Eastmain Resources Inc.: Clearwater Project
09.02.2012 | Marketwire
- More 850 West & Gap Zone Drill Assays- RC Trench 'Soccer Field' 16.4 g/t Gold across 13.5 m
TORONTO, ONTARIO -- (Marketwire) -- 02/09/12 -- Eastmain Resources Inc. (TSX: ER) is pleased to announce drilling and trenching results from its wholly-owned Clearwater Project, located in James Bay Quebec. 2011 drilling focused on testing the 850 West and Gap Zones, located immediately west of the Eau Claire Gold Deposit. 68 drill holes were completed at 25- to 50-metre intervals over an area 550 metres long by approximately 300 metres wide, and to a vertical depth of more than 300 metres. Assay highlights are reported for 51 drill holes and five trenches (Tables 1 and 2). Visible gold has been observed in 25 drill holes and from the Rebecca Collins (RC) 'Soccer Field' trench. Numerous screen-metallic check assays on samples containing visible gold have increased the grade of several of these intervals. Additional assay data is pending.
The 2011 drill program has confirmed a stacked series of gold-bearing, quartz-tourmaline veins, ranging from 0.5 to 25.5 metres in thickness, within the 850 West and Gap Zones. Veins range in grade from 0.50 to 60.5 g/t Au and up to 88.75 g/t Te, with an average grade of 6.50 g/t Au over 6.09 metres (Table 1). These drill intersections, which are located outside the limits of the previous resource estimate, are expected to have a positive impact on expanding total gold resources at the Eau Claire gold deposit.
A 40,000-metre, $7M drill program has been approved for the Clearwater Project. The top priority will be to expand and define gold resources amenable to open pit extraction. Prospecting, trenching and drilling will continue along the key horizon, extending laterally in both directions from the Eau Claire deposit.
Trenching & Prospecting
Channel sample data from the RC Soccer Field Trench, located on the south face of the 850 West Zone ridge, has confirmed very high grade gold assays from seven different intervals (Table 2; see website for plan map). Abundant visible gold was reported from this target area. Several continuous high grade intervals include: Channel RC-2, grading 8.0 g/t Au across 4.50 metres; channel RC-3, which contains 16.4 g/t Au over 13.5 metres, including 24.0 g/t Au over 8.5 metres and 268.0 g/t Au over a half-metre interval; and channel RC-6 with values of up to 8.4 g/t Au over 7.5 metres, including 13.3 g/t Au over 3.5 metres. The RC Soccer Field trench corresponds with the surface projection of Vein 10.
Regional prospecting has also located high-grade gold samples within the following target areas - the Pascal, Castor, Boomerang and Knight mineral occurrences. As previously reported, up to 66.5 g/t Au was discovered in quartz-tourmaline veins at the Pascal showing, 500 metres west of the 850 West Zone. Rock samples taken in the Castor area, located immediately south and east of the 450 West Zone, assayed 10.15, 13.0 and 30.5 g/t Au with accessory tellurium (Table 2). Recent channel sampling (2011) from the Boomerang area confirmed high-grade gold at trench CW15, where mineral values range from 6.89 to 17.4 g/t Au and 6.84 to 20.5 g/t Te, within quartz-tourmaline veins located one kilometre east of Eau Claire. Two rock samples taken this year from the Knight prospect, located 15 kilometres east of Eau Claire, assayed 13.2 and 17.4 g/t Au (Table 2, see website for map).
Regional exploration to date on the property has defined several high-priority, drill-ready targets, located well outside the limits of the Eau Claire gold deposit. Historical and current prospecting and trenching are responsible for the discovery of a number of significant regional mineral occurrences on the property, which have not yet been drill tested, including: Pascal, Natel, Vanna, Serendipity and Knight. Additional trenching and definition drilling will continue in 2012 to evaluate these target areas and to test the resource potential of the RC Soccer Field Trench (see website for maps and photos).
Dr. Donald J. Robinson P.Geo, is the Qualified Person for the information contained in this press release and is a Qualified Person within the meaning of National Instrument 43-101. Chemical analysis was completed by ALS CHEMEX Laboratories using a 50-gram split and gravimetric techniques. Screen metallic samples are screened to 100 microns. 50-gram splits are then fire- assayed using an AAS finish. Internal standards, provided by an independent company, and blank samples were inserted for quality control purposes. Assay samples are taken from HQ core, sawed in half along the core axis with one-half sent to ALS and the other half retained for future reference. Unless otherwise indicated, sample length approximates true thickness.
About Eastmain Resources Inc. (TSX: ER)
Eastmain is a Canadian gold exploration company with 100% interest in the Eau Claire and Eastmain gold deposits which together contain 632,000 ounces of gold in Measured & Indicated resources 1), 255,750 ounces gold in Historical Measured and Indicated resources 4) plus 1,020,000 ounces of gold in Inferred resources 2). The Corporation has $17.6 Million in its treasury and holds a pipeline of exploration projects within the James Bay District, including the Eleonore South property, which lies immediately south of Goldcorp's multi-million-ounce Eleonore property. Eastmain has allocated $10 million for exploration of its key gold projects in Quebec for 2011. Work will include 40,000 metres of drilling.
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.
1) Measured & Indicated Resources (which may potentially be extracted by
both open and underground mining methods) of 3,354,000 tonnes
containing 632,000 ounces gold @5.86 g/tgold uncapped - Eau Claire
NI43-101 NR Apr 26, 2011
2) Inferred Resources (which may potentially be extracted by both open
and underground mining methods) of 5,322,000 tonnes containing
1,020,000 ounces gold @ 6.06 g/t gold uncapped - Eau Claire NI43-101
NR Apr 26, 2011
3) Near-surface Open Pit Measured & Indicated Resources for Eau Claire
(only that portion of the Eau Claire deposit that could potentially be
mined by open-pit methods): 2,729,000 tonnes containing 502,000 ounces
@5.72 g/t gold -- Eau Claire NI43-101 NR Apr 26, 2011; NR May 19, 2011
4) 255,750 ounces gold - Measured & Indicated Historical Non-NI43-101
Compliant Resources at Eastmain Mine (Campbell 2004 AR) and should not
be relied upon. A qualified person from Eastmain has not done
sufficient work to classify the historical estimate as current mineral
resources, and therefore the historical estimate should not be treated
as current mineral resources.
Table 1. Clearwater Project - 2011 Drill Assays
Hole ID Vein ID From To Length (m) Au (g/t) Te (g/t) Notes
-------- ------- ------ ------ ---------- -------- -------- -----
ER11-283 V10 150.00 157.00 7.00 3.47 1.47
incl. 152.00 153.50 1.50 14.82 5.16
ER11-284 V12 99.80 104.10 4.30 10.35 10.66
incl. 100.80 102.30 1.50 25.53 25.93 VG
V10 159.90 162.90 3.00 3.14 1.81
ER11-285 40.00 41.20 1.20 8.86 3.69
V12 64.00 83.00 19.00 0.97 0.94
V10 162.40 169.90 7.50 1.03 1.02
ER11-286 V12 85.50 98.00 12.50 1.06 0.94 VG
ER11-287 V12 66.50 80.00 13.50 6.96 4.69
incl. 66.50 68.00 1.50 60.49 40.31 VG++
V10 185.50 207.00 21.50 0.62 0.62
ER11-288 V12 107.00 121.00 14.00 0.23 0.20
V10 139.50 142.00 2.50 10.75 0.17 VG
ER11-289 V12 72.80 81.20 8.40 1.45 1.39
V10 187.00 205.50 18.50 0.30 0.46
ER11-290 V12 69.50 71.00 1.50 5.66 4.39
V10 208.50 216.50 8.00 0.44 0.60
ER11-291 V12 66.30 66.80 0.50 5.25 0.64
ER11-292 V12 125.00 130.50 5.50 3.63 3.15
ER11-293 V16 45.00 46.50 1.50 5.15 4.71
V12 118.00 124.50 6.50 1.85 2.24
ER11-294 V10 200.50 205.70 5.20 0.48 0.49
ER11-295 V12 92.00 95.80 3.80 3.20 0.10
ER11-297 V12 128.00 132.50 4.50 1.13 1.25
ER11-298 V12 139.80 152.00 12.20 17.94 17.93 VG++
incl. 142.40 151.50 9.10 23.96 23.85
ER11-299 V18 29.50 37.00 7.50 1.99 1.92
V14 132.00 136.00 4.00 0.70 0.79
V10 227.00 229.00 2.00 49.88 0.67 VG++
V8 249.00 257.50 8.50 0.17 1.10
ER11-301 V12 184.00 194.00 10.00 2.35 2.01
184.00 188.00 4.00 5.07 4.40
V10 208.00 217.50 9.50 1.23 1.05
ER11-303 V12 144.50 155.00 10.50 7.79 8.13 VG
incl. 151.00 153.50 2.50 24.93 26.71
ER11-304 V12 146.00 152.50 6.50 0.72 0.72
ER11-305 V12 136.00 161.50 25.50 2.68 3.33
incl. 136.50 153.50 17.00 3.90 4.82
incl. 136.50 139.00 2.50 19.79 22.98 VG++
ER11-307 V12 146.00 149.50 3.50 1.23 0.98
Sophie 331.50 338.00 6.50 3.28 3.02 VG++
ER11-308 T Veins 262.00 278.50 16.50 7.29 12.31
incl. 276.00 278.50 2.50 35.08 73.58 VG++
ER11-309 Gap 266.50 269.50 3.00 18.06 23.14
incl. VSL 267.50 269.00 1.50 35.74 45.52 VG
ER11-310 V12 165.00 178.00 13.00 3.35 4.09
incl. 176.50 177.50 1.00 35.57 51.88 VG++
V8 270.00 277.00 7.00 0.26 0.83
ER11-311 V12 181.00 185.00 4.00 0.64 1.17
ER11-313 VSL 281.50 283.00 1.50 4.31 9.11
T8 324.00 326.00 2.00 0.76 22.31
ER11-314 MatSky 22.50 26.00 3.50 1.19 1.09 VG
V20 42.00 46.50 4.50 0.94 0.99
T veins 269.00 281.00 12.00 2.32 1.53
incl. 276.00 280.00 4.00 5.32 2.83
VSL 295.00 297.00 2.00 19.22 88.75 VG++
ER11-315 V18 44.50 55.00 10.50 0.36 0.30
V12 193.00 196.50 3.50 0.33 1.19
ER11-316 402.00 408.50 6.50 3.59 4.72
ER11-317 V10 266.50 274.00 7.50 1.05 1.11
Sophie 398.50 399.00 0.50 21.20 13.25 VG
ER11-318 V16 146.50 150.50 4.00 1.79 1.52
156.00 163.00 7.00 0.62 0.66
ER11-319 T Veins 159.50 161.00 1.50 1.93 0.05
Gap 315.00 320.00 5.00 2.78 8.00
ER11-320 V20 72.00 72.50 0.50 7.31 0.06
V16 186.00 193.00 7.00 0.41 0.41
V12 208.50 225.50 17.00 1.10 1.35 VG++
incl. 208.50 214.50 6.00 2.47 1.96
ER11-321 Gap 85.00 85.50 0.50 8.15 4.50
T6 224.50 230.00 5.50 0.65 0.81
T7 281.00 287.50 6.50 0.78 1.03
VSL 309.00 314.00 5.00 1.77 13.84 VG
ER11-322 Gap T7 64.00 72.00 8.50 0.81 1.05
VSL 245.00 247.50 6.00 0.64 1.36
ER11-323 V12 205.00 209.00 4.00 4.56 3.27
incl. 205.00 206.50 1.50 11.55 7.96 VG++
V8 385.00 385.50 0.50 21.20 9.05 VG++
Sophie 404.00 405.00 1.00 6.79 5.63 VG
V6 423.00 423.50 0.50 9.79 10.10 VG
ER11-325 V18 92.50 93.00 0.50 6.34 0.05 VG++
V10 298.00 303.00 5.00 0.65 0.49 VG
ER11-327 V16 172.00 177.00 5.00 0.37 0.51
ER11-328 V10 326.50 333.50 7.00 0.36 0.62 VG
ER11-330 170.50 177.00 6.50 1.47 1.31
198.00 201.50 3.50 0.78 1.62
266.00 273.00 7.00 0.70 0.81
ER11-331 Gap 72.50 88.00 15.50 0.55 0.59
incl. V18 84.50 88.00 3.50 1.76 2.01
V16 174.00 177.50 3.50 0.86 0.32
V12 302.50 311.00 8.50 1.50 0.70
490.00 491.00 1.00 12.21 11.34
ER11-332 V10 343.00 344.00 1.00 4.73 4.68 VG++
ER11-333 Gap 11.00 31.50 20.50 1.70 1.76
incl. V18 28.00 31.50 3.50 4.62 4.24 VG++
V12 136.20 141.70 5.50 0.31 0.56
295.70 297.20 1.50 4.91 3.71
ER11-335 Gap 95.50 104.00 8.50 3.97 4.78
V16 96.00 100.50 4.50 7.09 8.52 VG++
ER11-337 V20 59.00 67.00 8.00 1.71 1.71
incl. 62.00 63.50 1.50 7.65 8.34
V19 102.50 104.00 1.50 3.43 3.65
ER11-339 513.50 516.50 3.00 2.86 3.76
ER11-340 Gap V20 27.50 29.50 2.00 4.57 7.13 VG
ER11-341 V12 294.50 298.50 4.00 1.04 2.08
ER11-344 V10 317.50 328.00 10.50 0.80 0.70
ER11-345 Gap 178.00 184.00 6.00 1.96 2.51
ER11-346 VRC 52.50 61.00 8.50 4.41 4.37
57.00 61.00 4.00 8.21 7.66 VG
Holes 336,348 to 350 - assays pending.
Average 6.09 6.52 6.95
Max 25.50 60.49 88.75
Min 0.50 0.17 0.05
Notes: Chemical analysis was completed by ALS CHEMEX Laboratories using a 50-gram split and gravimetric techniques. Internal standards provided by an independent company and blank samples were inserted for quality control purposes. Assay samples are taken from HQ core, sawed in half along the core axis with one half sent to a commercial laboratory and the other half retained for future reference. Sample length approximates true thickness. Core samples are crushed and split with 1 kg pulverized for assay. Core samples containing visible gold were also analyzed by screen metallic methods. Screen metallic samples are screened to 100 microns. 50-gram splits are then fire-assayed using an AAS finish methods. Multiple screen metallic assays are pending. VG - visible gold. VG++ - core samples with 40 to greater than 100 grains of fine gold particles.
Table 2. Clearwater Project - 2011 Trench Assay Data
Target ID Channel ID Sample ID Easting
------------------------------------------------------------
Castor E489752 444,773
Castor E489775 444,898
Castor E489755 444,582
Boomerang CW15-5 E489804 445,315
Boomerang CW15-6 E489805 445,309
Boomerang CW15-8 E489811 445,301
Boomerang CW15-9 E489815 445,291
Boomerang CW15-10 E489817 445,302
Knight E490202 456,903
Knight E490204 456,903
Pascal L733075 443,575
850 West CW11-P2 L735521-522 443,974
850 West CW11-P2 L735523 443,973
850 West CW11-P2 L735524 443,975
850 West CW11-P2 L735525-526 443,974
850 West CW11-P2 L733028 443,947
850 West RC-1 L734519-521 444,011
850 West RC-2 L734528-536 444,019
850 West RC-3 L734537-563 444,018
incl. L734544-560
incl. L734559
850 West RC-4 L734564-573 444,017
incl. L734568-571
850 West RC-5 L734574-582 444,012
850 West RC-6 L734583-599 444,014
incl. L734586-592
850 West RC-7 L734600-603 444,013
Average
Table 2. Clearwater Project - 2011 Trench Assay Data
Northing Length (m) Au (g/t) Te (g/t) Vein ID
--------------------------------------------------------
5,785,341 grab 13.00 17.10 D Vein
5,785,189 grab 30.50 25.50
5,785,263 grab 10.15 21.80
5,785,296 0.50 6.89 8.63
5,785,297 0.50 6.91 7.82
5,785,299 1.00 17.30 20.50
5,785,299 0.50 9.42 10.40
5,785,287 0.50 10.25 6.84
5,781,819 grab 13.20 0.09
5,781,819 grab 17.40 0.13
5,784,907 grab 66.50 0.42
5,785,304 1.00 4.83 2.17
5,785,302 0.50 16.60 3.72
5,785,304 0.50 9.54 5.85
5,785,304 1.00 4.83 4.66
5,785,355 0.50 18.25 10.70
5,785,321 1.50 4.67 4.56 V10
5,785,319 4.50 8.00 1.86 V10
5,785,313 13.50 16.35 7.32 V10
8.50 23.99 9.92
0.50 268.00 121.00
5,785,309 5.00 6.49 1.40 V10
2.00 14.73 2.07
5,785,312 4.50 1.27 1.45 V10
5,785,307 7.50 8.40 3.55 V10
3.50 13.34 5.79 V10
5,785,303 2.00 10.51 3.09 V10
2.83 24.07 10.16
Contacts:
Eastmain Resources Inc.
Dr. Donald J. Robinson, President
(519) 940-4870
(519) 940-4871 (FAX)
Eastmain Resources Inc.
Catherine Butella, Exploration Manager
(519) 940-4870
(519) 940-4871 (FAX)
info@eastmain.com
www.eastmain.com