Eastmain Resources Inc. (“Eastmain” or the
“Company”) (TSX:ER) (OTCQX:EARNF) is pleased to announce the
receipt of assay results from 32 drill holes totalling 5,449 m
completed during the winter drilling campaign at the Éléonore South
Joint Venture (ESJV) Property (Eastmain-Goldcorp-Azimut). This
phase completes the H2/2017-H1/2018 diamond drilling program of 50
holes for a total of 9,892 m. Located in the James Bay region of
Quebec, Eleonore South is adjacent to the property that hosts the
Éléonore gold mine owned and operated by Goldcorp (see Figure 1).
Surface exploration and diamond drilling on the
Éléonore South property since 2016 (76 holes totalling 15,134 m)
have uncovered a large gold-bearing system
extending least 2 km in length and 600 to 700 m in width, within
a tonalite intrusion in close proximity to the
contact with overlying metasedimentary rocks containing:
- A mineralized envelope with consistently anomalous gold values
ranging from 50 ppb to 900 ppb with multi-metre intervals ranging
to 0.5 g/t Au characterized by the appearance of one or several
networks of quartz veins and veinlets, strong sodic alteration,
very low sulphide concentrations (<0.5%) and frequent visible
gold grains (“Contact Trend”);
- Several high-grade zones characterized by; a) clusters of
quartz-albite-biotite stockworks accompanied by arsenopyrite,
pyrrhotite, pyrite, scheelite and visible gold, and b)
quartz-feldspar pegmatitic vein systems with visible gold (“Moni
Trend”).
The JT Prospect is a sediment-hosted
gold-bearing zone discovered in 2006 situated in stratigraphy at
the contact with the tonalite intrusion, 2.5 km to the west of
current exploration. Results from 2008 drilling indicate that the
tonalite is also mineralized in this area. The JT Prospect and
related stratigraphy near the tonalite contact extends the highly
prospective zone to a semi-circular shape of approximately 5.5 km
in length with considerable upside exploration potential.
Table 1 below reports highlights of the winter
drilling campaign. Table 2 provides additional assay results. Table
3 provides drill hole location data. See Figure 2 and Figure 3 for
location of drill holes.
Table 1: Highlights from 2018 Drilling
Results(1),(2),(3)
Target |
Drill Hole |
From |
To |
Interval |
Assay |
Vertical |
|
|
(m) |
(m) |
(m)(1) |
(g/t Au)(2) |
Depth (m)(3) |
Moni Prospect |
ES18-092a |
6.3 |
9.2 |
2.9 |
5.70 |
5.0 |
Moni Prospect |
ES18-093 |
7.7 |
11.9 |
4.2 |
3.80 |
8.6 |
|
|
9.8 |
10.4 |
0.7 |
incl. 20.1 |
8.8 |
Moni Prospect |
ES18-095 |
20.5 |
23.0 |
2.5 |
13.6 |
14.0 |
|
|
20.5 |
21.5 |
1.0 |
incl. 33.0 |
13.6 |
Moni Prospect |
ES18-098 |
8.1 |
16.5 |
8.4 |
8.56 |
7.9 |
|
|
8.9 |
9.8 |
1.0 |
incl. 71.4 |
6.0 |
Moni Prospect |
ES18-099 |
11.2 |
19.0 |
7.8 |
2.58 |
13.1 |
|
|
13.8 |
14.7 |
0.9 |
Incl. 17.4 |
12.3 |
Moni Prospect |
ES18-100 |
14.0 |
21.0 |
7.0 |
42.4 |
16.9 |
|
|
17.0 |
18.0 |
1.0 |
Incl. 294.0 |
16.9 |
Moni Prospect |
ES18-101 |
143.5 |
147.0 |
3.5 |
6.06 |
107.7 |
|
|
145.5 |
147.0 |
1.5 |
Incl. 13.6 |
108.4 |
Moni Trend |
ES18-102 |
64.0 |
69.0 |
5.0 |
1.68 |
50.9 |
|
|
133.9 |
134.4 |
0.6 |
15.7 |
102.7 |
Contact Trend |
ES18-108a |
208.0 |
241.5 |
33.6 |
1.12 |
194.9 |
|
|
231.0 |
232.5 |
1.5 |
Incl. 18.5 |
201.1 |
Contact Trend |
ES18-109 |
147.9 |
151.5 |
3.6 |
1.69 |
130.1 |
|
|
171.0 |
201.0 |
30.0 |
0.65 |
162.3 |
Contact Trend |
ES18-110 |
|
|
|
|
|
Contact Trend |
ES18-111 |
267.3 |
276.6 |
9.4 |
1.41 |
210.5 |
|
|
271.1 |
276.6 |
5.6 |
Incl. 2.18 |
211.8 |
Contact Trend |
ES18-112 |
108.2 |
151.6 |
43.4 |
0.71 |
102.7 |
|
|
119.7 |
139.0 |
19.3 |
Incl. 1.17 |
102.3 |
|
|
137.0 |
138.0 |
1.0 |
Incl. 10.2 |
108.7 |
Contact Trend |
ES18-113 |
50.5 |
53.5 |
3.0 |
2.18 |
48.9 |
|
|
52.2 |
53.0 |
0.8 |
Incl. 7.22 |
49.4 |
|
|
152.0 |
161.9 |
9.9 |
1.13 |
142.7 |
|
|
152.0 |
153.0 |
1.0 |
Incl. 5.92 |
138.7 |
Moni Trend |
ES18-118 |
284.6 |
309.7 |
25.1 |
0.64 |
217.9 |
Moni Trend |
ES18-119 |
165.5 |
167.0 |
1.5 |
10.4 |
121.7 |
Contact Trend |
ES16/18-51ext |
180.9 |
324.0 |
143.1 |
0.57 |
180.8 |
|
|
180.9 |
184.9 |
4.0 |
incl. 5.00 |
127.6 |
|
|
180.9 |
181.9 |
1.0 |
with 14.1 |
126.4 |
|
|
228.5 |
257.0 |
28.5 |
incl. 0.81 |
173.4 |
|
|
248.3 |
254.9 |
6.7 |
with 1.16 |
180.1 |
|
|
253.8 |
254.9 |
1.2 |
incl. 2.99 |
182.3 |
|
|
312.2 |
324.0 |
11.8 |
Incl. 0.60 |
231.3 |
Notes: (1) Intervals are presented in core
length; true width will vary depending on the intersection angle of
the hole with the targeted zone, (2) Assays presented are not
capped. (3) Vertical depth is measured from the surface to the
mid-point of the reported interval.
Technical Comments
The Moni Trend has been drilled
with 20 holes totalling 2,351 m, including 12 holes totalling 754.8
m at the Moni Prospect. This includes the extension of hole ES16-48
by 107 m (final depth of hole ES18-48ext; 258 m) and one abandoned
hole (ES18-92 at 14.6 m). The northeast-striking Moni Trend is
hosted in the tonalite intrusion, about 500 m from the
metasedimentary contact.
The results of the closely spaced holes on the
Moni Prospect (see Figures 5 and 6) indicate good geometric
continuity for the northeast-striking quartz-feldspar pegmatitic
vein system to a tested depth of 40 m below surface and along a 60
m strike length. The best results include 42.4 g/t Au over
7.0 m (hole ES18-100), 8.56 g/t Au over 8.4
m (hole ES18-98) and 13.6 g/t Au over 2.5
m (hole ES18-95). These drill results correlate well with
channel sampling results obtained above these intersections
returning up to 79.5 g/t Au over 5.87 m and
79.6 g/t Au over 4.25 m (see press release of
October 17, 2017). Variable and locally very high gold values
intersected in these veins are related to the presence of visible
gold whose distribution within the vein and vein intercepts can
vary greatly. Several holes testing the Moni Prospect also
intersect a brittle post-mineralization fault causing strong
fragmentation and local core loss within some of the gold-bearing
pegmatitic veins.
Despite the grade variability attributed to
distribution of visible gold, the 60 m by 40 m dense drilling test
below known surface mineralization was a useful tool for
establishing the potential for continuity of gold mineralization in
a Moni Type vein system. The results increase the confidence for
successful drilling of similar veins. Future surface work,
including trenching, along the Moni Trend will be undertaken to
identify new vein exposures where targeted ‘postage stamp’ drill
grids can test for continuity. Such tests will improve the
understanding of the structure and dimension of these high-grade
veins and assist with drill program design to quantify Moni Type
veins at the scale of the tonalite intrusion.
Drilling along the Moni Trend returned
encouraging values that may indicate multiple subparallel
high-grade veins within a 200 m wide corridor to the southwest from
the Moni Prospect including;
- 6.05 g/t Au over 3.5 m (hole ES18-101)
- 15.7 g/t Au over 0.55 m (hole ES18-102)
- 10.4 g/t Au over 1.5 m (hole ES18-119)
The Moni-type vein systems at the Moni Prospect
and within the currently defined Moni Trend remain open at depth
and laterally and warrant additional drilling.
The Contact Trend was drilled
with 12 holes totalling 3,097 m during the winter program. This
includes the extension of hole ES16-51 by 117 m (final depth of
ES18-48ext, 366 m) and one abandoned hole (ES18-108 at 57.0 m).
Drilling confirms the presence of consistent gold mineralization
along a zone at least 1.2 km long and 150 to 300 m wide, adjacent
to the tonalite - metasedimentary contact. The recent drilling
further corroborates geometric continuity of gold mineralization
identified within three drill hole clusters in 2017. These zones
remain and open down dip and along strike. From northeast to
southwest, the clusters yielded the following results:
- Hole ES18-108a (see Figure 7) returned 1.12 g/t Au over
33.6 m and 0.69 g/t Au over 84.8 m, incl.
1.17 g/t Au over 10.9 m and 1.23 g/t Au
over 16.1 m. Hole ES18-108a represents the downdip
extension of the previously reported results from hole ES17-77
(1.46 g/t Au over 45.5 m, 0.53 g/t Au over 106.0 m
and hole ES17-60 (0.65 g/t Au over 144.0 m incl.
1.9 g/t Au over 22.5 m, 4.74 g/t over 6.0
m.
This cluster is northeast trending, 200 m long
by 100 m wide with a 50o to 60o dip to the southeast.
- Hole ES18-111 (see Figure 8) returned 1.41 g/t Au over
9.4 m incl. 5.64 g/t Au over 1.0 m and
2.18 g/t Au over 5.6 m; and Hole ES18-51ext
returned 0.57 g/t Au over 143.1 m incl.
5.0 g/t Au over 4.0 m, 14.1 g/t Au
over 1.0 m, 0.81 g/t Au over 28.5
m and 1.16 g/t Au over 6.7 m. Both holes
represent the extension of following previously reported
significant results:• 3.06 g/t Au over 77.3 m
incl. 4.9 g/t Au over 45.0 m (hole
ES17-64)• 1.58 g/t Au over 12.0 m and
0.59 g/t Au over 28.5 m (hole
ES16-55)• 0.45 g/t Au over 87.0 m (hole
ES17-74)
This cluster measures at least 300 m long by 50
m wide and is northeast trending with a possible subhorizontal to
shallow dip to the southeast.
- Hole ES18-113 returned 2.18 g/t Au over 3.0 m,
1.13 g/t Au over 9.9 m and 0.62 g/t Au
over 16.0 m. This hole represents the extension of the
following previously reported significant
results:• 0.49 g/t Au over 76.5 m (hole
ES17-87)• 0.62 g/t Au over 147.5 m incl.,
5.76 g/t Au over 9.0 m (hole
ES17-80)• 1.53 g/t Au over 6.0 m and
3.15 g/t Au over 24.0 m (hole
ES17-88)• 0.50 g/t Au over 123.5 m incl.
4.45 g/t Au over 4.5 m, 12.4 g/t Au over
1.5 m and 1.04 g/t Au over 6.0 m (hole
ES17-90).
This cluster has a minimum northeast trending
extent of 300 long by 100 m wide with a possible subhorizontal
orientation.
Drilling also investigated an untested area
between two clusters centred on holes ES18-111 and ES18-113
respectively. Three holes drilled within a 500 m interval returned
the following highlights; 0.71 g/t Au over 43.4 m including
10.2 g/t Au over 1.0 m (hole ES18-112) and 0.48
g/t Au over 15.4 m (hole ES18-117.
Exploration Model and
Upside
- Several key factors point toward an intrusion-related deposit
type for the gold-bearing system identified at Eleonore South (see
press release of February 27, 2018). The Fort Knox mine in Alaska
(Kinross Gold Corporation) and the Côté Lake Project in Ontario
(IAMGOLD) are examples of large-scale intrusion-related gold
deposits.
- In this scenario, assessing the geometry of the intrusion and
the surrounding metasedimentary rocks is critical given that the
tops of intrusions are typically viewed as highly prospective.
- Subject to further validation, the tonalite intrusion appears
to be a thick planar body (450 m to 500 m thick) with a moderate to
shallow dip to the south or southeast along its southern boundary,
and a dip to the west along its western boundary (JT Prospect
area).
- Decompression along the upper contact of the tonalite intrusion
may have been the main control for mineralization along the
Contact Trend, with decompression related
fracturing acting as a conduit and trap for late-stage
magmatic-hydrothermal fluids. Main features in this zone include
networks of veins and veinlets, stockworks, and quartz-feldspar
pegmatites, all of which are associated with large alteration zones
(200 m to 400 m thick).
- The Moni Trend mineralization may also be
related to decompression of the tonalite intrusion although its
high-grade veinlets do not appear to be hosted within a broad
altered and gold-mineralized halo and its steeply dipping
orientation suggests additional, or locally different, structural
control.
- Additional significant exploration upside exists within the
portions of the tonalite located under the metasediments as shown
by the results obtained in holes ES18-108a and ES18-113. The same
configuration exists at the JT Prospect where historic hole ES08-12
returned 2.15 g/t Au over 14 m.
- The JT Prospect sediment-hosted gold-bearing mineralization
located at the contact with, and overlying the tonalite intrusion
also appear to be highly prospective and warrant further evaluation
as the underlying tonalite is explored for Contact Trend
mineralization.
- Together the mineralization related to the tonalite intrusion
contact on the Éléonore South property describe a 5 km semi
circular trend of which 2016-2018 exploration has tested less than
20% with close spaced (25 – 50m) drilling
- Future exploration at Eleonore South will focus on the two main
intrusion-related target types identified at Eleonore South; the
network of high-grade veins along the Moni Trend
and; the wide, low-grade (0.5 g/t Au to 1.0 g/t Au) gold-bearing
system along the Contact Trend.
Table 3: 2018 Drill Hole Location
Information.
Hole # |
Target |
UTM zone 18 - NAD83 |
Azimuth |
Dip |
Final Depth |
|
|
Easting |
Northing |
(deg.) |
(deg.) |
(m) |
ES16/18-048ext |
Moni Prospect |
437,597 |
5,830,024 |
N142° |
-50° |
258 |
ES16/18-051ext |
Contact Trend |
438,000 |
5,829,803 |
N322° |
-50° |
366 |
ES18-092a |
Moni Prospect |
437,593 |
5,830,019 |
N140° |
-40° |
39 |
ES18-093 |
Moni Prospect |
437,592 |
5,830,021 |
N140° |
-60° |
51 |
ES18-094 |
Moni Prospect |
437,592 |
5,830,022 |
N140° |
-75° |
51 |
ES18-095 |
Moni Prospect |
437,580 |
5,830,021 |
N140° |
-40° |
39 |
ES18-096 |
Moni Prospect |
437,580 |
5,830,022 |
N140° |
-60° |
48 |
ES18-097 |
Moni Prospect |
437,580 |
5,830,022 |
N140° |
-70° |
63 |
ES18-098 |
Moni Prospect |
437,578 |
5,830,011 |
N140° |
-40° |
39 |
ES18-099 |
Moni Prospect |
437,578 |
5,830,011 |
N140° |
-60° |
51 |
ES18-100 |
Moni Prospect |
437,578 |
5,830,012 |
N140° |
-75° |
51 |
ES18-101 |
Moni Prospect |
437,553 |
5,830,002 |
N140° |
-50° |
201 |
ES18-102 |
Moni Trend |
437,734 |
5,829,842 |
N320° |
-50° |
201 |
ES18-103 |
Moni Trend |
437,421 |
5,829,975 |
N320° |
-45° |
183 |
ES18-104 |
Moni Trend |
437,478 |
5,829,902 |
N320° |
-45° |
153 |
ES18-105 |
Moni Trend |
437,287 |
5,829,840 |
N320° |
-45° |
102 |
ES18-106 |
Moni Trend |
437,263 |
5,829,555 |
N320° |
-50° |
222 |
ES18-107 |
Moni Trend |
437,193 |
5,829,638 |
N320° |
-50° |
222 |
ES18-108a |
Contact Trend |
438,497 |
5,829,789 |
N320° |
-60° |
372 |
ES18-109 |
Contact Trend |
438,504 |
5,829,861 |
N320° |
-60° |
258 |
ES18-110 |
Contact Trend |
438,425 |
5,829,805 |
N320° |
-50° |
300 |
ES18-111 |
Contact Trend |
438,049 |
5,829,746 |
N320° |
-55° |
300 |
ES18-112 |
Contact Trend |
437,752 |
5,829,420 |
N320° |
-50° |
300 |
ES18-113 |
Contact Trend |
437,638 |
5,829,214 |
N320° |
-65° |
300 |
ES18-114 |
Contact Trend |
437,458 |
5,829,388 |
N320° |
-50° |
250 |
ES18-115 |
Contact Trend |
437,423 |
5,829,353 |
N320° |
-50° |
234 |
ES18-116 |
Contact Trend |
437,674 |
5,829,355 |
N320° |
-50° |
300 |
ES18-117 |
Contact Trend |
437,866 |
5,829,520 |
N320° |
-50° |
306 |
ES18-118 |
Moni Trend |
437,475 |
5,830,009 |
N140° |
-50° |
312 |
ES18-119 |
Moni Trend |
437,585 |
5,829,964 |
N140° |
-50° |
201 |
To view FIGURES 1–8, please click
on the following
link: http://www.eastmain.com/_resources/images/Figures_1-8.pdf
To view TABLE 2,
please click on the following
link: http://www.eastmain.com/_resources/images/Table_2.pdf
About the Eleonore South Joint Venture
Property
The Éléonore South Property is being explored as
a three-way Joint Venture between Eastmain Resources Inc. (36.7%),
Azimut Exploration Inc. (TSX-V:AZM) (26.6%), and Goldcorp Inc.
(TSX:G) (NYSE:GG) (36.7%). Azimut is the operator of the current
program under the supervision of Dr. Jean-Marc Lulin and the field
direction of François Bissonnette, both professional geologists and
qualified persons under National Instrument 43-101. This press
release and technical and information provided by Azimut was
reviewed by William McGuinty, P. Geo., Eastmain’s VP Exploration
and a Qualified Person under National Instrument 43-101.
Drill core samples were sent to ALS Minerals in
Val-d'Or, Quebec. Gold was analyzed by fire assay with atomic
absorption and gravimetric finish for grades above 3.0 g/t Au.
Samples were also analyzed for a 48-element suite using ICP. Azimut
applies industry-standard QA/QC procedures to the program.
Certified reference materials, blanks and field duplicates were
inserted in all drill core shipments to the laboratory.
About Eastmain Resources Inc. (TSX:ER,
OTCQX:EANRF)
Eastmain is a Canadian exploration company
advancing three high-grade gold assets in the emerging James Bay
gold camp in Québec. The company holds a 100% interest in the Eau
Claire Project, for which it recently issued a Preliminary Economic
Assessment (“PEA”) and the Eastmain Mine Project where the Company
has prepared NI 43-101 Mineral Resource Estimates in 2018. Eastmain
is also a partner in the Éléonore South Joint Venture located
immediately south of Goldcorp Inc.'s Éléonore Mine which hosts a
new high-grade gold discovery found in late 2017. In addition, the
company has a pipeline of exploration projects in this favourable
mining jurisdiction with nearby infrastructure.
For more
information:
Claude Lemasson, President and CEO+1
647-347-3765lemasson@eastmain.com
Laurenn Russell, Investor Relations Consultant
+1 647-347-3735lrussell@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 and 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 effect
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 preparations 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.
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