(TheNewswire)
Vancouver, B.C. - TheNewswire - Sept 17, 2019, Eastfield Resources Ltd. (TSXV:ETF) (“Eastfield”) announces it has started the 2019 exploration program on its wholly owned Indata property (copper-gold). Indata is subject to an option agreement with Prophecy Potash Corp. (TSX-V: NUGT) (“Prophecy Potash”) whereby Prophecy Potash may earn a 60% interest in the project by making $400,000 in option payments (cash and/or shares) and completing $2,000,000 in exploration work by June 20, 2023.
The Indata property totaling 3,189 hectares (7,880 acres) is located approximately 120 kilometers northwest of the community of Fort St. James, British Columbia and 230 kilometers northwest of the City of Prince George. It is situated in and adjacent to the Pinchi Fault Zone with the northern boundary being approximately 7 kilometers south of the southernmost boundary of the Stardust Project (Sun Metals Corp.) and 10 kilometers south of the Central Zone of the Kwanika Deposit (Serengeti Resources Inc.). Terrain is flat to hilly with elevations varying from 940 to 1,290 meters (3,100 to 4,200 feet), all below tree line. Access is excellent with logging operations currently occurring in the southern region of the property.
Three 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 (with many lesser values) and porphyry copper mineralization where results have included drill intercepts of 0.20% copper over 148 meters and trench intercepts of 0.36% copper over 75 meters (with many lesser values). In 1989 a separate area of high grade copper and copper-gold mineralization was identified in the northeastern sector of the property with only minimal follow-up. Here, a cluster of grab samples collected by a Placer Dome geologist returned a number of high grade results from an open-ended area of approximately 250 m in a north-south orientation (east-west width unknown and now called the Northeast Target). The average of the twelve samples collected here is 1.34% copper and 84 ppb gold (78ppm Cu to 35,959ppm Cu and 2ppb Au to 575 ppb Au). In 2007 a significant new target was developed in the northwest side of the property in an area underlain by limestone. Here soils are strongly anomalous in lead, zinc, gold, manganese and antimony. This anomaly is situated in carbonate rocks similar in character and in proximity to the Pinchi Fault as is the case at the Stardust Project owned by Sun Metals Corp. located 18 kilometers to the north. Very little follow up has been completed at this target (now called the Manto Target) which is a focus of the 2019 program.
The current program will include drill road construction and trenching pre-existing IP targets with an excavator.
A property location graphic can be viewed at the following:
https://www.eastfieldresources.com/site/assets/files/5538/indata_regional_location_map.800x0.jpg
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
Contact: (604) 681-7913 or Toll Free: 888-656-6611
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 precious metal and copper deposits. Eastfield currently has six mineral projects located in British Columbia of which three are currently optioned to third parties with work programs anticipated this year. These include: Hedge Hog (copper-gold-cobalt), optioned to Surge Exploration Inc. Indata (copper-gold), optioned to Prophecy Potash Corp. and Iron Lake (copper-gold -platinum-palladium-cobalt-nickel) optioned to GK Resources Limited.
For more information, please visit the company’s website at www.eastfieldresources.com.
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