The location of the drill holes are highlighted below (See Figures 2 - 7). QM-DH-38 was drilled from the east, outside of the breccia pipe, towards the west as part of Seafield's infill drilling program aimed at improving the confidence in the current resource at Miraflores. This drill hole confirms the vertical and horizontal extension of mineralization previously intersected in drill hole QM-DH-32A (194.9 m of 1.57 g/t Au, including 21.15 m of 1.66 g/t Au and 26.0 m of 3.86 g/t Au, see press release dated, June 7, 2012) and QM-DH-33 (114.7 m at 1.89 g/t Au, including 10.6 m at 11.97 g/t Au, see press release dated, June 19, 2012).
QM-DH-39 was drilled inside the breccia to the WNW. QM-DH-41 was drilled in the western part of the breccia to the WSW. Both holes have confirmed the continuity and vertical extension of high grade mineralization in veins and in the breccia at the western border of the pipe.
QM-DH-40 and QM-DH-42 were both collared inside the breccia and drilled from the southeast portion with an azimuth of 246 degrees and from the central southern portion with an azimuth of 254 degrees, respectively. Both holes intersected continuous mineralization and confirmed the vertical extension of mineralization (both high and low-grades) previously intersected in hole QM-DH-25 (161 m at 0.78 g/t Au, including 36.3 m at 0.95 g/t Au and 6.45 m at 3.02 g/t Au, see press release dated January 25, 2012). Hole QM-DH-43 was drilled to the southwest and collared outside of the breccia at an azimuth of 263 degrees and also confirmed this mineralization.
Seafield expects to finalize its infill drilling program by the end of 1Q 2013. This information will be used to update the resource model in Q2 2013 that will be the basis for the Miraflores updated PEA and the feasibility study. The Company has amended the infill diamond drill campaign from 8,000 metres to 6,800 metres, after optimizing the metres required for the updated resource estimate.
"These results are consistent with the grades we have historically been reporting at Miraflores," commented Cesar Lopez, Seafield's President and CEO. "Our expectation is that we will continue to see good results from the remaining 5,600 metres of drilling to be completed by the end of Q1 2013. We will also be incorporating the impact of any potential silver credit in the updated PEA, scheduled to be completed in Q2 2013."
Seafield's Miraflores Deposit is situated in the Company's 100%-owned, 6,757-hectare, Quinchia Gold Project. Miraflores is a low sulphidation epithermal gold deposit located in Colombia's mineral-prolific Mid-Cauca gold belt. The mineralization is located in a hydrothermal breccia pipe with free gold associated with cement materials (the matrix) and high grade structures where gold is associated with zinc, lead, copper and iron. At surface, the breccia pipe has a drill-tested diameter of 250 metres by 280 metres. The breccia pipe widens and remains open at depth with a drill-tested vertical extent of 600 metres.
To view "Figure 1 - Plan View of Miraflores Deposit", please visit the following link: http://media3.marketwire.com/docs/848562Figure1.pdf.
To view "Figure 2 - Vertical Section of Miraflores Deposit - Hole QM-DH-38", please visit the following link: http://media3.marketwire.com/docs/848562Figure2.pdf.
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