Vancouver, BC, June 10 2015, Eastfield Resources Ltd. ("Eastfield") (TSX-V: ETF) is pleased to announce that fieldwork has commenced on the Iron Lake project. Following this work crews will mobilize to the Big Valley project.
The Iron Lake project is located approximately 40 kilometres northeast of the 100 Mile House, BC. At Iron Lake, a soil copper anomaly was first identified in the 1970's followed by the discovery of well mineralized copper, gold, platinum and palladium rubble in 2000. In 2005, following the completion of a property-wide airborne electromagnetic survey, pyrrhotite dominant massive sulphide was intercepted including hole 05-03 with an aggregate massive sulphide intercept of 6.1 metres. The 2005 airborne survey identified a total of 405 conductors of which 15 were interpreted to be caused by discrete bedrock sources. Only two conductors have been drilled and many of the others are located outside the boundaries of existing grids. The current program will establish three new surface grids with the objective of evaluating these thirteen undrilled conductors.
The Big Valley project is located 15 kilometres north of Barkerville in central BC. Eastfield now owns 100% of the Big Valley project having recently purchased a 30% minority interest from Badger Minerals Ltd. for cash consideration of $40,000. Big Valley consists of three road-accessible claims, named Hedge Hog, Antler and CR which are highly prospective and have had little exploration over the years. Placer gold mining is documented and still continuing on a small scale on and around the claims. The well-known historical gold production in the nearby Barkerville and Wells area (~4 million ounce placer production and ~1.2 million ounce hard rock production) in addition to the occurrence of numerous boulders of massive sulphide mineralization are the focus for targeting further exploration on these properties.
At Hedge Hog, massive sulphide boulders with very high copper, gold and silver values were discovered by prospectors in the late 1990's, and subsequently explored by Hudson Bay Exploration and Development until 2001. Claims covering the target area were kept valid until 2013 at which time they expired and the area was immediately claimed by Eastfield. In 2014 surface grids were established as part of a program completed on the Big Valley project. Reconnaissance induced polarization surveying was subsequently completed with results indicating a number of prospective targets (chargeability highs) that were not targeted by Hudson Bay. In 2014 Eastfield was issued a comprehensive exploration permit that includes as many as 50 excavator pits with plans to complete this work this season. The target at Hedge Hog is either a volcanogenic massive sulphide or a lode gold deposit similar to those typical of the Barkerville camp.
Eastfield is excited to be developing 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.
J.W. Morton, P. Geo.
President and CEO
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 with several highly prospective projects in British Columbia and in Nevada. Eastfield owns a 100% interest in five mineral projects in British Columbia and one in the state of Nevada. The British Columbia projects are significant for copper with accessory precious metals while the Nevada project is specifically significant for gold and silver. Eastfield trades on the TSX Venture exchange under the symbol "ETF". For more information, please visit the company's website at www.eastfieldresources.com.
