Thursday, December 08, 2011 Eastfield Resources Reports Zymo Drill Results
Vancouver, BC, December 8, 2011, Eastfield Resources Ltd. ("Eastfield") (TSX-V: ETF) is pleased to provide drill results from the 3,454-metre drill program completed on the Zymo Copper-Gold Project ("Zymo") in British Columbia. The 12,896 hectare property is 45 kilometres west of Smithers, British Columbia. Bearing Resources Ltd. ("Bearing") (TSX-V: BRZ) has the option to earn a 65% interest in the project from Eastfield Resources. Historical exploration, including drilling, has identified a large copper-gold porphyry system that includes four distinct porphyry targets (Hobbes, FM, URC and RD Zones) defined by coincident copper and gold soil anomalies contained within an open-ended nine kilometre by three kilometre induced polarization ("IP") chargeability geophysical anomaly.
Drilling intersected significant intervals of copper-gold mineralization in all holes drilled at Hobbes and FM. Highlights of the drilling include 126 metres of 0.54% Cu equivalent ("Cu eq.") (0.34% Cu, 0.28 g/t Au) in hole ZY11-20 starting from surface at Hobbes. The work program completed in 2011 included 3,454 metres of NQ Diamond drilling in 11 drill holes; seven holes at Hobbes, two holes at FM and two holes at URC. The RD Zone was not drill tested due to the short drilling season.
Robert Cameron, Vice President Business Development commented, "Work in 2011 encountered significant intervals of copper and gold and was successful in expanding Hobbes as well as discovering two new areas of mineralization at FM. Future work will continue to explore this promising property with a focus on continued expansion of Hobbes, initial drill testing of the RD and deep testing FM."
Drill results are presented in the table below. Drill intervals reported are core lengths and true widths are not known.
Table: 2011 Drill Hole Summary
Hole (total depth) |
From (m) |
To (m) |
Interval (m) |
Au (g/t) |
Cu (%) |
Cu eq. (%)* |
HOBBES ZONE |
ZY11-20 (354 m) |
3.0 |
174 |
171 |
0.24 |
0.29 |
0.46 |
incl. |
3.0 |
129 |
126 |
0.28 |
0.34 |
0.54 |
ZY11-21 (342 m) |
3.0 |
165 |
162 |
0.15 |
0.18 |
0.29 |
ZY11-22 (347 m) |
11.0 |
47 |
36 |
0.34 |
0.43 |
0.67 |
and |
191.0 |
281 |
90.0 |
0.08 |
0.16 |
0.22 |
ZY11-23 (351 m) |
6.0 |
315 |
309 |
0.13 |
0.21 |
0.30 |
incl. |
6.0 |
201 |
195 |
0.18 |
0.29 |
0.41 |
ZY11-26 (348 m) |
180 |
255 |
75.0 |
0.20 |
0.29 |
0.43 |
ZY11-27 (366 m) |
33 |
156 |
123 |
0.15 |
0.21 |
0.31 |
and |
183 |
255 |
72 |
0.11 |
0.19 |
0.27 |
ZY11-28 (364 m) |
123 |
228 |
105 |
0.14 |
0.20 |
0.27 |
incl. |
150 |
180 |
30 |
0.19 |
0.30 |
0.30 |
FM ZONE |
ZY11-18 (345 m) |
15.0 |
159 |
144 |
0.15 |
0.22 |
0.32 |
incl. |
15.0 |
93 |
78 |
0.20 |
0.26 |
0.40 |
ZY11-19 (356.5 m) |
3.0 |
356.5 |
353.5 |
0.08 |
0.11 |
0.16 |
incl. |
3.0 |
98 |
95 |
0.09 |
0.13 |
0.19 |
URC ZONE |
ZY11-24 (345 m) |
no sig. results |
ZY11-25 (n/a) |
lost in overburden | *Copper equivalent calculations do not take into account metallurgical recoveries and are based on in-ground metal using metal prices of US$1,200/ounce for gold and US$2.50/pound for copper.
Hobbes Zone
Hobbes is the most advanced target with ten historic (2008-2009) drill holes intersecting copper/gold mineralization including ZY08-09, drilled in 2008, and which returned 72 metres (core length) of 1.11% Cu eq. (0.72% Cu and 0.54 g/t Au). Drilling in 2011 focused on step-out drilling to the north, east and west of the prior drilling and was successful in extending mineralization approximately 75 metres to the north, 100 metres to the east and 80 metres to the west. The mineralization remains open to depth and to the west, east and south. Mineralization covers an area defined by drilling of 720 metres by 350 metres with the deepest intersection extending to 300 metres.
Mineralization is hosted by diorite porphyry characterized by well-developed quartz-vein stockwork with magnetite and to a lesser degree late-mineral granodiorite dykes. Adjacent and interleaved sediments have been metamorphosed into hornfels and skarns, and host significant mineralization.
FM Zone
FM is four kilometres east of the Hobbes zone and has been tested by seven historical wide-spaced drill holes that encountered mostly barren to low grade phyllic-altered intrusive and intrusive breccias associated with magnetic lows. In 2011, the Company drill-tested two new areas that targeted magnetic high anomalies and associated gold and copper soil geochemistry. Drilling was successful in identifying two new areas of copper-gold mineralization. Hole ZY11-18 tested the original discovery outcrop and returned 144 metres of 0.32% Cu eq. starting at 15 metres before passing into anhydrite-veined diorite breccia. Hole ZY11-19 located 770 metres south of hole ZY11-18 intersected a long low grade interval of 353.5 metres grading 0.16% Cu eq. within diorite and diorite breccia. Both areas are open to expansion and suggest additional potential at other undrilled magnetic highs within the FM zone.
URC Zone
At URC, located 1.5 kilometres southwest of Hobbes drill hole ZY11-24 intercepted unaltered sediments. The large 200 metre by 1,500 metre copper and gold soil anomaly and coincident geophysical anomalies (magnetic high and IP high) at URC are unexplained and the URC target remains largely untested. A second hole collared on the target was lost in overburden.
Discussion
Results of the 2011 exploration program at Zymo were successful in expanding Hobbes by 180 metres in length and defining its northern limit. The zone remains open in all other directions and at depth. Hobbes remains the priority target for future work as the Company outlines a near-surface copper-gold deposit. Other targets on the large property continue to advance including new areas discovered at FM. Successful drilling at FM points to a large high-level porphyry system demonstrated by anhydrite bearing diorite intrusive and hydrothermal breccias. Future work at FM will include offset drilling of mineralization encountered in 2011 as well as testing the target at depth. Other targets to be tested at Zymo include URC and RD.
QA/QC
Drill core was sampled in three-metre intervals and cut with a Diamond saw with one-half of the core placed in sealed plastic bags and delivered to Acme Analytical Laboratories Inc. ("Acme") in Smithers for crushing and pulverizing. Sample pulps were then analysed by Acme in their Vancouver lab following aqua regia digestion by ICP-MS. As part of the company's QA/QC (quality assurance/quality control) procedures, internationally recognized standards and blanks were inserted into the sample batches. ACME is an ISO 9001-registered laboratory and has a quality control program in place which includes the insertion of standard, blank and duplicate samples, as well as conducting repeat analyses.
Field work and project management was under the direct supervision of Bruce Laird, P. Geo. G.L. Garratt, P.Geo., who is a qualified person within the context of National Instrument 43-101, has read and takes responsibility for this news release.
Glen Garratt, P.Geo. Director, Eastfield Resources Ltd.
Contact: Paul Way, Business Development Manager (604) 681-7913 or Toll Free: 888-656-6611
About Eastfield Resources:
Eastfield is a Canadian mineral exploration company focused on the discovery of large gold and copper deposits; it currently has six projects in British Columbia and one in Nevada. Current projects include a 40% ownership in the Okeover copper-molybdenum project with 60% partner Prophecy Resource Corp. (TSX-V: PCY) and a 100% interest in the Tonopah gold project in Nevada. Projects currently optioned out include Zymo, optioned to Bearing Resources Ltd. (TSX-V: BRZ); Indata, optioned to Oceanside Capital Corp. (TSX-V: OCC); and Iron Lake, optioned to Calico Exploration Corp. (TSX-V: CKB). Eastfield holds 20,000,000 shares of Fort St. James Nickel (TSX-V: FTJ) which will be distributed to shareholders pro-rata in accordance with the number of common shares of Eastfield they hold. Eastfield trades on the TSX Venture exchange under the symbol "ETF". For more information, please 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.
You can also view this News Release on our website at: http://www.eastfieldresources.com/s/NewsReleases.asp?ReportID=495259 |