Eastmain Resources Inc.

TSX : ER


Eastmain Resources Inc.

December 31, 2013 08:25 ET

Eastmain Resources Inc.: Clearwater Project-Eau Claire Deposit

Hole 501 - 10.94 g/t Au over 12.0 m

Includes 19.85 g/t Au over 5.0 m

TORONTO, ONTARIO--(Marketwired - Dec. 31, 2013) - Eastmain Resources Inc. (TSX:ER) announces an update to the current delineation drill program on its wholly-owned Clearwater Project, located in the James Bay region of Quebec. 77 drill holes, totaling 31,625 metres, were completed during 2013. The drill program has confirmed a continuous high-grade, gold-mineralized system over a length of 600 metres, contained within multiple parallel Vein zones between surface and 300 metres depth. Significant gold-assay intercepts from drilling coincide with, and extend laterally beyond the known limits of the Eau Claire gold deposit, defining additional lateral and vertical continuity, which is expected to contribute to future mineable resources.

450 West Zone Drill Highlights

The drill program has focused on testing only the upper one-third of the 450 West Zone, which extends from surface to a vertical depth of 900 metres. Assays received to date confirm that over 80 gold-bearing intervals exceed resource cut-off parameters. Highlighted below are several exceptional drill intercepts ranging from 10.94 g/t Au over 12.0 metres to 4.88 g/t Au across 31.0 metres. A substantial number of outstanding high-grade assay intervals, such as 19.85 g/t Au over 5.0 metres, intersected in hole 501, have been confirmed from the 2013 drilling. This intersection includes six one-half metre samples ranging from 18.1 to 42.5 g/t Au. With assays of up to 8.5 g/t gold over a width of 16 metres, hole 512, drilled approximately 150 metres down-dip of ER12-456, which returned 10.98 g/t Au over 11.0 metres, also demonstrates continuity of a wider high-grade zone at the lower contact of the Eau Claire deposit. A more complete listing of assay intervals from the 2013 program and figures are posted on our website (see News Releases - Dec. 31, 2013 Table 1).

Hole ID From (m) To (m) Length (m)* Au (g/t) Te (g/t) VEIN ID
ER13-501 152.5 164.5 12.0 10.94 9.92 C
incl. 153.0 158.0 5.00 19.85 16.34
228.5 230.0 1.50 30.07 43.4 G
ER13-505 213.0 274.8 61.8 2.48 3.97 D to H
incl. 213.0 230.5 17.0 2.98 3.40 D
262.3 263.3 1.00 22.65 34.18 G
271.8 274.8 3.00 19.96 40.63 H
ER13-512 312.5 343.5 31.0 4.88 6.56 H to P
incl. 320.0 336.0 16.0 8.50 11.6 I
incl. 326.0 326.5 0.50 46.40 59.80
incl. 335.5 336.0 0.50 31.30 40.00
* Vein thicknesses approximate true thicknesses.

Independent Qualified Persons from Eastmain's Technical Advisory Committee and from P&E Mining Consultants Inc. have advised management that the exceptional results derived from the 2013 trenching and drilling programs (see also Oct 24 and Nov 8, 2013 news releases) are material and must be included in the block model resource update in order to be compliant with National Instrument (NI 43-101) standards of disclosure. Assay results pending for 22 drill holes (over 4,500 core samples) are expected by the end of January 2014.

Mr. Serge Bureau, MSc. (Precambrian Economic Geology), P.Eng., Qualified Person and Technical Advisor (Development Group) to Eastmain will be directly involved in the supervision of the block model resource update and future planning and development of the Eau Claire Deposit. All of the 2013 surface channel sample and drill data will be incorporated into the 3D block model with the objective of defining a resource model which best reflects a future potentially economic resource at Clearwater.

Eugene Puritch, P.Eng., President of P&E Mining Consultants Inc., recently commented, "In order for the Eau Claire Deposit to be appropriately evaluated for future economic studies, the polygonal to 3D block model conversion is a necessary component as is the inclusion of the very encouraging 2013 drill program results."

According to Dr. Robinson, "High-grade 2013 surface channel sampling and drilling from the 450 West Zone continue to add to the lateral and vertical continuity of a potentially mineable gold resource at Eau Claire. 2013 results are expected to have a material change on the deposit and accordingly, as per regulations set forth in NI 43-101, must be included in the resource update. We view this as a very positive stepping stone to building a working model of future economic resources at Eau Claire. In addition, based on his extensive experience with open pit and underground gold deposits in Canada and overseas, we are very pleased to have Mr. Bureau's involvement with future planning and development of the Eau Claire Gold Deposit."

Dr. Donald J. Robinson, P. Geo., President and Chief Executive Officer of Eastmain, Qualified Person under National Instrument 43-101 reviewed and approved the technical data presented in this press release.

Chemical analysis was completed by ALS CHEMEX Laboratories on 0.5 to 1.0 metre HQ drill core samples. All sample material is crushed; one kg is split and pulverized. A 50-gram spilt is analyzed using multi-element ME-MS, gold ICP, AA, Fire Assay and gravimetric techniques. Internal standards provided by an independent company and blank samples were inserted for quality control purposes.

About Eastmain Resources Inc. (TSX:ER) Eastmain is a Canadian gold exploration company with 100% interest in the Eau Claire and Eastmain gold deposits. The Corporation holds a pipeline of exploration projects within the James Bay District, including the Éléonore South property. The Corporation has sufficient working capital to continue its exploration programs for the foreseeable future.

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.

Contact Information

  • Eastmain Resources Inc.
    Dr. Donald J. Robinson
    President
    (519) 940-4870
    (519) 940-4871 (FAX)

    Eastmain Resources Inc.
    Catherine Butella
    Exploration Manager
    (519) 940-4870
    (519) 940-4871 (FAX)
    info@eastmain.com
    www.eastmain.com