Five days after shares of Seafield Resources (SFF-V) soared 147% to 57¢ on drill results of 449 metres grading 1.29 grams gold per tonne at its Miraflores deposit in Risaralda, Colombia, the junior has moved its drills 3 km to the northwest to its Dosquebradas area with early channel samples returning 1.75 grams gold over 94 metres.
Continuous channel samples, each two metres in length, collected from a trench at Dosquebradas, returned the above intercept, including 2.31 grams gold over 68 metres, 3.83 grams gold over 22 metres, and 5.51 grams gold over 8 metres. The maximum sample value was 7.89 grams over 2 metres.
The trench extends east-west and is close to the surface trace of a hole drilled into the Dosquebradas porphyry intrusion in 2006 by former operator AngloGold Ashanti (AAUK-Q, AAL-L). That hole, DQ-DD-3, about 200 metres below the trench, returned grades of 0.63 gram gold over 90 metres and 1.67 grams gold over 39.5 metres.
Seafield plans to drill up to 3,000 metres in eight holes at Dosquebradas. So far the company has drilled 1,336 metres in three holes. Zones appear to be made up of sheeted quartz-magnetite veinlets with minor pyrite in altered quartz diorite porphyry, breccia and basalt, which are similar to that found in DQ-DD-3.
The gold-in-soil anomaly defining the northern extension of the Dosquebradas porphyry on Seafield’s property has an area of about 700 metres by 550 metres as defined by soil samples above 0.05 gram gold per tonne. Values in soils are as high as 0.58 gram gold per tonne.
Trenching in one location at the southern end of the anomaly has exposed sheeted quartz veinlets crosscutting quartz diorite porphyry and basalt wall-rock and containing iron-rich weathering products after magnetite or sulfides.
Seafield closed at 55¢ per share. Over the last year the company has traded between a low of 12.5¢ on Dec. 8 2009 and 77¢ per share on Dec. 6 2010.
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