SOURCE: InvestmentPitch

December 03, 2010 21:16 ET

Midas Letter Recommends Seafield Resources (SFF - TSX.V) - Report Available From

VANCOUVER, BC--(Marketwire - December 3, 2010) -

Following a Thursday mid-day halt in trading, Seafield Resources (TSX-V: SFF) soared today, after releasing details of their first three drill holes at their Miraflores property in Columbia. The third hole reported a stunning 449 metres grading 1.29 grams per tonne of gold, including a 23.95 metre segment grading 9.18 grams per tonne gold.

Based on these drill results, James West, publisher of the Midas Letter (, had a buy alert out to his subscribers before the opening today, calling this deposit a home run.

"When the market opens later this morning, any shares you can get under a dollar will likely be ten-bagger potential, as with a few more drill holes like this one, and you've got Ventana 2 on your hands", stated James West.

For those unfamiliar with Ventana Gold (VEN - TSX.V), they also have a gold deposit in Columbia, less than 400 kilometres to the north-east of Seafield. Ventana Gold, currently trading near $13.50, could be purchased less than two years ago at $0.04 per share. It is currently the subject of a buyout offer by Brazil's EBX Group for $1.5 billion.

Nimble investors had a chance to fill their portfolios with $0.35 stock this morning before the news circulated. This was up from $0.23 yesterday, when Seafield traded 117,000 before being halted two and one-half hours into the trading day. The stock hit a high of $0.77 late in the trading day, before trading back to $0.57 during the last hour as day traders wanted to go home with their positions flat. By the end of today, Seafield had traded more than 70 million shares.

"The company is drilling on the recently obtained Quinchia gold and copper project in the Department of Risaralda on the Mid Cauca porphyry corridor, where several large scale gold discoveries have been made, including the 12.9 million ounce La Colosa deposit owned by AngloGold Ashanti".

"The Quinchia Project has already outlined an inferred resource of 776,000 ounces of gold at Miraflores. Other gold mineralized porphyries have been identified nearby at Dos Quebradas, where the company is doing detailed ground exploration to define drill targets and will begin drilling in the next several months, and at Chuscal where strongly mineralized porphyry has been outlined at surface".

"You can count on substantial and ferocious demand for these shares. But with such a big intercept, there's no doubt there is more where that came from", stated Mr. West.

For more news on this exciting discovery, please visit, where the company expects to have some video interview material from James West posted at the beginning of the week. is a multimedia technology company that offers a combined solution for creating, hosting and distributing financial and stock market related video content.

For a free trial subscription to the Midas Letter, please email and put "Midas Letter" in the subject line.


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Source: InvestmentPitch via Thomson Reuters ONE

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