05:04:36 EDT Sat 11 Jul 2020
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Seafield Resources Ltd
Symbol SFF
Shares Issued 190,804,171
Close 2013-02-14 C$ 0.10
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Seafield drills 238.15 m of 2.06 g/t Au at Miraflores

2013-02-15 15:27 ET - News Release

Mr. Cesar Lopez reports

SEAFIELD DRILLS 238.15 M AT 2.06 G/T AU AND 1.82 G/T AG, INCLUDING 59.2 M AT 5.72 G/T AU AND 3.31 G/T AG AT MIRAFLORES, COLOMBIA

Seafield Resources Ltd. has released assay results from five additional drill holes carried out as part of the continuing 6,800-metre infill diamond drilling program at the company's Miraflores deposit in the Quinchia district, department of Risaralda, Colombia.

Highlights:

  • Drill hole QM-DH-50 intersected 238.15 metres at 2.06 grams per tonne gold and 1.82 g/t silver, including 59.2 m at 5.72 g/t Au and 3.31 g/t Ag, 26.45 m at 2.08 g/t Au and 1.82 g/t Ag, and 18 m at 1.85 g/t Au and 1.25 Ag;
  • Drill hole QM-DH-51 intersected 119.1 m of 1.34 g/t Au and 4.66 g/t Ag, from 1.9 m to 121.0 m, including 20.9 m at 4.68 g/t Au and 2.83 g/t Ag, confirming the continuous mineralization near surface;
  • Drill hole QM-DH-53 intersected 90.1 m at 0.85 g/t Au and 1.04 g/t Ag, including 7.5 m at 3.03 g/t Au and 1.7 g/t Ag.

Details

The assays reported in this press release represent the results of five diamond drill holes, which account for an additional 1,222.7 metres. Since November, 2012, 3,145.7 metres have been reported including this release. All holes reported so far have been drilled from surface, except for UM-DH-001, which was drilled underground. The new results continue to validate the continuity of mineralization in high-grade veins and in the breccia, near surface and with important vertical extension.

The attached table summarizes the gold and silver assay results of the five diamond drill holes.

                                   DRILL RESULTS

                            From         To   Interval         Au         Ag
Drill hole                   (m)        (m)        (m)      (g/t)      (g/t)

QM-DH-48                       3       20.1       17.1       0.66       2.37
And                        30.75       86.3      55.55       0.82       1.65
And                        106.3      131.7       25.4       1.24       2.63
And                        141.7     182.85      41.15       0.67       1.02
And                        189.4      212.4         23       0.77       0.79
QM-DH-50                   61.75     141.75         80       0.61       1.16
And                          146     384.15     238.15       2.06       1.82
including                  182.8        242       59.2       5.72       3.31
including                  247.5     273.95      26.45       2.08       1.82
including                  292.3      310.3         18       1.85       1.25
And                       396.15     412.15         16       0.68       0.95
QM-DH-51                     1.9     121.00      119.1       1.34       4.66
including                   10.6       31.5       20.9       4.68       2.83
including                   73.1     102.65      29.55       0.75      12.61
QM-DH-53                  124.80      214.9       90.1       0.85       1.04
including                 158.20     165.70        7.5       3.03        1.7
And                       224.70     251.50       26.8       0.60       0.86
UM-DH-001                      0       58.2       58.2       0.55          1
And                         61.8       84.1       22.3       1.02       1.34
And                        98.50     106.10        7.6       1.04       3.19
And                          116      128.4       12.4       0.43       0.94
And                        151.4      159.9        8.5       1.09       3.12
And                        167.6      203.6         36       0.75       1.58

Note: Only continuous intervals of mineralization above six metres with a
cut-off grade of 0.2 g/t Au are reported. Gold grades reported are cut to 20
g/t. Hole QM-DH-50 includes a sample of 22.6 g/t Au over 1.2 m, a sample of
31 g/t Au over 1.9 m, a sample of 66.6 g/t Au over 2.0 m and a sample of
36.1 g/t Au over 1.5 m.

Drill holes QM-DH-50 and QM-DH-53 were collared to the east outside of the Breccia. The rest of the holes reported in this release were collared within the breccia pipe. The new results continue confirming the vertical and horizontal extension of nearby mineralization in high-grade veins and breccia.

Seafield expects to complete its infill drilling program by the end of first quarter 2013. The 3-D geological model and the resource estimate will be updated in second quarter 2013 that will be the basis for the updated preliminary economic assessment, also scheduled for completion in second quarter 2013.

"These are fantastic results, and I congratulate Dave Prins and his team on the excellent job they are doing at Miraflores," commented Cesar Lopez, Seafield's president and chief executive officer. "We look forward to completing the current drill program at Miraflores and delivering results on schedule."

Seafield's Miraflores deposit is situated in the company's 100-per-cent-owned, 6,757-hectare Quinchia gold project. Miraflores is a low-sulphidation epithermal deposit located in Colombia's mineral-prolific Mid-Cauca gold belt. The deposit's mineralization is characterized by a hydrothermal breccia pipe with free gold associated with cement materials (the matrix), and high-grade structures where gold is associated with zinc, lead, copper and iron. At surface, the breccia pipe has a drill-tested diameter of 250 metres by 280 metres. The breccia pipe widens and remains open at depth with a drill-tested vertical extent of 600 metres.

Review by qualified person, quality control and reports

Giovanny Ortiz, vice-president of exploration for Seafield Resources, 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 drilling program. Mr. Ortiz is a fellow of the Australasian Institute of Mining and Metallurgy (membership No. 304612), a professional association and designation recognized by the Canadian regulatory authorities. Mr. Ortiz 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.

The core samples were split by rock saw, and half of the core was sampled. Core samples were prepared by ALS Colombia Ltda. in Medellin and were assayed at the ALS laboratory in Lima, Peru. Gold was analyzed by fire assay on a 30-gram sample with atomic adsorption spectrophotometer (AAS) finish. Samples above 10.0 g/t Au were repeated by fire assay on a 30-gram sample with gravimetric finish. Multielements were analyzed 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.

For additional technical information on the Miraflores deposit, please refer to the company's technical report entitled, "Technical Report, Seafield Resources Ltd., Quinchia Project, Quinchia District, Republic Colombia," dated Jan. 31, 2012, prepared by Scott E. Wilson, CPG, of Scott E. Wilson Consulting Inc., available on SEDAR and on the company website.

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