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Eastmain Resources Drilling at Clearwater Continues to Confirm and Extend Mineralization

/EINPresswire.com/ -- TORONTO, ONTARIO--(Marketwired - Dec 1, 2016) - Eastmain Resources Inc. ("Eastmain" or the "Company") (TSX:ER) is pleased to announce additional assay results from its ongoing, 63,300 m drill program at the Clearwater Project, which includes the Eau Claire deposit, in James Bay, Quebec (see FIGURES 1-4).

These results are from 23 holes (6,225 m) of drilling for a total of 32 holes (9,228) m to date. A summary of significant assay results and drilling data are presented in Tables 1, 2 and 3 below.

Highlights include:

  • Eau Claire infill drilling highlights:
    • 43.1 g/t Au over 2.0 m - ER16-606
      including 96.8 g/t Au over 1.0 m
    • 15.8 g/t Au over 3.5 m - ER16-617
      including 66.6 g/t Au over 0.7 m
    • 35.3 g/t Au over 0.7 m - ER16-602
  • Snake Lake drilling continues to intersect mineralization across the targeted area; multiple intercepts for hole ER16-599 are at an average vertical depth of 57 m

Claude Lemasson, Eastmain President and CEO commented, "Our ongoing drill programs continue to showcase encouraging results on a number of fronts. Firstly, our infill results continue to reinforce our existing mineral resource through tighter drill spacing which assists in modelling our mineralized structures. Meanwhile, step-out drilling to the east continues to return positive results indicating potential for future mineral resource growth. Lastly, our Snake Lake results demonstrate more near surface mineralization within 2 km of Eau Claire, and support our thesis for potential satellite deposits."

DRILLING RESULTS - EAU CLAIRE

Eastmain is reporting on the second set of drilling results which includes 15 infill drill holes (4,353 m). To date, a total of 23 holes (7,125 m) of drilling have been reported with assays pending on an additional 23 holes (7,950 m), within the planned 55,700 m (180 hole) Eau Claire drill program. See press release dated October 24, 2016 for initial results.

Drilling at Eau Claire continues to infill the current resource area while testing new targets beyond the known resource envelope. Infill drilling has focused on tightening nominal drill spacing to approximately 25 m within the resource area. This tighter drill spacing provides key information for future consideration of underground exploration and development. This increased information will also provide a foundation for the upcoming Preliminary Economic Assessment scheduled for completion in late 2017, on the back of an updated resource estimate in 2Q 2017.

A fourth drill is expected at Eau Claire by the end of the year, in order to accelerate the overall exploration program.

DRILLING RESULTS - SNAKE LAKE

Eastmain is reporting on the second set of drilling results which includes 8 exploration drill holes (1,872 m). A total of 9 holes (2,103 m) are now complete with assays pending on the final 11 drill holes (2,400 m) at the Snake Lake Target.

The Snake Lake Target is located 1.8 km east from the Eau Claire Deposit, along the Clearwater Deformation Zone. Drilling continues to return encouraging near-surface gold results, with similar quartz-tourmaline related gold mineralization to the Eau Claire deposit. Additionally, gold mineralization in altered basalt flows and interlayered tuffs with sulphide mineralization of up to 15% has been intersected in several holes. All drilling to date encountered mineralization within 169 m from surface, with the vast majority being in the first 100 m.

GOLD MINERALIZATION - EAU CLAIRE

Gold mineralization at the Eau Claire gold deposit is generally located within structurally-controlled, high-grade en-echelon quartz-tourmaline veins and adjacent altered rocks. The vein system is predominantly hosted within a thick sequence of massive and pillowed mafic volcanic flows, interbedded with narrow intervals of volcaniclastic sedimentary rocks. Both flows and sediments have been intruded by multiple phases of felsic and porphyry dykes. Host rocks have been folded and deformed (sheared) through several deformation events. The gold bearing veins may occur as thin fracture fill with tourmaline and develop along an easterly strike and a southerly dip (450W zone) into thick quartz-tourmaline veins with zoned tourmaline+/-actinolite+/-biotite+/-carbonate alteration halos which can measure up to several metres in thickness.

GOLD MINERALIZATION - SNAKE LAKE

Gold mineralization at the Snake Lake occurrence is similar to the Eau Claire deposit. Quartz tourmaline veins are hosted within a thick sequence of basalt flows, tuffs and interbedded metasedimentary rocks which have been intruded by felsic dykes. As at Eau Claire, the entire sequence has been heavily deformed and sheared resulting in development of a deformation zone with strong and extensive foliation and local shearing. Significant zones of sulphide mineralization (pyrite, pyrrhotite, +/- arsenopyrite +/- chalcopyrite) are also reporting gold mineralization within the deformation zone.

Table 1: Eau Claire: Summary of Drilling Results



TYPE
Drill Hole From To Interval Gold Assay Vertical Depth3 Interpreted Zone
m m m1 g/t Au2 m
Infill ER16-591 227.7 229.2 1.5 1.14 193 450 W
232.0 234.1 2.1 2.83 197 450 W
incl. 233.1 234.1 1.0 4.97 450 W
Infill ER16-593 242.1 246.5 4.4 2.03 200 450 W
incl. 245.5 246.5 1.0 4.08 450 W
269.5 270.0 0.5 15.2 220 450 W
271.5 276.0 4.5 0.96 228 450 W
incl.275.0 275.5 0.5 3.78 450 W
305.0 306.0 1.0 4.50 246 450 W
Infill ER16-595 203.0 204.5 1.5 0.64 154 450 W
208.5 209.0 0.5 13.6 158 450 W
269.6 270.6 1.0 3.24 202 450 W
303.5 304.2 0.7 3.06 225 450 W
Infill ER16-598 13.6 14.1 0.5 4.15 9 450 W
196.3 198.0 1.7 1.17 137 450 W
Infill ER16-601 42.4 44.5 2.1 0.91 36 450 W
Infill ER16-602 110.8 113.8 3.0 1.09 92 450 W
221.5 222.2 0.7 35.3 182 450 W
270.0 271.9 1.9 2.95 221 450 W
incl. 270.0 270.5 0.5 7.22 450 W
Infill ER16-605 209.5 210.0 0.5 2.14 159 450 W
Infill ER16-606 156.6 158.6 2.0 2.90 135 450 W
166.6 167.1 0.5 1.29 143 450 W
219.6 221.9 2.3 43.1 188 450 W
incl. 220.2 221.2 1.0 96.8
224.0 225.0 1.0 3.56 192 450 W
248.0 248.7 0.7 2.34 211 450 W
273.2 273.7 0.5 1.57 233 450 W
275.6 276.2 0.6 1.41 235 450 W
Infill ER16-608 190.6 193.6 3.0 6.36 164 450 W
incl. 192.1 192.6 1.0 26.4 450 W
197.1 197.6 0.5 2.04 168 450 W
Infill ER16-609 184.0 185.0 1.0 1.50 142 450 W
Infill ER16-610 51.3 51.8 0.5 7.11 48 450 W
61.3 61.8 0.5 4.10 57 450 W
142.0 144.0 2.0 1.05 132 450 W
149.0 150.0 1.0 1.37 138 450 W
187.0 187.5 0.5 4.65 172 450 W
Infill ER16-613 203.5 205.1 1.6 2.03 183 450 W
216.0 216.5 0.5 1.13 194 450 W
240.4 245.0 4.6 4.02 218 450 W
incl. 240.4 241.4 1.0 7.93 450 W
Infill ER16-614 144.0 146.6 2.6 2.78 115 450 W
incl. 144.5 145.5 1.0 4.13 450 W
Infill ER16-616 103.5 104.2 0.7 3.21 75 450 W
128.3 130.0 1.7 2.15 92 450 W
Infill ER16-617 78.3 78.8 0.5 1.18 66 450 W
111.9 117.5 5.5 1.12 97 450 W
152.0 152.5 0.5 2.84 128 450 W
202.1 205.6 3.5 15.8 171 450 W
incl. 204.8 205.6 0.8 66.6 450 W
211.2 211.7 0.5 8.90 178 450 W
223.2 224.2 1.0 8.50 189 450 W
260.8 261.8 1.0 2.70 220 450 W

Table 2: Snake Lake: Summary of Drilling Results

Drill Hole From To Interval Gold Assay Vertical Depth3 Interpreted Zone
m m m1 g/t Au2 m
ER16-594 126.3 128.0 1.7 1.34 95 biotite, carbonate altered schist with quartz-tourmaline veining
ER16-596 57.0 58.5 1.5 1.14 39 foliated, altered basalt 5% sulphide
67.0 68.0 1.0 2.95 46 foliated, altered basalt tr. sulphide
80.6 81.6 1.0 6.38 55 biotite, carbonate altered basalt 5% sulphide
ER16-599 8.8 9.8 1.0 1.33 7 altered basalt 1-10% sulphide
29.0 33.0 4.0 1.45 21 quartz feldspar porphyry dyke in tuff 2-15% sulphide
incl. 29.0 30.0 1.0 3.74
41.3 41.8 0.5 5.14 29 sulphide mineralized tuff
46.8 48.8 2.0 1.01 33 sulphide mineralized tuff
66.9 67.9 1.0 4.02 47 mineralized basalt/tuff contact, 10% sulphide
163.5 166.0 2.5 2.45 113 quartz/tourmaline vein 5% sulphide
incl. 163.5 164.5 1.0 4.29
ER16-600 42.4 44.0 1.6 1.62 31 shear zone, 10% py.
ER16-607 85.5 86.5 1.0 2.30 61 quartz/tourmaline vein 5% sulphide
142.0 143.0 1.0 1.80 100 biotite/actinolite/ tourmaline altered basalt
ER16-611 NSV
ER16-615 28.4 29.0 0.6 8.16 20 biotite, tourmaline altered schist, 15% sulphide
247.8 249.8 2.0 1.13 169 Altered basalt with quartz-epidote
ER16-622 NSV
1. Intervals are presented in core length; true width will vary depending on the intersection angle of the hole with the targeted zone. Holes are generally planned to intersect vein structures as close perpendicular as possible and true widths are estimated to be 75%-85% of downhole widths.
2. For known mineralized zones, intervals are based on geological observations and limited compositing of veins. Assays presented are not capped. Intercepts occur within geological confines of major zones but have not been correlated to individual vein domains at this time.
3. Vertical depth is measured from the surface to the mid-point of the reported interval.

Table 3: Hole Location Information

Target Drill Hole Azimuth Inclin. UTM Coordinates Total Length Elevation
Zone 18
Number Deg. Deg. Easting Northing (m)
Eau Claire ER16-591 355 -58 444891 5785064 297 305
Eau Claire ER16-593 355 -56 444695 5784994 357 286
Eau Claire ER16-595 355 -50 444913 5785043 324 301
Eau Claire ER16-598 355 -45 444990 5785045 282 291
Eau Claire ER16-601 355 -56 444966 5785069 393 295
Eau Claire ER16-602 355 -55 444717 5785027 297 291
Eau Claire ER16-605 355 -50 444938 5785122 249 304
Eau Claire ER16-606 355 -60 444820 5785008 351 291
Eau Claire ER16-608 355 -59 444845 5785004 375 291
Eau Claire ER16-609 355 -52 444988 5785122 201 312
Eau Claire ER16-610 355 -67 445023 5785049 249 301
Eau Claire ER16-613 355 -65 445065 5785050 252 309
Eau Claire ER16-614 355 -60 445066 5785076 201 314
Eau Claire ER16-616 355 -46 445057 5785133 174 323
Eau Claire ER16-617 355 -57 444897 5785008 351 291
Snake Lake ER16-594 355 -50 446550 5785015 177 290
Snake Lake ER16-596 355 -45 446664 5784944 225 294
Snake Lake ER16-599 355 -45 446750 5785000 177 280
Snake Lake ER16-600 355 -46 446850 5785000 201 280
Snake Lake ER16-607 360 -45 447120 5784815 423 280
Snake Lake ER16-611 360 -45 447419 5784823 216 280
Snake Lake ER16-615 355 -45 447024 5784813 267 293
Snake Lake ER16-622 355 -45 447195 5785040 186 265

The design of the Eastmain Resources' drilling programs, Quality Assurance/Quality Control and interpretation of results is under the control of Eastmain's geological staff, including qualified persons employing a strict QA/QC program consistent with NI 43-101 and industry best practices. The Clearwater project is supervised by Eastmain's Project Geologist, Michel Leblanc P. Geo.

Drill core is logged and split with half-core samples packaged and delivered to ALS Minerals laboratory. Samples are dried and subsequently crushed to 70% passing a 2 mm mesh screen. A 1000 gram subsample is pulverized to a nominal 85% passing 75 micron mesh screen. The remaining crushed sample (reject) and pulverized sample (pulp) are retained for further analysis and quality control. All samples are analysed by Fire Assay with an Atomic Absorption (AA) finish using a 50 gram aliquot of pulverized material. Assays exceeding 5 g/t Au are re‐assayed by Fire Assay with a Gravimetric Finish. Eastmain regularly inserts 3rd party reference control samples and blank samples in the sample stream to monitor assay performance and performs duplicate sampling at a second certified laboratory. For 2016, approximately 10% of samples submitted are part of the Company's laboratory sample control protocols.

This press release was compiled and approved by William McGuinty, P. Geo., Eastmain's VP Exploration and Qualified Person under National Instrument 43-101.

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.

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.

Claude Lemasson
President and CEO
+1 647-347-3765
lemasson@eastmain.com
Alison Dwoskin
Manager Investor Relations
+1 647-347-3735
dwoskin@eastmain.com

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