Aug 3 2013
Seafield Resources Ltd. (“Seafield” or “the Company”) is pleased to announce that a National Instrument 43-101 compliant technical report titled “NI 43-101 Technical Report, Preliminary Economic Assessment, Miraflores Property, Quinchía District, Colombia,” dated August 2, 2013 has been filed in support of the June 19, 2013 press release outlining the updated Preliminary Economic Assessment at the Company’s Miraflores Deposit. The updated PEA was completed by SRK Consulting, (U.S.), Inc.
The report is available on SEDAR and the Company’s website at www.sffresources.com.
Updated PEA Contributions and Qualified Persons
The updated PEA has been prepared in accordance with the Standards of Disclosure for Mineral Projects as defined by National Instrument 43-101 of the Canadian Securities Administrators. The technical information relating to the updated PEA has been reviewed and approved by Eric Olin, MSc, MBA, SME-RM (SRK Consulting), John Tinucci, PhD, PE (SRK Consulting), Bret Swanson, BEng Mining, MAusIMM, MMSAQP (SRK Consulting), Joanna Poeck, BEng Mining, MMSA (SRK Consulting), Mark Willow, MSc, CEM, SME-RM (SRK Consulting), and Scott E. Wilson, CPG (Metal Mining Consultants), the Qualified Persons responsible for preparation of the updated PEA, each of whom have verified the technical data and assumptions in the Technical Report and are independent of Seafield Resources Ltd.
About Seafield Resources Ltd.
Seafield Resources Ltd. (TSX-V: SFF) is a development stage company currently focused on completing a bankable feasibility study on its Miraflores Gold Deposit. Seafield’s 6,757-hectare Quinchía Gold Project is located in the Department of Risaralda, 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 23% and a pre-tax net present value (5%) of $141M. The Company cautions that mineral resources are not mineral reserves and do not have demonstrated economic viability. Miraflores currently has a NI 43-101 compliant Measured and Indicated resource estimate of 1,816,000 ounces gold at 0.78 g/t Au and 3,555,000 ounces silver at 1.5 g/t Ag (72.6 million tonnes at a cut-off of 0.27 g/t Au) and an Inferred resource estimate of 62,000 ounces gold at 0.51 g/t Au and 275,000 ounces silver at 2.3 g/t Ag (3.8 million tonnes at a cut-off of 0.27 g/t Au). Additionally, the Company has a NI 43-101 compliant resource estimate for its Dosquebradas Deposit, also part of the Quinchía Gold Project, with an Inferred resource estimate totaling 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 TSX Venture Exchange (TSX-V) under the symbol SFF and in the United States using CUSIP 81173R101.
Source: http://www.sffresources.com/