Seafield Resources Announces Filing of NI 43-101 Technical Report for its Dosquebradas Deposit in Colombia
TORONTO, ONTARIO -- (Marketwire) -- 01/27/12 -- Seafield Resources Ltd. ('Seafield' or 'the Company') (TSX VENTURE: SFF) is pleased to report that it has filed a National Instrument 43-101 ('NI 43-101') compliant technical report related to its press release on December 13, 2011 announcing the maiden resource estimate for the Dosquebradas Deposit in the Company's Quinchia Gold Project. Seafield's 100%-owned, 6,757-hectare Quinchia Gold Project is located in the Department of Risaralda, Colombia.
The independent technical report, entitled 'Technical Report, Seafield Resources Ltd., Dosquebradas Project, Quinchia District, Colombia' (the 'Technical Report'), dated December 13, 2011, was prepared for Seafield by Scott E. Wilson Consulting, Inc. of Englewood, Colorado. The Technical Report is available under the Company's profile on SEDAR at www.sedar.com and on the Company's website at www.sffresources.com.
The NI 43-101 compliant resource estimate on the Company's Dosquebradas Deposit includes an inferred resource of 920,772 ounces gold grading 0.5 g/t gold (57.8 million tonnes at a cut-off grade of 0.3 g/t gold). A 5,000-metre diamond drill program is currently underway at Dosquebradas.
'We will continue to delineate the resource at Dosquebradas with an aim to grow the global resource of Seafield's Quinchia Gold Project,' commented Seafield's President and CEO, Cesar Lopez.
ON BEHALF OF THE BOARD:
Cesar Lopez, President, CEO & Director
Qualified Person
Scott Wilson of Scott E. Wilson Consulting, Inc. of Englewood, Colorado prepared the Miraflores Project resource estimates. Mr. Wilson is an independent qualified person as defined by National Instrument 43-101. He is a Certified Professional Geologist and member of the American Institute of Professional Geologists (CPG #10965) and a Registered Member (#4025107) of the Society of Mining and Metallurgy and Exploration, Inc., a professional association and designation recognized by the Canadian regulatory authorities. Mr. Wilson verified the data disclosed in this report, including the sampling, analytical and test data underlying the information contained in this report. Verification included a review and validation of the applicable assay databases and reviews of assay certificates.
About Seafield Resources Ltd.
Seafield Resources Ltd. is a mineral exploration company focused on acquiring and advancing precious metals projects in Colombia. Seafield's 100%-owned 6,575-hectare Quinchia Gold Project is located in department of Risaralda, Colombia. Seafield's Miraflores Deposit currently has a NI 43-101 compliant measured and indicated resource of 1,227,593 ounces gold at 0.9 g/t and an inferred resource of 354,512 ounces gold at 0.9 g/t. Additionally, the Company recently initiated an NI 43-101 compliant resource estimate for its Dosquebradas Deposit, with inferred resources totalling 920,772 ounces gold at 0.5 g/t. 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.
Forward-Looking Statement
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.
Contacts:
Seafield Resources Ltd.
David MacMillan
Investor Relations
(416) 361-3434 ext. 202
dmacmillan@sffresources.com
www.sffresources.com
