Posted in | Gold | Mining Business

Eastmain Resources Begins Phase 2 Drilling at Eléonore South Joint Venture Property

Eastmain Resources Inc. (TSX:ER) ("Eastmain" or the "Company") is pleased to announce drilling has begun on Phase 2 of the 5,000 m diamond drilling program at the Eléonore South Joint Venture Property in the James Bay region of Québec. This phase of drilling, totalling 2,500 m (12 holes) will continue assessing high potential gold targets along a 4 km long by 500 m wide corridor, located east of the JT Prospect and to the east and west of the JV's recently discovered Moni Prospect (FIGURE 1).

The Phase 2 drilling program has three (3) objectives:

1. Follow-up of encouraging results obtained in the corridor during the Phase 1 program, within an altered tonalite intrusive, including:

  • 76.1 g/t Au over 1.55 m (hole ES16-57);
  • 4.57 g/t Au over 2.7 m and 0.59 g/t Au over 28.5 m (hole ES16-55);
  • 0.62 g/t Au over 79.1 m including 5.0 g/t Au over 4.0 m (hole ES16-51);

2. Testing the eastern extensions of the corridor along the tonalite - metasedimentary contact, immediately south of the Cheechoo Discovery (Sirios Resources Inc.); and,

3. Testing the western extension of the corridor toward the JT Prospect.

The targets are defined by a combination of drilling and prospecting results, elevated gold-arsenic anomalies in soils and results of geophysical reprocessing of magnetic data.

The Eléonore South's prospective corridor is interpreted to correspond to a late-stage hydrothermal-magmatic mineralized system emplaced along the margins of the tonalite intrusion, close to, or at the contact with surrounding metasediments (see Phase 1 drilling location and results in the press release of November 21, 2016).

The Eléonore South Property is being explored as a three-way Joint Venture between Eastmain Resources (36.7%), Azimut Exploration Inc. (TSX VENTURE:AZM) (26.6%), and Les Mines Opinaca Ltée ("Opinaca") (36.7%), a wholly-owned subsidiary of Goldcorp Inc. (TSX:G)(NYSE:GG). Azimut is the operator of the current program.


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