Eastmain and Partners Begin Winter Drilling Program at Éléonore South Project, James Bay Region, Québec
TORONTO, Feb. 27, 2018 (GLOBE NEWSWIRE) -- Eastmain Resources Inc. (“Eastmain” or the “Company”) (TSX: ER) (OTCQX: EANRF) announces the start of the Phase 2 diamond drilling program on the Éléonore South Joint Venture (“ESJV”) Property. Phase 2 is planned to complete approximately 5,100 m (29 holes). The results of Phase 1 (4,443 m in 18 holes) were reported in a press release dated December 12, 2017. The Éléonore South Property is adjacent to Goldcorp's Éléonore Gold Mine in the James Bay region of Quebec (Figure 1).
Phase 2 Drilling Objectives (Figure 2)
Phase 2 will build on the success of drilling and trenching programs conducted in 2017 by the ESJV, focussing on two significant gold targets;
- Moni Trend: Test highly prospective targets along a 1 km strike including the Moni Prospect and the 101 Prospect, drilling 2,200 m in 18 holes, including a closely spaced drill array on the Moni Prospect to assess continuity of high-grade gold found at surface as well as structural and deformational elements.
- Contact Trend: Assess the grade and geometric continuity between three sectors that returned significant gold results by further tests of those sectors and infilling of untested areas over a 1.5 km strike length near the southern contact of the tonalite intrusion with metasediments, drilling 2,900 m in 11 holes.
Updated Exploration Model and Exploration Potential (Figures 3 and 4)
New information acquired on the Property over the past 12 months has been systematically reviewed and integrated into Phase 2 drill planning. Key results and interpretations point toward a reduced intrusion-related deposit type given the:
- Development of gold mineralized zones within the tonalitic intrusion;
- Weak magnetic footprint;
- Low sulphide content (generally <0.5% aspy, py, po) and Bi, W, Mo metal association;
- Free gold associated with large quartz-albite-(biotite) stockwork zones;
- Extensive silica-albite alteration.
The late (2.61 billion year-old) tonalite is interpreted to be a mushroom shaped intrusion with a 450 to 500 m thick, roughly tabular top having a shallow to moderate dip to the south along its southern contact and a moderate dip to the west along its western contact (JT Prospect area). The current interpretation suggests the intrusion has not been overturned. The Contact Trend is interpreted to represent a decompression stockwork zone close to the top of the intrusion. This mineralized zone may extend downwards, parallel to, and below, the contact with the overlying metasedimentary country rocks.
This geometric model also provides a strengthened interpretation for the source of mineralization located in the surrounding metasedimentary rocks. The sediment-hosted JT Prospect gold mineralization, located to the west of the Moni and Contact Trend targets, is found immediately above the W dipping tonalite intrusion. This interpretation presents metasedimentary rocks overlying the tonalite elsewhere along the intrusion border as good exploration targets. Additionally, the lower contact of this thin, shallow dipping intrusion remains untested by the ESJV.
Previous Exploration Highlights (Figures 5 to 10)
Drilling on the Property since September 2016 (9,686 m in 44 holes), along with detailed prospecting, mechanical stripping and channel sampling have generated significant success, including:
- The delineation of a major intrusion-hosted gold-bearing corridor 4 km long by 600 m wide, which extends onto the adjacent Cheechoo property to the NE (Sirios Resources Inc.)
- The identification of two parallel trends striking NE-SW within the corridor, characterized by a low magnetic footprint and strong gold-arsenic soil anomalies:
- The Moni Trend, characterized by a high-grade deformed quartz-feldspar (pegmatitic) vein system in tonalite; best results include 79.5 g/t Au over 5.87 m (channel sample, Moni Prospect), 101 g/t Au (outcrop grab sample, 101 Prospect) and 1,500 g/t Au (angular boulder, Trench Prospect);
- The Contact Trend, characterized by highly altered gold-bearing zones in tonalite with intervals which can average more than 0.5 g/t Au over up to 60 m intervals, developed near the contact with overlying metasedimentary rocks; best results include 4.9 g/t Au over 45.0 m (hole ES17-64); 1.46 g/t Au over 45.5 m (hole ES17-77), 6.13 g/t Au over 9.0 m (hole ES17-80) and 3.15 g/t Au over 24.0 m (ES17-88).
- Improvement of exploration model by incorporation of gold-bearing vein systems in sedimentary sequences in the hanging wall of the tonalite intrusion
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 information provided by Azimut, was reviewed by William McGuinty, P. Geo., Eastmain’s VP Exploration and a Qualified Person under National Instrument 43-101.
To view FIGURES 1–10, please click on the following link:
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.
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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.