TORONTO, ONTARIO--(Marketwired - Sept. 21, 2016) - Eastmain Resources Inc. (TSX:ER) ("Eastmain" or the "Company") is pleased to announce the start of a 5,000 m drilling program at the Éléonore South Joint Venture property, in James Bay, Québec. The drill program is a two-phase program, with 2,500 m currently underway. This first phase of drilling includes ten drill holes testing key targets along a 3 km long, highly prospective corridor. This corridor encompasses the Moni prospect and also lies on strike with the adjacent Cheechoo discovery made by Sirios Resources Inc. earlier this year (see FIGURES 1 and 2). The second phase of the program will be informed by results from the first phase.
The drill targets are defined by a combination of encouraging prospecting results, including high-grade grab samples of gold mineralization (see press release dated, August 29, 2016), and elevated gold-arsenic anomalies in soils. Recent geophysical reprocessing of magnetic data provides additional support for target definition.
The first phase objectives are to assess:
- the potential of the high-grade Moni Prospect, which recently returned grab samples ranging from 11.6 g/t Au to 142.0 g/t Au, and its potential strike extension over a 700 m distance with four drill holes;
- the possible direct strike-extension of the Cheechoo discovery onto the Éléonore South Property, over a span of 600 m along a tonalite-meta-sediment contact using four drill holes; and,
- the interpreted contact between a linear tonalitic intrusion and strongly magnetic lithology with two drill holes.
The first two target areas are part of a much larger prospective corridor covering an area at least 3 to 4 km long by 500 m wide. This corridor may correspond to a hydrothermally altered system emplaced along the margins of the tonalite intrusion, close to, or at the contact with surrounding meta-sediments.
The Éléonore South Property is a three-way Joint Venture between Eastmain Resources (36.7%), Azimut Exploration Inc. (TSX VENTURE:AZM) (26.6%), and Les Mines Opinaca Ltée ("Opinaca") (36.7%), a wholly-owned subsidiary of Goldcorp Inc. (TSX:G)(NYSE:GG). Azimut is the 2016 Manager.
This press release and information provided by the manager of the Éléonore South Joint Venture was reviewed and approved by William McGuinty, P. Geo., Eastmain's VP Exploration and Qualified Person under National Instrument 43-101.
About Eastmain Resources Inc. (TSX:ER)
Eastmain is a Canadian exploration company with 100% interest in the Eau Claire and Eastmain gold deposits, both of which are located within the James Bay District of Québec. Clearwater, the Company's core asset and host of the Eau Claire deposit, has superior infrastructure within a favourable jurisdiction and is royalty free. 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. 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 details and timing of exploration programs of Eastmain currently proposed for 2016, the impact of general economic conditions, industry conditions, dependence upon regulatory approvals and the availability of financing. 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.