Seafield Reports Drilling Results from the Porphyry-Style Dosquebradas Target at Its Quinchia Gold District Project, Colombia
TORONTO, ONTARIO -- (Marketwire) -- 07/25/11 -- Seafield Resources Ltd. (TSX VENTURE: SFF) ('Seafield' or the 'Company') is pleased to announce the drill results from the Dosquebradas area as part of its ongoing exploration program at its Quinchia gold project in the Department of Risaralda, Colombia.
The Dosquebradas area is 3 kilometres northwest of the Miraflores gold deposit, where Seafield has previously announced a measured and indicated resource of 1,227,593 ounces of gold grading 0.9 g/t gold contained in 44,717,000 tonnes at a cut off grade of 0.3 g/t Au (see press release dated May 26, 2011).
The current diamond drill program at Dosquebradas was planned to test a gold-in-soil anomaly in an area where in 2006, AngloGold Ashanti drilled a total of 587 meters in two holes. Seafield's goal for the Phase I Drilling just completed was to expand on these AngoGold Ashanti holes and obtain information to understand the geology and nature of the mineralization.
Seafield President, Cesar Lopez, stated, 'Seafield was successful in accomplishing the goal of the Phase I drilling at Dosquebradas, as we have now defined where the strong mineralization is and the direction of its extension. Now that we understand more about the geology, we will implement the Phase II drilling program which will follow on the mineralized areas that returned greater than 0.3 g/t intercepts, for the purpose of developing at least an inferred mineral resource at Dosquebradas.'
To date a total of 5,648 metres have been drilled in thirteen holes (nearly double the amount that was originally announced in the Company's press release dated December 8, 2010). The program was designed to trace northwards and delineate the gold mineralization associated with the Dosquebradas quartz diorite porphyry intrusion. Assay data have now been received for all thirteen holes of the program and the significant results are listed in the table below.
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Hole No. From (m) To (m) Interval (m) Au (g/t)
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PREVIOUSLY REPORTED
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QDQ-DH-01 0.00 268.80 268.80 0.37
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inc 20.10 31.20 11.10 2.00
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and 52.70 69.20 16.50 1.18
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and 181.20 257.90 76.70 0.45
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QDQ-DH-02 0.00 511.50 511.50 0.58
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inc 122.10 421.00 298.90 0.81
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inc 122.10 322.00 199.90 0.98
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inc 197.20 234.20 37.00 1.66
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and 266.20 302.35 36.15 1.98
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and 378.80 421.00 42.20 0.72
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QDQ-DH-03 No significant intersections
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NEW RESULTS
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QDQ-DH-04 8.10 390.60 382.80 0.20
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inc 10.90 170.90 160.00 0.29
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inc 84.50 153.10 71.60 0.40
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inc 96.85 120.70 23.85 0.48
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and 129.50 143.40 13.90 0.65
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and 217.50 228.80 11.30 0.42
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and 241.10 254.00 12.95 0.30
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QDQ-DH-05 No significant intersections
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QDQ-DH-06 0.00 569.40 569.40 0.23
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inc 0.00 160.00 160.00 0.28
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inc 15.10 112.00 96.90 0.37
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inc 64.00 79.00 15.00 0.58
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and 230.5 567.90 337.40 0.24
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inc 310.40 354.00 52.65 0.37
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inc 389.40 438.20 48.80 0.50
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QDQ-DH-07 No significant intersections
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QDQ-DH-08 No significant intersections
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QDQ-DH-09 86.4 502.40 416.00 0.19
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inc 237.7 252.35 14.65 0.38
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and 356.4 370.40 14.00 0.33
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and 478.4 490.40 12.00 0.90
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QDQ-DH-10 No significant intersections
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QDQ-DH-11 31.5 108.60 77.05 0.38
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QDQ-DH-12 197.9 205.90 8.00 0.31
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and 236 242.30 6.30 0.40
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QDQ-DH-13 4.5 367.70 363.20 0.30
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inc 278 338.40 60.40 0.63
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Note: Cut-off grade 0.1 g/t Au. Intersections above 0.4 g/t Au are
highlighted.
Grades reported are uncut. (There are no high grades that require
cutting.)
To view the 'Dosquebradas Project Drill Hole Plan Map,' please visit the following link: http://media3.marketwire.com/docs/sfr_fg1_725.jpg
The drill hole pattern was laid out across the Dosquebradas area to test the general district trend of porphyry intrusive rocks to the north as well as associated north-trending structures and the coincident gold in soil anomaly (see map above).
The best gold mineralization to date at Dosquebradas is associated with an Early Diorite porphyry and associated intrusive breccias shown on the above map. The grades above 0.3 g/t gold are concentrated in a zone approximately 250 meters wide (E-W) and greater than 300 meters long (N-S). The zone is open at depth and is interpreted to plunge to the north. This zone was intersected by holes QDQ-DH-02, with 511.5 m at 0.58 g/t Au including 199.9 m at 0.98 g/t Au (reported in press release of March 7, 2011) and QDQ-DH-13 with 60.4 m at 0.63 g/t Au. This is part of a larger porphyry system at least 600 meters long (N-S) by 600 meters wide (E-W). Other drill holes intersected lower grades of gold mineralization associated with inter-mineral and late diorite porphyries and breccias and basalt wall rock.
Trench sampling of the Early Diorite porphyry by Seafield returned 1.75 g/t Au over 94 m (see press release of December 8, 2010).
AngloGold Ashanti, a previous operator, drilled two shorter holes in 2006 on the same section as QDQ-DH-02. Hole DQ-DD-2 returned 0.62 g/t Au, 0.07% Cu over 68 meters and 0.90 g/t Au, 0.10 % Cu over 36 meters. Hole DQ-DD-3 drilled at -60 degrees returned grades of 0.63 g/t Au over 90.0 meters and 1.67 g/t Au over 39.5 meters.
Seafield has started a second diamond drill program of 5,635 meters in 12 holes over an area of approximately 300m x 200m with two drill rigs in order to better define the gold mineralization in the Early Diorite porphyry and be able to make a mineral resource estimate.
Qualified Person
Stewart D. Redwood, Consulting Geologist to Seafield, is a qualified person as defined by National Instrument 43-101 and prepared or reviewed the preparation of the scientific and technical information in this press release with respect to the assay results from the Miraflores drill program. Dr. Redwood is a Fellow of the Institute of Materials, Minerals and Mining (Number 47017), a professional association and designation recognized by the Canadian regulatory authorities. Dr. Redwood verified the data disclosed in this release, including the sampling, analytical and test data underlying the information contained in this release. Verification included a review and validation of the applicable assay databases and reviews of assay certificates.
Sample Collection, Preparation, Analyses and QA-QC
The core samples were split by rock saw and half of the core was sampled. Core samples were prepared by SGS laboratory in Medellin and were assayed at the SGS laboratory in Lima, Peru. Gold was analyzed by fire assay on a 30 gram sample with atomic adsorption spectrophotometer (AAS) finish. Samples above 5.0 g/t Au were repeated by fire assay on a 30 gram sample with gravimetric finish. Multielements were analyzed by inductively coupled plasma mass spectroscopy (ICP-MS) following multiacid digestion. Blank, standard and duplicate samples were routinely inserted for quality assurance and quality control.
About Seafield
Seafield Resources Ltd. is a mineral exploration company focused on acquiring and advancing precious metals projects in Colombia. Seafield's flagship Quinchia project is located in the prolific Mid-Cauca gold belt with a land position spanning 6,757 hectares. For more details, please visit www.sffresources.com.
This news release includes certain 'forward looking statements' within the meaning of that phrase under Canadian securities laws. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. Forward-looking statements reflect management's current views with respect to possible future events and conditions and, by their nature, are based on management's beliefs and assumptions and subject to known and unknown risks and uncertainties, both general and specific to the Company. Although the Company believes the expectations expressed in such forward-looking statements are reasonable, such statements are not guarantees of future performance and actual results or developments may differ materially from those in our forward-looking statements. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of commodities, general market conditions, risks inherent in exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. Additional information regarding the material factors and assumptions that were applied in making these forward looking statements as well as the various risks and uncertainties we face are described in greater detail in the 'Risk Factors' section of our annual and interim Management's Discussion and Analysis of our financial results and other continuous disclosure documents and financial statements we file with the Canadian securities regulatory authorities which are available at www.sedar.com. The Company undertakes no obligation to update this forward-looking information except as required by applicable law. The Company relies on litigation protection for forward looking statements.
Neither 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 release.
Contacts:
Seafield Resources Ltd.
David MacMillan
Investor Relations
416-367-4571 ext. 226
dmacmillan@sffresources.com
www.sffresources.com