Follow Up Drill Program at Marshall Lake Property
- Follow up drill program to commence before 1st April
- IP Surveys locate several new targets and extend showings
- Lease and Jewel Box outcrops to be drilled
- Approximately 12 drill holes targeting near surface mineralization
East West Resource Corporation (TSX-V: EWR) and Eyeconomy Holdings PLC (UK-PLUS: EYE) are pleased to announce a follow-up drill program on the Marshall Lake property following the success of the December 2006 program. Drilling is expected to commence before the 1st April and continue through the spring break-up period.
Drilling will test a number of new target areas outlined by the ongoing Induced Polarization (IP) Survey and trenching. These targets include the southeast extension of Lease and Jewel Box copper showing where a 400 m long strong IP anomaly extends beyond these showings.
Additional mineralization traced by IP at Gazooma and a new IP anomaly 600 m south of Gazooma will also be tested. The new copper showing on the east end of the Teck Hill claim as well as a zinc occurrence 300 m east of this copper showing will be tested.
An airborne EM (INPUT) anomaly 1,500 m southeast of the new copper showing has been located by the IP survey, which is situated within the projection of the Marshall mineralization tuff sequence. This is a high priority drill target.
Approximately 12 drill holes are planned with most being 100 m or less, since the bulk of the mineralization occurs near surface.
The project set out above is being supervised by R. Middleton, P.Eng, who is the qualified person and responsible for quality control of the assaying and reporting. More details are available on all of East West’s properties at www.eastwestres.com.
About the Marshall Lake Project:
East West Resource Corporation and Eyeconomy Holdings PLC each hold a 50% interest in the Marshall Lake Copper Zinc VMS project located 310 kilometres north of Thunder Bay, Ontario, Canada.
The Marshall Lake area was explored between 1954 and 1996 and resulted in the discovery of a series of high grade near surface copper zinc deposits.
The partner’s long-term strategy is to define and develop near surface base metal resources on the property while considering the deeper potential of the property as the database is developed.
The property became accessible after 2000 following the completion of all weather roads by logging operators. Road access now permits the deployment of heavy digging equipment, modern geophysical tools and significantly reduces exploration costs. During the second half of 2006 the joint venture partners built a network of drill access trails focusing on exposing the existing showings.
The partners now consider that they have control over the whole Marshall Lake base metal camp with an exploration area of more than forty-three square miles under option.
Two historical inferred mineral resource estimates are available from previous work based on an area within the property called the Main zone located 4 km northeast of the Gazooma copper zone and 2.5km northwest of the G Zone:
K Zone (Main zone)
103 Zone (Main zone)
Both the work by Sullivan and the work from A. S. Bayne were completed prior to NI43-101. All of the exploration results disclosed as mineral resource estimate immediately above are historic in nature and do not presently conform to National Instrument 43-101 Standards of Disclosure for Mineral Projects. They have been reviewed, but not verified, by Robert S. Middleton, PEng, who is the company's designated qualified person and responsible for the verification and quality assurance of its exploration data and analytical results. In the opinion of the qualified person, based on the information available, the mineralization on the Main or "K" Zone would be classified as an Inferred Mineral Resource based on the definition by the CIMM, since it will be required to do further in-fill drilling to establish grades. Therefore, the historic figures should not be relied on.
The joint venture partners will each contribute 50% to ongoing exploration expenditure.
ON BEHALF OF THE BOARD OF DIRECTORS
Blake Colvin, Director