Max completes drilling at Indata - 2008-10-23
posted on
Jan 24, 2009 04:46AM
6 projects - British Columbia & 1 in Nevada.
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Eastfield optionee Max completes drilling at Indata
EASTFIELD RESOURCES ANNOUNCES DRILLING CONCLUDED AT INDATA GOLD-COPPER PROJECT, BC
Eastfield Resources Ltd. optionee Max Resource Corp. has completed drilling totalling 1,035 metres at the Indata gold-copper property, located approximately 120 kilometres northwest of Fort St. James in central British Columbia. Four holes were completed in the gold target at Indata, with all holes encountering variable thicknesses of quartz sulphide mineralization. A fifth hole was completed in an adjacent and possibly unrelated porphyry copper target.
At Indata, lode gold is being targeted following the Mother Lode model developed in California. In early 2008, Max completed a review of historic work at Indata and concluded that very little exploration had been done in the down-dip direction of the previous drilling. If the Indata property was indeed a Mother Lode-style system, then significant down-dip extension of previously found mineralization could be expected. Twenty-four historic diamond drill intercepts, drilled at Indata in 1988 on behalf of Placer Dome, have an average vein intercept of 1.54 metres width with an average grade of 8.41 grams per tonne gold and 52.43 g/t silver. The most significant intercept, hole 88-11, included an intercept of 47.26 g/t gold and 2.00 g/t silver over 4.0 metres (estimated to be 3.50 metres true thickness).
Max can earn a 60-per-cent interest in the Indata property from Eastfield by making cash payments totalling $120,000, issuing up to 300,000 shares and by completing exploration expenditures of $1.15-million over a three-year period.
J.W. (Bill) Morton, PGeo, is the qualified person pursuant to National Instrument 43-101 guidelines who takes responsibility for this news release