Eastmain Resources Inc.

TSX : ER


Eastmain Resources Inc.

March 28, 2014 08:00 ET

Eastmain Resources Inc.: Clearwater Project-Final Assay Results

Drill Hole 532-25.8 g/t Gold over 4.0 metres, incl. 39.9 g/t Au over 2.0 metres

Drill hole 533-44.4 g/t Gold over 4.0 metres, incl. 82.2 g/t Au over 2.0 metres

TORONTO, ONTARIO--(Marketwired - March 28, 2014) - Eastmain Resources Inc. (TSX:ER) announces the final drill assay results from the 2013 program on its wholly-owned Clearwater Project, located in the James Bay region of Québec. The definition drill program completed on the Eau Claire gold deposit resulted in 132 gold-bearing intersections containing an average of 10.8 grams gold per tonne (g/t Au) over an average width of 4.34 metres, including 71 gold-bearing intersections at 15.5 g/t Au over an average thickness of 5.48 metres. Final assay results from drill holes 532 to 534 also include intervals with exceptional gold grades, reinforcing the lateral and vertical continuity of the 450 West Zone.

450 West Zone Drill Highlights

The Eau Claire deposit has a footprint 1.8 kilometres in length, which extends to a vertical depth of over 900 metres. 2013 drilling focused on the upper third of the deposit, with an emphasis on defining near-surface resources potentially mineable by open pit methods. 77 drill holes were completed on the 450 West Zone resulting in 335 gold-bearing intersections at an average grade of 5.53 g/t Au. The final three drill holes intersected a total of 24 gold-bearing zones with an average grade of 5.15 g/t Au. Within these zones, composed of quartz-tourmaline vein material and altered rock ("Zones"), feeder veins range from more than 50 to 127 grams per tonne gold (g/t Au) and greater than 50 to 190.5 g/t tellurium (Table 1 - also see website for illustrations).

Drill hole 532 intersected a 4.0-metre-wide Zone with fine grained visible gold, grading 25.8 g/t Au and 37.3 g/t tellurium (Te) at a down-hole depth of 279.2 metres. The interval includes a two-metre wide high-grade section with an average grade of 39.9 g/t Au and 57.8 g/t Te. This intercept is 55 metres down-dip of hole 520, which assayed 9.69 g/t Au over 10.0 metres.

Drill hole 533 also intersected a very high-grade 4.0-metre-wide gold-bearing Zone with visible gold containing 44.4 g/t Au and 80.2 g/t Te, including a 2.0-metre interval of 82.2 g/t Au and 150.5 g/t Te at approximately 300 metres vertical depth. This intersection is 25 metres east of drill hole 512, which assayed 8.50 g/t Au across 16.0 metres.

Drill hole 534 intersected a six-metre-wide Zone at a depth down-hole of 286.7 metres, which assayed 5.80 g/t Au and 10.9 g/t Te, and includes a 0.50-metre interval at 54.6 g/t Au and 106.0 g/t Te.

The 2013 drilling program focused on defining the lateral and vertical continuity of the 450 West Zone utilizing a modeled 0.5 g/t gold grade shell as an exploration guideline and a 25- by 50-metre drill pattern. According to Dr. Robinson, "2013 definition drilling at Eau Claire has generated some of the highest gold grades and thicknesses ever delineated on the deposit. Over 90% of the known gold mineralization occurs within a structural and stratigraphic corridor outlined by this grade shell, which is an excellent guide for further definition and expansion of potential mineable resources. These very- high-grade intervals appear to form at the intersection of two or more structures, creating a dilatational opening, which is repeated in an en-echelon fashion along a NW-SE trend."

Table 1: Assay Highlights

Eau Claire Gold Deposit - 2013 Drilling Summary
Cut-off grade Number of Average Average Average
Au (g*m) Intercepts Length (m) Au (g/t) Te (g/t)
≥ 2.5 223 3.43 7.63 10.1
≥ 5.0 132 4.34 10.8 14.2
≥ 7.5 95 4.84 13.2 17.5
≥ 10.0 71 5.48 15.5 21.1
Hole ID From (m) To (m) Length (m*) Au (g/t) Te (g/t) VEIN ID
ER13-532 252.2 255.7 3.50 2.34 2.11 F
incl. 252.7 253.2 0.50 9.96 5.16 F
279.2 283.2 4.00 25.8 37.3 G
incl. 279.2 279.7 0.50 7.41 11.8 G
incl. 279.7 280.2 0.50 16.4 23.7 G
incl. 280.2 280.7 0.50 10.8 14.8 G
incl. 280.7 281.2 0.50 11.9 17.5 G
incl. 281.2 283.2 2.00 39.9 57.8 G
incl. 281.2 281.7 0.50 39.2 57.0 G
incl. 281.7 282.2 0.50 26.5 37.9 G
incl. 282.2 282.7 0.50 51.2 71.1 G
incl. 282.7 283.2 0.50 42.8 65.0 G
364.7 368.2 3.50 2.63 4.08 JQ
incl. 364.7 365.2 0.50 14.7 23.1 JQ
ER13-533 293.3 299.3 6.00 3.81 4.81 G
incl. 297.3 297.8 0.50 35.0 42.6 G
339.2 343.2 4.00 44.4 80.2 I
incl. 339.2 341.2 2.00 82.2 150.5 I
incl. 339.2 339.7 0.50 88.9 149.5 I
incl. 339.7 340.2 0.50 92.0 136.0 I
incl. 340.2 340.7 0.50 20.7 126.0 I
incl. 340.7 341.2 0.50 127.0 190.5 I
ER13-534 286.4 292.4 6.00 5.80 10.91 G
incl. 286.9 287.4 0.50 54.6 106.0 G
338.3 340.3 2.00 4.40 5.49 I
incl. 338.8 339.3 0.50 10.6 13.1 I
354.3 360.3 6.00 3.32 3.85 JQ
incl. 355.3 355.8 0.50 11.3 14.4 JQ
Note: * Vein thickness approximates true width; (g/t) - grams per tonne; (m) - metres

All 2013 trenching and drilling data is currently being incorporated into a revised geological model, which will form the basis of a block model resource update. Our objectives are to convert widely-spaced inferred resources into well-defined measured and indicated resources that will have a positive impact on the future economics of the project.

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

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