Seafield Resources Ltd.
TSX VENTURE : SFF

Seafield Resources Ltd.

April 05, 2011 08:30 ET

Seafield Begins Drilling Santa Sofia Target, Quinchia Gold Project, Colombia

TORONTO, ONTARIO--(Marketwire - April 5, 2011) - Seafield Resources Ltd. ("Seafield" or the "Company") (TSX VENTURE:SFF) is pleased to report that exploration drilling has commenced on the Santa Sofia target area. Santa Sofia is a new gold target, 1,050 m by 850 m across, with soil values up to 2.3 grams per tonne gold (g/t Au). The gold anomaly has coincident copper and molybdenum anomalies and overlaps the north part of a prominent aeromagnetic high feature.

In 2010, Seafield undertook a detailed soil geochemical program over an area of approximately 3.6 km by 2.0 km and collected 1,129 samples at 50 m intervals on a northeast-trending grid with line spacing of 100 m. Gold values in soils ranged from below detection up to a high of 4.7 g/t Au. The soil survey was laid out to cover an area of several aeromagnetic high anomalies, which are interpreted as possible porphyry targets. Since magnetite alteration and veining are an important feature of gold porphyries in the Quinchia project, magnetic surveys can be a key to discovering hidden porphyries in an area of very little outcrop.

The Santa Sofia gold anomaly is associated with a copper anomaly, defined by values above 250 parts per million and up to 820 ppm Cu, and a weaker molybdenum anomaly with values up to 23 ppm Mo, which confirm porphyry-type characteristics of the target zone. Seafield plans to drill up to 5,000 metres at Santa Sofia. 

The Santa Sofia anomaly is located one km to the northeast of the Dosquebradas porphyry, where Seafield recently intersected 511.5 m grading 0.58 g/t Au, 0.05% Cu, including 199.9 m grading 0.98 g/t Au, 0.09% Cu from 122 m to 322 m, and terminated in mineralization. (See Company press release, March 7, 2011.) At Dosquebradas, Seafield has completed ten drill holes with drilling continuing and assays pending.

Additionally, Seafield reports that Mr. Ian G. Park has resigned his position as a director of Seafield's Colombian subsidiary, Minera Seafield S.A.S. The Company wishes to thank Mr. Park for his assistance in identifying the Quinchia assets and in assembling the exploration team in Colombia.

James Pirie, Vice President, designated as a Qualified Person under National Instrument 43-101, has reviewed and approved the contents of this news release.

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.

Contact Information

  • Seafield Resources Ltd.
    David MacMillan
    Investor Relations
    416-367-4571 ext. 226
    www.sffresources.com