Thursday, November 13, 2008 Drilling Intersects 72 Metres of 0.72% Copper and 0.54 g/t Gold on the Zymo Project, BC
Vancouver, BC, November 13, 2008 - Eastfield Resources Ltd. "Eastfield" (TSX-V: ETF) and Canadian Gold Hunter Corp. "CGH" (TSX: CGH) are pleased to report the initial drilling results on the Zymo copper-gold property 45 km west of Smithers, BC.
A total of 1,554.5 metres was drilled in six holes on the newly discovered Hobbes Zone. All of the holes intersected significant intervals of copper/gold mineralization with the best interval being 72.0 metres grading 0.72% copper and 0.54g/t gold starting at 15.0 metres in hole ZY-08-09. A summary of the drill results is as follows:
Hole ID |
From (m) |
To (m) |
Core Length (m) |
Cu % |
Au g/t |
ZY-08-7 |
3.05 |
252.98 eoh |
249.93 |
0.20 |
0.14 |
including |
116.0 |
182.0 |
66.00 |
0.33 |
0.20 |
ZY-08-8 |
3.05 |
237.74 eoh |
234.69 |
0.20 |
0.12 |
including |
51.00 |
111.0 |
60.0 |
0.39 |
0.26 |
ZY-08-9 |
3.05 |
256.02 |
252.97 |
0.32 |
0.23 |
including |
3.05 |
162.0 |
158.95 |
0.44 |
0.32 |
including |
15.0 |
87.0 |
72.0 |
0.72 |
0.54 |
ZY-08-10 |
3.05 |
162.00 |
158.95 |
0.31 |
0.21 |
including |
18.00 |
75.00 |
57.00 |
0.43 |
0.32 |
ZY-08-11 |
6.10 |
153.00 |
146.90 |
0.16 |
0.10 |
ZY-08-12 |
51.00 |
150.00 |
99.00 |
0.11 |
0.05 | (eoh = end of hole)
The Hobbes Zone was discovered by prospecting late in 2007. It is associated with a magnetic anomaly that is approximately 1.0 km in length. However, it is part of a much larger chargeability anomaly that exceeds 6.0 km in length, is open-ended and varies from 2.0 to 3.0 km in width. The Hobbes Zone and the original known showings on the property are approximately 4.0 km apart and both areas occur on the northern flank of the IP anomaly. (For hole locations, see our website at http://www.eastfieldresources.com/s/Zymo.asp)
Soil sampling and reconnaissance rock and silt sampling have outlined several other areas that are anomalous in copper and gold. Rick Bailes, president of CGH, stated "The geophysical and geochemical data clearly show that the Zymo mineralizing and alteration system is very large, exceeding 15 square kilometres and we are looking forward to continuing to explore this strong system."
CGH has the option to earn a 60% interest in the property by completing exploration expenditures of $4 million over five years. CGH may earn an additional 10% interest by completing a feasibility study and an additional 5% by arranging mine financing for Eastfield.
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. R.J. Johnston, P.Geo, who is a qualified person within the context of National Instrument 43-101, supervised the exploration program on the Zymo property. Analysis was performed by Acme Analytical Laboratories, a certified facility in Vancouver, BC, using multi-element (ICP-MS) Aqua Regia Digestion (1D) procedures, with gold and silver values determined using fire assay procedures. Re-analyses of samples assaying in excess of 10,000 ppm copper were performed by ICP-ES 4 Acid Digestion (7AR) procedures. External standards were inserted into the sample sequence at a ratio of approximately one standard per 30 samples.
G.L.Garratt, 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=328180 |