Mexico news
posted on
Apr 10, 2008 06:19AM
NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)
TORONTO, ONTARIO--(Marketwire - April 10, 2008) - Seafield Resources Ltd. ("Seafield" or the "Company") (TSX VENTURE:SFF) and Noront Resources Ltd. ("Noront") have completed a state-of-the-art detailed heliborne magnetic and electromagnetic geophysical survey over the Fire property in the McFauld's Lake area, Ontario. The Fire property covers an eight-kilometer stretch of the Ring of Fire, which is interpreted to be underlain by metavolcanic and mafic to ultramafic intrusive rocks. Seafield has been granted the option to acquire a 50-per-cent legal and beneficial interest in the property (covering a total of 96 claim units or approximately 3,840 acres) 60 km north of Noront's Eagle One high-grade copper-nickel-platinum group element discovery. Seafield and Noront are awaiting receipt of the survey data, which will immediately be processed and interpreted to define targets for follow-up drilling.
At Seafield's Elora high grade gold project south of Dryden, the Company expects to contract a drill in the coming days for a drill campaign to commence later this spring. The drill program is planned to follow up on encouraging high-grade intercepts with visible gold in several of the holes drilled by Seafield in previous campaigns. Visit the Company's website for past results at Elora.
In Mexico, drilling has been completed at the Company's 100-per-cent owned Tango gold/silver property in the Rosario precious metal mining district, Sinaloa, Mexico. This initial reconnaissance reverse circulation drill program completed approximately 1,750 meters in 14 holes on a number of vein and broader disseminated targets with anomalous gold, silver and base metals in soil and rock samples. Assays are pending.
Also in Mexico, assay results are pending at Seafield's Picachos property where NWT Uranium Corp. has completed a drill program as part of the requirements of an option agreement in which NWT can earn a 70-per-cent interest in the property. Earlier work by NWT included surface sampling which returned some values as high as 145 ounces per ton (4,975 grams per tonne) silver, 0.25 ounce per ton (8.61 g/t) gold.
No Stock Exchange has reviewed nor accepted responsibility for the adequacy or accuracy of this news release. This news release includes certain "forward looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of commodities, general market conditions, risks inherent in exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. The Company relies on litigation protection for forward looking statements.
The TSX Venture Exchange, Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.