Seafield Resources Ltd.
TSX VENTURE : SFF

Seafield Resources Ltd.

March 07, 2011 08:30 ET

Seafield Drills 200 Metres Grading 0.98 g/t Gold, 0.09% Cu at Dosquebradas, Quinchia Gold Project, Colombia

TORONTO, ONTARIO--(Marketwire - March 7, 2011) - Seafield Resources Ltd. ("Seafield" or the "Company") (TSX VENTURE:SFF) is continuing its exploration program on its Quinchia gold project in the Department of Risaralda, Colombia. In the Dosquebradas area, some 3 kilometres northwest of the Miraflores gold deposit, the current diamond drill program is testing the gold-in-soil anomaly which defines the northern extension of the Dosquebradas porphyry on Seafield's property.

Highlight:

• Hole QDQ-DH-02 was drilled at -50° westward to test the extension of the gold mineralization outlined in the trench reported in the Company press release of December 8, 2010. The hole intersected 511.5 metres grading 0.58 g/t Au, 0.05% Cu including 199.9 metres grading 0.98 g/t Au, 0.09% Cu from 122 metres to 322 metres, and terminated in mineralization.

The Dosquebradas target has an area of about 700 metres by 550 metres as defined by soil samples above 50 ppb Au (0.05 g/t Au). Values in soils are as high as 0.58 g/t Au. Anomalous copper and molybdenum values in soils also define the target area. To date a total of 3,497 metres have been drilled in nine holes out of a total of 11 holes planned for this phase of 5,000 metres. The program is designed to identify and delineate the gold mineralization associated with the Dosquebradas diorite porphyry intrusion. Assay data have been received for the first three holes of the program and the significant results are listed in the table below.

Hole No. From (m) To (m) Interval (m) Au (g/t) Cu %
QDQ-DH-01 0.00 268.80 268.80 0.37 0.03
inc 20.10 31.20 11.10 2.00 0.09
and 52.70 69.20 16.50 1.18 0.03
and 181.20 257.90 76.70 0.45 0.04
QDQ-DH-02 0.00 511.50 511.50 0.58 0.05
inc 122.10 421.00 298.90 0.81 0.07
inc 122.10 322.00 199.90 0.98 0.09
inc 197.20 234.20 37.00 1.66 0.11
and 266.20 302.35 36.15 1.98 0.13
and 378.80 421.00 42.20 0.72 0.05
Note: length-weighted intervals calculated using a cut-off grade of 0.1 g/t. Significant intervals with an average grade above 0.3 g/t Au are listed. Grades are un-capped.

The three holes were drilled from the same platform with different azimuths as shown on the map below.

To view the 'Dosquebradas Drill Plan', please visit the following link - http://media3.marketwire.com/docs/sff10307.pdf

Hole QDQ-DH-01 was drilled to the northeast at an inclination of -50° and intersected alternating diorites and basalt wall rock both with potassic alteration and a stockwork of quartz-magnetite veinlets. Higher grade gold intersections occur in fault breccias. The hole defines the eastern contact of mineralized diorite with basalt at 268.8 m downhole.

Hole QDQ-DH-02 was drilled to the west at an inclination of -50° and intersected quartz diorites, quartz diorite breccias and basalts with potassic alteration and quartz-magnetite stockwork veinlets throughout the whole length of the hole, with a weak overprint of intermediate argillic to phyllic alteration. The hole ended in mineralization at 511.5 m depth. AngloGold Ashanti, a previous operator, drilled two shorter holes in 2006 on the same section as QDQ-DH-02. Hole DQ-DD-2 returned 0.62 g/t Au, 0.07% Cu over 68 metres and 0.90 g/t Au, 0.10 % Cu over 36 metres. Hole DQ-DD-3 drilled at -60° returned grades of 0.63 g/t Au over 90.0 metres and 1.67 g/t Au over 39.5 metres.

Hole QDQ-DH-03 was drilled to the east at an inclination of -50° outwards from the soil anomaly and intersected basalt country rocks with weaker alteration and low gold values up to 0.75 g/t in individual samples in the top 105 m but with no significant intervals. This hole was drilled to define the eastern limit of the mineralization.

Seafield President Anthony Roodenburg commented: "These results from Dosquebradas are very encouraging and they confirm the existence of a potentially significant second deposit on our Quinchia project." 

Qualified Person

Stewart D. Redwood, Consulting Geologist to Seafield, 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 Miraflores drill program. Dr. Redwood is a Fellow of the Institute of Materials, Minerals and Mining (Number 47017), a professional association and designation recognized by the Canadian regulatory authorities. Dr. Redwood 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.

Sample Collection, Preparation, Analyses and QA-QC 

The core samples were split by rock saw and half of the core was sampled. Core samples were prepared by SGS laboratory in Medellin and were assayed at the SGS laboratory in Lima, Peru. Gold was analyzed by fire assay on a 30 gram sample with atomic adsorption spectrophotometer (AAS) finish. Samples above 5.0 g/t Au were repeated by fire assay on a 30 gram sample with gravimetric finish. Copper was analyzed as part of a multielement package by inductively coupled plasma mass spectroscopy (ICP-MS) following multiacid digestion. Blank, standard and duplicate samples were routinely inserted for quality assurance and quality control.

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.

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