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December 2, 2010

Seafield Drills World Class Result at Quinchia

Last week it was Richfield Ventures (RVC, TSX-V).  Today it’s Seafield Resources (SFF, TSX-V).  Two companies in the “BMR Portfolio” have delivered world class drill results over the last 8 trading days.  Who could be next, we wonder?

The third hole drilled at Seafield’s Miraflores Property, which forms part of its Quinchia Project in Colombia, has returned 449 metres grading 1.29 g/t Au.  This deposit already has a 43-101 inferred resource of 18.6 million tonnes grading 1.3 g/t Au and the result from this hole, drilled at an angle of -50 degrees to a depth of 596 metres from the northeast contact to the southwest contact through the centre of the breccia body, certainly adds to the resource.  The 43-101 was based on just 10 drill holes between 2006 and 2007, plus underground samples, and Seafield also reported today that visuals of other holes from this program at Miraflores (12 holes were drilled altogether) suggest the breccia body is more extensive at depth than was previously believed.

Seafield was halted at 9:22 am Pacific with the last trade at 23 cents.  The stock did not resume trading today but it’s safe to assume it’ll be cleared for trading by the opening bell tomorrow.

Miraflores is one of three key properties Seafield has at Quinchia.  The other two are Dos Quebradas and Chuscal.  The company’s goal is to develop a combined resource of at least several million ounces which is certainly realistic in our view given today’s result from Miraflores and the significant geological potential we know exists at Dos Quebradas, in particular, and Chuscal.  We’ll have more on Seafield later today.

2 Comments

  1. Hi Jon,
    Fantastic hole and more to come. Good things come to those who can wait. Bring it on!!

    Comment by patrick — December 2, 2010 @ 2:42 pm

  2. BMR……The next BIG ONE is CUI tsx-v!!!!!!! Going extremely cheap today!!!! Wont be long now….maybe tomorrow to see some more drill results from Tanzania….the HOT spot right now!

    Comment by Jim — December 2, 2010 @ 2:56 pm

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