NEWS RELEASE - February 2, 1998 - 120 square kilometres staked,
Babine Lake, British Columbia
The Fort Project, 90 kilometers west-northwest of Fort St. James, B.C., is a new copper-molybdenum discovery found by a local prospector in the late fall of 1997 and optioned by Eastfield in December, 1997. Ascot Resources Ltd. has taken an option from Eastfield to earn a fifty per cent interest in the project, and has funded a claim staking program which is now completed.
Two helicopter supported staking crews added 452 new claims to bring the total holding to 492 units, covering an area of approximately 120 square kilometers. The staking was guided by interpretation of government airborne magnetic data and the location of known mineral occurrences in the region of the new discovery.
Copper-molybdenum-silver mineralization has been shown to occur in an area of 400 by 700 meters and is open in every direction. The alteration and style of mineralization suggests a porphyry style of deposit, offering significant open pit, large tonnage potential. Eastfield and Ascot are discussing an exploration program that will include geologic mapping, geophysical surveying and geochemical sampling. This first phase program is expected to begin in late April if spring conditions allow. A second phase drilling program to test this exciting new discovery will follow in mid to late summer.
G. L. Garratt, P. Geol.
Eastfield Resources Ltd.
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