|By Marketwired .||
|February 15, 2013 03:20 PM EST||
TORONTO, ONTARIO -- (Marketwire) -- 02/15/13 -- Seafield Resources Ltd. ("Seafield" or "the Company") (TSX VENTURE:SFF) is pleased to announce assay results from 5 additional drill holes carried out as part of the ongoing 6,800-metre infill diamond drilling program at the Company's Miraflores Deposit in the Quinchia District, Department of Risaralda, Colombia.
-- Drill hole QM-DH-50 intersected 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, 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.
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 (See Figure 1). 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.
Table 1 below summarizes the gold and silver assay results of the five diamond drill holes.
Table 1 - 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 6 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 1.9m, a sample of 66.6 g/t Au over 2.0m and a sample of 36.1 g/t Au over 1.5m.
Table 2 - Drill Hole Coordinates:
Easting Northing Elevation Azimuth Inclination Depth Drill Hole (m) (m) (m) (degrees) (degrees) (m) ---------------------------------------------------------------------------- QM-DH-48 423,097 584,986 1,457 257 -43 222.0 QM-DH-50 423,171 585,065 1,397 262 -60 415.6 QM-DH-51 423,036 585,195 1,493 253 -43 130.0 QM-DH-53 423,021 585,241 1,472 243 -71 251.5 UM-DH-001 423,061 585,049 1,362 257 -27 203.6
The azimuth, dip and total length of each drill hole is shown in Table 2. 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. Figure 1 shows the location of each hole and the vertical section for each hole is shown in Figures 2 to 6 (see below).
Seafield expects to complete its infill drilling program by the end of Q1 2013. The 3D geological model and the resource estimate will be updated in Q2 2013 that will be the basis for the updated PEA, also scheduled for completion in Q2 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 CEO. "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%-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.
To view "Figure 1 - Plan View of Miraflores Deposit", please visit the following link: http://media3.marketwire.com/docs/SFF215Figure1.pdf.
To view "Figure 2 - Vertical Section of Miraflores Deposit - Hole QM-DH-48", please visit the following link: http://media3.marketwire.com/docs/SFF215Figure2.pdf.
To view "Figure 3 - Vertical Section of Miraflores Deposit - Hole QM-DH-50", please visit the following link: http://media3.marketwire.com/docs/SFF215Figure3.pdf.
To view "Figure 4 - Vertical Section of Miraflores Deposit - Hole QM-DH-51", please visit the following link: http://media3.marketwire.com/docs/SFF215Figure4.pdf.
To view "Figure 5 - Vertical Section of Miraflores Deposit - Hole QM-DH-53", please visit the following link: http://media3.marketwire.com/docs/SFF215Figure5.pdf.
To view "Figure 6 - Vertical Section of Miraflores Deposit - Hole UM-DH-001", please visit the following link: http://media3.marketwire.com/docs/SFF215Figure6.pdf.
Review by Qualified Person, Quality Control and Reports
Giovanny Ortiz, Vice President of Exploration for Seafield Resources Ltd., 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 # 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. 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.
For additional technical information on the Miraflores Deposit, please refer to the Company's technical report (the "Technical Report") entitled "Technical Report, Seafield Resources Ltd., Quinchia Project, Quinchia District, Republic Colombia" dated January 31, 2012, prepared by Scott E. Wilson, C.P.G., of Scott E. Wilson Consulting, Inc., available on SEDAR at www.sedar.com and on the Company website at www.sffresources.com.
About Seafield Resources Ltd.
Seafield Resources Ltd. (TSX VENTURE:SFF) is a mineral exploration company currently focused on advancing its Miraflores Gold Deposit towards feasibility level. Seafield's 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 (77Mt at a cut-off of 0.3 g/t Au) and an Inferred resource estimate of 103,043 ounces gold at 0.6 g/t Au (5.5Mt at a cut-off of 0.3 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 (57Mt at a cut-off of 0.3 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.
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.
As data explodes in quantity, importance and from new sources, the need for managing and protecting data residing across physical, virtual, and cloud environments grow with it. Managing data includes protecting it, indexing and classifying it for true, long-term management, compliance and E-Discovery. Commvault can ensure this with a single pane of glass solution – whether in a private cloud, a Service Provider delivered public cloud or a hybrid cloud environment – across the heterogeneous enter...
Dec. 3, 2016 06:15 PM EST Reads: 1,506
"IoT is going to be a huge industry with a lot of value for end users, for industries, for consumers, for manufacturers. How can we use cloud to effectively manage IoT applications," stated Ian Khan, Innovation & Marketing Manager at Solgeniakhela, in this SYS-CON.tv interview at @ThingsExpo, held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 3, 2016 05:30 PM EST Reads: 4,035
Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more business becomes digital the more stakeholders are interested in this data including how it relates to business. Some of these people have never used a monitoring tool before. They have a question on their mind like “How is my application doing” but no id...
Dec. 3, 2016 05:15 PM EST Reads: 2,132
@GonzalezCarmen has been ranked the Number One Influencer and @ThingsExpo has been named the Number One Brand in the “M2M 2016: Top 100 Influencers and Brands” by Onalytica. Onalytica analyzed tweets over the last 6 months mentioning the keywords M2M OR “Machine to Machine.” They then identified the top 100 most influential brands and individuals leading the discussion on Twitter.
Dec. 3, 2016 05:15 PM EST Reads: 1,996
Information technology is an industry that has always experienced change, and the dramatic change sweeping across the industry today could not be truthfully described as the first time we've seen such widespread change impacting customer investments. However, the rate of the change, and the potential outcomes from today's digital transformation has the distinct potential to separate the industry into two camps: Organizations that see the change coming, embrace it, and successful leverage it; and...
Dec. 3, 2016 03:15 PM EST Reads: 3,220
Extracting business value from Internet of Things (IoT) data doesn’t happen overnight. There are several requirements that must be satisfied, including IoT device enablement, data analysis, real-time detection of complex events and automated orchestration of actions. Unfortunately, too many companies fall short in achieving their business goals by implementing incomplete solutions or not focusing on tangible use cases. In his general session at @ThingsExpo, Dave McCarthy, Director of Products...
Dec. 3, 2016 02:45 PM EST Reads: 518
The Internet of Things (IoT) promises to simplify and streamline our lives by automating routine tasks that distract us from our goals. This promise is based on the ubiquitous deployment of smart, connected devices that link everything from industrial control systems to automobiles to refrigerators. Unfortunately, comparatively few of the devices currently deployed have been developed with an eye toward security, and as the DDoS attacks of late October 2016 have demonstrated, this oversight can ...
Dec. 3, 2016 02:45 PM EST Reads: 689
Machine Learning helps make complex systems more efficient. By applying advanced Machine Learning techniques such as Cognitive Fingerprinting, wind project operators can utilize these tools to learn from collected data, detect regular patterns, and optimize their own operations. In his session at 18th Cloud Expo, Stuart Gillen, Director of Business Development at SparkCognition, discussed how research has demonstrated the value of Machine Learning in delivering next generation analytics to impr...
Dec. 3, 2016 02:15 PM EST Reads: 6,952
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smar...
Dec. 3, 2016 02:00 PM EST Reads: 470
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
Dec. 3, 2016 01:30 PM EST Reads: 2,127
Businesses and business units of all sizes can benefit from cloud computing, but many don't want the cost, performance and security concerns of public cloud nor the complexity of building their own private clouds. Today, some cloud vendors are using artificial intelligence (AI) to simplify cloud deployment and management. In his session at 20th Cloud Expo, Ajay Gulati, Co-founder and CEO of ZeroStack, will discuss how AI can simplify cloud operations. He will cover the following topics: why clou...
Dec. 3, 2016 01:15 PM EST Reads: 625
Internet of @ThingsExpo, taking place June 6-8, 2017 at the Javits Center in New York City, New York, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @ThingsExpo New York Call for Papers is now open.
Dec. 3, 2016 01:00 PM EST Reads: 1,872
"ReadyTalk is an audio and web video conferencing provider. We've really come to embrace WebRTC as the platform for our future of technology," explained Dan Cunningham, CTO of ReadyTalk, in this SYS-CON.tv interview at WebRTC Summit at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 3, 2016 01:00 PM EST Reads: 324
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, discussed the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
Dec. 3, 2016 12:45 PM EST Reads: 1,952
Successful digital transformation requires new organizational competencies and capabilities. Research tells us that the biggest impediment to successful transformation is human; consequently, the biggest enabler is a properly skilled and empowered workforce. In the digital age, new individual and collective competencies are required. In his session at 19th Cloud Expo, Bob Newhouse, CEO and founder of Agilitiv, drew together recent research and lessons learned from emerging and established compa...
Dec. 3, 2016 12:45 PM EST Reads: 736
Everyone knows that truly innovative companies learn as they go along, pushing boundaries in response to market changes and demands. What's more of a mystery is how to balance innovation on a fresh platform built from scratch with the legacy tech stack, product suite and customers that continue to serve as the business' foundation. In his General Session at 19th Cloud Expo, Michael Chambliss, Head of Engineering at ReadyTalk, discussed why and how ReadyTalk diverted from healthy revenue and mor...
Dec. 3, 2016 12:15 PM EST Reads: 1,508
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...
Dec. 3, 2016 11:30 AM EST Reads: 2,091
We are always online. We access our data, our finances, work, and various services on the Internet. But we live in a congested world of information in which the roads were built two decades ago. The quest for better, faster Internet routing has been around for a decade, but nobody solved this problem. We’ve seen band-aid approaches like CDNs that attack a niche's slice of static content part of the Internet, but that’s it. It does not address the dynamic services-based Internet of today. It does...
Dec. 3, 2016 11:30 AM EST Reads: 851
You have great SaaS business app ideas. You want to turn your idea quickly into a functional and engaging proof of concept. You need to be able to modify it to meet customers' needs, and you need to deliver a complete and secure SaaS application. How could you achieve all the above and yet avoid unforeseen IT requirements that add unnecessary cost and complexity? You also want your app to be responsive in any device at any time. In his session at 19th Cloud Expo, Mark Allen, General Manager of...
Dec. 3, 2016 11:15 AM EST Reads: 1,640
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
Dec. 3, 2016 10:45 AM EST Reads: 826