Eastfield Resources (ETF-V) April 4th 2014 due to recent shareholder inquiries, has provided an update on recent activity in the Tonopah area of Nevada near its 100-per-cent-owned Tonopah-Hughes property. The Tonopah-Hughes property consists of 26 patented claims encompassing an area of approximately 400 acres (162 hectares).
On Jan. 27, 2014, West Kirkland Mining Inc. entered into an agreement with Allied Nevada Gold Corp. to acquire the Three Hills and Hasbrouk Mountain gold project. Three Hills is located immediately west of the community of Tonopah and south of the Eastfield-owned claims. The Eastfield-owned claims are partly contiguous with the West Kirkland claims and overlie a portion of the north end of the historic Three Hills resource.
West Kirkland recently released an updated resource for the Three Hills property, resulting in measured and indicated resources of 8,504,000 tons grading 0.018 ounce per ton gold (0.62 gram per tonne Au) for 151,000 ounces of gold, and inferred resources of 11,002,000 tons grading 0.014 ounce per ton gold (0.51 g/t Au) for 154,000 ounces of gold. The Three Hills deposit is an oxidized, low-sulphidation, epithermal disseminated gold deposit amenable to a low-cost, heap-leach operation.
In 1997 Eastfield completed drill hole TH-97-16, collared on its protection claim, which returned separate intercepts of 7.55 g/t Au and 288.0 g/t silver over 3.1 metres from 153.9 m to 157.0 m, and 1.89 g/t Au and 102.9 g/t Ag 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 Au and 795.4 g/t Ag processed). The Eastfield-owned claims represent a large portion of the hypothesized western (and largely unmined) extension of the historic Tonopah district. The company is encouraged to see the Three Hills project move forward.
J.W. Morton, PGeo, who is a qualified person within the context of National Instrument 43-101, has reviewed and takes responsibility for this news release. |
