Eastfield Resources Develops Drill Targets in Big Valley Project
Vancouver, BC / TNW-ACCESSWIRE / December 8, 2014, Eastfield Resources Ltd. ("Eastfield") (TSX-V: ETF) is pleased to report results from fieldwork on three recently staked gold prospects approximately 20 km north of the historic gold mining towns of Wells and Barkerville, BC. The Project, named the Big Valley Joint Venture, is collaboration between Eastfield Resources with a 70% interest and Badger Minerals Limited with a 30% interest. The 2014 program expanded on reconnaissance field work completed in 2013. The program included further data review, prospecting, soil sampling and 14.9 line km of induced polarization (IP) and magnetic surveying
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 sulfide mineralization located on parts of the properties underpin the targeting objectives for the development of the project. While Barkerville style mineralization is believed to be the most likely analogue for targets so far generated volcanic hosted massive sulfide style mineralization (VMS) cannot be ruled out. Boulders sampled by Eastfield and by previous parties have included values as high as 24.3% copper and 19.6 g/t silver. Three claim groups have now been acquired which are named Hedge Hog, Antler and CR. Highlights of the exploration of these properties to date includes:
In 1988 and 1989 Noranda followed up on anomalous gold in heavy mineral anomalies in the vicinity of a drainage they named Arsenic Creek and put in a 2.3 km by 1.5 km soil sampling grid that resulted in outlining a 1.0 km by 0.5 km arsenic anomaly oriented north-south. Two high gold values of 40 and 90 ppb were associated with arsenic values of 2,100 and 400 ppm. These gold-arsenic bearing samples occur at the southernmost end of the arsenic anomaly.
A 4.8 km IP and magnetic geophysical survey was completed along four lines of the old grid and resulted in the outline of an approximately 800 m long by 200 m wide IP chargeability anomaly coincident with the upslope southern end of the geochemical anomaly. The IP anomaly trends northwesterly and is open to the northwest.
Prospecting on the property discovered two separate arsenical quartz vein occurrences carrying anomalous gold. These occurrences are to the north and east of the grid area but indicate that quartz vein systems exist in the area and verify the likelihood of the IP anomaly being sourced by quartz vein systems.
This new target will require further grid work to find the limits of the anomaly and possibly trench or drill testing as there are no bedrock exposures in the grid area.
The target on the antler property was outlined by exploration work by Esso in 1981 and later by a prospector in 1993 and then in 1997 by Eureka Resources. Several soil geochemical anomalies were outlined, up to 500 m long with some coincident gold values. Esso sampled a quartz-carbonate stockwork zone that returned 11.2 g/t gold across 1.0 m. In an area 1.5 km to the northwest, massive sulphide boulders were sample in 1993 that returned 4.8 g/t gold with 1.9% copper and 4.7 g/t gold with 6.96% copper. Also in this area a quartz-carbonate stockwork was sampled and yielded values up to 0.23 g/t gold across 1 m.
Five widely spaced reconnaissance grid lines were placed across these areas and 5.4 km of IP and magnetic geophysical surveys were completed. Weak IP chargeability responses were noted in the areas of the showings but no definitive anomaly was outlined. Further prospecting will be required to try to locate the source of the massive sulphide boulders and the extent and controls on the gold bearing showings.
Hedge Hog Property:
The Hedge Hog property has several notable targets and occurrences which include an active placer gold operation and fault controlled gold bearing quartz vein systems. Additionally, the Lottie massive sulphide boulders assaying up to 24% copper have been discovered; to date, the source for these boulders has not been identified. Follow-up work in 2014 included the placement of a soil grid on the Golden Sky target where fault controlled quartz veins have been discovered. Soil sampling defined a gold-arsenic-antimony anomaly coincident with the vein occurrence. Rock sampling of the occurrence returned 0.67 g/t gold across 3 m. Further work will be required in this area. Additionally, two copper-nickel soil anomalies over 800 m in length were outlined in an area where no outcrop has been found. Further work will be required to determine the source of these anomalies.
A 4.7 km reconnaissance IP and magnetic geophysical survey was completed along logging roads to assess the Lottie target. Extensive strong IP chargeability anomalies were located, most of which are interpreted to reflect locally occurring graphitic shales that also contain bedded syngenetic pyrite, pyrite veinlets and silicification. Massive sulphide occurrences could be hosted in the vicinity of the IP anomalies in proximity to the shale units. A separate anomaly west of the main feature suggests a different source. Further work in this area is required to determine the sources of both the IP anomalies and the massive sulphide boulders.
Three year exploration permits were received from the Ministry of Mines and Petroleum Resources in late July and included further grid work, excavator trenching and drilling which have not yet been completed.
G. L. Garratt, P. Geo.
V. P., Director
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; it currently has a number of significant projects in British Columbia and in Nevada. Eastfield trades on the TSX Venture exchange under the symbol "ETF". For more information, please visit the company's website at www.eastfieldresources.com.
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