Recent PP closed at a premium.
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The shares were acquired by a single strategic investor with a verypositive long term view of the potential at Seafield's Quinchia projectsin Colombia.
RESULTS TO DATE CALC'S OUT TO A POTENTIAL OF $1.35 BILLION !!
TORONTO, ONTARIO--(Marketwire - May 26, 2011) - Seafield Resources Ltd. (TSX VENTURE:SFF) ("Seafield"orthe "Company,") is pleased to announce an updated NI 43-101compliantresource estimate for its Miraflores property in the Quinchia district,Colombia. This includes a Measured and Indicated resource of 1,227,593ounces of gold grading 0.9 g/t gold contained in 44,717,000tonnes at acut off grade of 0.3 g/t Au. Additionally, the resource contains anInferred resource of 354,512 ounces of gold grading 0.9 g/t gold in12,252,000 tonnes at a cut off grade of 0.3 g/t Au.
This represents a significant increase inall categories, from the previous inferred resource estimate of776,000ounces at 1.295 g/t gold in 18,650 million tonnes, at a cut offgrade of0.5 g/t, (see press release dated 20 April 2010). Updatedgeological interpretations and increased drilling density have moved asignificant proportion of the resources into the measured and indicatedcategory.
NEWS FORTHCOMING
-A program of preliminary metallurgical test work is also underway at McClelland Laboratories Inc in Sparks,Nevada.
SUMMARY
From where i sit, it looks as though they may have been able to improve grades, tonnage or ounce totals substantially. If the rock is similar in effect to Ventana's, which i believe it to be so, this existing deposit could burgeon substantially ! This is a no brainer. Geologically and economically speaking !