Drilling Starts at CR Project Near Barkerville

2022-10-25 / @thenewswire

(TheNewswire)

Vancouver, BC – TheNewswire - October 25, 2022 – Eastfield Resources Ltd. (TSXV:ETF) (OTC:ETFLF) (“Eastfield” or the “Company “) is pleased to announce the start-up of a drilling program on its 100% owned CR Project located approximately 80 km northeast of the town of Quesnel, BC and 20 km north of the gold mining towns of Wells and Barkerville.

The CR property was acquired by staking in 2014. There is no record of hard rock mineral exploration on the CR property prior to Noranda Exploration carrying out regional exploration in the area in 1986 with airborne magnetic and ground follow-up (ground based surveys and soil sampling) identifying a 1.2 kilometre by 0.7 kilometre arsenic in soil anomaly adjacent a local drainage named Arsenic Creek.

In 2014, Eastfield carried out induced polarization and magnetic surveys in this area and outlined a 200 metre by 800 metre northwest trending chargeability high that remains open to the northwest. This anomaly lies along the uphill edge of the soil geochemical anomaly. In 2018 soil sampling upslope of historical heavy mineral anomalies (with values up to 3000 ppb Au), resulted in locating several spot gold and gold-arsenic anomalies that may indicate a source of the historical work.

A few small outcrop occurrences of chalcedonic quartz/iron carbonate alteration have been located on the property and returned anomalous gold and arsenic values. Intensely silicified small outcrops have been located in the vicinity of the IP anomaly. A sub-cropping rock sample of quartz-chlorite stockwork, adjacent to the outline of the IP anomaly returned 1.35 g/t gold and 1864 ppm arsenic.

The drill program will test a portion of the IP anomaly to determine whether this linear feature may represent a gold bearing zone of silicification.

This news release has been reviewed and approved by Mr. G.L. Garratt, P. Geo., who is the Qualified Person within the context of NI 43-101 and takes responsibility for it.

Glen Garratt, P. Geo.

VP, Director

Contact: (604) 681-7913 or Toll Free: 888-656-6611

About Eastfield Resources: Other Projects:

Iron Lake: copper-gold- palladium-platinum-cobalt, located 40 kilometers northeast of 100 Mile House, BC. The project is optioned to Tech-X Resources Inc. (a private company headed by Haig Farris). Targets include ultramafic copper-gold- palladium-platinum-cobalt and porphyry copper-gold. Tech-X may earn an 80% interest in Iron Lake by completing a total of $12,000,000 in work and paying a total of $1,000,000 in option payments by December 31, 2027. Work competed in 2021 included an airborne MobileMT survey and extensive geological reconnaissance and sampling later in 2021. . Analytical results for 13 drill holes completed in July through September, 2022 (2,620 meters in aggregate) are expected to begin to be received shortly and drilling has recently resumed.

Indata: copper-gold porphyry and precious metal quartz veins, located 120 km north of Fort St. James, BC, optioned to Alpha Copper Corp. who may earn 60% by completing $2,000,000 in exploration and paying $450,000 (cash and/or shares) by June 20, 2023. A number of very prospective untested induced polarization targets exist and are fully permitted. Results from previous drilling include DDH88-11 with 47.26 g/t gold over 4 m and DDH98-4 with 0.20% copper over 148 m including 0.37% copper over 24 m at the bottom of the hole. In 2019 new mineralization was exposed by logging activities in the southern region of the claims with samples returning up to 3.64% copper and 5.95 g/t gold.

The Kwanika and Stardust deposits, owned by Northwest Copper Corp., are located immediately north of Indata and share similar geology. Thirteen Drill holes (2,140 meters in aggregate) completed between early July and mid-September of this year focused on new discovery with the primary target types being porphyry copper, carbonate replacement (CRD) style mineralization and precious metal rich quartz-sulfide veins are currently being analysed.

Zymo: a big copper-gold porphyry system with several 1 km scale targets, located 45 km west of Smithers, BC which is 100% owned by Eastfield. An 8 kilometer by 3 kilometer induced polarization chargeability anomaly includes and surrounds known mineralization. Drill results include holes ZY08-07 with 0.72% copper and 0.66 g/t gold over 72 meters and hole ZY11-20 with 0.28% copper and 0.34 g/t gold over 126 m. Peripheral precious metal veins have returned up to 10.78 g/t gold. Work completed in 2021 included expansions to the induced polarization and soil grids at a cost in excess of $400,000. Zymo is fully permitted.

Hedgehog: copper-gold (VMS) and lode gold, located approximately 12 kilometers north of the community of Barkerville, BC. In 2021 option partner West Oak Gold Corp discovered several new anomalies. Particularly intriguing is a soil sample with 0.22% copper and 8.45% iron. Interest in this sample is inspired by previous float samples collected further south on the property including a massive sulfide boulder grading 24.3% copper and 19.6 g/t silver collected in 1999 and five additional copper rich massive sulfide boulders with an average grade of 8.0% copper and 8.9 g/t silver collected in 2000. In 2013, Eastfield discovered a new area of mineralization in the northern region of the claims where quartz veins hosted in sheared rhyolite returned grab samples to 1.51 g/t gold and 1.37% zinc. Other companies active in the area include Osisko Gold Royalties Ltd.) (TSX: OR) who are currently conducting a major exploration program for gold ten kilometers to the south in and around the former operating Barkerville Mine. The project is fully permitted and field work is slated to resume this week.

CR: gold, located approximately 80 km northeast of the town of Quesnel, BC and 20 km north of the gold mining towns of Wells and Barkerville, was acquired by staking in 2014. There is no record of hard rock mineral exploration on the CR property prior to Noranda Exploration carrying out regional exploration in the area in 1986 with airborne magnetic and ground follow-up (ground based surveys and soil sampling) identifying a 1.2 kilometre by 0.7 kilometre arsenic in soil anomaly adjacent a local drainage named Arsenic Creek. In 2014, Eastfield carried out induced polarization and magnetic surveys in this area and outlined a 200 meter by 800 meter northwest trending chargeability high that remains open to the north. In 2018 soil sampling upslope of historical heavy mineral anomalies (with values up to 3000 ppb Au), resulted in locating several spot gold and gold-arsenic anomalies that may indicate a source of the historical work. A few small outcrop occurrences of chalcedonic quartz/iron carbonate alteration have been located on the property and returned anomalous gold and arsenic values. Intensely silicified small outcrops have been located in the vicinity of the IP anomaly. A sub-cropping rock sample of quartz-chlorite stockwork, adjacent to the outline of the IP anomaly returned 1.35 g/t gold and 1,864 ppm arsenic. CR is permitted and drilling is planned for this year.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

For more information, please visit the company’s website at www.eastfieldresources.com.