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Monday, May 03, 2010
Eastfield Resources Announces the Return of the Zymo Copper-Gold Project
Vancouver, BC, May 3, 2010 - Eastfield Resources Ltd. "Eastfield" (TSX-V: ETF) has been notified that NGEx Resources Inc. (formerly Canadian Gold Hunter) has terminated its option to earn an interest in the 10,790 hectare Zymo copper-gold property 45 km by road west of Smithers, BC. Eastfield is currently planning the next program on this exciting project and expects to conduct a significant exploration program on the property this season. Eastfield has an option to earn a 100% interest, subject to an NSR, in the Zymo property from a private company.
Eastfield optioned the property in 2007 and completed a reconnaissance exploration program that same year that resulted in the discovery of a new copper-gold porphyry occurrence now named the Hobbes Zone. In 2008 an extensive exploration program of geochemical sampling, geophysical surveying, geological mapping and core drilling significantly expanded the property's potential. An IP chargeability anomaly associated with extensive rock alteration was outlined, extending for over 6.0 km (open ended) with widths of 2.0 to 3.0 km. Within this large area are four exploration targets now known as the FM (where Freeport McMoRan drilled six holes in 1999), Hobbes, RD and URC.
The Hobbes Zone is the most advanced to date and has been tested with nine drill holes. All holes intersected significant mineralization and have outlined an open ended mineralized zone that extends more than 600 m. The most westerly hole, ZY-09-16, intersected the longest interval of mineralization to date and indicates the potential for extensions to the west and south. Hole ZY-09-14 was a vertical hole drilled at the site of ZY-08-9 (72.0 m of 0.72% copper; 0.54 g/t gold) and ZY-09-10 (57.0 m of 0.43% copper; 0.32 g/t gold) and confirmed that mineralization continues to greater depths at this location where a mineralized interval of 273 m was intersected. Drill hole ZY-08-12, located 1.0 km southwest of the Hobbes Zone, intersected 99.00 m of 0.11% Cu and may indicate a significant potential for extending the zone in this direction (for more detail a table summarizing all of Eastfield's drilling results is attached and additional information including maps may be viewed on the website at www.eastfieldresources.com).
The URC target is 1.5 km west of the Hobbes Zone and is characterized by a 1.5 km long coincident copper-gold in soil anomaly. This target is beyond the end of the geophysical grid in an area with no outcrops; however, a sample of mineralized float was found in this area that returned 0.33% copper and 0.22 g/t gold. This untested target further expands the discovery potential for the property.
Eastfield is pleased to have the Zymo property returned with significant advancements and new targets and is very excited about the exploration potential of the project. Eastfield is currently developing plans for a program this season.
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 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 copper-gold project; a 100% interest in the Indata gold project; a 40% interest in the Okeover copper-molybdenum joint venture with 60% partner Prophecy Resource Corp. (TSX-V: PCY) and a 100% interest in the Tonopah gold project in Nevada. Projects optioned out include Crowsnest and Howell, optioned to MAX Resource Corp. (TSX-V: MXR); Kilometre 26, optioned to Oroandes Resource Corp. (TSX-V: OAR); and Iron Lake, optioned to Cobre Exploration Corp. (TSX-V: CKB-H). 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. 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.
Summary of 2008 and 2009 Zymo Drill Results:
|
HOLE ID |
AREA |
FROM (m) |
TO (m) |
Core Length (m) |
Cu (%) |
Au (g/t) |
| ZY-08-7 |
Hobbes |
3.05 |
252.98 eoh |
249.93 |
0.20 |
0.14 |
|
including |
|
116.00 |
182.00 |
66.00 |
0.33 |
0.20 |
| ZY-08-8 |
Hobbes |
3.05 |
237.74 eoh |
234.69 |
0.20 |
0.12 |
|
including |
|
51.00 |
111.00 |
60.00 |
0.39 |
0.26 |
| ZY-08-9 |
Hobbes |
3.05 |
256.02 |
252.97 |
0.32 |
0.23 |
|
including |
|
3.05 |
162.00 |
158.95 |
0.44 |
0.32 |
|
including |
|
15.00 |
87.00 |
72.00 |
0.72 |
0.54 |
| ZY-08-10 |
Hobbes |
3.05 |
162.00 |
158.95 |
0.31 |
0.21 |
|
including |
|
18.00 |
75.00 |
57.00 |
0.43 |
0.32 |
| ZY-08-11 |
Hobbes West |
6.10 |
153.00 |
146.90 |
0.16 |
0.10 |
| ZY-08-12 |
Hobbes |
51.00 |
150.00 |
99.00 |
0.11 |
0.05 |
|
ZY-09-13 |
Hobbes |
3.00 |
428.00 |
425.00 |
0.15 |
0.09 |
|
including |
|
255.00 |
381.00 |
126.00 |
0.20 |
0.15 |
|
ZY-09-14 |
Hobbes |
3.00 |
276.00 |
273.00 |
0.23 |
0.15 |
|
including |
|
9.00 |
108.00 |
99.00 |
0.36 |
0.25 |
|
including |
|
33.00 |
93.00 |
60.00 |
0.44 |
0.30 |
|
ZY-09-15 |
Hobbes |
33.00 |
441.00 |
408.00 |
0.21 |
0.11 |
|
including |
|
87.00 |
153.00 |
66.00 |
0.33 |
0.20 |
|
including |
|
297.00 |
318.00 |
21.00 |
0.31 |
0.18 |
|
ZY-09-16 |
Hobbes |
30.00 |
369.00 |
339.00 |
0.23 |
0.13 |
|
including |
|
139.00 |
330.00 |
171.00 |
0.31 |
0.18 |
|
including |
|
201.00 |
279.00 |
78.00 |
0.41 |
0.26 |
|
ZY-09-17 |
FM |
9.00 |
42.00 |
33.00 |
0.13 |
0.11 |
You can also view this News Release on our website at:
http://www.eastfieldresources.com/s/NewsReleases.asp?ReportID=397602 |