Eastfield Resources Readies for Exploration near Barkerville BC - KXNet.com - Bismarck/Minot/Williston/Dickinson-KXNEWS,ND

Eastfield Resources Readies for Exploration near Barkerville BC

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Vancouver, BC, / ACCESSWIRE / August 28, 2014 / Eastfield Resources Ltd. (“Eastfield”) (TSX-V: ETF) is pleased to report that fieldwork has commenced at three recently staked gold prospects approximately 20 km north of the historic gold mining towns of Wells and Barkerville, British Columbia. The recent downturn in mineral exploration caused a large area in this region to become open after being claimed by a number of parties for more than a decade.

The well known historical gold production from placer (~4 million ounce production) and lode (~1.2 million ounce production) gold deposits of the Wells/Barkerville area as well as the significant resource outlined at the Cow Mountain gold occurrence of Barkerville Gold Mines Ltd. (Measured and Indicated: 1.04 million ounces gold and Inferred: 3.94 million ounces gold) attest to defining the significant scale of this gold district. The properties share characteristics with the deposits in Barkerville such as quartz-iron carbonate alteration, an association of gold with base metal sulphides and a possible relationship with altered gold-bearing felsic intrusions.

Exploration permits for each of the three properties have been received. The program includes induced polarization (IP) and magnetic surveying and mechanical test pitting. Soil grids, which do not require permitting, were established in July and analytical results are pending.

Brief summaries of these new properties are as follows:

Hedge Hog Property:

The property was staked to cover three different targets.

The first target, called Lottie, has massive sulphide boulders of possible volcanogenic massive sulfide (VMS) origin with samples assaying up to 24.3% copper and 19.6 g/t gold. Five samples of chalcopyrite rich massive sulphide boulders collected by Hudson Bay Exploration and Development in 2000 average 7.91% copper, 8.87 g/t silver and trace gold (139 ppb), lead and zinc.

The second target, called Golden Sky was discovered by an Eastfield exploration crew in 2013 on a recently constructed logging road. A gossanous rhyolite cut by narrow quartz veins returned an analysis of 1.51 g/t gold along with 1.01% zinc and 0.48% lead and accessory arsenic and antimony.

The third target, called Khan-Khan, also cover part of a large land package that was explored by Hudson Bay Exploration and Development in 2000 where massive sulphide boulders were discovered. The target deposit type at Khan-Khan is could again be either a VMS or alternately a structurally focussed precious metal vein deposit similar to gold occurrences closer to Barkerville. An active placer gold mine exists approximately one kilometer east of the Khan-Khan claim.

Antler Property:

The antler property, located further to the east, has two targets; The Antler target is outlined by a 500 m long As in soil anomaly with a mineralized outcrop at its southern end which returned an assay of 12.3 g/t gold across a 1.1 m sample width. Two float boulders located 1 km northwest from the geochemical anomaly returned:97-RK10: 4.72 g/t gold, 330 ppm arsenic, 6.96% copper and 0.85% zinc and 97-RK11: 4.80 g/t Au, 100 ppm As, 1.90% Cu and 0.55% Zn.

The second target, called 14 Mile Creek, is located where a number of massive sulphide float boulders were discovered with many having cores of fine grained pyrite with lesser chalcopyrite.

CR Property:

In 1986 Noranda carried out a regional exploration program following up a BC government geochemical sampling survey and located an area strongly anomalous in gold and arsenic in an area of historic placer gold mining. Of note in their initial work was the discovery on a number of logging road cuts and landings of chalcedonic quartz veinlets and vugs associated with red-brown weathered quartz-carbonate altered zones. Follow-up grid soil sampling outlined a 1.0 km by 0.5 km arsenic anomaly with scattered anomalous gold values up to 1,300 ppb gold. No outcrop was located on the grid. Heavy mineral soil/till sampling by Noranda along road cuts elsewhere on the CR property returned highly anomalous gold values up to 3,300 ppb gold in areas with little to no outcrop. No further exploration work has been undertaken since 1989 on the property and the source of the extensive geochemical anomalies remains unknown.

Eastfield is excited to be developing grass roots exploration targets at low cost to the company that offer significant upside exploration potential. It is believed that all three properties can be brought to a drill-testing stage quickly and at low cost.

G. L. Garratt, P. Geo.

V. P., Director

Eastfield Resources Ltd.

Contact: Paul Way, Business Development Manager

(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 large gold and copper deposits; it currently has a number of significant projects in British Columbia and in Nevada. Eastfield trades on the TSX Venture exchange under the symbol “ETF”. For more information, please visit the company’s website at www.eastfieldresources.com.

SOURCE: Eastfield Resources Ltd.  

ReleaseID: 419677

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