|
Tuesday,
September 09, 2008
Drilling Underway At The Zymo Copper-Gold Project
Eastfield Resources Ltd.
"Eastfield" (TSX-V: ETF) and Canadian Gold Hunter Corp. "CGH"
(TSX: CGH) are pleased to report that drilling is underway on the Zymo
copper-gold property 45 km
west of Smithers, BC. Exploration on the project has been ongoing since late
June in preparation for the drill program. This work has included geochemical
sampling, IP geophysical surveying and geological mapping.
The drilling program will total approximately 1,500 metres in 6
holes and will focus on the newly discovered Hobbes target located 4.5 km northwest of the
original discovery area (FM grid). The Hobbes target consists of copper-gold
mineralization associated with magnetite and quartz stockwork. Mineralized
outcrops have been observed along the length of a strongly altered intrusion
for approximately 800 m.
Copper and gold values from outcrop samples range from background levels to
0.86% Cu and 1.1 g/t Au.
The IP geophysical survey is nearing completion and has shown that
mineralization is associated with a very large sulphide system. The IP
anomalies on the FM and Hobbes grids are approximately 2.5 km wide and are
open-ended (2.0 km
long on FM and 1.5 km
long on Hobbes). Two lines are being surveyed between the grids to determine
if the anomalies join.
CGH can 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, is supervising the exploration program on the
Zymo property.
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=318297
|