Eastmain Resources Inc.

Eastmain Resources Inc.

October 01, 2014 09:00 ET

Eastmain Resources Inc.: Lac Lessard Project Nickel-Copper-PGM Mineralization Confirmed

TORONTO, ONTARIO--(Marketwired - Oct. 1, 2014) - Eastmain Resources Inc. (TSX:ER) announces positive prospecting and geochemical sampling results from its wholly-owned Lac Lessard Platinum Group Metal (PGM) project located 10 kms northeast of its 100%-owned Eastmain Mine property in James Bay, Quebec. 2014 exploration at Lac Lessard has confirmed that the property is underlain by an ultramafic pyroxenite intrusion containing highly anomalous concentrations of nickel-copper-PGM and gold.

Lac Lessard is underlain by a kilometric-scale ultramafic intrusive complex principally composed of pyroxenite. In 2013 the property was surveyed using a combined airborne magnetic and electromagnetic VTEM system. Ten highly conductive isolated VTEM anomalies were identified and recommended for follow up. Based on integrated airborne magnetic data and VTEM survey responses, these isolated conductors were interpreted to reflect disseminated to massive sulphide sources (see website for figures).

Geological mapping and prospecting completed this summer, confirmed the presence of a large ultramafic pyroxenite intrusion, highly prospective for nickel-copper (Ni-Cu) magmatic sulphide bodies, with accessory platinum group metal (PGM) potential. Elevated concentrations of Ni-Cu-PGM-Au were confirmed over an area of several kilometres across the intrusion.

235 rock samples were collected from the pyroxenite intrusion, with 86 samples containing from 0.10 to 2.82% Ni, including 22 samples grading >0.5% Ni. 60 rock samples assayed from 0.10 to 0.60% Cu, including 25 samples grading >0.25% Cu.

The intrusion also contains elevated concentrations of platinum (Pt), palladium (Pd) and gold (Au) with 64 rock samples ranging from 0.10 to 2.50 grams total Pt + Pd + Au per tonne. 18 of these samples contain more than 0.5 grams per tonne total PGMs + Au. These assay values include ranges of from 0.29 to 1.05 g/t Pd, 0.12 to 0.89 g/t Pt and 0.04 to 0.45 g/t Au.

A follow-up drill program is proposed to test these very prospective targets as the next stage of exploration this fall.

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 using a 50-gram split with ICP-MS, FA-ICP, LECO, AA 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 exploration company with 100% interest in the Eau Claire and Eastmain gold deposits, both of which are located within the James Bay District of Quebec. Eau Claire, our core asset, has superior infrastructure within a favourable jurisdiction and is royalty free. The Corporation also holds a pipeline of exploration projects in this new Canadian mining district.

For further information please visit our website at www.eastmain.com.

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
    (519) 940-4870
    (519) 940-4871 (FAX)

    Eastmain Resources Inc.
    Catherine Butella
    Exploration Manager
    (519) 940-4870
    (519) 940-4871 (FAX)