Eastfield Resources Ltd. (TSXV:ETF) and Prophecy Potash Corp. (TSXV:NUGT) have completed their 2019 program at the Indata property.
Eastfield Resources Ltd. (TSXV:ETF) (“Eastfield”) and Prophecy Potash Corp. (TSXV:NUGT) (“Prophecy Potash”) have completed their 2019 program at the Indata property. The program consisted of prospecting and rock sampling, expanded geochemical grid in several areas of the property, road construction and excavator trenching.
The Indata property totaling 3,189 hectares (7,880 acres) is located approximately 120 kilometers northwest of the community of Fort St. James, British Columbia and 230 kilometers northwest of the City of Prince George. It is situated in and adjacent to the Pinchi Fault Zone with the northern boundary being approximately 7 kilometers south of the southernmost boundary of the Stardust Project (Sun Metals Corp.) and 10 kilometers south of the Central Zone of the Kwanika Deposit (Serengeti Resources Inc.). Terrain is flat to hilly and below tree line with elevations varying from 940 to 1,290 meters (3,100 to 4,200 feet). Access is excellent with logging operations currently occurring in the southern region of the property.
Three styles of mineralization exist at Indata including lode gold related to splay structures in the Pinchi Fault Zone where results have included drill intercepts of 47.26 g/t gold over 4.0 meters (with many lesser values) and porphyry copper mineralization where results have included drill intercepts of 0.20% copper over 148 meters and trench intercepts of 0.36% copper over 75 meters (with many lesser values). In 2007 a significant new target was developed in the northwest side of the property in an area underlain by limestone. Here soils are strongly anomalous in lead, zinc, gold, manganese and antimony. This anomaly is situated in carbonate rocks similar in character and in proximity to the Pinchi Fault as is the case at the Stardust Project located 18 kilometers to the north. In 2019 a road was constructed into this area to facilitate future work.
Highlights of the current program include the discovery of previously unknown mineralized gabbro/diorite intrusive in the south central part of the property where outcrop sampling returned samples varying from weakly mineralized (987 ppm copper and 66 ppb gold) to highly mineralized (3.64% copper and 5.95g/t gold) in select grab samples. Geophysical surveying is planned in this area in 2020.
Continued sampling 3.8 kilometers to the northwest of this area yielded a number of well mineralized outcropping mafic volcanic rocks believed to be altered by an adjacent granodiorite intrusion, with samples including (4,813 ppm copper and 102 ppb gold), (2,491 ppm copper and 224 ppb gold) and (2,446 ppm copper and 32 ppb gold). This mineralization is interpreted to be an extension to the Lake Copper Zone located 500 meters to the northwest resulting in a revised estimate the areal extent of the Lake Copper Zone to approximately 800 meters by 400 meters.
Indata is subject to a 2018 option agreement with Prophecy Potash Corp. (TSX-V: NUGT) (“Prophecy Potash”) whereby Prophecy Potash may earn a 60% interest in the project by making $400,000 in option payments (cash and/or shares) and completing $2,000,000 in exploration work by June 20, 2023. Imperial Metals Corporation (TSX: III) (“Imperial Metals”) holds a 8.5% working interest (subject to dilution) in the Indata Project.
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 holes 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.