Director Resigns | MarketScreener

(via TheNewswire)

 

Vancouver, B.C.TheNewswire –January 11, 2022Eastfield Resources Ltd. (TSXV:ETF) (“Eastfield”)announces that Alan Scott has resigned as Director of the Company effective December 31, 2021 where he has served since 1987.  Alan has been a valuable resource for Eastfield largely through his expertise in the field of geophysics with much of his career, prior to his appointment as Director of Eastfield, spent as a staff Geophysicist with Cominco Ltd. Eastfield thanks Alan for his many years of assistance and guidance and wishes him health and prosperity in the future.

 

For more information, please visit the company’s website atwww.eastfieldresources.com.

 

J.W. Morton, P. Geo.

President and CEO

 

Contact:  (604) 681-7913 or Toll Free: 888-656-6611

 

About Eastfield Resources:

 

Eastfield Resources is a well-funded Canadian mineral exploration company focused on the discovery of precious metal and copper deposits. Eastfield also holds a strategic position in Consolidated Woodjam Copper consisting of approximately 10% of its outstanding shares and additional cashand marketable securities totaling $1.7 million.  A summary of active projects is as follows:

 

Zymo: copper-gold porphyry, located 70 km west of Smithers, BC and 100% owned. Results include drill holes ZY08-07 with 0.72% copper and 0.66 g/t gold over 72 meters and hole ZY11-20 with 0.28% copper and o.34 g/t gold over 126 m. Peripheral precious metal veins have returned up to 10.78 g/t gold. Work completed in 2021 included expansions to the induced polarization and soil grids at a cost of approximately $400,000. Zymo is fully permitted.

 

Iron Lake:copper-gold- palladium-platinum-cobalt, located 40 kilometers northeast of 100 Mile House, BC. The project is optioned to Tech-X Resources Inc. (a private company headed by Haig Farris). Targets include ultramafic copper-gold- palladium-platinum-cobalt and porphyry copper-gold. Tech-X may earn an 80% interest in Iron Lake by completing a total of $12,000,000 in work and paying a total of $1,000,000 in option payments by December 31, 2027. Work competed in 2021 included an airborne MobileMT survey flown by Expert Geophysics Limited In June and extensive geological reconnaissance and sampling later in the season. Drilling is planned for 2022.

 

Indata: copper-gold porphyry and precious vein, located 120 km north of Fort St. James, BC, optioned to Prophecy Potash Corp who may earn 60% by completing $2,000,000 in exploration and  paying $450,000 (cash and/or shares)over a five year term. A number of very prospective untested induced polarization targets exist and are fully permitted. Results from previous drilling include DDH88-11 with 47.26 g/t gold over 4 m and DDH98-4 with 0.20% copper over 148 m including 0.37% copper over 24 m at the bottom. In 2019 new mineralization was exposed by logging activities in the southern region of the claims with samples returning up to 3.64% copper and 5.95 g/t gold. The Kwanika and Stardust deposits, owned by Northwest Copper Corp., are located immediately north of Indata and share similar geology.

 

Hedgehog: copper-gold (VMS) and lode gold, located approximately 12 kilometers north of the community of Barkerville, BC. In 2021 option partner West Oak Gold Corp discovered several new anomalies including soil copper to 0.22% and an areas of highly anomalous arsenic and lead which motivated the company to expand the claim group. Single point soil anomalies reach 819 ppb gold, 444 ppm arsenic and 2,210 ppm copper. The company is particularly intrigued by the soil sample with 2,210 ppm copper and 8.45% iron.  Interest in this sample is inspired by previous float samples collected further south on the property including a massive sulfide boulder grading 24.3% copper and 19.6 g/t silver collected in 1999 and five chalcopyrite rich massive boulders with an average grade of 8.0% copper, 8.9 g/t silver collected by Hudson Bay Exploration and Development in 2000. In 2013, Eastfield discovered the Golden Sky showing, a new area of mineralization in the northern region of the claims where quartz veins hosted in sheared rhyolite returned grab samples to 1.51 g/t gold, 1.37% zinc, 0.48% lead, 1,203 ppm arsenic and 1,313 ppm antimony.

 

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.

Copyright (c) 2022 TheNewswire – All rights reserved.

Copyright (c) 2022 TheNewswire – All rights reserved., source Press Releases

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