Eastmain Resources Inc.
TSX : ER

Eastmain Resources Inc.

May 09, 2017 06:30 ET

Eastmain's Airborne Magnetic Survey at Clarkie Reveals Highly-Prospective Rock Domains

TORONTO, ONTARIO--(Marketwired - May 9, 2017) - Eastmain Resources Inc. ("Eastmain" or the "Company") (TSX:ER) is pleased to announce its 3,552 line-kilometre helicopter-borne magnetometer survey over its Clarkie Property (31,600 hectares), James Bay, Quebec, is now complete (see FIGURES 1 and 2). The Clarkie property, directly adjacent and to the east of the Company's Clearwater property, was acquired in July 2016.

The preliminary survey delineates 3 distinct geological domains on the property which may host analogues to the Eleonore Gold Mine (Northern Sedimentary Basin), the Eléonore South JV (Central Intrusive Complex) and the Clearwater Deformation Zone (see FIGURE 1).

Claude Lemasson, Eastmain President and CEO commented, "This new data reinforces our belief in the prospective nature of Clarkie, adjacent to Clearwater. The geology we have encountered is consistent with nearby discoveries, and bodes well for district-wide exploration potential."

Next Steps

The Company will undertake a prospecting and mapping program over a 35 to 45-day period in July/August. A 60-line km till geochemical survey will be conducted concurrent with prospecting, expecting to collect approximately 300 samples.

Both programs will be guided by the newly acquired magnetic survey by Geotech Ltd. and historic data developed by the Québec government and La Société de la Baie James. Results will be used to identify targets for drill testing in 2018. The program will be based out of the Clearwater camp.

Exploration Analogues at Clarkie

The Northern Sedimentary Basin comprises two-thirds of the northern Clarkie claims. The basin is underlain by Clarkie Formation epiclastic rocks; greywacke, siltstone, polymictic conglomerate and iron formation. The Eleonore Gold Mine is hosted in greywacke within a similar basin approximately 60 km to the northwest. Conglomerates analogous to the Kirkland Lake gold camp conglomerates are also present and are indicative of regional structural/stratigraphic breaks which are prospective for gold mineralization.

The Clearwater Deformation Zone is the interpreted eastern extension from the Eau Claire deposit, trending for 40 km across the southern portion of both the Clarkie Property and the Clearwater Project. The presence of a mafic volcanic sequence within the deformation zone offers a potential analogue to the structurally controlled Eau Claire gold deposit.

The Central Intrusive Complex is composed of a tonalite intrusive with additional diorite-granodiorite phases centrally located within the Northern Sedimentary Basin. Gold mineralization within and on the margins of a tonalite intrusive have been the focus of 2016-2017 exploration at the Eleonore South Joint Venture property located 35 km to the northwest. Both the core of the circular-shaped intrusion at Clarkie and its contacts with sediments are considered highly prospective.

Clarkie is located immediately to the east of the Clearwater Project which hosts to the Eau Claire deposit. Together, Clearwater and Clarkie cover 51,614 ha of prospective greenstone belt in the Eastmain/Opinaca district of James Bay, Quebec. Preliminary airborne flight data from the Clarkie survey and historic magnetic information from Clearwater are shown on FIGURE 1.

The survey was conducted by Geotech Ltd. using a stinger mounted, 40 Hz High-sensitivity Cesium vapour Airborne magnetic sensor and flown at a nominal elevation of 30 m. Flights were completed on April 24th and delivery of completed map products are expected before the end of May.

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.

This press release was compiled and approved by William McGuinty, P. Geo., Eastmain's VP Exploration and Qualified Person under National Instrument 43-101.

To view Figures 1 and 2 please click on the following link: www.eastmain.com/_resources/news/Images/ER-170509_Figure1-2.pdf

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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