Eastmain Resources Inc.
TSX : ER

Eastmain Resources Inc.

January 19, 2017 06:30 ET

Eastmain Confirms a Discovery at the Julien Target at the Eastmain Mine Project

TORONTO, ONTARIO--(Marketwired - Jan. 19, 2017) - Eastmain Resources Inc. ("Eastmain" or the "Company") (TSX:ER) announces results from 17 drill holes (5,313 m) at its Eastmain Mine Project, located in James Bay, Quebec (See FIGURES 1, 2 and 3). A summary of significant assay results and drilling data are presented in Tables 1 and 2 below.

The 2016 drilling program including 7,450 m of drilling on the Eastmain Mine Project and 1,100 m on the Ruby Hill Claim blocks is now complete.

HIGHLIGHTS

New Julien Target drilling demonstrates continuity of discovered mineralization:
- EM16-92: 24.8 g/t Au, 25.7 g/t Ag and 1.1% Cu over 9.3 m,
including 43.1 g/t Au, 50.6 g/t Ag and 2.0% Cu over 4.3 m,
also includes 195 g/t Au, 84.0 g/t Ag and 2.4% Cu over 0.6 m
- EM16-93: 10.6 g/t Au, 20.1 g/t Ag and 1.2% Cu over 15.9 m,
including 20.4 g/t Au, 36.8 g/t Ag and 2.3% Cu over 7.6 m
also includes 62.1 g/t Au, 156 g/t Ag and 14.2% Cu over 0.6 m
- EM16-94: 7.8 g/t Au, 13.6 g/t Ag and 0.5% Cu over 10.0 m
including 32.7 g/t Au, 14.5 g/t Ag and 1.0% Cu over 1.0 m
and 5.7 g/t Au and 1.3 g/t Ag over 8.5 m
including 41.8 g/t Au and 3.8 g/t Ag over 0.6 m
- EM16-95: 1.7 g/t Au, 2.6 g/t Ag and 0.1% Cu over 13.0 m,
including 18.0 g/t Au, 24.1 g/t Ag and 1.1% Cu over 1.0 m

Claude Lemasson, Eastmain President and CEO commented: "We are enthused by the success of the Eastmain Mine 2016 exploration program. These new targets provide us with the confidence of continued mineralization along the mine trend. The shallow high-grade Julien discovery which sits 300 m off of the anticipated mine trend is of particular interest to us. We expect our 2017 Eastmain Mine exploration programs to expand on this year's successes."

DRILLING PROGRAM

The Hillhouse, Julien and Suzanna Targets are located 1.5 km, 2.75 km, and 3 km northwest, respectively, of the Eastmain Mine. The NW and SE Mine Trend targets are the interpreted strike extensions of the mineralized horizon which hosts the Eastmain mine (See FIGURE 1). Assay results from hole EM16-96 are pending on the Julien Target. A follow-up IP survey is underway to assist in developing the 2017 exploration of the Julien and Suzanna targets.

Julien Target

Four drill holes, EM16-92 to EM16-95, intersected gold-copper-silver mineralization, locally with visible gold, within 70 m from surface at the Julien Target (FIGURES 2 and 3). The new target is located 300 m NE of the Mine Trend. These drill holes confirm a new shallow zone of mineralization, supported by past outcrop sampling and trenching, in addition to the previously reported drill hole EM16-76 which returned 42.4 g/t Au, 30.2 g/t Ag and 0.53% Cu over 10.5 m, at 15 m vertical depth (see press release, November 14, 2016).

EM16-92 (-50°) and EM16-93 (-70°) are collared at the same location, 27 m northeast of, and undercutting, EM16-76. Both holes intercepted mineralized rhyolite hosting a quartz vein with visible gold at a vertical depth of 25 m and 35 m respectively.

EM16-94 and EM16-95 are also collared from a single location, 67 m northeast of, and undercutting, holes EM16-76, -92, and -93. Both holes intercepted a mineralized quartz vein with visible gold within a vertical depth of 63 m. The first interval in EM16-94 is mainly hosted in a mineralized quartz vein injected at the contact between mafic and felsic volcanics and the second one is located at a felsic-mafic contact. EM16-95 intersected a gold bearing quartz vein, hosted in altered basalt.

Hillhouse Target

EM16-79 tested the extension of a mineralized massive sulphide lens 40 m to the east trench EM16-H2 where the mineralized lens returned 26.0 g/t Au over 2.2 m (see press release, October 5, 2016).

EM16-80 is collared 27 m northeast of, and undercutting, EM16-78 which returned 8.47 g/t over 2.0 m (see press release, November 14, 2016). Like in EM16-78, visible gold was observed in a mineralized quartz vein injected in a chert horizon associated with a 10 cm massive sulfide layer. The mineralized lens in EM16-80 is crosscut by a late porphyritic mafic dyke, reducing its width.

Suzanna Target

Hole EM16-81 intersected anomalous values in an intensely altered felsic and mafic volcanic sequence 105 m north of the Suzanna trench EM16-S1, which returned 5.33 g/t Au over 1.5 m, including 13.3 g/t Au over 0.5 m (see press release, October 5, 2016).

Eastmain Mine

Holes EM16-87 to EM16-90 were drilled in the vicinity of the Eastmain Mine deposit to test for possible repetitions of the Eastmain Mine stratigraphy located Southwest and parallel to the deposit. EM16-88 intercepted two mineralized intervals returning 0.56 g/t Au, 5.2 g/t Ag and 0.43% Cu over 0.85 m and 0.52 g/t Au, 8.26 g/t Ag and 1.20% Cu over 0.5 m however no ultramafic sequences were intersected. EM16-87 did not reach its target depth, intercepting an underground mine working.

EM16-89 and EM16-90 tested the continuity of the historical deposit (B-Zone) at depth. Both holes cut mineralized intervals. Both intervals were from the typical "Mine Trend" assemblage composed of altered felsic and mafic volcanics injected with quartz/silica mineralization located in contact with an ultramafic sequence. Further interpretation is required to resolve to location of these intercepts with the projection of the B Zone.

NW Mine Trend

Limited previous work has been completed on the NW Mine Trend. Following up on a moderate geophysical electro-magnetic anomaly, EM16-91 returned weakly anomalous values 550 m south of the Hillhouse Hill target, half way between Hillhouse Hill and the Eastmain Mine deposit.

SE Mine Trend

Drilling in the SE Mine trend provided information related to the extension of Eastmain Mine stratigraphy (altered felsic to mafic volcanics in contact with ultramafic rocks) in an area of limited historic exploration. Holes EM16-82 to EM16-86 tested the interpreted Southeast extension of the Mine Package. Hole EM16-83 returned the best gold intercept in this area, hosted in a Mine Trend-type sequence.

INDUCED POLARIZATION (IP) SURVEY

Linecutting is starting on the Eastmain Mine property and a 48 line-km OreVision induced polarization geophysical survey is expected to be complete by the end of February. The survey is expected to focus on the new discovery at the Julien target. Core obtained from hole EM16-76 at the Julien discovery was submitted for geophysical bench study to Abitibi Géophysique Inc. in December 2016. This study reported characteristics suitable for detection with a larger ground survey. Wide mineralized zones, crosscut by a quartz-feldspar porphyry dyke were intercepted in both holes EM16-93 and EM16-94. This mineralized zone, intersected between 20 m and 70 m depth, represents a substantial gold mineralization footprint for the survey. The survey also covers the Suzanna target and will assist in identifying drill targets later in 2017.

Table 1: Eastmain Mine: Summary of Significant Drilling Results (January 19, 2017)

Target Drill
Hole
From To Interval Vertical
Depth
Gold
Assay
Silver
Assay
Copper
Assay
(m) (m) (m)(1) (m)(3) g/t Au(2) g/t Ag(2) % Cu(2)
Hillhouse Hill EM16-79 84.3 84.8 0.5 64.7 2.81 3.27 0.02
93.0 94.5 1.5 71.8 0.51 1.84 0.22
Hillhouse Hill EM16-80 29.9 30.4 0.5 21.2 1.51 1.49 0.21
Suzanna EM16-81 63.5 68.0 4.5 50.4 0.60 1.39 0.02
incl. 63.5 64.0 0.5 3.70 5.42 0.03
Suzanna EM16-82 NSV
SE Mine Trend EM16-83 167.75 168.35 0.5 118.1 4.53 0.99 0.01
SE Mine Trend EM16-84 150.0 151.0 1.0 130.3 0.61 - -
SE Mine Trend EM16-85 NSV
SE Mine Trend EM16-86 NSV
Eastmain Mine EM16-87 135.35 136.0 0.65 117.5 2.74 1.58 0.03
Eastmain Mine EM16-88 361.1 361.95 0.85 303.2 0.56 5.2 0.43
462.1 462.6 0.5 383.3 0.52 8.26 1.20
Eastmain Mine EM16-89 516.95 521.8 4.85 508.0 1.19 1.93 0.11
Eastmain Mine EM16-90 406.0 407.0 1.0 396.0 3.05 6.52 0.26
NE Mine Trend EM16-91 NSV
Julien EM16-92 24.8 34.1 9.3 22.6 21.1 25.7 1.05
Incl. 29.8 34.1 4.3 43.1 50.6 2.04
Incl. 33.5 34.1 0.6 195 84.0 2.35
399.0 399.5 0.5 305.8 1.33 - -
475.9 477.4 1.5 365.1 0.73 0.63 0.04
Julien EM16-93 24.6 40.5 15.9 30.6 10.6 20.1 1.24
incl. 31.9 39.5 7.6 20.4 36.8 2.29
incl. 34.05 34.6 0.55 62.1 156 1
53.6 62.3 8.7 54.5 0.72 1.36 0.09
incl. 54.1 55.1 1.0 2.26 0.79 0.04
504.5 513.0 8.5 478.1 0.28 0.89 0.02
incl. 512.5 513.0 0.5 1.13 0.28 -
Julien EM16-94 41.3 46.1 4.8 33.5 0.42 1.13 0.13
incl. 43.8 44.3 0.5 1.50 1.17 0.11
60.0 70.0 10.0 49.8 7.96 13.6 0.53
incl. 62.2 68.9 6.7 11.6 20.0 0.77
incl. 62.2 63.2 1.0 32.7 14.5 1.04
incl. 65.8 67.3 1.5 14.4 33.0 1.33
EM16-94 80.0 88.5 8.5 64.3 5.67 1.33 0.09
incl. 80.5 81.0 0.5 38.3 0.96 0.13
incl. 82.9 83.5 0.6 41.8 3.87 0.03
101.5 102.0 0.5 77.9 1.58 0.28 0.04
EM16-95 60.5 73.5 13.0 63.0 1.69 2.62 0.13
incl. 71.3 72.3 1.0 18.0 24.1 1.05
94.7 95.2 0.5 89.2 2.34 1.48 0.12
Julien EM16-96 Results Pending
(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 approx. 80% of downhole widths.
(2) For known mineralized zones, intervals are based on geological observations. Assays presented are not capped.
(3) Vertical depth is measured from the surface to the mid-point of the reported interval.

Table 2: Hole Location Information

Target Drill
Hole
UTM Coordinates Zone 18 Azimuth Inclination Total
Length
Number East North Elev. Deg. Deg. (m)
Hillhouse Hill EM16-79 697917 5799628 504 250 -50 150
Hillhouse Hill EM16-80 697949 5799584 491 215 -45 117
Suzanna EM16-81 696657 5800248 495 209 -50 303
SE Mine Trend EM16-82 702871 5797131 494 187 -45 225
SE Mine Trend EM16-83 701968 5796946 494 210 -45 174
SE Mine Trend EM16-84 701969 5796947 494 210 -60 171
SE Mine Trend EM16-85 700642 5796905 515 210 -45 273
SE Mine Trend EM16-86 701211 5796583 500 209 -45 204
Eastmain Mine EM16-87 698671 5798470 495 215 -60 135
Eastmain Mine EM16-88 698666 5798422 495 215 -62 756
Eastmain Mine EM16-89 699691 5798388 479 215 -80 594
Eastmain Mine EM16-90 699550 5798299 480 215 -80 525
NW Mine Trend EM16-91 698000 5798987 495 212 -50 288
Julien EM16-92 697322 5800617 491 228 -50 519
Julien EM16-93 697322 5800618 491 228 -70 519
Julien EM16-94 697351 5800645 496 228 -50 165
Julien EM16-95 697352 5800645 496 228 -70 195
Julien EM16-96 697345 5800691 497 228 -50 519

About Eastmain Mine Project

The Eastmain Mine is a past-producing gold-copper mine, located in the south-eastern branch of the Upper Eastmain River Greenstone Belt. It is located within an extensive volcanic formation extending across the property for approximately 10 km on a northwest to southeast trend. The Eastmain Mine, a gold-silver-copper, sulphide-rich deposit, consists of three known gold-rich zones, the, "A", "B" and "C" Zones. In 1995, MSV Resources mined 100,000 t of ore, at a grade of 10.58 g/t Au, and shipped it to Chibougamau for processing.

The design of the Eastmain Resources' drilling programs, Quality Assurance/Quality Control and interpretation of results is under the control of Eastmain's geological staff, including qualified persons employing a strict QA/QC program consistent with NI 43-101 and industry best practices. The Eastmain Mine Project is supervised by the Project Geologist, David Frappier-Rivard, P. Geo.

Drill core is logged and split with half-core samples packaged and delivered to ALS Minerals laboratory. Samples are dried and subsequently crushed to 70% passing a 2 mm mesh screen. A 1,000 gram subsample is pulverized to a nominal 85% passing 75 micron mesh screen. The remaining crushed sample (reject) and pulverized sample (pulp) are retained for further analysis and quality control. All samples are analysed by Fire Assay with an Atomic Absorption (AA) finish using a 50 gram aliquot of pulverized material. Assays exceeding 5 g/t Au are re‐assayed by Fire Assay with a Gravimetric Finish. Eastmain regularly inserts 3rd party reference control samples and blank samples in the sample stream to monitor assay performance and performs duplicate sampling at a second certified laboratory. For 2016, approximately 6% of samples submitted are part of the Company's laboratory sample control protocols.

This press release was compiled 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 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. The Company also owns the historic Eastmain Mine property as well as 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.

Contact Information