TORONTO, ONTARIO–(Marketwired – July 12, 2016) – Eastmain Resources Inc. (“Eastmain” or the “Company”) (TSX:ER) is pleased to announce a $1.3 Million exploration program at the Eastmain Mine Project, including the Ruby Hill East and West properties in Quebec’s James Bay gold district. The planned 2016 exploration program will consist of mapping and prospecting, 3,700 metres of mechanical trenching, and approximately 5,000 metres of drilling (SEE FIGURE 1).
Claude Lemasson, Eastmain President and CEO commented, “The Eastmain Mine Project and the Ruby Hill East and West Blocks are significantly under-explored. We are focusing the bulk of our exploration efforts on understanding the 10 km NW trending mine horizon within the Eastmain Mine Project, which we believe may repeat on the Ruby Hill East block. The mine horizon includes a historic resource over 2 km, as well as high-priority drill targets. Through systematic trenching and drilling, we aim to enhance our current understanding of several of the mineralized structures on these properties to better define the resource potential.”
Prospecting will follow up on 15 identified targets located within highly prospective geological units associated with the ultramafic sequences on the Eastmain Mine, Ruby Hill East and Ruby Hill West claims. The targets were identified by Diagnos Inc., who conducted a regional Computer Aided Resource Detection System (“CARDS”) analysis in early 2016. The system uses pattern recognition algorithms to analyse compiled digital exploration data, and to identify areas with similar geological signatures to known areas of mineralization. The CARDS system identified the gold exploration targets (FIGURE 2) and will be prospected by Diagnos in coordination with, and supported by Eastmain staff.
Mechanical Trenching, set to begin in late July, will follow up on previously defined high grade gold surface showings (see press release dated, September 26, 2014) and VTEM electromagnetic conductors. Specifically, trenching will focus on the outcropping Julian, Suzanna, Michel and Hillhouse targets, which present similar Au-Ag-Cu mineralization, characteristic of Eastmain’s past-producing A and B zones. Hillhouse and Julian targets coincide directly with the northwest extension of the projected Eastmain Mine package, while Michel and Suzanna are located along a secondary parallel structure, interpreted to be a repetition of the mine sequence immediately west of the main feature.
Drilling is set to begin in late August with up to 17 short diamond drill holes over approximately 5,000 metres in the Eastmain Mine block and the Ruby Hill East block. Drilling will follow up on the initial phase of the exploration program, which includes surface sampling and mechanical trenching.
Project Development Review
The company is initiating a full assessment of the Eastmain Mine project. This assessment includes a review of the historic resources and of the site infrastructure and conditions, which will help to determine future exploration and development programs on the property. It is expected to be completed by the end of the year.
The Eastmain Mine
The Eastmain Mine Project is a past producing property with ramp access to underground workings, and surface infrastructure sufficient to house a sixty-person work force, all of which is now accessible by a permanent road (Route 167 North). The former operators defined an historic resource of 255,750 ounces of 10 g/t Au, and extracted 40,000 ounces at an average grade of 10.58 g/t Au in 1995 from zones A and B. This historic resource has not been prepared by a qualified person for Eastmain under NI 43-101 and should not be relied upon.
The exploration programs are designed and will be supervised of Eastmain Mine Project Geologist, David Frappier-Rivard, Geo. (Quebec). Mr. Frappier-Rivard previously worked on all Eastmain projects and properties, and has significant experience in the James Bay Gold District of Quebec.
This press release was 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 Mine gold deposits, both of which are located within the James Bay District of Quebec. Eau Claire, the Company’s core asset, has access to superior infrastructure within 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.
To view Figure 1, visit the following link: http://media3.marketwire.com/docs/1062354-F1.pdf
To view Figure 2, visit the following link: http://media3.marketwire.com/docs/1062354-F2.jpeg
Claude Lemasson
President and CEO
+1 647-347-3765
[email protected]
Eastmain Resources Inc.
Alison Dwoskin
Manager Investor Relations
+1 647-347-3735
[email protected]
