High-Grade Gold Triple Play: Exploration and Development in Central James Bay, Québec
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Eastmain Resources Announces C$2.0 Million Non-Brokered Private Placement
Toronto, Ontario, February 21, 2020 – Eastmain Resources Inc. (TSX: ER, OTCQX: EANRF) (“Eastmain” or the “Company”) is pleased to announce a non-brokered private placement for gross proceeds up to C$2,000,000 of securities of the Company, subject to incre
Eastmain Completes Drilling Program at KS Horizon, Clearwater
Eastmain a gold exploration and development company operating in Eeyou Istchee, James Bay, Quebec, reports the completion of its fall 2019 20-hole drill program (5,152 m in total) with results from 13 (thirteen) holes (3,654 m) at the Company’s 100%-owned
Toronto, Ontario, December 6, 2019 – Eastmain Resources Inc. (TSX:ER) (the “Company” or “Eastmain”) announces the appointment of Blair Schultz as Interim President and Chief Executive Officer, effective immediately. Mr. Schultz has been a director of the
Québec's Central James Bay: Emerging Gold District with Available Infrastructure
Eastmain’s total land holding of 109,000 hectares, is located in the James Bay area of Québec with available infrastructure and several operations nearby. The Company is focused on pre-development activities at its Eau Claire open pit and underground project while concurrently exploring the broader exploration targets on the Clearwater Property. Clearwater is host to the Percival discovery (November 2018), and is the focus of the majority of Eastmain’s exploration efforts. Rounding out the triple play, Eastmain is also focused on the continued exploration of the Moni and Contact Trend discoveries on the Éléonore South Joint Venture Property, a large land package adjacent to the region’s largest gold mine.
Eau Claire Project
Robust PEA Announced May 2018
The Eau Claire project has an IRR of 27%, and NPV 5% of $260 million and a 12 year mine life defined in an open pit and underground scenario.
Discovered in November 2018, Eastmain is focused on the new Percival Discovery and the KS Horizon. The KS Horizon extends from the Knight to the Serendipity targets and is a major geological feature that will be the subject of exploration for the next few years.
A large gold exploration target extending 5 km x 0.5 km along the tonalite and metadesiment contact. In 2017, the Moni and Contact Trends were discovered and have since been the main focus of exploration activity.