New York, NY- June 7 2012 (www.Investorideas.com Mining Newswire ) – Investorideas.com , a leader in sector stock research for independent investors issues an alert for TSX mining stock ,
Seafield Resources Ltd. (TSX.V: SF) , trading up at $0.17,gaining $ 0.0350 or (25.93%) as of 2:20PM EDT on volume of over 2.2 Million shares.
The Company today announced further results from the ongoing 5,000-metre diamond drill program at the Company’s Miraflores Deposit in the Quinchia District, Department of Risaralda, Colombia.
– Drill whole QM-DH-32A intersected 194.90 m of 1.57 g/t Au, including
21.15 m of 1.66 g/t Au, 26.00 m of 3.86 g/t Au and 6.00 m of 11.04 g/t
– Drill hole QM-DH-31 intersected 107.90 m of 0.61 g/t Au, including 16.50
m of 1.82 g/t Au;
– QM-DH-31, drilled from east to west and QM-DH-32A, drilled from east to
southwest, were the initial holes drilled in Seafield’s infill drilling
program to improve the confidence of Miraflores’ current resource. These
drill holes confirm the horizontal extension of high-grade
mineralization in the vein and matrix of the breccia pipe from where it
was previously intersected by QM-DH-20 (114.25 m at 0.97 g/t Au – press
released on January 9, 2012).
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About Seafield Resources Ltd.
Seafield Resources Ltd. is a mineral exploration company currently focused on advancing its Miraflores Gold Deposit towards feasibility level. Seafield’s 100%-owned 6,757-hectare Quinchia Gold Project is located in the Department of Risaralda of Colombia. SRK Consulting Inc’s (Denver) Preliminary Economic Assessment on the Miraflores Deposit indicates robust economics with a pre-tax internal rate of return of 50% and a pre-tax net present value (8%) of $249M (see corporate PEA presentation at http://bit.ly/MFeL7q). Miraflores currently has a NI 43-101 compliant Measured and Indicated resource estimate of 1,925,542 ounces gold at 0.8 g/t Au and an Inferred resource estimate of 103,043 ounces gold at 0.6 g/t Au. Additionally, the Company has a NI 43-101 compliant resource estimate for its Dosquebradas Deposit, also part of the Quinchia Gold Project, with an Inferred resource estimate totalling 920,772 ounces gold at 0.5 g/t Au. Seafield Resources Ltd. trades its shares on the Toronto Venture Exchange (TSX-V) under the symbol SFF and in the United States using CUSIP 81173R101. For more details on the Company, please visit www.sffresources.com.
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