(TheNewswire)
Vancouver, BC / TheNewswire / July 5, 2018 - Eastfield Resources Ltd. (“Eastfield”) (TSX-V: ETF) has entered into an Option Agreement with privately owned Prophecy Potash Corp. (“Prophecy Potash”) whereby Prophecy Potash can earn a 60% interest in the Indata copper-gold project located 120 kilometres northwest of the community of Fort St. James, British Columbia.
The Indata property consists of 16 claims totaling 3,189 hectares (7,880 acres). It is situated in and adjacent to the Pinchi Fault Zone with the northern boundary being approximately 5 kilometers south of the southernmost boundary of the Stardust Project (Sun Metals Corp.(“Sun Metals”) (TSX-V:SUNM) and (Lorraine Copper Corp Corp.(“Lorraine”) (TSX-V:LLC).
Originally staked by Imperial Metals Corporation in 1983 Indata has been owned and explored by Eastfield since 1987. Two styles of mineralization exist at Indata including lode gold related to splay structures in the Pinchi Fault Zone where results have included drill intercepts of 47.26 g/t gold over 4.0 meters and porphyry copper related mineralization where results have included drill intercepts of 0.20% copper over 148.2 meters. A 1km long coincident IP chargeability and coincident Copper in soil anomaly remains untested.
To earn the 60% interest Prophecy Potash is required to complete $2,000,000 in exploration, pay $250,000 in cash and $150,000 in cash/share equivalents over a 5 year term. A minimum $75,000 program is required in the first year.
This news release has been reviewed by J.W. Morton P.Geo who is the Qualified Person within the context of NI43-101 and who takes responsibility for its content.
J.W. Morton, P. Geo.
President and CEO
Eastfield Resources Ltd.
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.
About Eastfield Resources:
Eastfield Resources is a well-funded Canadian mineral exploration company focused on the discovery of large precious metal and copper deposits. Eastfield owns a 100% interest in five mineral projects in British Columbia. Eastfield trades on the TSX Venture exchange under the symbol "ETF". For more information, please visit the company’s website at www.eastfieldresources.com.
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