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SEAFIELD EXPANDS ITS GOLD INTERESTS TO COLOMBIA
November 17, 2009
TORONTO, ONTARIO - Seafield Resources Ltd. (“Seafield”) has signed a letter of intent with
privately-owned Caribbean Copper and Gold Corp. (“CCGC”). Seafield intends to enter into a
formal agreement (the "Definitive Agreement"), whereby Seafield will purchase from CCGC all
right, title, and interest in and to certain mining claims, options, and land packages (the
"Property"), located in the Quinchia district of Colombia, as well as all relevant data, drill cores,
and materials related thereto.
Consideration for the purchase of the Property by Seafield shall consist of cash payments to
CCGC and issuances to CCGC of common shares of Seafield. On or before the effective date of
the Definitive Agreement (the “Effective Date”) Seafield shall pay 5,000,000 common shares
and US$250,000. On the first anniversary of the Effective Date, Seafield may elect to make a
final payment to CCGC of US$250,000 and an additional 2,000,000 common shares of Seafield
or return the properties. Seafield shall also assume underlying property option payments totaling
US$5,500,000 over 30 months.
In addition, Seafield will undertake to make exploration expenditures and property payments of
not less than US$2,000,000 on the Property during the 12 month period following the date of the
first option payment to certain property owners.
The Quinchia historical gold mining district is known to host historical non compliant NI 43-101
resources which, it is hoped, can be advanced to the NI 43-101 resource stage. The Quinchia
Property covers approximately 4,700 hectares. The district lies within established infrastructure,
including easy access to the Pan-American highway, regional power grid and soon to be
refurbished railway, and is located at a relatively low altitude of less than 2,000 metres.
Gold in the Quinchia district occurs in altered dioritic intrusions, in diorite-basalt contact zones
and within breccia pipes related to the intrusions. Previous exploration on the areas has outlined
porphyry style gold mineralization in outcrop, numerous geochemical anomalies and airborne
geophysical signatures related to porphyritic intrusions.
The Quinchia Property lies in the same Mid-Cauca porphyry geological belt which hosts the
Marmato Mountain deposit, currently being explored by Medoro Resources Ltd. and which is
reported to host between 12-15 million ounces of gold, and the La Colosa discovery of
AngloGold Ashanti where a gold porphyry system has been discovered with an initial inferred
resource of 468.8 million tonnes grading 0.86 g/t Au for a total of 12.9 million ounces gold.
Marmato is less than 20 km to the northeast of Quinchia and La Colosa is located 60 km
southeast of Quinchia.
The transaction remains subject to completion of due diligence by Seafield and regulatory
approvals.
Seafield has also completed the second tranche of a proposed 17-million-unit financing. As a
result, the Company has issued 950,000 units at a price of $0.125 per unit for gross proceeds of
$118,750. Each unit consists of one common share and one common share purchase warrant
entitling the holder to acquire an additional share at $0.16 for a two-year period. In the event that
the common shares close at a price higher than $0.30 per share for 20 consecutive days, the
warrant holders may be given notice that they will have 30 days to exercise the warrants.
Proceeds of the financing will be used for acquisitions, exploration and general working capital
purposes. The securities issued are subject to a four-month hold period from the date of issuance.
Completion of the private placement is subject to final acceptance by the TSX Venture
Exchange.
James Pirie, Vice President, designated as the Qualified Person under National Instrument 43-
101, has reviewed and approved the contents of this news release.
For more information, please contact: Anthony Roodenburg, CEO, at 416 367-4571 x233
or visit www.sffresources.com
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.
This news release includes certain “"orward looking statements" within the meaning of the United States Private
Securities Litigation Reform Act of 1995. 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. 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. The Company relies on litigation protection for forward looking statements.
SEAFIELD APPOINTS JAMES PATERSON TO BOARD OF DIRECTORS
November 2, 2009
TORONTO, ONTARIO - Seafield Resources Ltd. (“Seafield”) is pleased to announce that Mr.
James Paterson has agreed to join the Company’s board of directors.
Mr. Paterson is currently a Managing Partner at Ocean Capital Partners, a merchant banking
group with offices in Toronto, Calgary and Los Angeles, and brings extensive transaction
execution experience to our board. Mr. Paterson began his career in 1994 as an investment
banker at First Marathon in Toronto and since that time has worked for Donaldson, Lufkin &
Jenrette, Banc of America Securities in New York, and GE Capital and Jefferies & Company in
Los Angeles. His focus has been on providing financial advisory services to growth-oriented
mid-sized companies. His transaction execution experience spans a range of structures including
M&A, public and private equity financings, and high yield, convertible, senior secured and
investment grade debt financings across a variety of industries.
Mr. Paterson attended undergraduate studies at University of Western Ontario's Richard Ivey
School of Business where he obtained an Honours Bachelor of Arts in Business Administration,
and graduate studies at the University of Michigan's Ross School of Business where he obtained
a Master of Business Administration.
For more information, please contact: Anthony Roodenburg, CEO, at 416 367-4571 x233
or visit www.sffresources.com
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.
This news release includes certain “forward looking statements” within the meaning of the United States Private
Securities Litigation Reform Act of 1995. 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. 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. The Company relies on litigation protection for forward looking statements.
SEAFIELD ACQUIRES INTEREST IN COLOMBIAN GOLD EXPLORER
October 1, 2009
TORONTO, ONTARIO - Seafield Resources Ltd. (“Seafield”) has invested US$100,000 in privatelyowned
Caribbean Copper and Gold Corp. (“CCGC”) and intends to enter into a formal agreement (the
"Definitive Agreement"), whereby Seafield will have an option, for a period of 12 months, to acquire up
to 20 million common shares, or approximately fifty per cent, of CCGC at a price of US$0.25 for a total
investment of US$5,000,000. Seafield may, at any time, exercise the entire option and, upon so doing,
shall be entitled to a number of board seats proportionate to its shareholding.
CCGC holds concession contracts, requests for concession contracts and options to purchase concessions,
and is focused on gold exploration in the Quinchia district, Department of Risaralda, Colombia.
The Quinchia historical gold mining district is known to host non-compliant NI 43-101 resources which it
is hoped can be advanced to the NI 43-101 mineral resource stage. The Quinchia concessions cover 4,812
hectares. The district lies within established infrastructure including easy access to the Panamerican
highway, regional power grid and railway, and is located at a relatively low altitude of less than 2000
metres.
The Quinchia project lies in the same Mid-Cauca gold belt which hosts the Marmato Mountain deposit
currently being explored by Medoro Resources (TSX-V, MRS) and Colombia Goldfields (TSX-GOL)
and which has a historical resource of 12.7 million ounces of gold, and the La Colosa discovery of
AngloGold Ashanti with an inferred resource of 468.8 million tonnes grading 0.86 g/t Au for a total of
12.9 million ounces gold. Marmato is less than 20 km to the northeast of Quinchia and La Colosa is
located 100 km southeast of Quinchia.
Gold in Quinchia occurs in altered dioritic intrusions and in basalt country rock. Previous exploration on
the areas has outlined porphyry-style gold mineralization in outcrop, numerous gold geochemical
anomalies and airborne geophysical signatures related to porphyry intrusions.
For more information, please contact: Anthony Roodenburg, CEO, at 416 367-4571 x233
or visit www.sffresources.com
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.
This news release includes certain “forward looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995. 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. 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. The
Company relies on litigation protection for forward looking statements.
SEAFIELD ANNOUNCES STOCK OPTIONS
August 13, 2009
TORONTO, ONTARIO - Seafield Resources Ltd. (‘Seafield’) announces that a total
of 2,350,000 options to purchase common shares of the Company have been granted to
officers, directors and consultants of Seafield at $0.10, expiring on August 13, 2014. The
grant of options is subject to regulatory approval.
For more information, please contact: Anthony Roodenburg, CEO, at 416 367-4571 x233
or visit www.sffresources.com
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.
This news release includes certain “forward looking statements” within the meaning of
the United States Private Securities Litigation Reform Act of 1995. 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. 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. The Company relies on litigation protection
for forward looking statements.
SEAFIELD ANNOUNCES COMPLETION OF
SECOND TRANCHE OF PRIVATE PLACEMENT
July 16, 2009
TORONTO, ONTARIO- Seafield Resources Ltd. (“Seafield”) is pleased to announce that it
closed the second tranche of its previously announced private placement of up to 12,500,000
units (a “Unit”) of Seafield, at a price of $0.04 per Unit. The second tranche consisted of
3,887,500 Units for aggregate gross proceeds of $155,500. Each Unit is comprised of one
common share (a “Common Share”) and one common share purchase warrant (a “Warrant”).
Each Warrant entitles the holder thereof to acquire a Common Share for a period of two years
from the date of issuance, exercisable at a price of $0.10 per share. The Warrants are also
subject to a forced conversion such that, if the Common Shares close at a price higher than $0.20
per share for 20 consecutive days, the warrant holders will have 30 days to exercise. The
proceeds of the financing will be used for general working capital purposes.
The securities issued are subject to a four month hold period from the date of issuance.
Completion of the private placement is subject to final acceptance of the TSX Venture
Exchange.
For more information, please contact: Anthony Roodenburg, CEO, at 416 367-4571 x233
or visit www.sffresources.com
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.
This news release includes certain “forward looking statements” within the meaning of the United States Private
Securities Litigation Reform Act of 1995. 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. 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. The Company relies on litigation protection for forward looking statements.
SEAFIELD ANNOUNCES COMPLETION OF
FIRST TRANCHE OF PRIVATE PLACEMENT
June 22, 2009
TORONTO, ONTARIO- Seafield Resources Ltd. (the “Company”) is pleased to announce that
further to its press release dated May 15, 2009 announcing a proposed private placement of up to
12,500,000 units of the Company, it has completed the first tranche consisting of 8,612,500 units
at a price of $0.04 per unit for gross proceeds of $344,500. Each unit is comprised of one
common share and one common share purchase warrant, each warrant entitles the holder thereof
to acquire a common share for a period of two years from the date of issuance, exercisable at a
price of $0.10 per share. The warrants are also subject to a forced conversion such that, if the
common shares of Seafield close at a price higher than $0.20 per share for 20 consecutive days,
the warrant holders will have 30 days to exercise. The proceeds of the financing will be used for
general working capital purposes.
The securities issued are subject to a four month hold period, expiring on October 19, 2009.
Completion of the private placement is subject to final acceptance of the TSX Venture
Exchange.
For more information, please contact: Anthony Roodenburg, CEO, at 416 367-4571 x233
or visit www.sffresources.com
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.
This news release includes certain “forward looking statements” within the meaning of the United States Private
Securities Litigation Reform Act of 1995. 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. 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. The Company relies on litigation protection for forward looking statements.
SEAFIELD ANNOUNCES COMPLETION OF PRIVATE PLACEMENT
PLANS ADDITIONAL FINANCING
May 15, 2009
TORONTO, ONTARIO- Seafield Resources Ltd. (the “Company”) is pleased to announce the
completion of a private placement with Vistior Capital Limited (“Vistior”) of 6,771,429 common
shares at a price of $0.035 per common share for gross proceeds of $237,000. The securities
issued are subject to a four month hold period.
Seafield also plans an additional non-brokered private placement of up to 12,500,000 units at
$0.04 for gross proceeds of $500,000. Each unit will consist of one common share and one full
warrant exercisable for one common share at $0.10 for a period of two years. The warrants will
also be subject to a forced conversion such that, if Seafield shares close at a price higher than
$0.20 per share for 20 consecutive days, the warrant holders will have 30 days to exercise. All
securities issued pursuant to the private placement will be subject to a four-month hold period
from the closing date. Finders' fees may be payable on the non-insider portions of the private
placement. The private placement is subject to approval from the TSX Venture Exchange.
For more information, please contact: Anthony Roodenburg, CEO, at 416 367-4571
or visit www.sffresources.com
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.
This news release includes certain “forward looking statements” within the meaning of the United States Private
Securities Litigation Reform Act of 1995. 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. 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. The Company relies on litigation protection for forward looking statements.
Seafield Resources Announces Private Placement Financing and Provides Exploration
Update at Fire Project, James Bay Lowlands, Ontario
April 14, 2009
Seafield Resources Ltd. (“Seafield” or the “Company”) (TSX Venture Exchange, symbol “SFF”)
announces that the Company plans a non-brokered private placement for proceeds of $225,000. The
placement will consist of common shares of Seafield priced at $0.035 per share. No warrants will be
issued. All securities issued pursuant to the private placement will be subject to a four-month hold period
from the closing date. Finders' fees may be payable on the non-insider portions of the private placement.
The private placement is subject to approval from the TSX Venture Exchange.
Proceeds from the placement, along with currently available capital, will be used to advance Seafield’s
high grade Elora gold project, southwest of Dryden in NW Ontario. Previous drilling by Seafield on the
Jubilee zone at the Elora property encountered several high grade intercepts, including intersections of
15.3 g/t gold over 1.3 metres, 14.3 g/t gold over 5.6 m and 13.7 g/t gold over 2 metres, with visible gold
in four holes. The best result from the most recent (2008) campaign was 34.9 g/t gold over 2.8 metres
within a broader zone of mineralization which returned 15.5 g/t gold over 6.9 metres.
Anthony Roodenburg, CEO made the following comments relating to the Elora property: “Elora is a
classic Archean, high grade, narrow vein, gold system with two small past producing mines on the
property in the historic Gold Rock mining camp. The camp has been under-explored compared to other
Ontario gold camps. We have expended more than $1 million on drilling at Elora over several campaigns
and continue to see encouraging results. This past summer’s drill program and results lead us to believe
that the Jubilee zone is part of a more extensive, gold mineralized system.”
In other news, Seafield has recently received the final report on the 2008 exploration program at the Fire
property from the operator, Noront Resources Ltd. (Noront). The Fire property, optioned in early 2008
from Noront, is located in the “Ring of Fire”, McFauld’s Lake area, Ontario, some 60 km north of
Noront’s Eagle One high grade copper-nickel-PGE discovery and only four km from the massive
sulphide discovery made in May 2008 by WSR Gold Inc., Metalex Ventures Ltd. and Arctic Star
Diamond Corp.
The initial exploration work on the Fire property was an AeroTEM III time domain electromagnetic and
magnetic survey followed by the recently developed fifth-generation VTEM time domain airborne survey
system which has been found to detect additional conductors that were invisible to the AeroTEM system.
During the summer 2008, the best conductive features from the airborne surveys were selected and three
grids were cut and covered by magnetometer and by electromagnetic (EM) surveys. Based on the
interpretation of the airborne and ground geophysical surveys, one drill target was selected on each grid
to test the strongest coincident magnetic/EM anomalies.
DDH SE 08 01 was drilled at grid SE1, into the strongest airborne anomaly. The hole intersected highly
conductive semi-massive pyrrhotite between 103.65 and 105 m. The host rock is interpreted to be either
mafic tuff or silicate iron formation containing pyrrhotite. Traces of chalcopyrite and sphalerite were
observed. The Zn content reached 0.77 % over a 0.75 m interval within a wider zone from 103.65 m to
107.3 m that averaged 0.42% but there was not sufficient base metal sulfide mineralization to warrant the
drilling of another hole.
The target of DDH SE 08 02 was a combined HLEM and AeroTEM anomaly. A long intersection of
interbedded intermediate tuff and silicate iron formation with abundant pyrrhotite and pyrite laminae was
encountered between 79 and 169 m, accounting for the moderate calculated conductance. The interval
from 116.25 to 118.1 m averaged 0.14% Zn. The presence of visible mineralization over a considerable
width of core was taken as encouragement to drill a second hole. DDH SE 08 03 was drilled into the
strongest part of the AeroTEM conductive axis, where it encountered interbedded silicate iron formation
and mafic to intermediate tuffs and tuff breccias intruded by granitic pegmatites from 27 to 189 m. As in
hole SE 08 02, the target is considered to have been explained by the presence of abundant massive
stringers of pyrrhotite over a zone exceeding true thickness of 100 m. No significant assay results were
reported from hole SE 08 03.
DDH SE 08 04 was drilled into the strike extension of the weakly magnetic, weakly conductive lineament
which was also tested almost 2 km to the east by hole SE-08-03. Weakly conductive iron formation was
confirmed by the drilling. No significant assay results were reported from this hole.
Following the drill results, no further work was recommended by Noront on the Fire property and
Seafield therefore decided to terminate its option agreement with Noront.
The technical disclosure in this release has been reviewed and approved by James Pirie, Ph.D., P. Eng.,
Vice President of Exploration and a director of the Company and a “Qualified Person” within the
meaning of National Instrument 43-101.
For more information, please contact: Anthony Roodenburg, CEO, at 416 367-4571
or visit www.sffresources.com
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.
This news release includes certain “forward looking statements” within the meaning of the United States Private
Securities Litigation Reform Act of 1995. 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. 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. The Company relies on litigation protection for forward looking statements.
Seafield Provides Gold Assay Results From Elora Drill Program
November 12, 2008
Seafield Resources Ltd. (“Seafield” or the “Company”) (TSX Venture Exchange symbol “SFF”) is pleased to report assay results from its summer drill program on the Jubilee gold zone at the Elora Project, near Dryden in NW Ontario. The nine hole, 2,306 metre program was designed to test down plunge from previous high grade intercepts on the Jubilee zone as well as to explore the zone and an adjacent structure along strike to the north. The best intersection of the program was on hole E-08-33 with 34.9 g/t Au over 2.8 m within a broader zone of mineralization which returned 15.5 g/t Au over 6.9 m.
The intersections of the current drill holes and their relationship to earlier holes drilled to test the Jubilee zone can be viewed on a longitudinal section which can be found on the Company website at www.sffresources.com.
| Hole # | Core Interval (m) | Core Length (m) | Gold (g/t) | Mineralization |
| E-08-31 | 87.6 - 88.0 | 0.4 | 2.7 | Blue-grey quartz (qtz) vein |
| E-08-31 | 125.0 - 126.7 | 1.7 | 1.7 | Jubilee Zone; silicified pyritized with qtz veins 3-20cm wide, 5-15% pyrite |
| E-08-32 | 165.25- 168.1 | 2.85 | 4.25 | Jubilee Zone; silicified and pyritized, qtz stringers, veining up to 60cm wide, up to 15% pyrite (py) |
| including | 166.4 - 166.7 | 0.3 | 14.6 | |
| E-08-33 | 186.0 - 192.9 | 6.9 | 15.5 | Jubilee Zone; silicified and sericite altered, up to 60% qtz veining and flooding, 1-15% py. |
| including | 187.2 -190 | 2.8 | 34.9 | |
| E-08-33 | 201.2 - 201.9 | 0.7 | 5.8 | Similar to Jubilee Zone; silicified with qtz veinlets, trace -7% py + pyrrhotite (po) |
| E-08-33 | 204.3 - 205.0 | 0.7 | 2.62 | Silicified, with 20-30% qtz stringers + 3-5% py - po |
| E-08-34 | 47.9 - 50.5 | 2.6 | 1.55 | Qtz - sericite altered sheared, with qtz veining up to 30cm wide, trace-5% py |
| including | 49.3 – 49.6 | 0.3 | 8.9 | |
| E-08-34 | 188.8 - 191.0 | 2.2 | 1.25 | Jubilee Zone; qtz veining up to 70cm wide with trace-2% py in quartz-sericite altered rock |
| E-08-35 | 265.3 - 268.1 | 2.8 | 1.35 | Jubilee Zone; qtz veining up to 30cm wide, trace-3% pyrite, trace po |
| E-08-36 | 109.6 - 110.2 | 0.6 | 7.87 | Irregular brecciated qtz vein with 5% pyrite |
| E-08-36 | 112.2 - 116.0 | 3.8 | 3.4 | Jubilee Zone; qtz vein in intercalated pyritic siltstone (5-15% py) and qtz-sericite altered mafic volcanic |
| including | 112.2 – 113.0 | 0.8 | 12.35 | |
| E-08-36 | 129.0 - 138.0 | 9.0 | 1.4 | Qtz-sericite±fuchsite altered mafic volcanic with 30%(+) qtz veining and trace-1% pyrite |
| E-08-37 | 86.3 - 87.0 | 0.7 | 1.12 | Qtz vein with 1-2% po, trace py and chalcopyrite |
| E-08-37 | 92.0 – 92.9 | 0.9 | 1.49 | Silicified mafic flow breccia with irregular patchy quartz-pyrite |
| E-08-37 | 220.0 - 229.5 | 9.5 | 1.40 | Qtz-sericite-fuchsite altered mafic volcanic with 30% white, qtz veining with trace-1% py |
| including | 228.0 - 229.5 | 1.5 | 3.58 |
|
Drill holes E-08-31, E-08-32 and E-08-33 were drilled on the same grid section (1020N) to test down plunge from a higher grade shoot interpreted from earlier drilling at a shallower depth on the Jubilee zone. The best intersection was on the deepest hole on this section, E-08-33, with 34.9 g/t Au over 2.8 m within a broader zone of mineralization (15.5 g/t Au over 6.9 m). Also hole E-08-32 which intersected the zone some 30 m vertically above returned 14.6 g/t Au over 0.3 m within a broader zone of 4.25 g/t Au over 2.85 m. Further drilling is being planned to test this shoot below 200 m depth.
Holes E-08-34 and 35 (drilled on section 1110N located some 90 m along strike to the north) also intersected the Jubilee zone down to about 250 m vertical depth but returned lower gold values.
Holes E-08-36 and 37 (drilled from the same location on section 1300N, a further 190 m along strike to the north) intersected the Jubilee zone with E-08-36 returning 12.35 g/t Au over 0.8 m.
On this most northerly drill section on the hanging-wall (east) side of the Jubilee zone, a new mineralized zone (M zone), characterized by quartz-sericite-fuchsite (green mica) altered mafic volcanics with associated quartz veining and minor pyrite was noted in both E-08-36 and 37. The zone is characterized by a large volume (>35%) of milk white to grey-white, bullish quartz veining up to 3 metres wide with varying amounts (nil to 10%) of altered, included wall-rock fragments. Pyrite occurs as fine to medium grained disseminations (trace to 2%) within altered volcanic inclusions. Although the gold content was low at 1.4 g/t Au in both holes, the zone measures 9 m thick and warrants further testing.
In addition to the intersections on the Jubilee zone, most of the holes intersected narrow, gold mineralized structures in both the hanging-wall and foot-wall to the Jubilee zone. Those with values over 1 g/t Au are also listed in the table above to demonstrate that the Jubilee zone is part of a broader gold mineralized system.
Holes E-08-38 and 39 were drilled to test an induced polarization (IP) anomalous zone parallel to and west of the Jubilee zone. The IP anomaly is interpreted to be due to a series of spaced, relatively narrow, pyrite and pyrrhotite-rich structures and quartz veins which returned no significant gold values.
A new drill program is under consideration to follow up on the encouraging results from the Jubilee zone and M zone described above.
All samples were delivered to Accurassay Laboratories, Thunder Bay, Ontario, an ISO 17025 certified laboratory, for assay using standard fire assay techniques with atomic absorption finish. Rejects and pulps of the samples are stored at the laboratory in Thunder Bay. The diamond drilling program and preparation of this press release were under the direct supervision and responsibility of Garry J. Clark P. Geol., a Qualified Person as defined by National Instrument 43-101.
For more information visit www.sffresources.com or contact: Anthony Roodenburg, President & CEO at 416 367-4571.
No Stock Exchange has reviewed nor accepted responsibility for the adequacy or accuracy of this news release. This news release includes certain “forward looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995. 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. 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. The Company relies on litigation protection for forward looking statements.
DRILLING BEGINS AT FIRE PROJECT, JAMES BAY LOWLANDS, ONTARIO
September 09, 2008
Seafield Resources Ltd. (“Seafield” or the “Company”) (TSX Venture Exchange, symbol
“SFF”) reports that a drill was recently mobilized to the Seafield Fire property, optioned
earlier this year from Noront Resources Ltd. and is testing the first of several geophysical
anomalies located by the earlier airborne survey. The property is located in the “Ring of
Fire”, McFauld’s Lake area, Ontario, some 60 km north of Noront’s Eagle One high
grade copper-nickel-PGE discovery and only four km from the massive sulphide
discovery made in May 2008 by WSR Gold Inc., Metalex Ventures Ltd. and Arctic Star
Diamond Corp.
The Company is also pleased to report that drilling has recently been completed on the
Jubilee zone at the Elora Project in NW Ontario. The nine hole, 2,306 metre program was
designed to test down plunge from previous high grade intercepts as well as to explore
the zone and an adjacent structure along strike to the north. The core has been logged
and currently zones of mineralization are being split and prepared for assay.
In Mexico, at Seafield’s 100 percent owned Tango property, covering 17,407 hectares in
the Rosario epithermal gold-silver mining district, Sinaloa State, Mexico, a
reconnaissance RC drill program of 1,746 metres in 14 holes was completed on several
targets in the first quarter 2008. A drill report on the program along with assay results has
now been received.
La Cocolmeca Vein was tested with 5 holes (Tan 1, 3, 4, 5, and 6) over a strike length of
450 meters between the Gavilan, San Antonio and Guayabo showings. The vein is hosted
both in older mafic volcanic rocks, diorite porphyry intrusions as well as dacitic flows
and ignimbrites. All of the drill holes intercepted the vein, which is characterized by
clear gemmy quartz, oxidized copper minerals, chalcopyrite and sphalerite. The best
overall result was 19 g/t Ag and 0.55% Cu across 2 m in Hole TAN 4 between 123.4 and
125.4 m. The most interesting gold result was 0.55 g/t Au across 3.06 mm in Hole Tan 5.
Hole TAN 7 was drilled to test under the old workings at the “Adit in Rhyolite Showing”
and Hole TAN 8 was drilled under a strong gold-in-soil geochemical anomaly with
values up to 624 ppb Au. Both holes intercepted the flowbanded rhyolite which is the
main host for the mineralization in the old workings. Although anomalous base metal
values occur in both the rhyolites and the surrounding mafic volcanic rocks, none of the
intercepts carried measurable gold or silver.
Holes TAN 9, 10 and 11 were drilled to test copper and silver bearing veins in the
vicinity of the “El Cobre” mine workings. Holes 9 and 10 successfully intercepted one of the main mineralized structures, whereas Hole TAN 11 did not intersect the target
structure. Mineralization occurs in coarsely crystalline cockscomb quartz and consists of
coarsely crystalline pyrite, galena, sphalerite and chalcopyrite. The best result was from
Hole TAN 10 which intercepted 2m of 80 g/t Ag, 5.0% Pb, 0.7% Zn and 1.0% Cu.
Holes TAN 12, 13 and 14 were drilled to test strong soil geochemistry for gold on the El
Placer Trend. Prior to drilling, several historic workings were located and sampled, and
collar locations selected to test under the historic workings. Rocks intercepted in these
holes were all quartz-feldspar phyric tuffs with local beds of accretionary lapilli. No
obvious veins, breccia zones or base metal sulphides were intercepted, although the rocks
are pervasively silicified with local quartz veinlets. All analytical results from these holes
are markedly anomalous in zinc, and locally anomalous in lead, copper and gold as well
as vanadium.
The variety of base and precious metal mineralization outlined across the Tango property
suggests that it may be part of an extensive polymetallic porphyry system underlying the
area. Further work is being considered to evaluate this model.
Michelle Robinson P. Eng. is designated as the Qualified Person overseeing all technical work on
the Tango property.
For more information visit www.sffresources.com
Contact: Anthony Roodenburg, President & CEO
416 367-4571
No Stock Exchange has reviewed nor accepted responsibility for the adequacy or accuracy of this news release. This
news release includes certain “forward looking statements” within the meaning of the United States Private Securities
Litigation Reform Act of 1995. 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. 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. The Company relies on litigation
protection for forward looking statements.
DRILLING BEGINS AT ELORA HIGH GRADE GOLD PROJECT, DRYDEN ONTARIO
June 16, 2008
Seafield Resources Ltd. (“Seafield” or, the “Company”), is pleased to announce that
drilling is now underway at Seafield’s Elora gold property near Dryden, Ontario. The
program will follow up on earlier encouraging results on the Jubilee zone, including
intersections of 15.3 g/t gold over 1.3 metres, 14.3 g/t gold over 5.6 m and 13.7 g/t gold
over 2 metres, as well as test two new target areas. The company plans to drill
approximately 3,000 metres.
At the Company’s Fire project on the “Ring of Fire”, McFauld’s Lake area, James Bay
Lowlands, Ontario, detailed helicopter-borne magnetic and EM surveys have been
completed over the Fire claims approximately 60 km north of the Noront Resources Ltd.
Eagle One high grade copper-nickel-PGE discovery. Seafield has an option from Noront
to acquire a 50% interest in the Fire claims, comprising 96 claim units (3,840 acres) by
making annual cash or share payments and spending $2.1 million over three years. The
Company is awaiting a final report and recommendations for further work from Noront,
the operator of the exploration program. The Fire claims are also located some 4 km east
of the claim block where WSR Gold Inc., Metalex Ventures Ltd. and Arctic Star
Diamond Corp. recently drilled several intersections up to 95 metres in length of base
metal massive to semi-massive sulphides. Initial assays of this base metal mineralization
are currently pending.
In Mexico, Seafield recently completed a reconnaissance RC drill program of 1,746
metres in 14 holes on several targets on the Tango property with assay results pending.
Earlier work on the Tango property defined a large gold anomaly in stream sediments
covering roughly 27 square kilometres in the tributaries of the El Placer River.
For more information visit www.sffresources.com
Contact: Anthony Roodenburg, President & CEO
416 367-4571 x233
No Stock Exchange has reviewed nor accepted responsibility for the adequacy or accuracy of this news release. This
news release includes certain “forward looking statements” within the meaning of the United States Private Securities
Litigation Reform Act of 1995. 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. 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. The Company relies on litigation
protection for forward looking statements.
DRILL RESULTS SUPPORT BULK TONNAGE POTENTIAL AT PICACHOS
PROJECT, MEXICO May 1, 2008
Seafield Resources Ltd. (“Seafield” or, the “Company”), is pleased to
announce results from the 2007 drill program conducted by NWT Uranium Corp. on the
polymetallic Picachos project in Mexico. Highlights include a 47.1 metre intercept of 83 grams
per tonne (g/t) silver and 0.84% combined zinc-lead, which starts at surface. The richest silver
intercept returned 509 g/t silver and 0.56% zinc-lead over 3.0 m. Significant gold and zinc-lead
results included a 1.52 metre interval of 6.2 g/t gold, 348 g/t silver and 19.9% zinc-lead. The
mineralized zone has been evaluated to a minimum strike length of 500 m.
"We are very encouraged by these drill results, which confirm the bulk mining potential at Los
Cochis," said Marek J. Kreczmer, President and CEO of NWT Uranium, which is earning a 70%
interest in the property from Seafield. "The Picachos project is in the Sierra Madre Occidental
Ignimbrite Belt, which is one of the largest silicic volcanic fields on Earth, and is traditionally
known for high-grade epithermal gold and silver deposits such as Tayoltita and Rosario. We look
forward to additional drilling to confirm the Los Cochis orebody shape and test its extensions, as
well as explore other three main mineralized zones of the Picachos property."
Results
A total of 21 reverse circulation (RC) holes, representing 3,125 m, were drilled in November,
2007. Of the 21 holes drilled, 18 targeted the main silver soil geochemical anomaly on seven
lines, spaced 100 m apart, with most holes dipping to the southwest. Of particular note, holes
COCH3, 6, 13 and 20 were drilled from the same location in four different directions as a
preliminary shape investigation of the mineralized zone. Additionally, two holes tested an IP
anomaly located 250 m east of the main zone, while one hole (COCH15) tested a gold soil
anomaly. Selected analytical results are detailed in the following table:
SELECTED ANALYTICAL RESULTS
Hole From To Interval Silver Zinc Lead Gold
| ID | (m) | (m) | (m) | (g/t) | (%) | (%) | (g/t) |
| COCH01 | Surface | 15.20 | 15.20 | 9 | 0.25 | 0.11 | - |
| COCH03 | Surface | 47.12 | 47.12 | 83 | 0.57 | 0.27 | - |
| COCH06 | Surface | 38 | 38 | 90 | 0.53 | 0.28 | - |
| COCH08 | 130.72 | 147.44 | 16.72 | 74 | 0.72 | 0.36 | - |
| COCH08 | 185.44 | 218.88 | 33.44 | 34 | 1.38 | 0.55 | - |
| including | 186.96 | 190 | 3.04 | 32 | 2.00 | 0.33 | - |
| and | 194.56 | 202.16 | 7.6 | 126 | 4.51 | 1.97 | 1.5 |
| and | 196.08 | 197.6 | 1.52 | 348 | 16.6 | 3.3 | 6.2 |
| COCH10 | Surface | 62.32 | 62.32 | 6 | 0.16 | 0.06 | - |
| COCH13 | Surface | 34.96 | 34.96 | 58 | 0.53 | 0.22 | - |
| including | 18.24 | 22.8 | 4.56 | 264 | 1.49 | 0.8 | - |
| COCH13 | 48.64 | 54.72 | 6.08 | 17.5 | 0.45 | 0.19 | - |
| COCH15 | 6.02 | 12.14 | 6.12 | 4 | 0.90 | 0.13 | - |
| COCH15 | 27.34 | 34.94 | 7.6 | 2.66 | 0.08 | 0.09 | 0.46 |
| COCH20 | Surface | 36.48 | 36.48 | 88 | 0.32 | 0.18 | - |
| including | 27.36 | 30.4 | 3.04 | 509 | 0.24 | 0.32 | - |
The intercepts reported are RC mineralized intercepts. True width of the mineralized zone cannot
be estimated at this stage. The targets drilled at Los Cochis tested old workings and high silver
geochemistry on surface, identified through an extensive soil geochemical survey conducted in
2005. Specifically, rock-chip channel and grab samples returned individual values of up to 4,975
g/t silver, 8.61 g/t gold, 53% zinc, as well as 50% lead, as detailed in a news release in
Stockwatch on Oct. 31, 2007.
The drilling intercepted mostly andesitic volcano-sedimentary rocks, with some andesitic flows
and dikes, and quartz feldspar porphyritic dikes. Mineralization occurs in propylitic-altered
andesitic rocks, and consists of galena, pyrite, sphalerite, tetrahedrite and chalcopyrite.
Quality control/assurance
Sampling was supervised by Michelle Robinson, MASc, PEng, who is a qualified person, as
defined by National Instrument 43-101, and a consultant to NWT Uranium. Ms. Robinson has
supervised the preparation of this news release.
Dry and wet RC drilling samples were routinely collected at five-foot intervals, and reduced
using cyclone and Jonas splitter. Samples were transported to Acme Analytical Laboratories in
Guadalajara for preparation, and pulps were sent to Acme's Vancouver office for assay (ICP-MS).
Samples containing more than 0.3 g/t gold, 50 g/t silver or more than 1% base metals were
reanalyzed using a 30-gram fire assay for gold-silver, and high-grade multi-element ICP methods.
Blind standard pulps were inserted into the sample stream roughly every 25 samples to check for
within-batch analytical precision.
As previously announced in a December, 2007, news release, 2,050 total samples were collected
through the drill program. Drilling was conducted by Layne de Mexico SA.
A total of 88 drilling samples were selected from both mineralized and non-mineralized intercepts
from the backup splits in camp, and sent to SGS Minerals Services in Durango, Mexico, for gold
and silver analysis. Of the 88 samples, only two report significant differences between Acme and
SGS.
For more information visit www.sffresources.com or contact: Anthony Roodenburg, President & CEO at
416 367-4571
No Stock Exchange has reviewed nor accepted responsibility for the adequacy or accuracy of this news release. This
news release includes certain “forward looking statements” within the meaning of the United States Private Securities
Litigation Reform Act of 1995. 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. 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. The Company relies on litigation
protection for forward looking statements.
The TSX Venture Exchange, Inc. has not reviewed and does not accept responsibility for the adequacy
or accuracy of this release.
SEAFIELD COMPLETES HELIBORNE SURVEY WITH NORONT
DRILLING AT TANGO, MEXICO COMPLETED, ASSAYS PENDING April 10, 2008
Seafield Resources Ltd. (“Seafield” or the “Company”) and Noront Resources Ltd. (“Noront”) have completed a state-of-the-art detailed heliborne magnetic and electromagnetic geophysical survey over the Fire property in the McFauld's Lake area, Ontario. The Fire property covers an eight-kilometer stretch of the Ring of Fire, which is interpreted to be underlain by metavolcanic and mafic to ultramafic intrusive rocks. Seafield has been granted the option to acquire a 50-per-cent legal and beneficial interest in the property (covering a total of 96 claim units or approximately 3,840 acres) 60 km north of Noront's Eagle One high-grade copper-nickel-platinum group element discovery. Seafield and Noront are awaiting receipt of the survey data, which will immediately be processed and interpreted to define targets for follow-up drilling.
At Seafield’s Elora high grade gold project south of Dryden, the Company expects to contract a drill in the coming days for a drill campaign to commence later this spring. The drill program is planned to follow up on encouraging high-grade intercepts with visible gold in several of the holes drilled by Seafield in previous campaigns. Visit the Company's website for past results at Elora.
In Mexico, drilling has been completed at the Company's 100-per-cent owned Tango gold/silver property in the Rosario precious metal mining district, Sinaloa, Mexico. This initial reconnaissance reverse circulation drill program completed approximately 1,750 meters in 14 holes on a number of vein and broader disseminated targets with anomalous gold, silver and base metals in soil and rock samples. Assays are pending.
Also in Mexico, assay results are pending at Seafield's Picachos property where NWT Uranium Corp. has completed a drill program as part of the requirements of an option agreement in which NWT can earn a 70-per-cent interest in the property. Earlier work by NWT included surface sampling which returned some values as high as 145 ounces per ton (4,975 grams per tonne) silver, 0.25 ounce per ton (8.61 g/t) gold.
For more information visit www.sffresources.com or contact:
Anthony Roodenburg, President & CEO at (416) 367-4571
No Stock Exchange has reviewed nor accepted responsibility for the adequacy or accuracy of this news release. This news release includes certain “forward looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995. 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. 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. The Company relies on litigation protection for forward looking statements.
The TSX Venture Exchange, Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
SEAFIELD ANNOUNCES OPTION AGREEMENT WITH NORONT TO EXPLORE 96
CLAIM UNITS IN "RING OF FIRE", NORTHERN ONTARIO January 15, 2008
Seafield Resources Ltd. (TSXV: SFF) (“Seafield”) and Noront Resources Ltd. (TSXV: NOT)
(“Noront”) are pleased to announce that they have entered into an option agreement pursuant to
which Seafield has been granted the option to acquire a 50% legal and beneficial interest in 6
claim blocks, (covering a total of 96 claim units or approximately 3,840 acres). The property is
located in the “Ring of Fire”, McFauld’s Lake area, Ontario, some 60 km north of Noront’s
Eagle One high grade copper-nickel-PGE discovery. In addition to the September 2007 Noront
discovery, exploration in the McFauld’s Lake and surrounding area in recent years has identified
significant base metal massive sulphide deposits as well as occurrences of diamonds and gold
mineralization.
The Seafield property covers an 8 km stretch of the “Ring” which is interpreted to be underlain
by metavolcanic and mafic to ultramafic intrusive rocks. Initial exploration over the property
will include a state-of–the-art detailed heli-borne magnetic and EM geophysical survey expected
to commence later this month, to define targets for follow up drilling.
In order to acquire its interest in the property, Seafield is required to:
- Make an initial payment to Noront of $120,000 or issue to Noront an aggregate of
342,857 common shares of Seafield, on both parties receiving all required approvals,
including any TSX Venture Exchange approval and Board of Directors approval of the
Option Agreement;
- Incur aggregate exploration expenditures on the property of $2,100,000 over a three year
period (of which $600,000 must be expended in the first year);
- Make total cash payments to Noront of $240,000 within two years of receiving the above
noted approvals of the option agreement (of which $120,000 must be paid by the first
anniversary, and any portion of the aggregate of $240,000 may be satisfied at the option
of Noront, by the issuance to Noront of up to 685,714 common shares of Seafield at a
deemed price of $0.35 per share).
Upon Seafield earning its 50% interest in the property, Seafield and Noront shall form a joint
management committee to further develop the property as a joint venture with Noront continuing
to act as the operator.
Exploration Update
Seafield recently completed $2,400,000 in funding for exploration programs scheduled to commence in
the first quarter of 2008. In addition to the above referenced option with Noront, Seafield is advancing
three gold exploration properties, two in Mexico and one in Ontario.
In Mexico, assay results are pending at Seafield’s Picachos property where NWT Uranium Corp. (NWT)
has completed a drill program as part of the requirements of an option agreement in which NWT can earn
a 70% interest in the property. Earlier work by NWT included surface sampling which returned some
values as high as 145 ounces per ton (4,975 grams per tonne) silver, 0.25 ounce per ton (8.6 g/t) gold.
At Seafield’s Tango property in the Rosario precious metal mining district, Sinaloa, Mexico, drilling on a
number of targets with anomalous gold in soil and rock samples is scheduled to begin later this month.
Elsewhere in Mexico, Seafield has dropped its interest in the La Silla gold-silver property, as it was
unable to negotiate new terms with Meridian Gold (now Yamana Gold Inc.) under which it would renew
its exploration program on the property.
In NW Ontario, where Seafield is advancing the Elora high grade gold vein system, south of Dryden,
follow up drilling is tentatively scheduled for late February, subject to drill rig availability. Previous
exploration drilling by Seafield encountered encouraging high grade intercepts with visible gold
encountered in four of the holes.
In commenting on recent activities, Anthony Roodenburg, CEO stated: “Seafield will be extremely active
in 2008. With assay results pending at Picachos and drilling about to begin at Tango and Elora, there
should be no shortage of news over the next few months. Depending on how quickly the geophysical
data from the “Ring of Fire” claims are processed and interpreted, we may be drilling there too before
summer.”
For more information, please contact:
SEAFIELD RESOURCES LTD.
1208-330 Bay Street,
Toronto, Ontario M5H 2S8
Anthony Roodenburg, CEO
T. 416 367-4571 x233
www.sffresources.com
No Stock Exchange has reviewed or accepted responsibility for the adequacy or accuracy of this news release. This news release includes certain
“forward looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995. 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. 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. The Company relies on litigation protection for forward looking statements.
DRILLING COMPLETED AT PICACHOS, MEXICO, ASSAYS PENDING;
FINANCING PLANNED FOR WINTER DRILL PROGRAM AT ELORA HIGH GRADE GOLD PROJECT, DRYDEN, ONTARIO, AND GRANT OF STOCK OPTIONS December 10, 2007
TORONTO, ONTARIO – Seafield Resources Ltd. (“Seafield” or, the “Company”), is pleased to
announce that an initial drill program has been completed at the Company’s 7,700-hectare Picachos
project in Durango, Mexico, where NWT Uranium Corp. (“NWT”) has an option to earn a 70% interest.
In total, 3,125.5 metres were drilled in 21 reverse circulation holes and samples have been shipped for
analysis. Drilling at Los Cochis tested the El Fresno target, which is characterized by high silver
geochemistry on surface. Earlier rock chip-channel and grab samples returned individual values of up to
145 ounces per ton (4,975 grams per tonne) silver, 0.25 ounce per ton (8.61 g/t) gold, 53 per cent zinc as
well as 50 per cent lead.
"Based on visual logging and on-site hand-held instrument X-ray analysis of the drill samples, 18 of 21
holes contain zinc and silver mineralization," said Marek Kreczmer, president and CEO of NWT.
"Mineralization occurs as veins and disseminations in propylitic altered andesitic rocks of the lower
volcanic group. While higher-grade intervals of mineralization related to veining were intercepted in
several holes, NWT is particularly excited about the possibility that wider intervals of disseminated
mineralization may carry enough silver, gold, lead and zinc for a large-tonnage, open-pit mine."
Seafield also announces plans to raise up to $1,400,000 in a non brokered private placement by issuing
4,000,000 flow-through shares at a price of $0.35 per share. In addition, Seafield will raise $250,000 by
issuing 1 million units at $0.25. Each unit will consist of one common share and one half of one common
share purchase warrant exercisable for 12 months at $0.30. Seafield may pay finders fees in connection
with these financings.
The flow-through funds will be used in part to finance an estimated 4,000 metre drill program at
Seafield’s Elora high grade gold project southwest of Dryden in NW Ontario. Previous drilling by
Seafield on the Jubilee zone at the Elora property encountered several high grade intercepts with visible
gold in four holes. Earlier results from Elora are summarized in Seafield’s November 7, 2007 news
release.
The Company also intends to issue 800,000 stock options to consultants, officers and directors at $0.29,
the closing share price on December 10, 2007.
For more information, contact: Anthony Roodenburg, CEO at 416 367-4571 or visit
www.sffresources.com
No Stock Exchange has reviewed or accepted responsibility for the adequacy or accuracy of this news release. This news release
includes certain “forward looking statements” within the meaning of the United States Private Securities Litigation Reform Act of
1995. 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. 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. The Company relies on litigation protection for forward looking statements.
SEAFIELD FINDS HIGH GRADE GOLD AND SILVER AT PICACHOS, MEXICO
4,975 GRAMS PER TONNE (G/T) SILVER, 8.61 G/T GOLD (0.25 OUNCE/TONNE) November 7, 2007
Seafield Resources Ltd. (“Seafield” or, the “Company”), is pleased to announce that NWT
Uranium Corp. has provided an update on activities under way at its 19,000-acre (7,700-hectare)
Picachos project in Durango, Mexico (Seafield 30%). In recent months, NWT has conducted an
IP survey and rock sampling over Los Cochis, one of four contiguous precious metal districts on
the Picachos property. Assay results from rock chip channel and rock grab samples reveal
individual values of up to 145 ounces per ton (4,975 grams per tonne) silver, 0.25 ounce per ton
(8.61 g/t) gold Two targets at Los Cochis were defined as part of the exploration program: El
Fresno and La Tijera. Drilling is scheduled as the next step of the continuing work program.
"Of the four districts, NWT chose to focus on Los Cochis because of its potential to host largetonnage,
near-surface silver-lead-zinc mineralization that is amenable to open-pit mining," said
Marek J. Kreczmer, president and chief executive officer of NWT Uranium. "We are encouraged
by the high levels of silver-lead-zinc mineralization returned from our rock sampling program
and by the fact that our results correspond to other well-known Mexican massive sulphide-base
metal deposits."
NWT has an option to earn a 70-per-cent interest in Picachos from Yamana Gold Inc. Seafield
has a carried 30% interest in Picachos through a wholly owned sub. Minera Tango SA de CV
acquired from Yamana in an all stock transaction as announced on January 4, 2007. As a result
of this acquisition Yamana has become Seafield’s largest shareholder.
In addition to the interest in the Picachos property, Seafield owns a 100-per-cent interest in the
Tango property, covering about 17,407 hectares in the Rosario epithermal gold-silver mining
district, Sinaloa state, Mexico. Earlier work on the Tango property defined a large gold anomaly
in-stream sediments covering some 27 square kilometres in the tributaries of the El Placer River
and follow-up prospecting identified gold mineralization in two separate areas. At La Cocolmeca,
a northwest-trending swarm of gold-bearing quartz veins is exposed by a northeast-trending fault
scarp more than 200 metres high. Within the Cocolmeca swarm, eight samples from Veta
Copalquin have yielded average results of 12.9 grams per tonne (g/t) Au, 55 g/t Ag, 0.5 per cent
Cu, 1.5 per cent Pb and 2.4 per cent Zn across widths ranging from 0.3 metre to one metre. About
350 metres to the west, eight channel samples across the Urrea corridor, a stockwork zone hosted
in flow-banded rhyolite, yielded an average result of 2.1 g/t Au, 3.6 g/t Ag, 0.14 per cent Pb and
0.12 per cent Zn across 5.4 metres. The Urrea corridor has been mapped on surface for about 450
metres along strike. At El Placer, located about two kilometres east of La Cocolmeca, where the
vein system also trends northwest, work is currently in progress to evaluate the extent of the
mineralization. Initial grab samples from material in old mine dumps at El Placer contain between
20.8 g/t and 6.9 g/t Au.
In Ontario, Seafield can earn an 80% undivided interest in the Elora gold property located in the
Kenora Mining Division of Northwestern Ontario. Seafield has conducted initial drilling at Elora
with encouraging results and plans a follow up drill program this winter. Elora is a classic
archean, narrow vein, high grade target. Highlights of previous Seafield drilling at Elora include:
| Hole No. | Hole depth (metres) | From/To (metres) | Gold (g/t) | Width (metres) |
| E-04-14 | 51.9 | 45.09-46.40 | 15.27 | 1.31 |
| incl. | | 46.04-46.40 | 28.47 | 0.67 VG |
| E-04-16 | 51.8 | 36.13-39.88 | 5.33 | 3.75 |
| incl. | | 37.74-38.69 | 14.97 | 0.95 |
| E-04-17 | 131.1 | 68.66-75.46 | 3.24 | 6.8 |
| incl. | | 74.57-75.46 | 13.53 | 0.89 |
| E-04-18 | 169.6 | 111.67-111.97 | 10.26 | 0.30 |
| E-04-19 | 166.5 | 70.43-82.62 | 7.54 | 12.19 |
| incl. | | 72.41-78.05 | 14.29 | 5.64 |
| incl. | | 77.68-78.05 | 178.94 | 0.37 VG |
| E-04-20 | 150.9 | 94.57-95.88 | 2.38 | 1.31 |
| incl. | | 95.58-95.73 | 14.50 | 0.15 |
| E-04-21 | 209.2 | 125.76-128.66 | 6.58 | 2.9 |
| E-06-22 | 351 | 174-175 | 4.26 | 1.0 |
| | 228-228.5 | 4.84 | 0.5 |
| | 230-231 | 3.22 | 1.0 |
| | 294-296 | 13.68 | 2.0 VG |
| | 314.9-316.1 | 5.20 | 1.2 |
| | 316.7-318.4 | 7.55 | 1.7 |
| E-06-23 | 350 | 75.6-76.1 | 3.23 | 0.5 |
| | 90-91.5 | 2.31 | 1.5 |
| | 342-342.5 | 4.58 | 0.5 |
| E-06-24 | 330 | 114.4-116.4 | 1.93 | 2.0 |
| | 264.7-266.7 | 2.35 | 2.0 |
| | 317.5-318.3 | 2.45 | 0.8 |
| E-06-26 | 180 | 153.1-154.4 | 2.70 | 1.3 |
| E-06-27 | 132 | 82.4-83.4 | 2.63 | 1.0 |
| E-06-28 | 180 | 47-48 | 2.24 | 1.0 |
| | 56.7-58.7 | 2.30 | 2.0 |
| | 131.5-135.5 | 1.78 | 4.0 |
| E-06-30 | 310 | 209.0-210.2 | 2.06 | 1.2 VG |
VG means visible gold in core.
For more information, contact: Anthony Roodenburg, CEO at 416 367-4571
No Stock Exchange has reviewed nor accepted responsibility for the adequacy or accuracy of this news release. This
news release includes certain “forward looking statements” within the meaning of the United States Private Securities
Litigation Reform Act of 1995. 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. 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. The Company relies on litigation
protection for forward looking statements.
SEAFIELD RESOURCES LISTS ON THE TSX VENTURE EXCHANGE
PLANS WINTER DRILLING AT THE ELORA GOLD PROJECT, ONTARIO Oct 29, 2007
Seafield Resources Ltd. (“Seafield” or, the “Company”), is pleased to announce that it has
received final listing approval from the TSX Venture Exchange (the “Exchange”) as a Tier II,
mining issuer. The common shares of the Company will be listed and posted for trading on the
Exchange commencing Tuesday, October 30, 2007, under the trading symbol SFF.
Seafield is a gold exploration company with projects located in Canada and Mexico. On January
4, 2007, Seafield announced the completion of the acquisition of Minera Tango from Yamana
Gold Inc. As a result of this all stock acquisition Yamana has become Seafield’s largest
shareholder. Minera Tango, now a wholly owned subsidiary of Seafield, owns a 100-per-cent
interest in the Tango property, covering about 17,407 hectares in the Rosario epithermal gold-
silver mining district, Sinaloa state, Mexico. Minera Tango also owns a 100-per-cent interest
(subject to an option described below) in the promising silver-gold Picachos property, covering
approximately 7,775 hectares in Durango state in Mexico
Earlier work on the Tango property defined a large gold anomaly in stream sediment samples
covering about 27 square kilometres in the tributaries of the El Placer River. Follow-up
prospecting identified gold mineralization in two separate areas. At La Cocolmeca, a northwest-
trending swarm of gold-bearing quartz veins is exposed by a northeast-trending fault scarp more
than 200 metres high. Within the Cocolmeca swarm, eight samples from Veta Copalquin have
yielded average results of 12.9 grams per tonne (g/t) Au, 55 g/t Ag, 0.5 per cent Cu, 1.5 per cent
Pb and 2.4 per cent Zn across widths ranging from 0.3 metre to one metre. About 350 metres to
the west, eight channel samples across the Urrea corridor, a stockwork zone hosted in flow-
banded rhyolite, yielded an average result of 2.1 g/t Au, 3.6 g/t Ag, 0.14 per cent Pb and 0.12 per
cent Zn across 5.4 metres. The Urrea corridor has been mapped on surface for about 450 metres
along strike. At El Placer, located about two kilometres east of La Cocolmeca, where the vein
system also trends northwest, work is currently in progress to evaluate the extent of the
mineralization. Initial grab samples from material in old mine dumps at El Placer contain between
20.8 g/t and 6.9 g/t Au.
The Picachos property is subject to an option whereby Northwestern Mineral Ventures has an
exclusive option for a period of three years to acquire a 70-per-cent interest in the property by incurring certain expenditures on the Picachos property, issuing and delivering to Yamana
common shares in the capital of Northwestern and paying to Yamana a total amount of $400,000
(U.S.). The terms of the Picachos option agreement remain in effect following the acquisition of Minera Tango.
The Picachos property is located approximately 50 kilometres southeast of Goldcorp's Tayoltita
mine, a mine that has production to date upward of 650 million ounces of silver and nine million
ounces of gold. Preliminary analysis by Northwestern indicates the potential for a near-surface, open-pittable silver-rich area with gold-bearing bonanza shoots. Much of the mineralization on
the Picachos claim is controlled by easterly striking veins.
In Ontario, Seafield can earn an 80% undivided interest in the Elora gold property located in the
Kenora Mining Division of northwest Ontario. Seafield has conducted initial drilling at Elora
with encouraging results and plans a follow up drill program this winter. Elora is a classic
Archean, narrow vein, high grade target. Highlights of previous Seafield drilling include:
VG – visible gold in core
The first phase of drilling (E-04-14 to 21) targeted the Jubilee Zone which was originally
explored by surface drilling and developed by a shaft and drift sampling at the 50 metre level in
the 1930s. Seafield’s drill program tested extensions of the Zone to the south and down to a depth
of 110 metres with encouraging results. The follow up program (E-06-22 to 30) was laid out to
test the zone down to a depth of around 200 metres as well as along strike from previous drilling.
The Jubilee Zone comprises a steeply dipping, shear-hosted quartz-carbonate vein system, set in a
wider zone of pale green to buff coloured altered and laminated mafic volcanics. Narrow felsic
dykes and interflow sediment units also occur in places within the zone. The main mineralized
zone is generally a few metres wide (but in places extends up to 28 metres, such as in Hole E-06-
22) and is characterized by quartz veins and veinlets with lesser carbonate, sulphides and locally
visible gold, set in highly altered and sheared mafic volcanics. Closer to the veins, the volcanic
wallrocks are sericitized and carbonatized with laminations and disseminations of coarse pyrite,
along with lesser amounts of arsenopyrite, pyrrhotite and chalcopyrite. Gold values are most
commonly associated with the quartz veins, veinlets and sulphide concentrations.
Desmond Cullen, P.Geo. and J. Garry Clark. P. Geo., independent geological consultants to
Seafield and qualified persons as defined by National Instrument 43-101, prepared the technical
report on the Elora Property, dated March 17, 2007 (the “Technical Report”).
Further information relating to the listing application of Seafield dated October 19, 2007 and the
Technical Report is available through SEDAR (at www.sedar.com) under the listing of public
documents of Seafield.
For more information, contact: Anthony Roodenburg, President & CEO at 416 367-4571
SEAFIELD APPOINTS TWO NEW DIRECTORS June 18, 2007
Seafield Resources Ltd. (“Seafield” or, the
“Company”), is pleased to report the appointment of two new members to the Company’s
board of directors, following the Company’s recent annual meeting.
William J. McGuinty
is a geologist, fluent in Spanish and French, who has over 20 years mineral exploration
experience in Canada and overseas. Earlier in his career, Bill managed exploration
programs from Kirkland Lake to Cuba. In the mid nineties, he was intimately involved
in the discovery and resource development of the San Martin gold deposit in Honduras.
Following an assignment as industry liaison for the Ontario Ministry of Northern
Development and Mines, Bill is currently VP Exploration of Intrepid Mines Ltd.,
and is involved in a number of exploration and development projects in Latin America.
Michael E. Power is a Professional Engineer with 40 years of experience in the mining
industry in Canada. An Electrical Engineer and Chartered Financial Analyst, Michael
spent much of his career in the Noranda organization and latterly was Vice-President
of Corporate Development at Hemlo Gold Mines Inc., now part of Newmont Mining Corporation.
At Hemlo Gold, Mr. Power was responsible for initiating, assessing and negotiating
the acquisition of mining assets. Currently, Michael serves as Director, VP &
Secretary for Moydow Mines Ltd. and as Director of Conroy Diamonds and Gold Plc.
and Zaruma Resources Inc.
For more information, contact: Anthony Roodenburg, CEO at 416 485 1327