TORONTO, ONTARIO–(Marketwired – Nov. 6, 2017) – Eastmain Resources Inc. (“Eastmain” or the “Company”) (TSX:ER) (OTCQX:EANRF) is pleased to announce initial drilling results from 6 holes (3,738 m) of a 15,000 m extension drilling program at the Eau Claire deposit targeting the 400 – 850 m vertical depth levels, located on the 100%-owned Clearwater Project in the emerging James Bay gold camp (see FIGURES 1, 2).
Intercepted High-Grade Schist (“HGS”) mineralization demonstrated grades and thicknesses characteristic of this type veining at Eau Claire. Several intercepts of the extensive Quartz-Tourmaline (“QT”) vein suite were also encountered in the reported holes, which targeted the 350 m to 550 m vertical depth levels of the deposit.
Drilling Highlights Include:
- Interpreted extension of the HGS-02 vein by 135 m downdip (ER17-803 – vertical depth 550 m) and 50 m to the east (ER17-793 – vertical depth 400 m)
- ER17-803 – 8.7 g/t Au over 11.8 m; incl. 14.0 g/t Au over 5.0 m and a second interval of 6.3 g/t Au over 12 m incl. 13.5 m over 3.5 m
- ER17-793 – 4.31 g/t Au over 11.4 m incl. 10.9 g/t Au over 3.3 m
- HGS veins extend below the known limits of the deposit’s defined resources
- QT vein intercepts also confirm continuity of this style of mineralization at depth
Claude Lemasson, Eastmain President and CEO, commented, “We are encouraged by these results downdip as they extend both the HGS and QT veins. Given the broader average widths of the HGS veins and their extension to depth, we expect them to play an important role in future underground mine development. With two drills turning, we look forward to further reporting on our 15,000 m program and commencing our PEA work.”
A summary of selected high-grade assay results from this drilling are presented in TABLE 1 below. TABLE 2 represents the complete set of significant results.
TABLE 1: Highlights from the Eau Claire Extension Drilling
|Type||Drill Hole||From||To||Interval||Gold Assay||Vertical Depth (m)3||Zone|
|1.||Intervals are presented in core length; true width will vary depending on the intersection angle of the hole with the targeted zone. Holes are generally planned to intersect vein structures as close perpendicular as possible and true widths are estimated to be 75%-85% of downhole widths. However, holes reported in this press release have been drilled obliquely to veins and true widths are estimated to be in the range of 50% of core length.|
|2.||For known mineralized zones, intervals are based on geological observations and limited compositing of veins. Assays presented are not capped. Intercepts occur within geological confines of major zones but have not been correlated to individual vein domains at this time.|
|3.||Vertical depth is measured from the surface to the mid-point of the reported interval.|
|4.||Italicized & bolded figures represent High Grade Schist vein intercepts|
Holes reported in this press release targeted the base of the defined 450W QT and HGS vein systems between 350 m and 550 m vertical depth. To reach this region of the deposit and obtain information in time for the PEA, drills were positioned on the north side of Tonalite Lake and the drill direction was reversed. As a result, intersections reported cut more obliquely to the vein systems but provide important vein location and assay information.
The 15,000 m program consists of expansion and confirmation focused drilling, targeting the 400 m to 850 m vertical depth level in the southeast section of the deposit. The drilling is designed to strengthen resource interpretations in an area of limited drilling. In particular, drilling is focused on the extension of the HGS veins which are understood to develop significant widths and whose importance to the underground development of Eau Claire increased significantly in the recently issued Eau Claire Mineral Resource Update (see press release dated, October 26, 2017).
Drilling results will be incorporated into an updated mineral resource estimate, focused improving and increasing resources from the depth of current deposit limits to the 850 m level. The updated mineral resource will set the foundation for the upcoming Eau Claire Preliminary Economic Assessment (‘PEA’) expected in 2Q 2018.
Table 3: Hole Location Information
|Zone||Hole ID||Azimuth||Dip||UTM Coordinates||Elevation||Hole Length|
To view FIGURES 1 and 2, please click on the following link: http://www.eastmain.com/_resources/news/Images/ER-171106_CW_PR_PlanMap_and_Section.pdf
To view TABLE 2, please click on the following link: http://www.eastmain.com/_resources/news/Images/ER-171106-ECdrilling_Table2.pdf
This press release was compiled and reviewed by William McGuinty, P. Geo., Eastmain’s VP Exploration and Qualified Person under National Instrument 43-101. Please see Eastmain press release dated July 13, 2017 or the Company’s 2016 AIF, filed on www.sedar.com under the company’s profile, for a description of data verification and QA/QC procedures.
About Eastmain Resources Inc. (TSX:ER)
Eastmain is a Canadian exploration company with 100% interest in the Eau Claire and Eastmain Mine gold deposits, both of which are located within the James Bay District of Quebec. Clearwater, host of the Eau Claire deposit, is the Company’s core asset with access to superior infrastructure in a favourable mining jurisdiction. Eastmain also holds a pipeline of exploration projects in this new Canadian mining district, including being a partner in the Éléonore South Joint Venture.
Forward- Looking Statements – Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. Forward-looking statements consist of statements that are not purely historical, including statements regarding beliefs, plans, expectations or timing of future plans, and include, but not limited to, statements with respect to the potential success of the Company’s future exploration and development strategies. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Eastmain, including, but not limited to the impact of general economic conditions, industry conditions, dependence upon regulatory approvals, the availability of financing, timely completion of proposed studies and technical reports, and risks associated with the exploration, development and mining industry generally such as economic factors as they affect exploration, future commodity prices, changes in interest rates, safety and security, political, social or economic developments, environmental risks, insurance risks, capital expenditures, operating or technical difficulties in connection with development activities, personnel relations, the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of Mineral Resources, contests over property title, and changes in project parameters as plans continue to be refined. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company assumes no obligation to update such information, except as may be required by law.
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