statements that involve various risks and
uncertainties. There can be no assurance that such statements will prove to
be accurate, and actual results and future events could differ materially
from those anticipated in such statements. Important factors that could
cause actual results to differ materially from the Company's expectations
are disclosed in the Company's documents filed from time to time with the
TSX - Venture Exchange, the British Columbia Securities Commission and the
US Securities and Exchange Commission.
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