Welcome!

News Feed Item

Seafield Drills 57.3 m at 1.29 g/t Au and 1.69 g/t Ag, Including 15.5 m at 2.63 g/t Au and 2.61 g/t Ag

TORONTO, ONTARIO -- (Marketwire) -- 02/06/13 -- Seafield Resources Ltd. ("Seafield" or "the Company") (TSX VENTURE:SFF) is pleased to announce assay results from 5 drill holes carried out as part of the ongoing 6,800-metre infill diamond drilling program at the Company's Miraflores Deposit in the Quinchia District, Department of Risaralda, Colombia.

Highlights:


--  Drill hole QM-DH-47 intersected 57.3 m of 1.29 g/t Au and 1.69 g/t Ag,
    including 15.5 m of 2.63 g/t Au and 2.61 g/t Ag;

--  Drill hole QM-DH-44 intersected 13 m of 1.03 g/t Au and 2.63 g/t Ag. 

Details:

The assays reported in this press release represent the results of five diamond drill holes, which account for an additional 757.5 metres. To date, 1,923 metres have been drilled since November, 2012 (See Figure 1). The additional drill results confirm the continuity of high grade mineralization in structures and lower grade mineralization in the breccia pipe cement and matrix. The closer spacing in the drilling grid will increase the confidence in the current geological model and resource.

Table 1 below summarizes the gold and silver assay results of the five diamond drill holes.

Table 1 - Drill Results:


                            From         To   Interval         Au         Ag
Drill Hole                   (m)        (m)        (m)      (g/t)      (g/t)
----------------------------------------------------------------------------
QM-DH-44                      45        105         60       0.69       1.68
Including                   74.4       87.4         13       1.03       2.63
QM-DH-45                     0.7        121      120.3       0.47        1.5
including                   83.2        110       26.8       0.89       1.83
And                       127.25     179.15       51.9       0.35       0.96
And                       202.25      239.4      37.15       0.45       1.63
QM-DH-46                       3       51.4       48.4       0.52       0.91
And                         61.4        122       60.6       0.50       2.16
And                        127.8      138.8         11       0.46       1.41
QM-DH-47                    28.7         86       57.3       1.29       1.69
Including                   48.4       63.9       15.5       2.63       2.61
QM-DH-49                    31.3         72       40.7       0.62       1.03
And                        77.15     102.85       25.7       0.36       0.96
And                        122.4     137.15      14.75       0.69        1.2
And                        159.4        175       15.6       0.46       0.75

Note: Only continual intervals of mineralization above 6 metres with a cut-off grade of 0.2 g/t Au are reported.

Table 2 - Drill Hole Coordinates:


Drill        Easting   Northing  Elevation     Azimuth Inclination     Depth
 Hole            (m)        (m)        (m)   (degrees)   (degrees)       (m)
----------------------------------------------------------------------------
QM-DH-44     423,057    585,013      1,475         256         -47    105.00
QM-DH-45     423,127    585,033      1,434         257         -45    250.00
QM-DH-46     423,034    585,139      1,493         265         -47    141.50
QM-DH-47     423,116    585,061      1,436         257         -50     86.00
QM-DH-49     423,073    585,051      1,459         257         -47    175.00

The azimuth, dip and total length of each drill hole is shown in Table 2. Each hole was collared within the breccia pipe and was successful in confirming the vertical and horizontal extension of nearby mineralization. Figure 1 shows the location of each hole and the vertical section for each hole is shown in Figures 2 to 6 (see below).

Seafield expects to finalize its infill drilling program by the end of Q1 2013. This information will be used to update the resource model in Q2 2013 that will be the basis for the Miraflores feasibility study.

"These drill results continue to highlight gold and silver mineralization at Miraflores," commented Cesar Lopez, Seafield's President and CEO. "As we continue to tighten up the drill spacing, we look forward to incorporating these and the remaining assay results in our updated resource model and PEA on the deposit in Q2 2013."

Seafield's Miraflores Deposit is situated in the Company's 100%-owned, 6,757-hectare, Quinchia Gold Project. Miraflores is a low sulphidation epithermal deposit located in Colombia's mineral-prolific Mid-Cauca gold belt. The deposit's mineralization is characterized by a hydrothermal breccia pipe with free gold associated with cement materials (the matrix) and high grade structures where gold is associated with zinc, lead, copper and iron. At surface, the breccia pipe has a drill-tested diameter of 250 metres by 280 metres. The breccia pipe widens and remains open at depth with a drill-tested vertical extent of 600 metres.

To view Figure 1, please visit the following link: http://media3.marketwire.com/docs/sff0206fig1.pdf.

To view Figure 2, please visit the following link: http://media3.marketwire.com/docs/sff0206fig2.pdf.

To view Figure 3, please visit the following link: http://media3.marketwire.com/docs/sff0206fig3.pdf.

To view Figure 4, please visit the following link: http://media3.marketwire.com/docs/sff0206fig4.pdf.

To view Figure 5, please visit the following link: http://media3.marketwire.com/docs/sff0206fig5.pdf.

To view Figure 6, please visit the following link: http://media3.marketwire.com/docs/sff0206fig6.pdf.

Review by Qualified Person, Quality Control and Reports

Giovanny Ortiz, Vice President of Exploration for Seafield Resources Ltd., 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 drilling program. Mr. Ortiz is a Fellow of the Australasian Institute of Mining and Metallurgy (Membership # 304612) a professional association and designation recognized by the Canadian regulatory authorities. Mr. Ortiz 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.

The core samples were split by rock saw, and half of the core was sampled. Core samples were prepared by ALS Colombia Ltda in Medellin and were assayed at the ALS laboratory in Lima, Peru. Gold was analyzed by fire assay on a 30 gram sample with atomic adsorption spectrophotometer (AAS) finish. Samples above 10.0 g/t Au were repeated by fire assay on a 30 gram sample with gravimetric finish. Multi-elements were analyzed by inductively coupled plasma mass spectroscopy (ICP-MS) following multi-acid digestion. Blank, standard and duplicate samples were routinely inserted for quality assurance and quality control.

For additional technical information on the Miraflores Deposit, please refer to the Company's technical report (the "Technical Report") entitled "Technical Report, Seafield Resources Ltd., Quinchia Project, Quinchia District, Republic Colombia" dated January 31, 2012, prepared by Scott E. Wilson, C.P.G., of Scott E. Wilson Consulting, Inc., available on SEDAR at www.sedar.com and on the Company website at www.sffresources.com.

About Seafield Resources Ltd.

Seafield Resources Ltd. (TSX VENTURE:SFF) is a mineral exploration company currently focused on advancing its Miraflores Gold Deposit towards feasibility level. Seafield's 6,757-hectare Quinchia Gold Project is located in the Department of Risaralda of Colombia. SRK Consulting Inc's (Denver) Preliminary Economic Assessment on the Miraflores Deposit indicates robust economics with a pre-tax internal rate of return of 50% and a pre-tax net present value (8%) of $249M (see corporate PEA presentation at http://bit.ly/MFeL7q). Miraflores currently has a NI 43-101 compliant Measured and Indicated resource estimate of 1,925,542 ounces gold at 0.8 g/t Au (77Mt at a cut-off of 0.3 g/t Au) and an Inferred resource estimate of 103,043 ounces gold at 0.6 g/t Au (5.5Mt at a cut-off of 0.3 g/t Au). Additionally, the Company has a NI 43-101 compliant resource estimate for its Dosquebradas Deposit, also part of the Quinchia Gold Project, with an Inferred resource estimate totalling 920,772 ounces gold at 0.5 g/t Au (57Mt at a cut-off of 0.3 g/t Au). Seafield Resources Ltd. trades its shares on the Toronto Venture Exchange (TSX-V) under the symbol SFF and in the United States using CUSIP 81173R101. For more details on the Company, please visit www.sffresources.com.

Forward-Looking Statement

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.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
SYS-CON Events announced today that Calligo has been named “Bronze Sponsor” of SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Calligo is an innovative cloud service provider offering mid-sized companies the highest levels of data privacy. Calligo offers unparalleled application performance guarantees, commercial flexibility and a personalized support service from its globally located cloud platfor...
"We want to show that our solution is far less expensive with a much better total cost of ownership so we announced several key features. One is called geo-distributed erasure coding, another is support for KVM and we introduced a new capability called Multi-Part," explained Tim Desai, Senior Product Marketing Manager at Hitachi Data Systems, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
SYS-CON Events announced today that SkyScale will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. SkyScale is a world-class provider of cloud-based, ultra-fast multi-GPU hardware platforms for lease to customers desiring the fastest performance available as a service anywhere in the world. SkyScale builds, configures, and manages dedicated systems strategically located in maximum-securit...
DevOps at Cloud Expo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 21st Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to w...
There is a huge demand for responsive, real-time mobile and web experiences, but current architectural patterns do not easily accommodate applications that respond to events in real time. Common solutions using message queues or HTTP long-polling quickly lead to resiliency, scalability and development velocity challenges. In his session at 21st Cloud Expo, Ryland Degnan, a Senior Software Engineer on the Netflix Edge Platform team, will discuss how by leveraging a reactive stream-based protocol,...
With tough new regulations coming to Europe on data privacy in May 2018, Calligo will explain why in reality the effect is global and transforms how you consider critical data. EU GDPR fundamentally rewrites the rules for cloud, Big Data and IoT. In his session at 21st Cloud Expo, Adam Ryan, Vice President and General Manager EMEA at Calligo, will examine the regulations and provide insight on how it affects technology, challenges the established rules and will usher in new levels of diligence...
"DX encompasses the continuing technology revolution, and is addressing society's most important issues throughout the entire $78 trillion 21st-century global economy," said Roger Strukhoff, Conference Chair. "DX World Expo has organized these issues along 10 tracks with more than 150 of the world's top speakers coming to Istanbul to help change the world."
"At the keynote this morning we spoke about the value proposition of Nutanix, of having a DevOps culture and a mindset, and the business outcomes of achieving agility and scale, which everybody here is trying to accomplish," noted Mark Lavi, DevOps Solution Architect at Nutanix, in this SYS-CON.tv interview at @DevOpsSummit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
SYS-CON Events announced today that Massive Networks will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Massive Networks mission is simple. To help your business operate seamlessly with fast, reliable, and secure internet and network solutions. Improve your customer's experience with outstanding connections to your cloud.
DX World EXPO, LLC., a Lighthouse Point, Florida-based startup trade show producer and the creator of "DXWorldEXPO® - Digital Transformation Conference & Expo" has announced its executive management team. The team is headed by Levent Selamoglu, who has been named CEO. "Now is the time for a truly global DX event, to bring together the leading minds from the technology world in a conversation about Digital Transformation," he said in making the announcement.
Internet of @ThingsExpo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 21st Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devic...
"The Striim platform is a full end-to-end streaming integration and analytics platform that is middleware that covers a lot of different use cases," explained Steve Wilkes, Founder and CTO at Striim, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
SYS-CON Events announced today that Calligo, an innovative cloud service provider offering mid-sized companies the highest levels of data privacy and security, has been named "Bronze Sponsor" of SYS-CON's 21st International Cloud Expo ®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Calligo offers unparalleled application performance guarantees, commercial flexibility and a personalised support service from its globally located cloud plat...
Everything run by electricity will eventually be connected to the Internet. Get ahead of the Internet of Things revolution and join Akvelon expert and IoT industry leader, Sergey Grebnov, in his session at @ThingsExpo, for an educational dive into the world of managing your home, workplace and all the devices they contain with the power of machine-based AI and intelligent Bot services for a completely streamlined experience.
21st International Cloud Expo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Me...