Eastmain Resources Inc.

Eastmain Resources Inc.

April 14, 2010 11:34 ET

Eastmain Mine Property Drill Program

TORONTO, ONTARIO--(Marketwire - April 14, 2010) - Eastmain Mines Inc., a wholly-owned subsidiary of Eastmain Resources Inc. (TSX:ER) announces that mobilization of fuel and drilling equipment is in progress, in preparation for drilling on its Eastmain Mine property, located in James Bay, Québec. A $3-million exploration budget, focused on drilling beneath the Eastmain Gold Deposit and regionally on the property, has been allocated for 2010. The objectives of the drill program are to expand measured and indicated resources and to search for additional gold resources nearby. Approximately 8,000 metres in 25 holes have been proposed to expand the A and B Zones. 20 drill holes, totaling 3,500 metres, are also proposed to test regional targets outside the limits of the deposit.

The Eastmain Gold Deposit is a high-grade, volcanic-hosted gold-copper system, that has been traced for over one kilometre in length and to a vertical depth of 400 metres. Placer Development discovered the deposit with airborne geophysical survey techniques in 1969. Drilling completed by Placer and MSV Resources Inc. (a wholly-owned subsidiary of Campbell Resources Inc.), in the 1980's outlined two mineralized zones, each containing exceptional drill results, including: 14.32 g/t Au (0.42 oz/ton) over 8.64 metres at 300 metres vertical depth in the A Zone and 53.3 g/t Au (1.56 oz/ton) over 13.2 metres, 200 metres below surface, within the B Zone. By 1995 the two companies had constructed a full mining camp, complete with it's own airstrip, developed the upper portion of the deposit with ramp access and over one-kilometre of underground workings and extracted over 100,000 tons of ore from the deposit. Historical resource estimates, which may no longer be NI43-101 compliant, indicate that the Eastmain Gold Deposit contains 255,750 ounces of gold and 4.1 million pounds of copper, including measured resources of 91,500 tons grading 0.268 ounces/ton gold and indicated resources of 786,600 tons at 0.294 ounces/ton gold (Campbell, 2004 Annual Report).

The property is accessible via a 170-kilometre-long winter road extending from Temiscamie, Québec and via air from a float-plane base located at Temsicamie or from the town of Chibougamau, approximately 330 kilometres to the southwest. Chibougamau Diamond Drilling was awarded the drill contract and has been utilizing the winter road to mobilize the drill equipment and fuel to the mine property. Warm weather has delayed transportation of materials over this road. Future access to the project is expected to improve dramatically as the province of Québec has committed $130-million in capital funding to build a permanent road that will service four mines and a new park in the area.

Don Robinson, President and CEO of Eastmain stated, "This will be the first drill program on the Eastmain Gold Deposit since the 1990's. There is excellent potential for expanding both the high grade gold deposit as well as finding additional resources elsewhere on the property. Government construction of a permanent road, expected to be completed within the next three years, will significantly enhance the economics of the Eastmain Gold deposit."

Dr. Donald J. Robinson P.Geo, is the Qualified Person for the information contained in this press release and is a Qualified Person within the meaning of National Instrument 43-101.

About Eastmain Resources Inc. (TSX:ER)

Eastmain is a Canadian gold exploration company with 100% interest in the Eau Claire and Eastmain gold deposits. The Corporation has $20 Million in working capital and holds an interest in 12 projects within the James Bay District, including the Éléonore South property. Eastmain has allocated a budget of $7.5 million for gold exploration in Québec for 2010.

The statements made in this Press Release may contain forward-looking statements that may involve a number of risks. Actual events or results could differ materially from the Company's expectations and projections. 

Contact Information

  • Eastmain Resources Inc.
    Dr. Donald J. Robinson
    (519) 940-4870
    (519) 940-4871 (FAX)
    Eastmain Resources Inc.
    Catherine Butella
    Exploration Manager
    (519) 940-4870
    (519) 940-4871 (FAX)