Seafield Resources (SFF, TSX-V)

Seafield gained half a penny for the week, closing Friday at 34 cents after briefly dipping below its rising 200-day SMA at 31 cents earlier in the week…declining 7.5 cents to 34 cents, but certainly not for a lack of decent drill results…on Monday the company reported assays from the first three holes completed at Dos Quebradas with hole #2 intersecting a whopping 511 metres grading 0.58 g/t Au…the hole ended in mineralization…hole #1 delivered 269 metres grading 0.37 g/t Au while hole #3 was drilled to define the eastern limit of mineralization and returned no significant results…a total of nine holes have now been drilled at Dos Quebradas with 11 planned for this phase of drilling…last month, the company reported that a second drill rig would start testing the nearby Santa Sofia Property by the end of February…the company has identified a promising porphyry target measuring 1,050 metres in length and 850 metres in width at Santa Sofia…a third target, La Loma, also appears very interesting…the geological case for Seafield’s Quinchia land package is compelling and we’re looking forward to more results from Dos Quebradas and elsewhere…the company has already outlined a 43-101 resource of nearly 800,000 ounces at its Miraflores Property, a number that’s expected to increase following the 12-hole, 4,000 metre program recently completed there…patient investors have an opportunity to do extremely well with this play given the geological merits of Quinchia and the real potential for 5 million+ ounces from several potential deposits…the company is sitting on at least $15 million in cash and has a very modest market cap of just over $51 million…Seafield has gained 475% since we made it the first company in the BMR model portfolio in the summer of 2009…