Eastmain and Partners Begin Winter Drilling Program at Éléonore South Project, James Bay Region, Québec
February 27 2018 - 6:30AM
Eastmain Resources Inc. (“Eastmain” or the “Company”) (TSX:ER)
(OTCQX:EANRF) announces the start of the Phase 2 diamond drilling
program on the Éléonore South Joint Venture (“ESJV”) Property.
Phase 2 is planned to complete approximately
5,100
m (29 holes). The results of Phase 1 (4,443 m in 18 holes)
were reported in a press release dated December 12, 2017. The
Éléonore South Property is adjacent to Goldcorp's Éléonore Gold
Mine in the James Bay region of Quebec (
Figure 1).
Phase 2 Drilling Objectives
(Figure 2)
Phase 2 will build on the success of drilling
and trenching programs conducted in 2017 by the ESJV, focussing on
two significant gold targets;
- Moni Trend: Test highly prospective targets
along a 1 km strike including the Moni Prospect and the 101
Prospect, drilling 2,200 m in
18 holes, including a closely spaced drill array
on the Moni Prospect to assess continuity of high-grade gold found
at surface as well as structural and deformational
elements.
- Contact Trend: Assess the grade and geometric
continuity between three sectors that returned significant gold
results by further tests of those sectors and infilling of untested
areas over a 1.5 km strike length near the southern contact of the
tonalite intrusion with metasediments, drilling 2,900 m
in 11 holes.
Updated Exploration Model and
Exploration Potential (Figures 3 and
4)
New information acquired on the Property over
the past 12 months has been systematically reviewed and integrated
into Phase 2 drill planning. Key results and interpretations point
toward a reduced intrusion-related deposit type
given the:
- Development of gold mineralized zones within the tonalitic
intrusion;
- Weak magnetic footprint;
- Low sulphide content (generally <0.5% aspy, py, po) and Bi,
W, Mo metal association;
- Free gold associated with large quartz-albite-(biotite)
stockwork zones;
- Extensive silica-albite alteration.
The late (2.61 billion year-old) tonalite is
interpreted to be a mushroom shaped intrusion with a 450 to 500 m
thick, roughly tabular top having a shallow to moderate dip to the
south along its southern contact and a moderate dip to the west
along its western contact (JT Prospect area). The current
interpretation suggests the intrusion has not been overturned. The
Contact Trend is interpreted to represent a decompression stockwork
zone close to the top of the intrusion. This mineralized zone may
extend downwards, parallel to, and below, the contact with the
overlying metasedimentary country rocks.
This geometric model also provides a
strengthened interpretation for the source of mineralization
located in the surrounding metasedimentary rocks. The
sediment-hosted JT Prospect gold mineralization, located to the
west of the Moni and Contact Trend targets, is found immediately
above the W dipping tonalite intrusion. This interpretation
presents metasedimentary rocks overlying the tonalite elsewhere
along the intrusion border as good exploration targets.
Additionally, the lower contact of this thin, shallow dipping
intrusion remains untested by the ESJV.
Previous Exploration Highlights
(Figures 5 to 10)
Drilling on the Property since September 2016
(9,686 m in 44 holes), along with detailed
prospecting, mechanical stripping and channel sampling have
generated significant success, including:
- The delineation of a major intrusion-hosted gold-bearing
corridor 4 km long by 600 m wide, which extends onto the adjacent
Cheechoo property to the NE (Sirios Resources Inc.)
- The identification of two parallel trends striking NE-SW within
the corridor, characterized by a low magnetic footprint and strong
gold-arsenic soil anomalies:
- The Moni Trend, characterized by a high-grade
deformed quartz-feldspar (pegmatitic) vein system in tonalite; best
results include 79.5 g/t Au over 5.87 m (channel
sample, Moni Prospect), 101 g/t Au (outcrop grab
sample, 101 Prospect) and 1,500 g/t Au (angular
boulder, Trench Prospect);
- The Contact Trend, characterized by highly
altered gold-bearing zones in tonalite with intervals which can
average more than 0.5 g/t Au over up to 60 m intervals, developed
near the contact with overlying metasedimentary rocks; best results
include 4.9 g/t Au over 45.0 m (hole ES17-64);
1.46 g/t Au over 45.5 m (hole ES17-77),
6.13 g/t Au over 9.0 m (hole ES17-80) and
3.15 g/t Au over 24.0 m (ES17-88).
- Improvement of exploration model by incorporation of
gold-bearing vein systems in sedimentary sequences in the hanging
wall of the tonalite intrusion
About the Eleonore South Joint Venture
Property
The Éléonore South Property is being explored as
a three-way Joint Venture between Eastmain Resources Inc. (36.7%),
Azimut Exploration Inc. (TSX.V:AZM) (26.6%), and Goldcorp Inc.
(TSX:G) (NYSE:GG) (36.7%). Azimut is the operator of the current
program under the supervision of Dr. Jean-Marc Lulin and the field
direction of François Bissonnette, both professional geologists and
qualified persons under National Instrument 43-101. This press
release and information provided by Azimut, was reviewed by William
McGuinty, P. Geo., Eastmain’s VP Exploration and a Qualified Person
under National Instrument 43-101.
To view FIGURES 1–10, please
click on the following link:
http://www.eastmain.com/_resources/news/Images/ER-ESJV-02262018.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.
For more
information:
Claude Lemasson, President and CEO+1
647-347-3765lemasson@eastmain.com
Joseph Fazzini, CFO and VP Corporate
Development +1 647-347-3735fazzini@eastmain.com
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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