Eastmain Resources Inc. is pleased to announce the 2017/2018 exploration program on the Éléonore South JV Property. Managed by Azimut Exploration, the program includes 8,000 m of drilling for a total budget of $3.9 million, where each JV partner is contributing pro rata (FIGURES 1-3). The Éléonore South JV Property is adjacent to Goldcorp's Éléonore Gold Mine property in James Bay, Québec.
On the back of the strong results from the 2016/2017 exploration program, the new budget increased by 90% to target those areas that would best lead to potential discovery. The partners intend to initiate a two-phase program, where the first phase will begin early next month, and the second phase will begin early in the new year.
The 3 main objectives of the 2017/2018 exploration program include:
- Drilling to test the grade and continuity from previous drilling;
- Continue drill testing the prospective corridor stretching east approximately 4 km from the JT Prospect to the Moni Prospect on the Cheechoo property boundary; and
- Conduct a property-wide geochemical survey (lake bottom) followed by focused prospecting to identify additional drill targets.
This comprehensive program includes the following planned work:
- 8,000 metres of diamond drilling: Phase 1 totalling 4,400 metres from August to October, Phase 2 totalling 3,600 metres from January to March;
- Heliborne high-definition magnetic survey: 980 line-km at 25-m line spacing over the prospective corridor and its surroundings;
- Stripping of the Moni Prospect: to better assess the geometry and grade continuity of gold-bearing pegmatites and the gold mineralized altered tonalite intrusion;
- Property-scale lake-bottom sediment geochemical survey: collecting approximately 130 samples to better identify and rank new targets; and
- Property-scale prospecting.
The 2016/2017 exploration program demonstrated the presence of a 4.0 km long by 0.5 km wide gold-bearing prospective corridor related to a hydrothermally altered tonalite intrusion and its contact with metasediments within the property. The most significant results included a drill intercept of 4.9 g/t Au over 45.0 m, and 49.2 g/t Au over 4.0 m in channel sampling (see press releases,11/03/16, 11/12/16, 05/02/17 and 05/30/17).
Further west, at the JT Prospect, this corridor may extend another 4 km north along the tonalite/metasediment contact to the FD Prospect, potentially doubling its length on the Property. Gold mineralization hosted in metasediments have been located, but remain under-explored and will be subject to systematic field assessment, which may lead to new drilling targets.
Main target types on the Property include:
- Shallow-depth/sub-cropping kilometre-scale large stockwork zones, or disseminated mineralization, hosted in a tonalite intrusion; and
- Gold-bearing high-grade pegmatite dykes, or pegmatite dyke swarms, hosted in the tonalite intrusion.
About the ESJV 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 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.
This press release and information provided by the operator of the Éléonore South JV, was reviewed by William McGuinty, P. Geo., Eastmain’s VP Exploration and a Qualified Person under National Instrument 43-101.
To view FIGURES 1–3, please click on the following link: www.eastmain.com/_resources/news/Images/ER_170720_Figures1-3.pdf