Eastmain Resources Inc.
TSX : ER

Eastmain Resources Inc.

January 04, 2017 06:30 ET

Eastmain Resources Drilling Continues to Intersect High-Grade Gold

TORONTO, ONTARIO--(Marketwired - Jan. 4, 2017) - Eastmain Resources Inc. ("Eastmain" or the "Company") (TSX:ER) is pleased to announce additional assay results from its ongoing, 63,300 m drill program at the Clearwater Project, which includes the Eau Claire deposit, in James Bay, Quebec (see FIGURES 1-4).

These results are from 18 holes (5,285 m) of drilling for a total of 50 holes (17,516 m) to date, from three drill rigs. A fourth rig is now commissioned to accelerate the program. A summary of significant assay results and drilling data is presented in Tables 1, 2 and 3 below.

Highlights include:

  • Eau Claire infill drilling highlights:
    • ER16-608 - 67.7 g/t Au over 2.4 m (vertical depth - 216 m)
      and 6.17 g/t Au over 5.3 m
    • ER16-617 - 15.8 g/t Au over 3.5 m (vertical depth - 171 m)
      including 66.6 g/t Au over 0.8 m
    • ER16-620 - 6.74 g/t Au over 6.6 m (vertical depth - 118 m)
      including 31.3 g/t over 1.0 m
  • Snake Lake drilling highlights:
    • Two types of gold mineralization identified
    • ER16-604 - 11.3 g/t Au over 1.2 m (vertical depth - 32.0 m)
    • ER16-633 - 5.78 g/t over 2.0 m (vertical depth - 22.0 m)

Claude Lemasson, Eastmain President and CEO commented, "Drilling continues to return excellent results from our open pit and shallow underground definition program on the Eau Claire deposit. The infill drilling results are confirming our expectations within the current resource while tightening the drill spacing to enhance vein continuity. A fourth drill is now arriving onsite and we remain on track to deliver an updated mineral resource estimate in 2Q2017."

DRILLING RESULTS - EAU CLAIRE

Infill drilling reported at the Eau Claire deposit in this news release includes 11 drill holes (3,780 m) to a maximum vertical depth of 270 m. A total of 34 drill holes (10,905 m) are now complete. Drilling to date is successfully developing vein continuity within the mineral resource and improving the known grade thickness within the eastern 450 West zone. (See Figures 1,3,4) Mineralization remains open at depth and to the east.

Drilling continues to intersect mineralization within a potential open pit and shallow underground mining envelope. The current program is tightening the nominal drill spacing to approximately 25 m, in preparation for the upcoming mineral resource estimate update which will provide the foundation for a Preliminary Economic Assessment scheduled for completion in late 2017. See press releases dated October 24, 2016 and December 1, 2016 for previous drilling results.

DRILLING RESULTS - SNAKE LAKE

The second set of drilling results from the Snake Lake target includes 7 exploration drill holes (1,505 m) for a total of 16 holes (3,608 m) now complete at the Snake Lake Target. Drilling is testing a shallow 700 m long by 200 m wide corridor of gold mineralization located 1.8 km east of the Eau Claire Deposit along the Clearwater Deformation Zone. A gold mineralized sulphide rich zone of altered basalt flows and interlayered tuffaceous rocks has been identified in the central portion of the corridor. Quartz-tourmaline gold mineralization similar to the Eau Claire deposit is also identified in the corridor, related locally to shearing. Eastmain will be reviewing these results with a view to further testing of both types of mineralization. (See Figure 2)

GOLD MINERALIZATION - EAU CLAIRE

Gold mineralization at the Eau Claire gold deposit is generally located within structurally-controlled, high-grade en-echelon quartz-tourmaline veins and adjacent altered rocks. The vein system is predominantly hosted within a thick sequence of massive and pillowed mafic volcanic flows, interbedded with narrow intervals of volcaniclastic sedimentary rocks. Both flows and sediments have been intruded by multiple phases of felsic and porphyry dykes. Host rocks have been folded and deformed (sheared) through several deformation events. The gold bearing veins may occur as thin fracture fill with tourmaline and develop along an easterly strike and a southerly dip (450W zone) into thick quartz-tourmaline veins with zoned tourmaline+/-actinolite+/-biotite+/-carbonate alteration halos which can measure up to several metres in thickness.

GOLD MINERALIZATION - SNAKE LAKE

Gold mineralization at the Snake Lake occurrence is similar to the Eau Claire deposit. Quartz tourmaline veins are hosted within a thick sequence of basalt flows, tuffs and interbedded metasedimentary rocks which have been intruded by felsic dykes. As at Eau Claire, the entire sequence has been heavily deformed and sheared resulting in development of a deformation zone with strong and extensive foliation and local shearing. Significant zones of sulphide mineralization of up to 15% (pyrite, pyrrhotite, +/- arsenopyrite +/- chalcopyrite) are also reporting gold mineralization within the deformation zone.

Table 1: Eau Claire: Summary of Drilling Results

Type Drill Hole From To Interval Gold
Assay
Vertical
Depth
(3)
Interpreted
Zone
m m m(1) g/t Au(2) m
Infill ER16-597 197.0 197.7 0.7 7.47 171.0 450W
238.9 240.0 1.1 3.56 207.0
262.0 267.0 5.0 5.06 229.0
Incl. 263.0 264.5 1.5 11.1
272.3 276.5 4.2 2.73 237.0
Incl. 274.5 275.0 0.5 16.5
300.0 300.6 0.6 21.8 259.0
Infill ER16-608 190.6 193.6 3.0 6.36 164.0 450W
Incl. 192.1 192.6 0.5 26.4
197.1 197.6 0.5 2.04 169.0
223.1 224.2 1.1 9.12 190.0
231.2 236.5 5.3 6.17 199.0
Incl. 231.2 231.7 0.5 15.7
Incl. 233.0 233.5 0.5 20.9
243.6 246.2 2.6 6.31 208.0
Incl. 245.6 246.2 0.6 15.9
252.8 255.2 2.4 67.7 216.0
Incl. 252.8 254.7 1.9 85.1
264.4 265.1 0.7 27.0 225.0
270.8 273.1 2.3 3.90 231.0
Infill ER16-612 92.0 94.4 2.4 7.58 80.0 450W
Incl. 92.0 93.0 1.0 16.6
197.8 198.3 0.5 5.40 170.0
205.2 205.8 0.6 4.84 177.0
209.5 210.0 0.5 15.7 180.0
243.5 244.2 0.7 9.84 210.0
249.0 249.5 0.5 7.62 215.0
259.0 260.0 1.0 27.2 223.0
265.0 265.5 0.5 14.7 226.0
Infill ER16-617 112.9 117.0 4.1 1.12 97.0 450W
202.1 205.6 3.5 15.8 171.0
Incl. 204.8 205.6 0.8 66.6
211.2 211.7 0.5 8.90 178.0
223.2 224.2 1.0 8.50 189.0
260.8 261.8 1.0 2.70 220.0
Infill ER16-619 83.5 84.0 0.5 3.97 70.0 450W
183.7 184.2 0.5 16.3 153.0
192.2 193.5 1.3 2.54 160.0
263.5 264.0 0.5 28.5 219.0
Infill ER16-620 127.0 128.0 1.0 2.40 103.0 450W
229.2 235.8 6.6 6.74 188.0
Incl. 229.2 230.2 1.0 31.3
Incl. 234.8 235.8 1.0 10.0
Infill ER16-624 87.0 87.5 0.5 3.34 78.0 450W
102.8 103.4 0.6 3.58 92.0
114.0 116.5 2.5 1.91 103.0
247.0 247.5 0.5 4.46 219.0
257.2 257.9 0.7 25.0 229.0
294.3 294.9 0.6 16.0 261.0
Infill ER16-625 200.0 201.0 1.0 4.11 162.0 450W
260.9 262.9 2.0 4.43 211.0
Incl. 261.4 261.9 0.5 11.0
291.7 305.0 13.3 2.17 239.0
Incl. 291.7 294.8 3.1 4.32
304.0 305.0 1.0 7.07 244.0
Infill ER16-628 215.5 216.2 0.7 3.51 166.0 450W
Infill ER16-631 259.0 259.5 0.5 17.7 213.0 450W
263.6 264.2 0.6 2.91 217.0
275.1 275.8 0.7 4.48 227.0
284.6 285.7 1.1 3.74 234.0
289.7 290.6 0.9 2.39 239.0
322.8 323.3 0.5 3.38 266.0
Infill ER16-641 NSV 450W

Table 2: Snake Lake: Summary of Drilling Results

Drill Hole From To Interval Gold
Assay
Vertical
Depth
(3)
Interpreted Zone
m m m(1) g/t Au(2) m
ER16-603 NSV
ER16-604 43.85 45.0 1.15 11.3 32.0 Altered Feldspar porphyry w/ quartz-tourmaline veining
ER16-618 297.1 299.3 2.20 1.91 196.0 Volcanic tuff w/ up to 15% sulphide
ER16-623 NSV
ER16-627 NSV
ER16-633 29.7 31.7 2.00 5.78 22.0 Mafic volcanic w/ 5-10% sulphide
33.9 34.5 0.60 4.69 25.0 Mafic volcanic w/ tourmaline quartz veining+5% sulphide
ER16-637 47.8 48.3 0.50 6.01 33.0 Metasedimentary rock w/ tourmaline quartz veining+20% sulphide + V.G.
53.2 55.2 2.00 3.26 37.0 Metasedimentary rock w/ tourmaline quartz veining+5% sulphide
Incl. 53.7 54.2 0.5 8.14
(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 75%-85% of downhole widths.
(2) For known mineralized zones, intervals are based on geological observations and limited compositing of veins. Assays presented are not capped. Intercepts occur within geological confines of major zones but have not been correlated to individual vein domains at this time.
(3) Vertical depth is measured from the surface to the mid-point of the reported interval.

Table 3: Hole Location Information

Target Drill Hole Azimuth Inclin. UTM Coordinates
Zone 18
Total
Length
Elevation
Number Deg. Deg. Easting Northing (m)
450 ER16-631 355 -55 444,567 5,785,013 417 284
450 ER16-628 355 -50 444,593 5,785,019 201 287
450 ER16-625 355 -57 444,667 5,785,023 375 292
450 ER16-641 355 -56 444,714 5,785,101 390 285
450 ER16-620 360 -54 444,736 5,785,055 351 288
450 ER16-597 355 -60 444,744 5,785,005 348 288
450 ER16-608 355 -59 444,845 5,785,004 300 291
450 ER16-612 355 -60 444,873 5,785,011 369 293
450 ER16-617 355 -57 444,897 5,785,008 318 291
450 ER16-624 355 -63 444,924 5,784,940 360 275
450 ER16-619 355 -56 444,968 5,785,026 351 282
SL ER16-627 355 -45 446,335 5,784,950 249 280
SL ER16-623 355 -45 446,525 5,784,975 201 285
SL ER16-637 355 -45 446,547 5,785,053 296 280
SL ER16-633 355 -45 446,600 5,785,000 285 292
SL ER16-618 355 -45 446,921 5,784,815 177 296
SL ER16-603 355 -45 446,950 5,785,000 177 280
SL ER16-604 355 -45 447,044 5,785,010 120 277

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 Clearwater project is supervised by Eastmain's Project Geologist, Michel Leblanc 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 1000 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 10% 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. 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. 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.

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