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Eastfield Resources Ltd

Publié le 22 octobre 2012

Announces Drilling on the Zymo Copper-Gold Project, BC Hole ZY12-32 intersects 0.40% Cu-Eq in Hobbe

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Mots clés associés :   Copper | Precious Metals |

Monday, October 22, 2012
Eastfield Resources Announces Drilling on the Zymo Copper-Gold Project, BC Hole ZY12-32 intersects 0.40% Cu-Eq in Hobbes Zone

Vancouver, BC, October 22 2012 - Eastfield Resources Ltd. ("Eastfield") (TSX-V: ETF) is pleased to announce results for the 2012 drilling program at the Zymo Copper-Gold Project ("Zymo") in British Columbia located 45 km west of Smithers, British Columbia. Historical exploration, including surface sampling, geophysical testing and core drilling, has identified a large copper-gold porphyry system that includes four distinct porphyry targets (Hobbes, FM, URC and RD Zones). Overall the targets are defined by coincident copper and gold soil anomalies contained within a 9.0 km by 3.0 km induced polarization ("IP") chargeability anomaly which remains open to the southeast.

Seven drill holes were completed for a total of 2,322 m and tested three target areas: FM, RD and Hobbes. The program was designed to add information in each area with respect to the geometry and orientation of the mineralizing systems to assist future drilling as it is speculated that parts of the large alteration system have been dramatically rotated. A brief summary of the drilling, by target area, follows and a full table of results is attached:

FM Target: Hole ZY12-29 was located in the central FM target area and was planned to test the zone to depth. Hole 29 was lost at 27 m and hole ZY12-29B replaced it and intersected 144.0 m, from 114.0 m, grading 0.08 g/t gold and 0.16 g/t copper. The hole continued to 669 m where it ended in weakly altered intrusive, indicating that the mineralizing system is likely rotated such that the vertical drill hole cut across the system rather than down it. Further drilling will be required to determine the geometry of the mineralizing system in this area.

Hole ID Target From (m) To (m) Interval (m) Au (g/t) Cu (%) Ag (g/t) *CuEq (%)
ZY12-29 FM Lost at 27 m            
                 
ZY12-29B FM 114.0 258.0 144.0 0.08 0.16   0.22

RD Target: Two drill holes were completed on this target which is defined by an 800 m by 1,000 m copper-gold in soil anomaly. The soil geochemistry indicated that the area may be high in the mineralizing system and the drilling intersected long intervals of phyllic alteration and narrow intercepts of sulphide rich veins indicating this case. Hole ZY12-30 intersected two such intervals one of which returned 3.0 m, from 231.0 m, grading 0.99 g/t gold, 0.91% copper and 72.8 g/t silver. Further drilling will be required to determine the potential of this large target area.

Hole ID Target From (m) To (m) Interval (m) Au (g/t) Cu (%) Ag (g/t) CuEq (%)
ZY12-30 RD 177.0 180.0 3.0 0.22 0.19 47.9  
and   231.0 234.0 3.0 0.99 0.91 72.8  
                 
ZY12-31 RD No significant intercepts            

Hobbes Target: The Hobbes Zone has been shown by previous drilling to extend over an area of 350 m by 720 m. Three holes were completed at the Hobbes Target. Drill hole ZY12-33 was placed approximately 100 m east of previous drilling and appears to have closed off the system in this direction. Hole ZY12-32 was located in the central portion of the zone but was directed to the southwest, the opposite azimuth of previous drilling, in an attempt to determine the geometry and orientation of the system. Hole 32 intersected a long interval of mineralization from 6.3 m for 293.7 m grading 0.16 g/t gold and 0.21% copper. The rest of the hole continued in highly altered and variably silicified rock to 582.0 m. The third hole at Hobbes, ZY12-34 was collared at the western end of the drill area at the site of hole ZY11-26 but was drilled to the southwest in the opposite direction of hole 26. Hole 26 had intersected 75.0 m, from 180.0 m, of 0.20 g/t gold and 0.29% copper. Hole 34 intersected mineralization from top to bottom returning 297.0 m, from 9.0 m, grading 0.07 g/t gold and 0.12% copper. The hole ended in 0.1% to 0.2% copper and indicates that the zone appears to widening in this western direction to in excess of 500 m.

Hole ID Target From (m) To (m) Interval (m) Au (g/t) Cu (%) Ag (g/t) *CuEq (%)
ZY12-32 Hobbes 6.3 300.0 293.7 0.16 0.21   0.32
Including   6.3 180.0 173.7 0.20 0.26   0.40
                 
ZY12-33 Hobbes No significant intercepts            
                 
ZY12-34 Hobbes 9.0 306.0 297.0 0.07 0.12   0.17
including   219.0 306.0 87.0 0.08 0.15   0.21

URC Target: The URC Target is located 1.5 kilometres southwest of Hobbes and is defined by a large 200 metre by 1,500 metre copper and gold soil anomaly and coincident geophysical anomalies (magnetic high and IP high). Two drill holes completed in 2011 returned inconclusive results and the anomalies remain unexplained. The planned drilling at URC was unable to be completed in this program and the area remains largely untested.

Bearing Resources Ltd. was earning an interest in the Zymo Project but has given notice to the company that it will not continue the option. The Zymo Property is owned 100% by Eastfield Resources Ltd. subject only to a net smelter return interest.

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.

Drill intervals reported are core lengths and true widths are not known.

*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.

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 Resources is a Canadian mineral exploration company focused on the discovery of large gold and copper deposits; it currently has projects in British Columbia and in Nevada. Current projects include a 100% interest in the Zymo copper-gold property, a 40% ownership in the Okeover copper-molybdenum project with 60% partner Prophecy Resource Corp. (TSX-V: PCY), a 100% interest in the Tonopah gold project in Nevada and a 100% interest in the Iron Lake, Naggie and Hidden One base and precious metals projects in BC. Projects currently optioned out include Indata, optioned to Oceanside Capital Corp. (TSX-V: OCC). 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=553287

Eastfield Resources Ltd

EXPLORATEUR
CODE : ETF.V
ISIN : CA27724D1096
CUSIP : 27724D109
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Eastfield est une société d’exploration minière basée au Canada.

Eastfield détient divers projets d'exploration au Canada.

Ses principaux projets en exploration sont CROWSNEST, HOWELL, ZYMO, KILOMETRE 26, INDATA, TONOPAH (THREE HILLS), IRON LAKE - EASTFIELD / LYSANDER et OKEOVER (EASTFIELD) au Canada.

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