VANCOUVER, British Columbia, June 11, 2007 (PRIME NEWSWIRE) -- Eastfield Resources Ltd. (TSX-V:ETF) is pleased to announce that it has taken an option to earn a 100% interest in the Zymo property, which lies approximately 40 kilometres west of the town of Smithers, in northwestern British Columbia. The management group at Eastfield believes that the Zymo property represents a tremendous opportunity for discovery in a surprisingly overlooked prospect. The geology and mineralization styles at the Zymo property indicate both copper-gold-silver porphyry and porphyry related bulk tonnage high sulphidation gold-silver-zinc replacement deposits.
The first known mineralization on the property was recorded during reconnaissance work carried out in 1990 and the only significant exploration undertaken was between 1997 and 1999. The Zymo property hosts a large sericite-pyrite (phyllic) alteration system that covers approximately 4.6 square kilometres. In 1999 Freeport Copper Company (Freeport-McMoRan) optioned the property and drilled six core holes, concluding that they confirmed the presence of a large porphyry system and that the drilling suggested they were in the flanking zone of phyllic alteration. While all the holes but one intersected altered and pyritic intrusives, two holes cut promising copper values including: Hole 99-03: 23.8 metres of 0.14% copper, 0.21g/t gold and 3.7 g/t silver; Hole 99-06: 11.3 metres of 0.14 % copper, 0.1 g/t gold and 3.5 g/t silver. These occurrences lie within a copper and gold soil anomaly that measures approximately 1,000 metres by 800 metres and is open to the north.
Eight grab samples taken in a 200 by 200 metre area in the vicinity of Hole 99-06 averaged 0.38 % copper and 0.16 g/t gold. These chalcopyrite-bornite-magnetite occurrences indicate a high potential for the discovery of a large bulk tonnage copper-gold deposit.
Flanking the copper-gold mineralized area are extensive occurrences of zinc, copper, lead, silver, gold mineralization associated with siliceous pebble breccias and peripheral veins. Select grab samples of these well mineralized rocks have returned very high grades. While not representative of average grades these select samples returned values in the range of 1-11% zinc, 1-22 % copper, 1-7 g/t gold and 2-1,600 g/t silver. A thin section study of mineralized samples shows that the mineral assemblages reflect an Andean style high-sulphidation copper-gold porphyry system.
An airborne Magnetic-EM geophysical survey was completed over the property in late 2004 and this extensive database has never been followed up. Most of the property has seen little or no exploration. The company intends to fully assimilate the data package and expedite an aggressive exploration program.
Eastfield has the option to earn a 100% interest in the Zymo property from 811537 Alberta Ltd. by making a total of $250,000 in cash payments, issuing 600,000 shares and completing $1,000,000 in exploration expenditures over a five year period and reserving a 3% NSR for the vendor. The NSR on copper production may be reduced to 1.5% by paying the vendors $1,500,000. The 7,500 hectare property is accessed by good quality logging roads from Smithers.
G.L. Garratt, P.Geo., is the qualified person who has reviewed and takes responsibility for this news release.
G. L. Garratt, P.Geo., Officer and Director
Eastfield Resources Ltd.
About Eastfield Resources Ltd.
Eastfield Resources is part of The Eastfield Group. Since its inception in 1987, The Eastfield Group has utilized a successful business strategy that involves securing third party exploration financing for the majority of its projects. This has allowed the company to minimize share dilution and risk, while maximizing leverage. The other companies in The Eastfield Group are Cariboo Rose Resources (TSX-V:CRB) and Wildrose Resources (TSX-V:WRS).
The TSX - Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the TSX - Venture Exchange, the British Columbia Securities Commission and the U.S. Securities and Exchange Commission.