Seafield Resources Ltd.
TSX VENTURE : SFF

Seafield Resources Ltd.

December 01, 2011 08:30 ET

Seafield Intersects 148.75 Metres of 0.51 g/t Gold and 0.05% Copper, 105.3 Metres of 0.76 g/t Gold and 0.08% Copper at Dosquebradas Prospect, Quinchia District, Colombia

TORONTO, ONTARIO--(Marketwire - Dec. 1, 2011) - Seafield Resources Ltd. (TSX VENTURE:SFF) ("Seafield" or the "Company") is pleased to announce drill results from two additional holes at the Dosquebradas gold prospect in the multi-million ounce Quinchía District located in the Mid-Cauca Porphyry Belt of Colombia.

To date, Seafield has drilled 9,454 metres in 20 drill holes at Dosquebradas. Results from two drill holes are being released today, which include:

  • QDQ-DH-17: 0.51 g/t gold and 0.05% copper over 148.75 metres and 1.60 g/t gold and 0.03% copper over 20.0 metres.

  • QDQ-DH-18: 1.23 g/t gold and 0.06% copper over 30.6 metres and 0.76 g/t gold and 0.08% copper over 105.3 metres.

Table 1 - 2011 Dosquebradas Drill Results

HOLE FROM (metres) TO (metres) INTERVAL (metres) Gold (g/t) Copper %
QDQ-DH-17 28.0 43.95 15.95 0.31 0.01
and 78.6 128.2 49.6 0.31 0.02
and 138.1 183.9 45.8 0.21 0.02
and 185.9 334.65 148.75 0.51 0.05
and 344.65 370.9 26.25 0.45 0.04
and 375.3 417.0 41.7 0.81 0.09
and 463.8 479.2 15.4 0.49 0.20
and 495.5 515.5 20.0 1.60 0.03
and 580.45 587.2 6.75 0.38 0.04
QDQ-DH-18 123.7 144.45 20.75 0.22 0.04
and 157.4 168.1 10.7 0.28 0.02
and 191.3 209.3 18.0 0.23 0.03
and 211.3 241.9 30.6 1.23 0.06
and 246.6 291.5 44.9 0.47 0.05
and 321.5 331.5 10.0 0.20 0.03
and 354.2 459.5 105.3 0.76 0.08
and 476.2 507.8 31.6 0.26 0.06
and 509.8 544.85 35.05 0.29 0.05
and 582.45 596.1 13.65 0.22 0.03
Grades reported are uncut. (There are no high grades that require cutting.)
Hole QDQ-DH-17 includes a sample of 15.75 g/t Au over 1.80 metres

These drill hole results confirm the continuity of the gold and copper mineralization in the central part of the mineralized zone at Dosquebradas. The intersection in drill hole QDQ-DH-18 of 105.3 metres of 0.76 g/t gold and 0.08% copper correlates with the intersection in drill hole QDQ-DH-02, some 75 metres above, of 199.9 metres of 0.98 g/t gold and 0.09% copper (see Company press release dated July 25, 2011). Drill hole QDQ-DH-17, located 25 m to the south of QDQ-DH-02, intersected 0.51 g/t gold and 0.05% copper over 148.75 metres.

Seafield's President and CEO, Cesar Lopez, stated "We are pleased with the progress that has been made at Dosquebradas and look forward to releasing an initial resource estimate for the zone before the end of the year. Combined with our NI 43-101 resource at Miraflores, Seafield is positioning itself to be a leader in the Quinchia district."

Earlier this year Seafield announced the NI 43-101 compliant resource (previously reported in the company's press release dated May 26, 2011) on the Miraflores breccia pipe deposit. This includes a Measured and Indicated resource of 1,227,593 ounces of gold grading 0.9 g/t gold contained in 44,717,000 tonnes at a cut-off grade of 0.3 g/t Au. Additionally, the resource contains an Inferred resource of 354,512 ounces of gold grading 0.9 g/t gold in 12,252,000 tonnes at a cutoff grade of 0.3 g/t Au. The Dosquebradas gold prospect is 3 kilometres northwest of the Miraflores gold deposit.

The geology and drill locations are presented in Map 1. A drill plan map and cross sections are available on the Seafield website www.sffresources.com.

To view Map 1 – Geology and Drill Locations, please visit the following link: http://media3.marketwire.com/docs/SFF_Map1.pdf.

Qualified Person

Dr. Tom Henricksen is a qualified person as defined by National Instrument 43-101 and prepared or reviewed the scientific and technical information contained in this press release with respect to the assay results from the Dosquebradas drill program.

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. Multi-elements were analyzed by inductively coupled plasma mass spectroscopy (ICP-MS) following multi-acid digestion. Blank, standard and duplicate samples were routinely inserted for quality assurance and quality control.

About Seafield

Seafield Resources Ltd. is a mineral exploration company focused on acquiring and advancing precious metals projects in Colombia. Seafield's flagship prospects and deposits are located in the Quinchia District, located in the prolific Mid-Cauca gold belt with a land position spanning 6,757 hectares. For more details, please visit www.sffresources.com.

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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