Posts Tagged Zymo

Eastfield Resources Announces the Return of the Zymo Project

Eastfield Resources Ltd. has received notification that that NGEx Resources Inc. (formerly Canadian Gold Hunter Corp.) has terminated its option to earn an interest in the 10,790-hectare Zymo copper-gold property, 45 kilometres by road west of Smithers, B.C. Eastfield is currently planning the next program on this project and expects to conduct a significant exploration program on the property this season. Eastfield has an option to earn a 100-per-cent interest subject to a net smelter royalty in the Zymo property from a private company.

Eastfield optioned the property in 2007. It completed a reconnaissance exploration program that year, which resulted in the discovery of a new copper-gold porphyry occurrence now named the Hobbes zone. In 2008, an extensive exploration program of geochemical sampling, geophysical surveying, geological mapping and core drilling significantly expanded the property’s potential. An induced polarization chargeability anomaly associated with extensive rock alteration was outlined, extending for over six km (open-ended) with widths of two to three km. Within this large area are four exploration targets now known as the FM (where Freeport McMoRan drilled six holes in 1999), Hobbes, RD and URC.

The Hobbes zone is the most advanced to date and has been tested with nine drill holes. All holes intersected significant mineralization and have outlined an open-ended, mineralized zone that extends more than 600 metres. The most westerly hole, ZY-09-16, intersected the longest interval of mineralization to date and indicates the potential for extensions, to the west and south. Hole ZY-09-14 was a vertical hole drilled at the site of ZY-08-9 (72.0 m of 0.72 per cent copper and 0.54 gram per tonne gold) and ZY-09-10 (57.0 m of 0.43 per cent copper and 0.32 g/t gold), and confirmed that mineralization continues to greater depths at this location where a mineralized interval of 273 m was intersected. ZY-08-12, located one km southwest of the Hobbes zone, intersected 99.00 m of 0.11 per cent Cu and may indicate a significant potential for extending the zone in this direction (for details, additional information including maps may be viewed on the company’s website).

The URC target is 1.5 km west of the Hobbes zone and is characterized by a 1.5-kilometre-long, coincident, copper-gold-in-soil anomaly. This target is beyond the end of the geophysical grid in an area with no outcrops. However, a sample of mineralized float was found in this area that returned 0.33 per cent copper and 0.22 g/t gold. This untested target further expands the discovery potential for the property.

Eastfield is pleased to have the Zymo property returned with significant advancements and new targets. The company is excited about the exploration potential of the project. Eastfield is currently developing plans for a program this season.

G.L. Garratt, PGeo, who is a qualified person within the context of National Instrument 43-101, has read and takes responsibility for this news release

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