Eastfield Resources Reports Recent Activity near the Tonopah-Hughes Gold-Silver Project, Nevada
05.12.2012 | The Newswire
Vancouver, BC, December 5, 2012, Eastfield Resources Ltd. ("Eastfield") (TSX-V: ETF) reports that recent activity in the Tonopah area of Nevada has resulted in Eastfield reevaluating its Tonopah property, now renamed the Tonopah-Hughes Property. The Tonopah-Hughes consists of twenty-five fee simple claims (patented claims) acquired from Echo Bay Mines Limited (now Kinross Gold Corporation) in 1996. The claims, which encompass an area of approximately 162 hectares (400 acres) had, prior to Echo Bay, been assembled by Summa Corporation under the direction of the late Howard Hughes. On November 27, 2012 Allied Nevada Gold Corp. ("Allied Nevada") (TSX: ANV) announced a new discovery to the east and south of the historic resource area of its Three Hills gold project located immediately west of the community of Tonopah and south of the Eastfield-owned claims. Allied Nevada reported the discovery of two new areas of mineralization in this area including an intercept of 66.0 m grading 3.3 g/t gold and 2.4 g/t silver with a higher grade core of 11.0 m grading 18.5 g/t gold and 9.2 g/t silver. The Eastfield-owned claims are partly contiguous with the Allied Nevada Gold claims and overlie a portion of the north end of the historic Three Hills resource.
In 1997 Eastfield completed drill hole TH-97-16, collared on its Protection claim, which returned separate intercepts of 7.55 g/t gold and 288.0 g/t silver over 3.1 m from 153.9 m to 157.0 m and 1.89 g/t gold and 102.9 g/t silver over 3.1 m from 189.0 m to 192.1 m, respectively. No further work has since been completed.
The Tonopah area was one of the most important gold-silver lode mining districts in the State of Nevada with reported production between 1900 and 1942 of 1.8 million ounces of gold and 174 million ounces of silver from 8.2 million tons of rock (implying an average recovered grade of 8.23 g/t gold and 795.4 g/t silver per tonne processed). The Eastfield-owned claims represent a large portion of the hypothesized western (and unmined) extension of the historic Tonopah district. The company is encouraged by the new discovery announced by Allied Nevada.
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 Canadian mineral exploration company focused on the discovery of large gold and copper deposits; it currently has projects in British Columbia and in Nevada. Current projects include a 100% interest in the Zymo copper-gold property in BC, a 40% ownership in the Okeover copper-molybdenum project in BC with 60% partner Prophecy Resource Corp. (TSX-V: PCY), a 100% interest in the Tonopah-Hughes gold-silver project in Nevada and a 100% interest in the Iron Lake, Naggie and Hidden One base and precious metals projects in BC. Projects currently optioned out include the Indata gold project in BC, optioned to Oceanside Capital Corp. (TSX-V: OCC) who can earn up to a 60% interest. Eastfield trades on the TSX Venture exchange under the symbol "ETF". For more information, please visit the company's website at www.eastfieldresources.com.
Contact:
Eastfield Resources Ltd.
Paul Way, Business Development Manager
(604) 681-7913 or
Toll Free: 888-656-6611