Tickers: XTSX:ETF
Tags: Mining
Vancouver, BC / TheNewswire / November 15 2017 / Eastfield Resources Ltd. ("Eastfield") (TSX-V: ETF) is pleased to announce that it has entered into an option agreement with Copper Creek Gold Corp. ("Copper Creek") (TSX-V: CPV) granting Copper Creek an option to earn a 60% interest in its Hedge Hog Project located 15 kilometers north of Barkerville, BC. Terms of the agreement require Copper Creek to make payments totaling $350,000, make share issuances or pay cash valued at an additional $150,000 and complete $2,500,000 in exploration by the 5th anniversary of the agreement. The Hedge Hog property consists of 7 mineral tenures covering an area of 2,418 hectares (5,975 acres).
Hedge Hog was acquired by staking by Eastfield in 2013. It primarily targets Besshi style copper rich massive sulfide mineralization occurring in Paleozoic aged Antler formation rocks and secondly quartz carbonate lode gold mineralization hosted in slightly older Barkerville-Kootenay Terrane rocks similar to what occurs in the historic gold mines of the Barkerville-Wells area.
Historical exploration in the area of the current claims started in 1998 with the discovery of an angular boulder of mineralized chert grading 24.3% copper and 19.6 g/t silver. Excavator trenching completed in 2000 by Hudson Bay Exploration and Development, who at the time optioned the area from then owner Eureka Resources Inc., discovered several boulders of similarly styled mineralization with the average of all samples (seven) being 8.7% copper, 9.59 g/t silver and 145 ppb gold. Subsequent drilling, 6 holes (684 meters) and mechanical trenching failed to find the bedrock source of this mineralization and Hudson Bay withdrew in 2001 and the claims, owned by Eureka Resources Inc., lapsed in 2013 and were re-staked by Eastfield.
Eastfield has since collected and analyzed 63 rock, 542 soil and 50 silt samples and completed 48 excavator test pits on the claims and completed 4.7 kilometers of reconnaissance induced polarization surveying. Highlights include grab samples reaching 1.51 g/t gold, 1.37% zinc, 0.48% lead, 1,203 ppm arsenic and 1,313 ppm antimony in the Golden Sky area and mineralized pyritic shale grading 797 ppb gold and 550 ppm arsenic in the Lottie Lake area as well as several more massive sulfide boulders (many samples analyzed did not return significant base or precious metal values).
Copper Creek has indicated that its proposed 2018 program will focus on further grid work and mechanical trenching.
J. W. Morton, P.Geo, who is a qualified person within the context of National Instrument 43-101, has read and takes responsibility for this news release.
J.W. Morton, P. Geo.
President and CEO
Eastfield Resources Ltd.
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 precious metal and copper deposits. Eastfield owns a 100% interest in five mineral projects in British Columbia. Eastfield trades on the TSX Venture exchange under the symbol "ETF". For more information, please visit the company's website at www.eastfieldresources.com.
Copyright (c) 2017 TheNewswire - All rights reserved.
