Featuring: publicly traded & venture capital companies on the U.S. (NYSE, NASDAQ, AMEX & OTC: BB) and Canadian (TSX & TSX-V) stock exchanges, Investment & Money Management Ideas. |
|
|
Press Release - Eastmain Resources Inc. (ER-TSX) |
|
|
“Despite the turmoil in the markets we are in very good shape. We are focused on precious metals in northern Quebec, with a high-grade deposit (the Eau Claire deposit, Clearwater project) that we are drilling as we speak. It (Eau Claire) has had very pleasant results; there is a lot of gold present. This summer we were also able to load the treasury up via a significant private placement with several key institutions, led by our major shareholder, which is Goldcorp.” - Donald J. Robinson (ER) (Interview published November 28, 2008) |
The Most Powerful Name In Corporate News and Information. |
|
CURRENT ISSUE | COVER ARCHIVES | INDEX | CONTACT | FINANCIALS | MARKETING SERVICES | HOME PAGE |
|
December 18, 2008
17.99 g/t Au over 4.7 m in T Vein series 100 vein intersections at 1.05 ounces gold per ton
Eastmain Resources Inc. (TSX: ER) announces
assay data from the remaining 44 drill-holes on its wholly-owned
Eau Claire Gold Deposit located in James Bay, Northern Quebec
(Table 1- See website.) Highlights include 17.99 g/t Au
(0.53 ounces) over 4.7 metres in hole ER08-136,
13.76 g/t Au (0.40 ounces) over 2.5 metres in hole
ER08-137, 9.93 g/t Au (0.29 ounces) across 5.5 metres
in hole ER08-155 and 15.02 g/t Au (0.44 ounces)
in hole ER08-172.
64 holes totaling approximately 11,500 metres were completed during 2008. In addition to testing the Main Group of Veins, the recent program tested the deposit north of the known resource, where 60 gold-bearing intervals intersecting the newly discovered T Vein series also include assays of 24.57 g/t Au (0.72 ounces) over 3.0 metres in hole ER08-145, 15.49 g/t Au (0.45 ounces) over 3.0 metres in hole ER08-148 and 74.15 g/t Au (2.17 ounces) over a metre in hole ER08-132.
Over the past 12 months the Corporation has completed 105 HQ
drill holes at Eau Claire totaling 15,000 metres with the
objective of defining high-grade, near-surface measured
resources. 200 gold-bearing vein
intervals were intersected with an average grade of
17.56 g/t Au or 0.51 ounces per ton over an
average thickness of 1.28 metres (Table 1- See website).
100 vein intervals have an average grade of
35.87 g/t Au or 1.05 ounces gold per ton over an
average width of 1.26 metres and 25 vein intervals
contain an average of 100.91 g/t Au or 2.95 ounces gold
per ton.
Work completed during its 2007-2008 campaign has enabled Eastmain to identify important deposit- and district-scale controls for gold mineralization. Definition drilling, using large diameter (HQ) core, has expanded the lateral and vertical continuity of the high-grade, gold-bearing quartz-tourmaline veins at Eau Claire. Drilling to date has been completed along a length of 600 metres to vertical depths of up to 200 metres, across a corridor approximately 200 metres wide. Over 300 gold-bearing intersections have been delineated near surface, within the Main Group of Veins and T Vein Group at the 450 West Zone. Future exploration objectives include a winter drill program focused on expanding the high-grade central portion of the Main Group of Veins; exploration drilling north of the resource to evaluate near-surface and depth potential of the T-Vein series and property-wide exploration to search for a second gold deposit. "Drilling at Eau Claire over the past 12 months has delivered an impressive tally of high-grade gold assay results, over a large area near surface. Two hundred intersections at half an ounce of gold and one hundred vein intervals at one ounce gold per ton reinforces our premise that increasing the core diameter combined with a tighter drill spacing will have a positive net impact on gold grade and vein geometry. We have identified a new group of veins and additional controls to the gold mineralization, which will add to the future resource base." stated Don Robinson, President and CEO of Eastmain. This news release was prepared by Dr. Donald Robinson, P. Geo., the qualified person supervising the project in accordance with NI 43-101. About Eastmain Resources Inc. (TSX:ER) 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 James Bay 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 an annual budget of $4 million for gold exploration in Quebec. For further information please contact Eastmain Resources Inc.: Dr. Donald J. Robinson, President or Catherine Butella, Exploration Manager at (519) 940-4870, fax (519) 940-4871, by e-mail: info@eastmain.com or visit our website at www.eastmain.com. The statements made in this Press Release may contain forward-looking statements that may involve a number of risks. Actual events or results could differ materially from the Company's expectations and projections. "Building for tomorrow, today!"
|
|
