Eastmain Resources Inc.: Visible Gold in Another 50 Veins At Eau Claire
Eastmain Resources Inc. announces an update on 2008 drilling at its wholly-owned Eau Claire Gold Deposit located in James Bay, Northern Quebec. Current drilling has intersected visible gold within 50 quartz-tourmaline veins in 23 of 29 drill holes (ER08-113 to ER08-141). These holes have intersected the main group of veins below the 2007 drilling. A new vein set, also containing visible gold, (T-Vein series) has now been discovered north of the main deposit. 2007 drilling cut visible gold in 34 of 51 holes with similar quartz-tourmaline vein intersections containing an average grade of 70.74 g/t gold or 2.07 ounces per ton (April 2, 2008 news release).
The current program is designed to increase the size and grade of the Eau Claire gold deposit at a sufficient drill spacing to calculate a “measured“ gold resource. The program will also focus on delineating near-surface ounces, which might be extracted by open pit methods. (See website for drill plan maps). To date, the 2008 drilling has intersected multiple mineralized intervals in each hole, which demonstrate excellent continuity from hole to hole.
Previous wide-spaced drilling has confirmed a very large “footprint” to the Eau Claire vein system for a length of over 1.5 kilometres and to a depth of 900 metres. 2007 and 2008 definition drilling to date, have demonstrated a positive correlation of drill core size and spacing with gold grade — gold grade and vein continuity have increased with closer spaced holes and a larger core diameter. Since changing to larger diameter (HQ) core in 2007 over 100 vein intercepts containing visible gold have been intersected. The high grade gold corridor is open laterally and at depth.
“The large diameter drill program at Eau Claire has produced an impressive number of veins containing visible gold. Clearly, the grade and size of the deposit have been under-estimated with the smaller core diameter and wider drill-hole spacing” stated Eastmain’s CEO, Don Robinson. “The Corporation is well-funded and holds an attractive, high-grade gold deposit located within one of the most favourable mining jurisdictions in the world.”
Dr. Donald J. Robinson P.Geo, is the Qualified Person for the information contained in this press release and is a Qualified Person within the meaning of National Instrument 43-101.
Eastmain is a Canadian gold exploration company with 100% interest in the Eau Claire and Eastmain gold deposits. The Corporation has in excess of $20 Million in working capital and holds an interest in 12 projects within the district, including the Eleonore South property, where a gold discovery has been found in a similar geologic setting to Goldcorp’s Roberto deposit. Eastmain has a minimum budget of $4 million for gold exploration in Quebec.
