Vancouver, B.C., Dec 6, 2019, Eastfield Resources Ltd. (TSX-V: ETF) (“Eastfield”) and GK Resources Ltd. (TSX-V: NIKL) (“GK”) have completed their 2019 program at the Iron Lake property. Fieldwork included rock sampling and 7.5 kilometers of infill induced polarization surveying designed to improve targeting for a planned future drill program. A total approximately 54 kilometers of “IP” has now been completed on the property.
Iron Lake is located 45 kilometers northeast of the community of 100 Mile House, in southern British Columbia. The property consists of 21 claims totaling 8,033 hectares (19,841 acres) covering a large mafic to ultramafic intrusive body in which olivine pyroxenite, gabbro and pegmatite predominate. The intrusion is host to disseminated and massive sulfide styles of mineralization. Between the years 2000 and 2012 many samples of mineralized rubble were found at Iron Lake in a glacial till esker feature enclosed within an open ended IP chargeability anomaly. All of these samples are composed of olivine pyroxenite with a disseminated character of mineralization with an average metal content (8 samples) of 0.71% copper, 0.70 g/t gold, 0.32 g/t platinum + palladium and 417 ppm nickel. The bedrock source of this material has not yet been determined but is the focus of the 2019 program. Drilling completed in 2005 and 2006, targeting electromagnetic anomalies just south of the IP anomaly, encountered significant thicknesses of massive sulfide mineralization (e.g. hole IL-05-03 with 17 meters aggregate thickness of greater than 60% sulfide grading 0.34% copper and 23.7% iron). Cobalt values in the massive sulfide reach 0.14% over a 1.4 meter drill core sample interval while select grab samples reach 0.35%.
Iron Lake is subject to an option agreement with GK Resources Ltd. (“GK”) whereby GK may earn a 60% interest in the project by making $600,000 in option payments (cash and/or shares) and completing $3,000,000 in exploration work by June 20, 2023.
In other news Surge Exploration Inc. has notified the company that it is terminating its option on the Hedgehog copper, gold and cobalt project located approximately 10 kilometers north of the community of Barkerville, BC. Eastfield will continue to own a 100% unencumbered interest in Hedgehog.
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 two are currently optioned to third parties. Eastfield also holds a strategic position in Consolidated Woodjam Copper consisting of approximately 14% of its outstanding shares.
For more information, please visit the company’s website at www.eastfieldresources.com.