Eastmain Resources Inc.
TSX : ER

Eastmain Resources Inc.

December 12, 2016 06:30 ET

Eastmain Trenches Discover Additional High-Grade Gold and Copper Mineralization at the Eastmain Mine Project

TORONTO, ONTARIO--(Marketwired - Dec. 12, 2016) - Eastmain Resources Inc. (TSX:ER) ("Eastmain" or the "Company") is pleased to announce results from its completed 2016 trenching and channel sampling program on its 100%-owned Eastmain Mine Project, located in James Bay, Quebec.

These results are from a total of 1,804 m2 of trenching and channel sampling completed on the Julien and Suzanna targets, located 2.5 km and 2.9 km respectively, to the northwest of the historic mine site. A total of 3,180 m2 has been reported. Significant assay results are summarized in Tables 1 and 2 below and presented in FIGURES 1 TO 5.

Highlights include:

  • Channel J3-6: 45.1 g/t Au, 26.5 g/t Ag and 0.61% Cu over 2.0 m, including 85.5 g/t Au, 48.0 g/t Ag and 1.09% Cu over 1.0 m
  • Channel J3-5: 4.81 g/t Au, 10.3 g/t Ag and 0.44% Cu over 6.5 m, including 13.5 g/t Au, 28.0 g/t Ag and 1.17% Cu over 2.0 m
  • Channel J4-3: 5.04 g/t Au, 8.34 g/t Ag, 0.59% Cu over 2.5 m, including 10.7 g/t Au, 13.9 g/t Ag, 1.26% Cu over 0.5 m
  • New mineralized structures have been identified

Claude Lemasson, President and CEO of Eastmain Resources commented, "We're very encouraged by the presence of these high gold, silver and copper grades in our channel sampling. Our 2016 exploration program is demonstrating a strong potential for the historic mine site mineralization to extend west-northwest, as well as identifying new structures nearby."

TRENCHING PROGRAM

The 2016 trenching program exposed high-grade gold-silver-copper mineralization within a bimodal felsic/mafic volcanic sequence, at three targets: Julien, Suzanna and Hillhouse. Each target reported mineralization and geology which supports continued exploration. The most prospective assay results to date are coming from the Julien target, located approximately 300 m northeast of the northwest striking Eastmain mine trend.

The mineralization identified by trenching coincides with historic soil geochemical anomalies and locally to electromagnetic trends obtained by Eastmain in previous years. Further surface exploration will focus on extending the mineralized trends discovered in the new trenches. Eastmain will apply its geochemical and geophysical databases to locate additional mineralized zones and define future drill targets.

Trench EM16-J1 (200 m2) tested a limited strike length electromagnetic anomaly. The source of the conductor corresponds to a mineralized contact between felsic and mafic volcanic rocks and returned 0.65 g/t Au over 1.0 m.

Trench EM16-J3 (600 m2) is located just east of Julien Lake, and adjacent to a mineralized outcrop with grab values of 30.9 g/t Au, 24.9 g/t Ag and 1.12% Cu (see Fiscal Year 2013 Management's Discussion and Analysis). The trench exposed the surface expression of the mineralized zone intersected in hole EM16-76, that returned 219 g/t Au, 153 g/t Ag and 2.54% Cu over 2.0 m (including 752 g/t Au, 464 g/t Ag and 4.47% Cu over 0.5 m) (Press release November 14th, 2016). The best values are from channel J3-6 that returned 45.1 g/t Au, 26.5 g/t Ag and 0.61% Cu over 2.0 m including 85.5 g/t Au, 48.0 g/t Ag and 1.09% Cu over 1.0 m. The gold mineralization is closely associated with a mineralized quartz vein located within in a silicified sulphide mineralized felsic volcanic rock.

Trench EM16-J4 (487 m2) exposed high grade mineralization 190 m west-southwest of trench EM16-J3, and 65 m west of Julien Lake, centered on the Julien showing (surface samples values ranging to 27.3 g/t Au, 18.1 g/t Ag and 0.70% Cu) discovered by Placer Dome in 1982. The gold mineralization is hosted in a mineralized quartz vein, varying in thickness up to 1.2 m. The quartz vein is mineralized with pyrite, pyrrhotite and chalcopyrite and is injected into a sheared and strongly biotitized basalt unit. The sheared basalt is also gold bearing, returning up to 1.09 g/t Au over 0.5 m. The best assay from trench EM16-J4 is from channel J4-3 returning 5.04 g/t Au, 8.34 g/t Ag and 0.59% Cu over 2.5 m including 10.7 g/t Au, 13.9 g/t Ag and 1.26% Cu over 0.5 m.

At the Suzanna Zone, Trench EM16-S2 (517 m2) targeted a moderate electromagnetic conductor. The exposed rock presents an intensely altered basalt composed of quartz, biotite and fuchsite. When the alteration is associated with disseminated sulphide mineralization (pyrrhotite, chalcopyrite) gold mineralization is also present. The best gold value is from channel S2-20 returning 3.96 g/t Au over 1.0 m including 7.13 g/t Au over 0.5 m.

Significant results from the final portion of the 2016 trenching program is presented in Table 1 below.

Table1: Channel Samples Result Summary


Trench ID

Channel ID
Channel Samples Including
Target Zone
Assay Length Assay Length
g/t Au g/t Ag % Cu m g/t Au g/t Ag % Cu m
EM16-J1 J1-1 0.65 - - 1.0 - - - - Julien
EM16-J3 J3-4 3.13 5.45 0.31 6.5 18.1 29.1 1.70 1.0 Julien
J3-5 4.81 10.3 0.44 6.5 13.5 28.0 1.17 2.0 Julien
J3-6 45.1 26.5 0.61 2.0 85.5 48.0 1.09 1.0 Julien
J3-7 1.22 1.95 0.11 1.5 2.01 2.15 0.10 0.5 Julien
J3-8 1.05 0.78 0.06 0.5 - - - - Julien
J3-9 0.45 2.36 0.18 3.5 0.77 0.97 0.07 0.5 Julien
J3-10 4.55 3.40 0.18 2.5 10.1 5.51 0.26 1.0 Julien
J3-11 4.05 1.91 0.09 2.0 14.4 4.40 0.14 0.5 Julien
J3-12 0.75 1.78 0.11 2.5 1.83 2.72 0.17 0.5 Julien
J3-13 2.75 2.29 0.16 4.5 14.3 6.30 0.34 0.5 Julien
EM16-J4 J4-2 1.80 3.57 0.25 2.5 3.63 8.18 0.90 0.5 Julien
J4-3 5.04 8.34 0.59 2.5 10.7 13.9 1.26 0.5 Julien
J4-4 3.40 15.0 0.74 2.5 6.21 26.8 1.48 1.0 Julien
J4-7 1.25 3.10 0.06 3.0 5.87 7.52 0.1 0.5 Julien
J4-8 3.48 10.7 0.07 2.0 9.84 27.5 0.08 0.5 Julien
J4-9 8.29 29.9 1.29 1.0 9.51 22.7 1.13 0.5 Julien
J4-10 0.64 3.84 0.22 3.0 2.39 13.7 0.84 0.5 Julien
J4-11 0.59 4.59 0.05 1.5 1.09 8.64 0.34 0.5 Julien
J4-12 0.28 5.28 0.33 2.0 - - - - Julien
J4-13 1.06 2.91 0.24 2.0 1.72 5.71 0.49 0.5 Julien
J4-14 0.63 1.99 0.17 0.5 - - - - Julien
J4-15 0.40 1.44 0.20 1.0 0.55 0.92 0.11 0.5 Julien
J4-16 0.69 0.77 0.03 0.5 - - - - Julien
J4-17 0.30 1.01 0.12 0.5 - - - - Julien
J4-18 0.25 1.33 0.08 0.5 - - - - Julien
EM16-S2 S2-8 0.72 0.16 0.06 0.5 - - - - Suzanna
S2-20 3.96 0.23 0.05 1.00 7.13 0.17 0.04 0.5 Suzanna

A total of three grab samples were taken from trenches EM16-J3 and EM16-J4. Grab samples were taken to assay rock located in areas that were hard to channel sample. The grab sample values and coordinates are provided in Table 2.

Table 2: Grab Samples Results

Sample # Easting Northing Trench Description Gold Assay (g/t Au) Silver Assay (g/t Ag) Copper Assay (% Cu)
Q221627 697091 5800459 EM16-J4 Grey quartz vein 3.59 11.7 0.95
Q221665 697124 5800478 EM16-J4 Chlorite schist 0.17 2.10 0.19
Q221666 697292 5800587 EM16-J3 Grey quartz vein 46.5 91.9 3.50

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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