News

Eastmain Drills Multiple Intercepts along HGS-02 Vein at Eau Claire; including 7 g/t Au over 36 m and 15 g/t over 6 m

July 27, 2017

Toronto, Ontario, July 27, 2017 - Eastmain Resources Inc. (“Eastmain” or the “Company”- TSX:ER, OTCQX:EANRF) is pleased to announce assays from 11 drill holes (5,698 m) from its 10,000 m drilling program at the Eau Claire gold deposit, located in James Bay, Québec (see FIGURES 1-4). The Company’s 100%-owned Clearwater Project hosts the Eau Claire gold deposit.

Drilling Highlights Include:

  • ER17-776 – Drilled along High-Grade Schist (HGS)-02 vein over 143 m and includes multiple major intercepts:
    • 6.25 g/t Au over 4.5 m, including 9.36 g/t Au over 1.5 m
    • 15.3 g/t Au over 6.0 m, including 41.6 g/t Au over 2.0 m
    • 3.98 g/t Au over 8.3 m, including 8.70 g/t Au over 2.5 m
    • 7.09 g/t Au over 35.8 m, including 9.23 g/t Au over 13.7 m, and including 12.8 g/t Au over 4.5 m
  • ER17-774 - 30.8 g/t Au over 4.1 m
    • Intersected an HGS vein at 529 m depth, located 300 m below and down-dip from the nearest HGS vein
    • Represents either a new HGS vein at depth, or an extension of a known HGS vein at depth and to the east

Claude Lemasson, Eastmain President and CEO, commented, “Recent drilling focused on the HGS veins is exceeding our expectations. With the combination of broad intervals extending mineralized structures and grades exceeding the current resource grade, the HGS veins have added a new dimension to Eau Claire. In addition, intersecting an HGS vein 300 m below the last known HGS vein is consistent with our interpretation that the vein system plunges steeply SE. Our exploration team will continue to target areas that will benefit both the future growth and development of the Eau Claire deposit.”

The current 10,000 m program was initiated to further define three important resource objectives:

  • HGS Veins:
    • To demonstrate continuity of the HGS Veins with several oblique, shear parallel holes
    • Successful intersections will provide greater understanding of the HGS mineralization and help outline future drilling targets
  • Deep Domain Exploration:
    • To further develop and improve vein continuity within portions of the Deep Vein Swarm Domains identified in the 2015 Eau Claire mineral resource estimate
    • Holes in these domains are principally within the 400 m to 700 m depth range, targeting drill spacing of 50-75 m from historic holes
  • Additional targets
    • As defined from current interpretations which may expand the mineral resource envelope

Eastmain intends to provide the results from the 10,000 m program to SGS Geostat for inclusion in the new mineral resource. The upcoming report will define a potential open pit and shallow underground mineral resource and is on track to be delivered in Q3 2017.

A summary of selected high grade assay results from this drilling are presented in Table 1 below. TABLE 2 represents the complete set of significant results.

TABLE 1: Highlights from Eau Claire Drilling Results

Type

Drill Hole

From

To

Interval

Gold Assay

Vertical

Zone

   

(m)

(m)

(m)(1)

(g/t Au)(2)

Depth (m)(3)

 

HGS (down plunge)

ER17-776

172.0

172.5

0.5

21.3

127

450W

235.1

238.7

3.6

2.85

174

incl. 235.1

237.1

2.0

4.24

260.8

265.3

4.5

6.25

193

incl. 261.8

263.3

1.5

9.36

291.0

297.0

6.0

15.3

215

incl. 291.0

293.0

2.0

41.6

318.3

326.6

8.3

3.98

236

incl. 318.3

320.8

2.5

8.70

345.2

381.0

35.8

7.09

265

incl. 353.8

367.5

13.7

9.23

and incl. 360.3

363.8

3.5

19.5

incl. 370.5

372.0

1.5

12.8

incl. 373.5

378.0

4.5

8.65

HGS (down plunge)

ER17-770

279.0

280

1.0

35.8

205

450W

HGS (down plunge)

ER17-773

86.6

92.8

6.2

2.70

66

450W

incl. 87.6

89.6

2.0

8.45

66

229.0

230.0

1.0

9.04

168

262.0

262.5

0.5

31.7

192

Deep Domain

ER17-774

570.5

574.6

4.1

30.8

529

450W

Infill

ER17-753

28.1

38.0

9.9

1.11

26

850W

incl. 37.0

38.0

1.0

3.26

  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 perpendicular as possible and true widths are
    estimated to be 75%-85% of downhole widths with the exception of holes 770, 773 and 776 from which true width cannot be determined.
  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.
  3. Vertical depth is measured from the surface to the mid-point of the reported interval.

High Grade Schist (HGS) Exploration

Drill hole ER17-776 targeted the HGS-02 vein in the centre of the 450W area of the deposit by drilling into and along the HGS structure (FIGURES 2-3). After intersecting 21.3 g/t Au over 0.5 m in a QT vein, the hole encountered 5 significant mineral intercepts along the HGS-02 vein beginning at a hole depth of 235 m, finally exiting at 378 m. The intervals demonstrate a close spatial relationship to the wire frame developed for HGS-02 vein, confirming mineral continuity along the vein. The drill hole successfully targeted an area of significant HGS-02 intervals from previous drill holes ER13-512 (8.44 g/t Au over 16 m), ER16-597 (5.06 g/t Au over 5 m), ER17-674 (8.31 g/t Au over 13.3 m) and ER16-584 (11.5 g/t Au over 13.5 m).  The longest sustained ER17-776 interval along the vein returned 7.09 g/t Au over 35.8 m, located close to the previously mentioned section holes. Several mineralized intercepts in hole ER17-776 also occur near potential intersection points between the HGS-02 vein and several QT veins.

Hole ER17-773 intersected 35.8 g/t Au over 1.0 m, an interpreted QT vein, in an attempt to explore the expected convergence of HGS-02 and HGS-04 vein.

Hole ER17-770 attempted to drill within the plane of the HGS-02 vein along a steeper orientation. The hole intersected narrow QT vein, but appears to have paralleled the HGS-02 structure in its footwall.

Deep Domain Exploration (400 m – 700 m depth)

Hole ER17-774 (FIGURE 4) intersected an HGS vein, grading 30.8 g/t Au over 4.1 m at a vertical depth of 529 m, approximately 300 m below and down dip of the nearest interpreted HGS vein. As modelled, the vein is hosted within metavolcanics located within the Quartz-Feldspar Porphyry (hanging wall) and Volcaniclastic Sediment (foot wall) bounded structural corridor, suggesting the potential for the vein system, including the previously un-modelled HGS veins to continue at depth. A review of historic (2003-2009) drill core will be initiated in nearby holes, testing for potentially un-sampled HGS mineralization. Additional drilling in this area is currently being planned.

Hole ER17-772 targeted a Deep Domain Zone defined by ER03-29, which reported several mineralized intercepts, including 18.0 g/t Au over 1.5 m at a vertical depth of 547 m, and in hole ER02-06 including 20.0 g/t Au over 1.5 m at a depth of 534 m. Hole ER17-772 intersected the predicted Deep Domain target at 60 m down dip from ER03-29, reporting several narrow intervals of quartz-tourmaline veining with low results.

The deep holes are using NQ diameter drill rods. This will enable follow-up infill drilling to be accomplished through a drill hole wedging campaign to improve targeting of proposed infill intercepts.

Additional Exploration Drilling

Six holes reported tested various areas at Eau Claire including; 2 additional infill holes testing the 450W and 850W Zone; 2 holes testing for shallow satellite mineralization to the northeast of the 450W zone and; 2 exploration holes testing the volcanic stratigraphy between Eau Claire and the Snake Lake Prospect as part of a proposed fence of holes to test for new vein mineralization and assist with mapping the geology between the two areas.

Hole ER17-753 intersected 2 QT veins in the 850W zone within 50 m of surface, including one of 9.9 m interval of 1.11 grams.

Hole ER17-768 tested a deep target in an area where the 450W zone is believed to trend beneath the 850W zone. 4 narrow QT vein intervals ranging from 1.29 g/t Au over 1.0 to 6.8 g/t Au 0.5 m were intersected. Further testing of this area will be considered once resource estimation is complete.

Holes ER17-765 and ER17-767 tested a portion of the stratigraphy midway between Eau Claire and Snake Lake Prospect as part of a fence of holes to map structure and geology in the area linking these two mineralized zones. Gold mineralization was limited to 0.5 to 1.0 m intercepts of QT vein mineralization ranging to 2.95 g/t Au.

Holes ER17-751 and ER17-761 tested an area of the Eau Claire deposit NE of the 450W zone where stripping had previously exposed QT veining at surface. One interpreted extension of a surface vein was encountered at 15 m depth (2.44 g/t Au over 0.5 m) in hole ER17-761.

Table 3: Hole Location Information

Target Zone

Drill Hole

Azimuth

Dip

UTM Coordinates Zone 18

Total Length

Elevation

 

Number

Degrees

Degrees

Easting

Northing

(m)

(m)

850 West

ER17-753

40

-50

444,038

5,785,282

90

307

450 West

ER17-751

355

-50

445,256

5,785,238

603

306

450 West

ER17-761

355

-45

445,332

5,785,235

177

306

450 West

ER17-768

355

-55

444,100

5,785,000

585

310

450 West

ER17-770

231

-45

444,934

5,785,276

675

301

450 West

ER17-772

348

-70

444,520

5,784,549

757

268

450 West

ER17-773

225

-45

444,892

5,785,343

684

301

450 West

ER17-774

355

-73

445,115

5,784,579

708

259

450 West

ER17-776

257

-46

444,993

5,785,165

585

314

Fence

ER17-765

360

-45

446,107

5,784,679

405

271

Fence

ER17-767

360

-45

445,939

5,784,917

429

279

Please see Eastmain press release dated July 13, 2017 or the Company’s 2016 AIF, filed on www.sedar.com under the company’s profile, for a description of data verification and QA/QC procedures.

This press release was compiled and reviewed by William McGuinty, P. Geo., Eastmain’s VP Exploration and Qualified Person under National Instrument 43?101.

To view FIGURES 1–5, please click on the following link: www.eastmain.com/_resources/news/Images/ER-170727-Fig1-4.pdf

To view TABLE 2, please click on the following link: www.eastmain.com/_resources/news/Images/ER-170727DrillTable.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
+1 647-347-3765
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.