News Release - March 30, 1998 Fort Project Petrographic Study Completed
Babine Lake Area, British Columbia
Spring break up is now occurring at the Fort Project located 90 kilometers west-northwest of Fort St. James BC and 100 kilometres southeast of Smithers BC. Roads are expected to be sufficiently dry by early May for fieldwork to begin. The Fort Property consists of 492 claim units (120 square kilometres) which cover a new copper-molybdenum-silver discovery found in the late 1997 and optioned by Eastfield in December 1997. Eastfield has subsequently entered into an agreement with Ascot Resources Ltd. whereby Ascot may earn a fifty per cent interest in the project by making payments to Eastfield totaling $705,000, issuing 200,000 shares and funding $1,500,000 in exploration before the fourth anniversary.
Copper-molybdenum-silver mineralization has been shown to occur in an area of 400 by 700 meters and is open in every direction. A number of samples were collected and submitted to Vancouver Petrographics Limited in order to better qualify the modes of mineralization, alteration and the nature of the hosting rocks. Microscope slides were prepared and petrographic analyses completed for six samples. Three of the samples were from the immediate area of the Specularite Lake showing while three samples were from other exposures encountered during staking.
Two of the three samples examined from the area of the Specularite Lake showing were established to be strongly altered monzonite. An intense form of potassium alteration is described here on the basis of abundant secondary K-feldspar (orthoclase), abundant green biotite and secondary hydrothermal silica. The consultant notes that this form of alteration is characteristic of the core zone of a porphyry hydrothermal system.
A third sample, collected by the staking crews from an exposure located approximately 3 kilometres northwest of the Specularite Lake showing, was also classified as an altered and brecciated monzonite.
The Specularite Lake showing has returned an impressive number of mineralized samples from a 700 metre by 400-metre area. The initial nine samples from this area contained up to 1.57-% copper, 0.15% molybdenum and 7.8-oz/t silver. The average value of eight of these samples (removing the highest grade sample) was 0.34% copper, 175 ppm molybdenum and 72.3 ppm silver (2.1 oz/t).
Management of Eastfield and Ascot are encouraged that the recently completed petrographic study supports earlier conclusions that a major new discovery may be at hand on the Fort Property.
Website: direct.ca
J.W. Morton P.Geo.
Eastfield Resources Ltd.
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