Eastfield exploring in Nevada

Preliminary exploration is under way on the Tonopah project of Eastfield Resources (VSE) in western Nevada.

The optioned Hill-of-Gold deposit and 89 surrounding claims that constitute the project comprise several targets where grab samples returned values of up to 0.073 oz. gold per ton. Previous drilling at the Hill-of-Gold outlined a minimum reserve of 20,000 oz. in a zone grading 0.036 oz. A larger, less-defined resource is estimated to contain 100,000 oz. of similar grade. The project area covers a Tertiary-aged rhyolite dome complex. The initial program will involve grid preparation, geological mapping, rock sampling and geophysical surveys. Trenching and drilling will follow. Elsewhere, Eastfield has granted an option to Consolidated Logan Mines (VSE) concerning a 51% interest in the Spanish Mountain property in the Cariboo mining district of British Columbia.

Logan is required to spend $1 million on the property and pay $200,000 in option payments over a 5-year period. An additional 19% interest can be earned by spending $500,000 and paying $50,000 over two years. Drilling and trenching indicate the existence of a gold resource of 950,000 tons grading 0.056 oz. (A geological resource of about 425,000 yards grading 0.02 oz. gold per yard is believed to exist on four overlapping placer claims.)