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Thursday, August 25, 2011
Eastfield Provides Update on Kilometre 26 Program, BC
Vancouver, BC, August 25, 2011, Eastfield Resources Ltd. "Eastfield" (TSX-V: ETF) would like to provide an update on the Kilometre 26 nickel-gold project located in central British Columbia, approximately 55 kilometres northwest of Fort St. James.
The current exploration program was initiated during the third week of May and work has entailed expanding the cut grid on the property, followed by magnetometer and induced polarization surveying as well as soil sampling. Approximately five weeks were spent mapping the property, using the cut grid and sampling new exposures (rock and rubble) of ultramafic and carbonate rock. Highlights of rock samples collected and analyzed included 20 that returned grades ranging between 0.19 per cent to 0.25 per cent nickel. The geophysical survey (approximately 36 line kilometres) has extended the strike length of the strong magnetic anomaly (believed to be serpentinite) to more than 4.5 kilometres. This anomaly is thought to be the source of much if not all of the nickel-mineralized rubble that has been located on the property. A separate magnetic feature is indicated several kilometres farther to the west, which likewise appears to have a dispersion train of mineralized serpentinite. Approximately 600 soil samples were collected and are currently being analyzed.
An international metallurgical organization with expertise in the recovery of nickel alloy and sulphide from ultramafic rocks has been engaged to develop a testing strategy for the Kilometre 26 project. It is anticipated that, if the exploration phase is successful, an operational extraction routine that could form part of a commercial process will be completed. Testing will entail using magnetic separation techniques from mineralized samples collected in the current program.
All permits are in place and diamond drilling of an initial 12 targets is anticipated to begin during September, 2011.
The Kilometre 26 project encompasses 9,819 hectares (24,263 acres). It is centred on a strong magnetic anomaly indicated on the Quest West helicopter-borne magnetic and electromagnetic survey flown for the British Columbia government (Geoscience BC) and published January, 2009. The magnetic anomaly is more than five kilometres in diameter, suggesting a large ultramafic body. The property is easily accessible by major industrial and logging roads, is bisected by a power line that forms part of the British Columbia power grid and is adjacent to a branch line of the Canadian National Railway.
Oroandes Resource Corp. (TSX-V: OAR) has the option to earn a 60% interest in Kilometre 26 from Eastfield by spending $1,575,000 on exploration, issuing 275,000 shares and making $107,500 in payments by September 25, 2013.
J.W. (Bill) Morton, PGeo, a qualified person for the purposes of National Instrument 43-101, has read and taken responsibility for this news release.
Bill Morton, P.Geo.
CEO and 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 large 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 gold-copper project; a 40% ownership in the Okeover copper-molybdenum project with 60% partner Prophecy Resource Corp. (TSX-V: PCY) and a 100% interest in the Tonopah gold project in Nevada. Projects currently optioned out include Kilometre 26, optioned to Oroandes Resource Corp. (TSX-V: OAR); Indata, optioned to Oceanside Capital Corp. (TSX-V: OCC); Iron Lake, optioned to Calico 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.
You can also view this News Release on our website at:
http://www.eastfieldresources.com/s/NewsReleases.asp?ReportID=475031 |