Friday, March 18, 2016

Eastmain Resources Inc. - ER.t

Eastmain Resources Inc. - ER.t is advancing the flagship Eau Claire gold deposit, located within the James Bay District of Quebec.

In October Eastmain was presented with the “Discovery of the Year 2015” award by the Association L’Exploration Minière du Quebec (“AEMQ”).

On February 4, 2016 the company released News

Eastmain Resources Inc. (“Eastmain” or the “Company”- TSX: ER) is pleased to provide an update on final assay results from the 2015 exploration program completed at its wholly-owned Clearwater Project, located in James Bay, Quebec. The 2015 program was successful in intersecting high-grade gold in drill intercepts lateral to the current resource. Infill core sampling of historical holes also provided positive results within the proposed 450 West Zone pit, and trench sampling two kilometres east of the Eau Claire gold deposit has outlined another potential pit-constrained resource target.

“We are very encouraged with the results of the 2015 exploration program. Definition drilling within the Eau Claire gold deposit, as exemplified by hole 577, continues to intersect both excellent grade and thicknesses lateral to the current Measured and Indicated mineral resources. Hundreds of anomalous rock samples have also defined drill-ready, near-surface targets two kilometres east of Eau Claire, while in-fill sampling of historical core will add a number of significant high-grade intersections to the 450 West Zone pit-constrained resource,” stated Donald Robinson, Eastmain’s President and CEO.

The 2015 drilling campaign focused on extending the Measured and Indicated gold resources in the Eau Claire gold deposit down-plunge and laterally to the east. Based on a 2.5 g/t Au cut-off grade, 26 gold-bearing composite intervals defined during the program have an average grade of 7.76 grams gold per tonne (from 2.54 to 25.6 g/t Au) over an average width of 2.73 metres, (from 2.0 to 6.0 metres), with 11 of those composites averaging 13.87 g/t gold over an average of 3.09 metres. Drill hole ER15-577 intersected a six-metre-wide composite interval grading 15.4 grams gold per tonne at a depth down-hole of 289.0 metres, including a half-metre-wide interval grading 153 grams gold per tonne (see website for assay data).

Five drill holes, with composite intervals extending down-plunge beyond the current limits of Eau Claire Measured and Indicated mineral resources, will clearly contribute to future mineral resource estimates. In addition, ER15-566 indicates that there is still potential to expand the deposit laterally to the east (see website for Eau Claire Longitudinal View).

A phase one $2.5 million exploration budget has been recommended at Clearwater to include completion of a preliminary economic assessment, definition drilling to expand Measured and Indicated mineral resources, and drill testing of near-surface resource targets located east of Eau Claire along a key structural corridor.