Eastmain Resources Inc.

Eastmain Resources Inc.

April 25, 2012 16:05 ET

Eastmain Mine Project

A Zone - 5.78 g/t Au over 6.5 m, B Zone - 9.10 g/t Au over 3.0 m, C Zone - 5.71 g/t Au over 1.5 m

TORONTO, ONTARIO--(Marketwire - April 25, 2012) - Eastmain Mines Inc., a wholly-owned subsidiary of Eastmain Resources Inc. (TSX:ER), announces drill results from a 28-hole program totaling 13,062 metres completed in 2011 on the Eastmain Mine property, located in the James Bay region, Québec. Our principal objective is to expand the Eastmain Mine Gold Deposit beyond its historical resources of 255,750 ounces of gold4). The high-grade, gold-rich A, B and C Zones, which comprise the current deposit, have been traced to a vertical depth of about 500 metres below surface (see website for 3D Leapfrog Deposit Model).

Drill hole EM11-52 intersected an intercept within the A Zone mine series, which assayed 5.78 grams per tonne (gpt) gold across 6.5 metres at a depth of 443.0 metres. The A Zone forms a shallow dipping plane with sub-vertical plunging shoots extending approximately 700 metres down-dip from surface. Holes EM11-47 through EM11-58 also intersected wide intervals of low-grade mineralization within A Zone mine series rocks. The A Zone is open at depth.

B Zone mine series rocks also form a shallow dipping package of sub-vertically plunging shoots extending about 700 metres down-dip from surface. Drill holes EM11-65 and 66 intersected the B Zone. Results include 9.10 gpt gold over 3.0 metres at a depth of 435.5 metres and 2.58 gpt gold over 5.50 metres at a depth of 451.0 metres respectively. Several trends evident within the B Zone package will be drill tested at depth in future programs.

Re-assaying of two B Zone intervals drilled in 2010 containing visible gold in holes EM10-28 and EM10-38 respectively, resulted in an increase in the average grade of both intervals, including 13.24 gpt gold across 9.5 metres and 16.6 gpt gold over 5.5 metres.

Holes EM11-68 to 74 were collared to test the lateral and vertical limits of the C Zone mine series. Though these holes intersected mine series rocks with low-grade mineralization, no significant grade thicknesses were returned from within the C-Zone package. However, drill holes EM11-69 and 74 intersected a new zone of gold mineralization in the hanging wall above the C Zone horizon, which includes 5.77 grams gpt over a half-metre interval at a depth of 230 metres and 5.71 gpt gold over 1.5 metres at a depth of 352.5 metres respectively.

The mine trend extends for several kilometres in both directions from the A,B,C Zones. Several high-priority drill targets have been identified along this 10-kilometre-long mine trend, to the northwest and the southeast of the current deposit. A $1M-exploration program budgeted for the Eastmain Mine Project in 2012 will include additional surface work to prioritize existing targets for drill testing and identify new prospective targets within the mine horizon, and a minimum of 3,000 metres of drilling.

The project facilities are currently being refurbished and upgraded as a result of third-party camp rentals by sub-contractors hired to construct Route 167 North. Permanent road access to the Eastmain Mine property, courtesy of Quebec's Plan Nord infrastructure development program, is anticipated by 2013.

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. Chemical analysis for the drilling was completed by ALS CHEMEX Laboratories using a 50-gram split for multi-element and gold ICP analysis. Samples grading over 500 ppb are analyzed by fire assay techniques with and atomic absorption finish. Samples greater than 10 grams are then fire-assayed with a gravimetric finish. Internal standards provided by an independent company and blank samples were inserted for quality control purposes. Assay samples are taken from NQ core, sawed in half along the core axis; one half is sent to ALS Laboratories and the other half retained for future reference.

About Eastmain Resources Inc. (TSX:ER)

Eastmain is a Canadian gold exploration company with 100% interest in the Eau Claire and Eastmain gold deposits which together contain 632,000 ounces of gold in Measured & Indicated resources1),255,750 ounces gold in Historical Measured and Indicated resources4) plus 1,020,000 ounces of gold in Inferred resources2). The Corporation has $17.4 Million in its treasury and holds a pipeline of exploration projects within the James Bay District, including the Éléonore South property, which lies immediately south of Goldcorp's multi-million-ounce Éléonore property. Eastmain has allocated $10 million for exploration of its key gold projects in Québec for 2012. Work will include 50,000 metres of drilling.

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 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.

1) Measured & Indicated Resources (which may potentially be extracted by both open and underground mining methods) of 3,354,000 tonnes containing 632,000 ounces gold @5.86 g/t gold uncapped - Eau Claire NI43-101 NR Apr 26, 2011
2) Inferred Resources (which may potentially be extracted by both open and underground mining methods) of 5,322,000 tonnes containing 1,020,000 ounces gold @ 6.06 g/t gold uncapped - Eau Claire NI43-101 NR Apr 26, 2011
3) Near-surface Open Pit Measured & Indicated Resources for Eau Claire (only that portion of the Eau Claire deposit that could potentially be mined by open-pit methods): 2,729,000 tonnes containing 502,000 ounces @5.72 g/t gold - Eau Claire NI43-101 NR Apr 26, 2011; NR May 19, 2011
4) 255,750 ounces gold - Measured & Indicated Historical Non-NI43-101 Compliant Resources at Eastmain Mine (Campbell 2004 AR) and should not be relied upon. A qualified person from Eastmain has not done sufficient work to classify the historical estimate as current mineral resources, and therefore the historical estimate should not be treated as current mineral resources.
Table 1. Eastmain Mine Project Assay Highlights
Hole ID Zone From To Length Au Ag Cu Section
metres g/t g/t %
EM11-52 A Zone HW 424.00 426.00 2.00 2.54 3.97 0.38 1300E
A Zone MS 442.50 449.00 6.50 5.78 4.24 0.27
EM11-56 A Zone MS 477.50 479.00 1.50 0.23 29.30 1.40 1422E
EM11-58 A Zone HW 390.50 391.00 0.50 9.53 0.41 0.01 1457E
EM11-60 B Zone MS 385.50 386.00 0.50 9.05 5.28 0.11 1810E
EM11-61 B Zone HW 350.00 351.00 1.00 6.66 1.37 0.01 1850E
354.00 354.50 0.50 6.43 1.53 0.00
EM11-64 B Zone HW 200.00 200.50 0.50 7.11 0.29 - 2110E
EM11-65 B Zone MS 435.50 438.50 3.00 9.10 3.93 0.22 2172E
EM11-66 B Zone MS 451.00 456.50 5.50 2.58 4.23 0.12 2172E
EM11-67 B Zone HW 84.00 85.50 1.50 8.35 0.40 0.09 2181E
EM11-69 C Zone HW 230.00 230.50 0.50 5.77 1.33 0.00 2802E
EM11-74 C Zone HW 352.50 354.00 1.50 5.71 1.47 0.08 3110E
EM10-28* B Zone MS 217.50 227.00 9.50 13.24 15.68 0.19 1735E
EM10-38* B Zone MS 33.50 39.00 5.50 16.60 13.13 0.37 1856E
Notes: Drill core samples from holes EM10-28 and EM10-38 were reassayed using a Metallic Screen techniques resulting in an incremental increase in the average gold content.
HW Mineralized horizon in the hangingwall (above) the mine series
MS Mine series horizon.

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)