Eastmain Resources Inc.

Published : April 25th, 2012

Mine Project Drill Results

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ER HEADER

Eastmain Resources Inc. TSX: ER
 
News Release
 
April 25, 2012
 
EASTMAIN MINE PROJECT
 
A Zone - 5.78 g/t Au over 6..5 m

 B Zone - 9.10 g/t Au over 3.0 m 

C Zone - 5.71 g/t Au over 1.5 m

Eastmain Mines Inc., a wholly-owned subsidiary of Eastmain Resources Inc. (TSX:ER), announces drill results from a 28-hole program totaling 13,062 metres completed in 2011 on the Eastmain Mine property, located in the James Bay region, Qu�bec. Our principal objective is to expand the Eastmain Mine Gold Deposit beyond its historical resources of 255,750 ounces of gold4). The high-grade, gold-rich A, B and C Zones, which comprise the current deposit, have been traced to a vertical depth of about 500 metres below surface (see website for 3D Leapfrog Deposit Model).

Drill hole EM11-52 intersected an intercept within the A Zone mine series, which assayed 5.78 grams per tonne (gpt) gold across 6.5 metres at a depth of 443.0 metres. The A Zone forms a shallow dipping plane with sub-vertical plunging shoots extending approximately 700 metres down-dip from surface. Holes EM11-47 through EM11-58 also intersected wide intervals of low-grade mineralization within A Zone mine series rocks. The A Zone is open at depth.

B Zone mine series rocks also form a shallow dipping package of sub-vertically plunging shoots extending about 700 metres down-dip from surface. Drill holes EM11-65 and 66 intersected the B Zone. Results include 9.10 gpt gold over 3.0 metres at a depth of 435.5 metres and 2.58 gpt gold over 5.50 metres at a depth of 451.0 metres respectively. Several trends evident within the B Zone package will be drill tested at depth in future programs.

Re-assaying of two B Zone intervals drilled in 2010 containing visible gold in holes EM10-28 and EM10-38 respectively, resulted in an increase in the average grade of both intervals, including 13.24 gpt gold across 9.5 metres and 16.6 gpt gold  over 5.5 metres.

Holes EM11-68 to 74 were collared to test the lateral and vertical limits of the C Zone mine series. Though these holes intersected mine series rocks with low-grade mineralization, no significant grade thicknesses were returned from within the C-Zone package. However, drill holes EM11-69 and 74 intersected a new zone of gold mineralization in the hanging wall above the C Zone horizon, which includes 5.77 grams gpt over a half-metre interval at a depth of 230 metres and 5.71 gpt gold over 1.5 metres at a depth of 352.5 metres respectively.

The mine trend extends for several kilometres in both directions from the A,B,C Zones. Several high-priority drill targets have been identified along this 10-kilometre-long mine trend, to the northwest and the southeast of the current deposit. A $1M-exploration program budgeted for the Eastmain Mine Project in 2012 will include additional surface work to prioritize existing targets for drill testing and identify new prospective targets within the mine horizon, and a minimum of 3,000 metres of drilling.

The project facilities are currently being refurbished and upgraded as a result of third-party camp rentals by sub-contractors hired to construct Route 167 North. Permanent road access to the Eastmain Mine property, courtesy of Quebec's Plan Nord infrastructure development program, is anticipated by 2013.

 

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. Chemical analysis for the drilling was completed by ALS CHEMEX Laboratories using a 50-gram split for multi-element and gold ICP analysis. Samples grading over 500 ppb are analyzed by fire assay techniques with and atomic absorption finish. Samples greater than 10 grams are then fire-assayed with a gravimetric finish. Internal standards provided by an independent company and blank samples were inserted for quality control purposes. Assay samples are taken from NQ core, sawed in half along the core axis; one half is sent to ALS Laboratories and the other half retained for future reference.

About Eastmain Resources Inc. (TSX: ER)

Eastmain is a Canadian gold exploration company with 100% interest in the Eau Claire and Eastmain gold deposits which together contain 632,000 ounces of gold in Measured & Indicated resources1),255,750 ounces gold in Historical Measured and Indicated resources4)plus 1,020,000 ounces of gold in Inferred resources2). The Corporation has $17.4 Million in its treasury and holds a pipeline of exploration projects within the James Bay District, including the �l�onore South property, which lies immediately south of Goldcorp's multi-million-ounce �l�onore property. Eastmain has allocated $10 million for exploration of its key gold projects in Qu�bec for 2012. Work will include 50,000 metres of drilling.

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. 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 and the availability of financing. 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.

  1. Measured & Indicated Resources (which may potentially be extracted by both open and underground mining methods) of 3,354,000 tonnes containing 632,000 ounces gold @5.86 g/t  gold uncapped - Eau Claire NI43-101 NR Apr 26, 2011.
  2. Inferred Resources (which may potentially be extracted by both open and underground mining methods) of 5,322,000 tonnes containing 1,020,000 ounces gold @ 6.06 g/t gold uncapped - Eau Claire NI43-101 NR Apr 26, 2011.
  3. Near-surface Open Pit Measured & Indicated Resources for Eau Claire (only that portion of the Eau Claire deposit that could potentially be mined by open-pit methods): 2,729,000 tonnes containing 502,000 ounces @5.72 g/t gold -- Eau Claire NI43-101 NR Apr 26, 2011; NR May 19, 2011.
  4. 255,750 ounces gold - Measured & Indicated Historical Non-NI43-101 Compliant Resources at Eastmain Mine (Campbell 2004 AR) and should not be relied upon. A qualified person from Eastmain has not done sufficient work to classify the historical estimate as current mineral resources, and therefore the historical estimate should not be treated as current mineral resources.

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

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Eastmain Resources Inc. | 50 Richmond St. East | Suite 101 | Toronto | Ontario | M5C 1N7 | Canada
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Eastmain Resources Inc.

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CODE : ER.TO
ISIN : CA27743M1068
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Eastmain Res. is a gold and lead exploration company based in Canada.

Eastmain Res. holds various exploration projects in Canada.

Its main exploration properties are EASTMAIN GOLD MINE, KIDD (BUTTERWORTH) - EASTMAIN, TINGLEY BROOK, ROAD KING, RUBY HILL (EASTMAIN), ELEONORE SOUTH, DYNA, LAC ELMER, LAC HUDSON, RADISSON, ABITIBI EXTENSION, AKWESKWA, LIDGE, MEGATEM, OTTER BROOK / ROCKY LAKE, RAILROAD, RESERVOIR and CLEARWATER / EAU CLAIRE in Canada.

Eastmain Res. is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 48.2 millions as of today (US$ 36.8 millions, € 31.1 millions).

Its stock quote reached its highest recent level on January 07, 2011 at CA$ 2.17, and its lowest recent point on April 03, 2020 at CA$ 0.06.

Eastmain Res. has 175 430 000 shares outstanding.

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Corporate Presentations of Eastmain Resources Inc.
10/16/2009Eric Lemieux, LBS, "Golden Opportunities Giving Positive Out...
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Annual reports of Eastmain Resources Inc.
2008 Annual Report
2007 Annual report
2006 Annual report
Financings of Eastmain Resources Inc.
11/15/2013Arranges Private Placement
12/2/2011Completes $5.75M Private Placement Financing
8/24/2010Announces Private Placement
12/30/2009Private Placement
7/3/2008Announces Closing Private Placement 11,447,000 Units
Nominations of Eastmain Resources Inc.
12/20/2013Appoints Serge Bureau to New Advisory Board Position
9/17/2013Appoints New Director and New District Geologist
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Financials of Eastmain Resources Inc.
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9/27/2012Purchases Royalty on Eastmain Mine
9/24/2012at the 2012 Toronto Resource Investment Conference
5/10/2012Meet the management of Eastmain Resources Inc at the 2012 Ne...
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2/28/2012(Radisson)Honey Badger Defines Drill Targets on Radisson Option
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11/8/2012Clearwater Project High-Grade Gold Extends Below Soccer Fiel...
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7/16/2012Clearwater Project Update
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