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Friday, May 27, 2011
Eastfield Announces Commencement of Kilometre 26 Program, BC
Vancouver, BC, May 27, 2011, Eastfield Resources Ltd. "Eastfield" (TSX-V: ETF) is pleased to announce that work has commenced on the Kilometre 26 nickel-gold project located in central British Columbia, approximately 55 kilometres northwest of Fort St. James. The program, targeting bulk tonnage nickel mineralization, will include drilling targets that were defined by the 2010 geophysical surveys, geological surveying and rock sampling. Further geophysical surveying will be performed at another prospective area defined by a government electromagnetic geophysical survey completed in 2009. Permits to begin the work program have now been issued.
Grid establishment at the Kilometre 26 project started in 2009 and continued in 2010. During those years, 26 kilometres of geophysical survey were completed, 865 soil samples and 48 rock samples were collected and analyzed. Fifteen mineralized serpentinite rock samples examined using electron microscope techniques confirmed the presence of awaruite (a nickel alloy) and pentlandite (a nickel sulphide).
Work at Kilometre 26 during this year's program has resulted in the discovery of numerous mineralized boulders and subcrops containing serpentinite approximately 400 metres east of the nearest known mineralization. This new discovery was made while evaluating soil anomalies from the 2010 program. Three areas with serpentinite have now been identified.
The Kilometre 26 project now encompasses 9,819 hectares (24,263 acres). It is centred on a strong magnetic anomaly indicated on the Quest West helicopter-borne magnetic and electromagnetic survey flown for the British Columbia government (Geoscience BC) and published January, 2009. The magnetic anomaly is more than five kilometres in diameter, suggesting a large ultramafic body. The property is easily accessible by major industrial and logging roads, is bisected by a power line that forms part of the British Columbia power grid and is adjacent to a branch line of the Canadian National Railway.
Oroandes Resource Corp. (TSX-V: OAR) has the option to earn a 60% interest in Kilometre 26 from Eastfield by spending $1,575,000 on exploration, issuing 275,000 shares and making $107,500 in payments by September 25, 2013.
J.W. (Bill) Morton, PGeo, a qualified person for the purposes of National Instrument 43-101, has read and taken responsibility for this news release.
Bill Morton, P.Geo.
CEO and 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 seven projects in British Columbia and one in Nevada. Current projects include an option to earn a 100% interest in the Zymo gold-copper project; 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 Kilometre 26, optioned to Oroandes Resource Corp. (TSX-V: OAR); Indata, optioned to Oceanside Capital Corp. (TSX-V: OCC); Iron Lake, optioned to Calico Exploration Corp. (TSX-V: CKB). 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=459421 |