Drilling Started at the Indata Gold-Copper Project in BC
posted on
Sep 24, 2008 03:57PM
6 projects - British Columbia & 1 in Nevada.
Vancouver, BC, September 23, 2008 - Eastfield Resources Ltd. ("Eastfield") (TSX-V: ETF) is pleased to announce that MAX Resource Corp. ("MAX") (TSX.V: MXR) has commenced drilling on the Indata gold-copper project located in central British Columbia, 130 kilometres north of Fort St. James. Approximately 1,000 metres are to be drilled. Two target types exist on the Indata property - a lode gold target related to subsidiary structures to the adjacent Pinchi Fault system and a porphyry copper target probably related to Jurassic intrusions which have invaded these same structures.
The current program will start by drilling deeper than a hole drilled in 1998 which returned 145 metres grading 0.20% copper including a final 24 metres grading 0.37% copper. The 1998 drill program, as well as drilling conducted in 1996, was focused on an area where a drill access road completed in 1995 had exposed significant copper mineralization, including a 75.0 metre section averaging 0.37% copper.
On completion of the first hole, drilling will move to the lode gold target where several holes are planned to test deeper levels of the system, following insight garnered from the Mother Lode deposit model developed in California. The Melones Fault Break, central to the California Mother Lode district, has been interpreted by a number of geologists to be analogous to the Pinchi Fault Break, which is adjacent to the Indata property in central British Columbia. Of particular interest to the current program will be a hole planned to test below a drill hole completed in 1988 that intercepted four metres grading 47.26 g/t gold.
MAX can earn a 60% interest in the Indata property from Eastfield by making cash payments totaling $120,000, issuing up to 300,000 shares and by completing exploration expenditures of $1.15 million over a three year period.
Indata is one of two exploration projects in British Columbia recently optioned to Max as announced in our news release of June 9, 2008. The other property, the Howell gold project in southeast British Columbia, was the subject of a recent exploration program, with 1,300 metres of core drilling completed. Analytical work is continuing and results are expected by mid October. At Howell, a new area of carbonate hosted mineralization is evident in soil sample results recently received which indicate an area of highly anomalous gold, silver, zinc and lead results with maximum values for soil samples exceeding 10,000 ppm lead and 100 ppm silver.
J.W. (Bill) Morton P.Geo is the qualified person pursuant to National Instrument 43-101 guidelines who takes responsibility for this news release.
Bill Morton
J.W. (Bill) Morton, P. GeoPresident and CEO
Eastfield Resources Ltd.
Contact: Paul Way, Business Development Manager
(604) 681-7913 or Toll Free: 888-656-6611
About Eastfield Resources:
Since its inception in 1987, Eastfield has utilized a successful business strategy that involves securing third party exploration financing on its projects. Eastfield has six projects located in British Columbia and one in Nevada. Currently optioned projects include Zymo, optioned to Canadian Gold Hunter (TSX: CGH); Okeover, optioned to Prophecy Resource Corp. (TSX-V: PCY); Indata and Howell, optioned to MAX Resource Corp. (TSX.V: MXR); and Iron Lake, optioned to Cobre Exploration Corp. (TSX-V: CXV-H). Lorraine Copper (TSX-V: LLC) and Cariboo Rose Resources (TSX-V: CRB) have their origins in Eastfield, demonstrating the success of the business model.
The TSX - Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the TSX - Venture Exchange, the British Columbia Securities Commission and the US Securities and Exchange Commission.
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