Eastfield Resource's Jajay-Lorraine Project Underway - July 16, 2007
Eastfield Resources Ltd. ("Eastfield") (TSX-V: ETF) is pleased to announce
the start of the 2007 exploration program at the Jajay-Lorraine Project,
which is being run by Teck Cominco Limited ("Teck Cominco") who holds the
property under option. Jajay-Lorraine is a large property located in the
Omineca region approximately 250 kilometres northwest of Prince George,
British Columbia. A crew has nearly finished setting up camp and additional
crews are due to arrive this week to begin a large, focused target
identification program on the property.
Teck Cominco has informed the company that it will be carrying out a
large-scale target development program on the property with a view to tying
several smaller survey areas together to create a more unified data set for
deeper-looking target definition.
An Induced Polarization (IP) geophysical survey will be completed over an
area of approximately 14 kilometres by five kilometres. The IP survey will
be capable of investigating to depths of up to 400 metres. Geologic mapping
(with a crew of four geologists), geochemical sampling and re-logging of
historical core will also be undertaken.
The most significant copper, gold and silver occurrences on the property all
occur within this survey area and include the Upper and Lower Main, Bishop,
Ekland, Slide, Boundary, Page and Copper Creek zones. These zones are all
alkalic intrusion related and belong to a deposit style that includes the
Galore Creek Deposit, which is now under development by Teck Cominco and
Nova Gold Resources (TSX: NG). Other significant alkalic deposits in British
Columbia include the Mt. Polley, Afton and Copper Mountain Mines.
Teck Cominco will also be undertaking a drilling program on the Slide Zone.
This zone was newly discovered in 2006 with intersections in two holes
located one kilometre apart, which returned 55.5 metres grading 0.72%
copper, 0.07 g/t gold, 5.5 g/t silver and 22.9 metres grading 0.64% copper,
0.15 g/t gold, 30.0 g/t silver. These drill intervals represent core sample
length and the true width of the zones has not been determined.
Teck Cominco is earning a 51% interest in the Jajay-Lorraine project by
spending $9 million by 2011, and may earn up to a 65% interest by completing
a feasibility study and arranging project financing. Teck Cominco has
incurred exploration expenditures of approximately $3.8 million to date.
G.L. Garratt, P.Geo., is the qualified person who has reviewed and takes
responsibility for this news release.
G. L. Garratt, P.Geo.
G. L. Garratt, P.Geo., Officer and Director
Eastfield Resources Ltd.
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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