Eastmain Resources Significantly Expands its Land Position Adjacent to Clearwater
TORONTO, ONTARIO--(Marketwired - Aug 11, 2016) - Eastmain Resources Inc. (TSX:ER) ("Eastmain" or the "Company") announces staking of the 600 claim (31,600 ha) Lac Clarkie Project ("Clarkie") located immediately east of the Company's flagship Clearwater Project ("Clearwater") which hosts the Eau Claire deposit (SEE FIGURE 1: http://media3.marketwire.com/docs/er0811fig1.pdf). The Clearwater and Clarkie claims cover a combined total of 51,614 ha of prospective greenstone belt in the Eastmain/Opinaca district of James Bay, Quebec.
Claude Lemasson, Eastmain President and CEO commented, "These new claims represent a 30% increase to our total land package to 137,665 ha in the highly prospective James Bay gold district. We intend to begin exploration work immediately, beginning with airborne geophysical and LIDAR surveys, followed by prospecting."
He continued, "James Bay is a rich, new and accessible gold district since the establishment of Plan Nord and the launch of Goldcorp's Eleonore Mine in 2014. Spurred by important new discoveries and intensified exploration, we continue to see compelling opportunities for exploration upside in James Bay."
LAC CLARKIE PROJECT GEOLOGY
The 600 new claims are located to the east and contiguous with Clearwater, within the Middle Eastmain Volcanic Belt of the Eastmain Sub-Province and overlain by sedimentary rocks of the Opinaca Sub-Province. Preliminary work in the area has identified two key areas for initial exploration focus:
- SOUTHERN STRUCTURAL ZONE: This area is underlain by mafic flows of the 3 km by 15 km Natel Formation, representing a possible extension of the Eau Claire host stratigraphy from Clearwater. The Natel formation ranges along a major east-west trending crustal deformation zone which extends through both the Clearwater and Clarkie Projects and is spatially related to the Eau Claire deposit.
- NORTHERN SEDIMENTARY BASIN: This area is underlain by Opinaca-type Clarkie Formation sedimentary rocks comparable to the host rocks of the Eleonore gold mine. These sediments are hosted in southeast trending 26 km long by 15 km wide basin. Several marker horizons, such as polymictic conglomerates, that have been identified on the eastern shore of Lac Clarkie are also found in the sedimentary rocks located east of the Eleonore gold mine. These are comparable to the Timiskaming conglomerates observed within the Kirkland Lake gold camp and are indicative of a regional structural/stratigraphic break.
2016 WORK PROGRAM
The 2016 fall/winter three-phase work program is defined as:
- Phase 1: Comprised of LIDAR, airborne magnetic and electromagnetic surveys;
- Phase 2: Builds on the previous surveys with follow-up prospecting and soil geochemical surveying for target definition; and,
- Phase 3: Upon completion of Phases 1 & 2, detailed mapping is planned to identify priority drilling targets with first phase of drilling to begin in late 2017.
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 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.
Contact
Eastmain Resources Inc.
Claude Lemasson
President and CEO
+1 647-347-3765
lemasson@eastmain.com
Eastmain Resources Inc.
Alison Dwoskin
Investor Relations
+1 647-347-3735
dwoskin@eastmain.com