High-Grade Gold Triple Play: Exploration and Development in Central James Bay, Québec
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Eastmain Announces Closing of Offering
Toronto, Ontario, October 24, 2019 – Eastmain Resources Inc. (TSX:ER) (the “Company” or “Eastmain”) is pleased to announce that it has completed its previously announced private placement (the “Offering”) for aggregate gross proceeds of approximately C$2,
Eastmain Resources Upsizes Previously Announced Private Placement Financing to C$2.75 Million
Toronto, Ontario, October 22, 2019 – Eastmain Resources Inc. (TSX:ER, OTCQX:EANRF) (“Eastmain” or the “Company”) is pleased to announce that it intends to further upsize its previously announced non-brokered private placement (the “Offering”) to accommoda
Eastmain Resources Upsizes Previously Announced Private Placement Financing to C$2.5 Million
Eastmain is pleased to announce that it intends to upsize its previously announced non-brokered private placement (the “Offering”) to accommodate demand from shareholders (see news release dated October 9, 2019). The Offering has increased to an aggregate
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.