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Wednesday, January 07, 2009
Eastfield Intercepts 8.20 g/t Gold Over 0.3 m, 209.0 g/t Silver Over 0.5 m at Indata
Vancouver, BC, January 7, 2009 - Eastfield Resources Ltd. "Eastfield" (TSX-V: ETF) and MAX Resource Corp. "MAX" (TSX-V: MXR) have received the assays from five Diamond drill holes (1,035 metres) completed in October on the Indata property in northern B.C., located 120 km north of Fort St. James.
There are two exploration targets on the Indata property, a porphyry copper target and a structurally controlled precious metal vein target. The 2008 exploration program consisted of one drill hole (08-I-01) in the porphyry copper target and four holes (08-1-02 to 08-I-05) in the precious metal vein target.
The precious metal target was tested over a distance of 1,500 metres following the upslope trend of an arsenic soil geochemical anomaly believed to define a structural feature which has previously returned a number of gold-silver intercepts, including a 4.0 metre intercept grading 46.20 g/t gold from a 1988 drill program by Eastfield. A number of core samples from the recent drilling returned a number of narrow gold and/or silver intercepts with associated arsenic and bismuth values. Significant results are summarized as follows:
|
Hole |
From
(m) |
To
(m) |
Sample Length (m) |
Copper
% |
Gold
g/t |
Silver
g/t |
|
08-I-01 |
18.3 |
181.7 |
163.4 |
0.14 |
- |
- |
|
including |
123.0 |
150.0 |
27.0 |
0.27 |
- |
- |
|
08-I-02 |
76.5 |
76.8 |
0.3 |
0.18 |
8.20 |
4.4 |
|
08-I-03 |
36.7 |
38.3 |
1.6 |
0.14 |
0.42 |
79.9 |
|
including |
37.2 |
37.7 |
0.5 |
0.13 |
0.40 |
209.0 |
Mineralization being targeted at Indata is modeled after the prolific Motherlode deposits in California, where cumulative production has exceeded in excess of 100 million ounces of gold. A key assumption to the model is the occurrence of gold-silver mineralization along the Pinchi Fault trend in the Indata region of central BC being analogous to the Melones Fault in the Motherlode region of California. New exposures of precious metal mineralization which are located 800 to 2,000 metres further to the north were made in 2007 when excavator trenches exposed narrow veins which returned samples including 17.16 g/t gold and 9.84 g/t gold respectively. The 2007 vein material was again found to be highly anomalous in arsenic, bismuth, antimony, mercury, selenium and tellurium providing a signature for gold mineralization of this type. This area was not tested in the current program and a robust soil anomaly also discovered in 2007 remains to be tested as well.
MAX is currently reviewing the 2007 exploration data along with data from the 1988 Placer Dome funded exploration program with the objective of evaluating and determining the geologic controls for the mineralized system at Indata in order to define possible drill targets for the 2009 exploration season. MAX is very pleased with confirming high-grade values from historic exploration in drill hole 08-I-02 and will be modeling the work done in the eighties and nineties to better define the structurally controlled target. Examination of the 2007 exploration trenches will also help to understand the system and to locate exploration targets.
Analysis was performed by Acme Analytical Laboratories, a certified facility in Vancouver, BC, using multi-element (ICP-ES) techniques. Bruce Laird, P.Geo., Mincord Exploration Consultants Ltd., supervised the 2008 drilling program and sampling protocol. J.W. Morton, P.Geo., who is a qualified person within the context of National Instrument 43-101, has read and takes responsibility for this news release.
signed
J.W. Morton, P.Geo.
Officer and Director
Eastfield Resources Ltd.
Contact:
Paul Way, Business Development Manager
(604) 681-7913 or Toll Free: 888-656-6611
About Eastfield Resources:
Since its inception in 1987, Eastfield has utilized a successful business strategy that involves securing third party exploration financing on its projects. Eastfield has six projects located in British Columbia and one in Nevada. Currently optioned projects include Zymo, optioned to Canadian Gold Hunter (TSX: CGH); Okeover, optioned to Prophecy Resource Corp. (TSX-V: PCY); Indata and Howell, optioned to MAX Resource Corp. (TSX.V: MXR); and Iron Lake, optioned to Cobre Exploration Corp. (TSX-V: CXV-H). Lorraine Copper (TSX-V: LLC) and Cariboo Rose Resources (TSX-V: CRB) have their origins in Eastfield, demonstrating the success of the business model.
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.
You can also view this News Release on our website at:
http://www.eastfieldresources.com/s/NewsReleases.asp?ReportID=333435 |