News

Eastmain Drilling Intersects High Grade Schist Veins Returning up to 8.31 g/t Au over 13.3 m

Toronto, Ontario, March 6, 2017 - Eastmain Resources Inc. (“Eastmain” or the “Company”- TSX:ER) is pleased to announce new infill drilling assay results from its ongoing 63,300 m drill program at its 100%-owned Clearwater Project, located in James Bay, Québec (see FIGURES 1-4). Reported results are from the Eau Claire gold deposit.

Eastmain is reporting on assay results from 19 drill holes (6,135 m), which continue to establish continuity while testing the limits of an open pit and shallow underground mining concept. A total of 94 exploration and infill drill holes totalling (28,535 m) have been reported to date, with approximately two-thirds (44,500 m) of our planned drill program now complete. Assays are pending on 48 holes. Drilling continues within the deposit with 5 rigs on site. Completion of the drill program is expected in early Q2/2017.

William McGuinty, Eastmain’s VP Exploration commented, “We’re pleased with the assay data demonstrating continuity of the underground potential of the deposit, particularly between 200 - 300 m depth. In particular, we’re encouraged by our new understanding of two high grade schist veins (“HGS”), HGS-02 and HGS-04, which are believed to be an early ESE trending vein system in the deposit, later cross-cut by extensive east-west trending gold bearing quartz-tourmaline veins. These HGS veins stand out due to their broad widths, high grades and identifiable continuity.”

He continued, “With the final leg of our drill program now underway, Eastmain intends to focus on further defining the lateral and vertical extent of these broad HGS veins in conjunction with the narrower en-echelon vein sets and continue to further define consistency of mineralization within the deposit.”

Highlights from Eau Claire intercepts with visible gold include:

ER17-674        8.31 g/t Au over 13.3 m, incl. 11.4 g/t Au over 8.8 m, and 4.28 g/t Au over 2.3 m at a vertical depth of 233 m

11.4 g/t Au over 2.5 m, incl. 45.5 g/t Au over 0.5 m at a vertical depth of 245 m

ER16-666        8.95 g/t Au over 4.6 m, incl. 20.4 g/t Au over 1.8 m at a vertical depth of 296 m

ER16-658        5.6 g/t Au over 11.3 m, incl. 11.9 g/t Au over 2.3 m and incl. 7.82 g/t Au over 3.9 m, at a vertical depth of 366 m

ER17-681        3.02 g/t Au over 11.0 m, incl. 4.48 g/t Au over 6.0 m at a vertical depth of 122 m

The focus of the 2016/early 2017 drill program, consisting mainly of infill drilling, is to generate additional data to:

  • expand our understanding of the mineralizing controls at Eau Claire
  • confirm our current geological interpretation and test the limits of mineralized envelope 
  • improve drill spacing to show continuity between veins and increase overall confidence in the deposit

To date, the program has been successful in defining grades and establishing continuity characteristic of Eau Claire’s current resource model. This enhanced understanding is expected to play a key role in supporting a Preliminary Economic Assessment (“PEA”) expected around year-end.

A short summary of selected high grade assay results from Eau Claire are presented in Table 1 below and a more complete summary of significant results is available by following the link to TABLE 2.

TABLE 1: Highlights from Eau Claire Drilling Results

Drill Hole

From

To

Interval(1)

Gold Assay(2)

Vertical Depth(3)

Interpreted Zone

ER16-658

341.6

342.1

0.5

20.6

296

450W

381.8

393.1

11.3

5.60

336

incl. 381.8

384.1

2.3

11.9

 

with 383.5

384.1

0.5

34.6

 

and incl. 389.2

393.1

3.9

7.82

 

with 390.0

390.6

0.6

16.8

 

and incl. 392.1

393.1

1.0

17.3

 

433.0

435.0

2.0

8.49

376

ER16-666

323.8

328.0

4.3

5.37

274

450W

incl. 323.8

325.4

1.7

8.94

 

350.0

354.6

4.6

8.95

296

incl. 350.0

350.8

0.8

19.4

 

and 352.8

354.6

1.8

20.4

 

ER16-668

327.4

328.3

0.9

20.6

281

450W

346.8

348.3

1.5

9.93

298

 

ER16-669

251.0

252.0

1.0

23.6

225

450W

ER16-671

65.9

67.2

1.3

15.8

46

450W

incl. 66.4

67.2

0.8

23.2

 

ER17-672

105.6

106.6

1.0

4.05

80

450W

 

118.4

119.9

1.5

6.80

90

incl. 118.9

119.4

0.5

19.2

 

ER17-673

352.0

357.9

5.9

3.63

315

450W

incl. 352.6

354.0

1.4

9.12

 

ER17-674

313.5

326.8

13.3

8.31

233

450W

incl. 313.5

315.8

2.3

4.28

 

incl. 318.0

326.8

8.8

11.4

 

335.2

337.7

2.5

11.4

245

incl. 335.7

336.2

0.5

45.5

 

ER17-681

134.0

138.4

4.4

2.59

93

450W

incl. 134.0

134.5

0.5

11.8

 

and 137.4

138.4

1.0

5.50

 

174.0

185.0

11.0

3.02

122

incl. 179.0

185.0

6.0

4.48

 

and 183.5

185.0

1.5

8.80

 

ER17-690

374.6

375.1

0.5

16.7

353

450W

ER17-692

238.3

239.3

1.0

6.76

196

450W

incl. 238.3

238.8

0.5

10.5

 

306.5

310.0

3.5

2.64

249

incl. 307.0

309.0

2.0

4.08

 

  1. Intervals are presented in core length; true width will vary depending on the intersection angle of the hole with the targeted zone.  Holes are generally planned to intersect vein structures as close to perpendicular as possible and true widths are estimated to be 75%-85% of downhole widths.
  2. For known mineralized zones, intervals are based on geological observations and limited compositing of veins.  Assays presented are not capped.  Intercepts occur within geological confines of major zones but have not been correlated to individual vein domains at this time.
  1. Vertical depth is measured from the surface to the mid-point of the reported interval.

DRILLING RESULTS - EAU CLAIRE

Drilling completed and reported herein focused on the 200-300 m vertical depth range across the deposit and supports continuity in the two HGS vein domains intersected. Similar to the east-west trending, high-grade gold veins identified at Eau Claire, the HGS veins also host high-grade, gold mineralization. However, the HGS veins differ due to their extensive alteration widths and their particular east-southeast trend. The HGS-02 and HGS-04 veins consist of wide ESE trending corridors of sheared and altered, gold-bearing metavolcanic rock. The zones are parallel to the host rock foliation and are interpreted to parallel the southern or hanging-wall boundary of the deposit.

On the HGS-02 vein, the results show continuous mineralization over 100 m of strike length, within a broader vein extent of approximately 350 m along strike and 339 m of dip extent. Interpreted intercepts of the HGS-02 vein were identified in holes ER17-674 (8.31 g/t Au over 13.3 m), ER16-658 (5.6 g/t Au over 11.3 m), ER16-666 (8.9 g/t Au over 4.6 m) and ER16-668 (9.93 g/t Au over 1.5 m).

Drilling on the HGS-04 vein currently demonstrates 300 m of strike length continuity, within a broader strike extent of 650 m and dip extent of 310 m. Interpreted intercepts of the HGS-04 vein are reported from east to west at approximately 300 m depth in holes ER16-666 (5.37 g/t Au over 4.3 m) and ER17-673 (9.1 g/t Au over 1.4 m); and at 50 to 100 m depth in holes ER16-670 (4.5 g/t Au over 0.5 m); ER16-671 (15.8 g/t Au over 1.3 m) and ER16-665 (8.6 g/t Au over 0.6 m).

Holes ER17-672, ER17-675, ER17-677, and ER17-679 tested shallow veins in the central area of the Eau Claire deposit intersecting interpreted infill intercepts for veins HGS-03, HGV-01, B and C.

Holes ER16-665, ER-670 and ER-671 continue to explore the eastern edge of the deposit with shallow holes extending the interpreted HGS-04 vein by approximately 25 m up-dip from previous intersections on their respective sections.

GOLD MINERALIZATION - EAU CLAIRE

Gold mineralization at the Eau Claire gold deposit is generally located within structurally-controlled, high-grade en-echelon quartz-tourmaline veins and adjacent altered rocks. The vein system is predominantly hosted within a thick sequence of massive and pillowed mafic volcanic flows, interbedded with narrow intervals of volcaniclastic sedimentary rocks. Both flows and sediments have been intruded by multiple phases of felsic and porphyry dykes. Host rocks have been folded and deformed (sheared) through several deformation events. The gold bearing veins may occur as thin fracture fill with tourmaline and develop along an easterly strike and a southerly dip (450W zone) into thick quartz-tourmaline veins with zoned tourmaline+/-actinolite+/-biotite+/-carbonate alteration halos which can measure up to several metres in thickness.

SRK Consulting (Canada) Inc. (“SRK”) completed “Technical Report and Mineral Resource Estimate for the Eau Claire deposit”, which reported Measured and Indicated Mineral Resources of 7.225 Million tons grading 4.09 g/t Au (951,000 ounces) of gold and Inferred resources of 3.88 Million tons grading 3.88 g/t Au (633,000 ounces) of gold. The report has an effective date of April 27, 2015 and is filed on Eastmain’s SEDAR profile dated June 11, 2015.

Table 3: Hole Location Information

Target Zone

Drill Hole

Azimuth

Inclin.

UTM Coordinates Zone 18

Total Length

Elevation

 

Number

Deg.

Deg.

Easting

Northing

(m)

(m)

450W

ER16-658

355

-62

444,626

5,784,895

447

264

450W

ER16-664

355

-75

445,307

5,784,840

501

269

450W

ER16-665

355

-45

444,905

5,785,240

201

301

450W

ER16-666

355

-58

444,677

5,784,891

423

263

450W

ER16-668

355

-61

444,702

5,784,891

402

265

450W

ER16-669

355

-67

445,006

5,784,836

330

266

450W

ER16-670

355

-45

444,830

5,785,236

213

295

450W

ER16-671

355

-45

444,879

5,785,252

150

300

450W

ER17-672

355

-49

444,685

5,785,151

204

290

450W

ER17-673

355

-65

444,981

5,784,844

402

262

450W

ER17-674

355

-52

444,727

5,784,890

417

266

450W

ER17-675

355

-45

444,760

5,785,156

201

296

450W

ER17-676

355

-72

444,906

5,784,839

378

262

450W

ER17-677

355

-50

444,688

5,785,101

231

283

450W

ER17-679

355

-53

444,664

5,785,090

249

282

450W

ER17-680

355

-53

444,393

5,785,007

399

277

450W

ER17-681

355

-47

444,787

5,785,121

225

292

450W

ER17-690

355

-50

444,652

5,785,275

393

291

450W

ER17-692

355

-58

444,491

5,785,039

369

280

The design of the Eastmain Resources’ drilling programs, Quality Assurance/Quality Control and interpretation of results is under the control of Eastmain’s geological staff, including qualified persons employing a strict QA/QC program consistent with NI 43-101 and industry best practices. The Clearwater project is supervised by Eastmain’s Project Geologist, Michel Leblanc P. Geo.

Drill core is logged and split with half-core samples packaged and delivered to ALS Minerals laboratory.  Samples are dried and subsequently crushed to 70% passing a 2 mm mesh screen. A 1,000 gram subsample is pulverized to a nominal 85% passing 75 micron mesh screen. The remaining crushed sample (reject) and pulverized sample (pulp) are retained for further analysis and quality control. All samples are analysed by Fire Assay with an Atomic Absorption (AA) finish using a 50 gram aliquot of pulverized material. Assays exceeding 5 g/t Au are re?assayed by Fire Assay with a Gravimetric Finish. Eastmain regularly inserts 3rd party reference control samples and blank samples in the sample stream to monitor assay performance and performs duplicate sampling at a second certified laboratory. For 2016, approximately 10% of samples submitted are part of the Company’s laboratory sample control protocols.

This press release was compiled 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 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

+1 647-347-3765

lemasson@eastmain.com

Alison Dwoskin, Manager Investor Relations

+1 647-347-3735

dwoskin@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.