Eastmain Resources Inc.

Eastmain Resources Inc.

October 05, 2016 06:30 ET

Eastmain Mine Trenching Returns Channel Sample Grades Up to 25.97 g/t Gold Over 2.2 m, Including 55.70 g/t Au Over 0.7 m

TORONTO, ONTARIO--(Marketwired - Oct. 5, 2016) - Eastmain Resources Inc. (TSX:ER) ("Eastmain" or the "Company") is pleased to announce results from its trenching on its Eastmain Mine Project and its prospecting program on the Ruby Hill West Property, located in James Bay, Quebec.

Claude Lemasson, President and CEO of Eastmain, "We are encouraged with the trenching results to date. Based on the Eastmain Mine historical high grade production of over 10 g/t Au, we are pleased to see these trenching results within a few km of the historic mine, and on the mine trend. Our 7,500 m drill program is well-underway, testing a number of near-surface targets, including the recently identified mineralization, as well as near the historic resource."

Eastmain Mine Project Trenching

An initial 1,376 m2 of a proposed 3,700 m2 trenching program on Eastmain Mine is complete on the Suzanna and Hillhouse zones (see FIGURE 1: http://media3.marketwire.com/docs/1071578_Fig1.pdf), located NW approximately 2.8 km and 1.5 km, respectively from the historic Eastmain mine. Gold values obtained from channel sampling in the three excavated trenches ranged from less than 0.25 g/t Au over 0.5 m to 25.97 g/t Au over 2.2 m (including 55.70 g/t Au over 0.7 m). Mapping is still in progress. Trenching on the Michel and Julien Zones, located NW approximately 3.5 km and 2.6 km, respectively, from the historic Eastmain mine has resumed. Highlights of the trenching program are detailed below.

Table 1: Channel samples results

Channel Samples Including
Trench ID Channel ID Assay
(g/t Au)
(g/t Au)
EM16-S1 S1-1 2.35 3.0 8.96 0.5 Suzanna Zone
S1-2 5.33 1.5 13.30 0.5
S1-5 1.19 1.0 1.96 0.5
EM16-H2 H2-5 4.63 1.0 5.78 0.5 Hillhouse Zone
H2-6 25.97 2.2 55.70 0.7
H2-7 2.14 1.5 3.11 0.5
EM16-H3 H3-2 6.79 1.0 9.49 0.5 Hillhouse Zone
H3-3 6.55 1.0 9.78 g/t Au; 1.14% Cu 0.8
H3-7 3.29 1.0 7.63 g/t Au; 1.32% Cu 0.5

Gold values from the Suzanna Zone trench (EM16-S1) are associated with a mineralized felsic tuff located near the contact with a mafic volcanic unit. The mineralization consists mostly of disseminated pyrite, pyrrhotite and chalcopyrite.

Hillhouse Zone trenches EM16-H2 and EM16-H3 returned gold values which are spatially aligned along a minor shear and associated with a massive sulfide layer hosted in mineralized chert. Pyrrhotite and chalcopyrite are the main sulphides present. The assemblage is very similar the Eastmain Mine "Mine Package" located in the historic mine. The sulphide-chert horizon in EM16-H2 an EM16-H3 is located at the contact between pillowed basalt and a volcanic breccia.

Six grab samples collected from the massive sulfide lens located in the EM16-H2 trench returned gold values ranging between 8.49 g/t Au and 77.50 g/t Au. Values are displayed in Table 2.

Table 2: Grab samples results EM16-H2 trench

Sample # Gold assay (g/t) Silver Assay (g/t) Copper Assay (%)
S894387 12.9 2.9 0.15
S894388 15.3 6.9 0.09
S894389 43.3 13.1 0.27
S894390 77.5 16.9 0.59
S894391 8.5 3.2 0.05
S894392 46.1 41.4 7.39

Ruby Hill West Prospecting

Prospecting completed by the Eastmain team on Ruby Hill West (see FIGURE 2: http://media3.marketwire.com/docs/1071578_Fig2.png) discovered a new surface gold showing located 2 km WSW of the historic EXKO showing (3.55 g/t Au; 17.0 g/t Ag; 0.12% Cu) discovered by the Eastmain Syndicate in 1989, and is believed to be a part of the same geological package. The new discovery includes four values of 18.2 g/t Au, 1.68 g/t Au, 0.28 g/t Au and 0.18 g/t Au. Two other gold samples were found approximately 200 m ENE with grades of 3.71 g/t Au and 2.59 g/t Au. These grab samples are along strike of the new gold showing and indicate a potential lateral continuity of the new discovery, with EXKO. The gold mineralization is associated with arsenopyrite and is hosted in a silicified mafic volcanic layer located immediately north of an ultramafic sequence. The mafic-ultramafic lithology trends east-northeast along the central axis of the Ruby Hill West property.

Also during the prospecting program, grab samples were taken from a spodumene-bearing pegmatite dyke exposed over 60 m by 25 m, located approximately 40 km WSW of the Eastmain Mine deposit. Four samples returned values ranging from 0.50% to 2.19% Li with very anomalous Tantalum, Cesium and Rubidium values. This spodumene bearing pegmatite, present in the western part of the Ruby Hill West claim block, is also located in contact with ultramafic rocks suggesting that the dyke may be emplaced along a major fault structure often associated with the presence of ultramafic sequences.

The 2016 Prospecting campaign was carried under the supervision of the Eastmain team, as a field phase of a CARDS (Computer Aided Resources Detection System) study completed earlier this year by Diagnos Inc. Field work by Diagnos was supplemented with additional prospecting by Eastmain geologists.

Eastmain conducts a quality control program for all of its exploration work, to ensure best practices in the industry from sample shipment and preparation to data collection and analyses. Chemical analysis was completed by ALS CHEMEX Laboratories using a 50-gram split with ICP, AA and gravimetric techniques for gold and 48 element four acid ICP-MS for other elements. Internal standards provided by an independent company are inserted for quality control purposes.

Field supervision of exploration at the Ruby Hill and Eastmain Mine projects is provided by Eastmain Project Geologist David Frappier-Rivard P. Geo. This press release has been 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.

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