Close X Cookies are necessary for the proper functioning of 24hGold.com. By continuing your navigation on our website, you are accepting the use of cookies.
To learn more about cookies ...
EnglishFrench
Gold & Silver Prices in
Eastmain Resources Inc.: Clearwater Project High-Grade Gold Extends Below Soccer Field Showing
Published : November 08, 2012
( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment
Keywords :   Eau | Gold |

TORONTO, ONTARIO--(Marketwire - Nov. 8, 2012) - Eastmain Resources Inc. (News - Market indicators) is pleased to announce drill assay results for its 100%-owned Eau Claire gold deposit (Clearwater Project), located in the James Bay, Middle North region of Québec. This phase of drilling has been successful in expanding the resources of the Eau Claire gold deposit, with over 80 gold-bearing drill intersections exceeding the resource cut-off grades received to date. Both high-grade gold veins and wider zones of gold mineralization have been detected within the 450 and 850 West Zones in multiple drill holes. 90 drill holes totaling 34,211 metres have been completed to date in 2012. The objective of the current program is to expand the Eau Claire gold deposit to between two million to 2.3 million ounces, including a million ounces of potential open pit resources, principally in measured and indicated classifications.1,2

Assay highlights from the drill program include:

850 West Zone

- 2.57 g/t Au over 15.0 m (including 12.6 g/t Au and 21.4 g/t Te over 2.5 m) in hole ER12-388
- 3.09 g/t Au over 13.5 m (including 10.10 g/t Au and 10.0 g/t Te over 3.0 m) in hole ER12-391
- 1.60 g/t Au over 24.0 m (including 3.89 g/t Au and 4.16 g/t Te over 6.5 m) in hole ER12-411**
- 41.62 g/t Au over 2.0 m (including 148.0 g/t Au and 173.0 g/t Te over 0.5 m) in hole ER12-411
- 11.04 g/t Au over 6.5 m (including 19.1 g/t Au over 3.5 m) in hole ER12-412**

**Note this assay interval for hole 411 does not include four 0.5-m samples containing in excess of 250 grains of visible gold, and the above interval for hole 412 does not include one 0.5-m sample containing 35 grains of visible gold. Assay data is pending and these intervals have been diluted at a zero grade.

2012 drilling has confirmed near-surface, high-grade gold mineralization in vein V19, which is located in the northern portion of the 850 West Zone (holes 388 and 391) and in veins V9 and V10 (holes 411 and 412) drilled below the "Soccer Field". Holes 411 and 412 were collared below a high-grade showing in the Soccer Field trench, which assayed 16.4 g/t Au over 13.5 m, including 268.0 g/t Au over 0.5 m.

450 West Zone

- 4.70 g/t Au over 5.0 m (including 9.33 g/t Au and 11.0 g/t Te over 2.0 m) in hole ER12-380
- 24.0 g/t Au over 1.5 m (including 67.1 g/t Au and 87.3 g/t Te over 0.5 m) in hole ER12-389
- 2.49 g/t Au over 18.0 m (including 15.3 g/t Au and 21.9 g/t Te over 3.0 m) in hole ER12-395

2012 drilling confirms that gold mineralization continues between the 450 and 850 West Zones, in the area referred as the Gap Zone, and also extends north of the Eau Claire deposit. Over 55 significant drill intersections have been confirmed from the T Vein group, located north of the current resource limits. The current 40,000-metre drill program is 85% complete, with assay data pending for holes 406 through 435. Assay data is also pending for samples containing visible gold from holes 406, 407, 408, 410, 411, 412, 421, 422, 426, 427, 430, 432 and 435. A table of significant assay results for the 2012 drilling program at Clearwater, together with maps and figures, has been posted on the Company's website at www.eastmain.com.

According to Dr. Robinson, Eastmain's President & CEO, "The recent resource update for the Eau Claire gold deposit (Oct 11, 2012 News Release) demonstrates that the Clearwater Project is amongst an exclusive group of high-grade gold deposits in North America with near-term potential exceeding two million ounces1,2, half of which may be amenable to extraction through open pit methods. To date, 207 drill holes have defined 348 intersections containing very-fine-grained, micron-sized gold and telluride particles, well suited for both gravity and flotation recoveries. Preliminary studies completed by SGS Lakefield Research suggest gold recoveries of up to in excess of 92 to 95% by these methods alone." Robinson adds "Two drills are currently focused on the testing the lateral and northern limits of the potentially open pitable Eau Claire gold resources."

With regard to Eastmain's latest resource estimate update, Eugene Puritch, P.Eng. President of P&E Mining Consultants Inc. and principal Independent Qualified Person for this project has the following comment: "The Eau Claire Deposit 450 and 850 Zones have exhibited open pit and underground resource gold grades in excess of 4.0 g/t and 7.0 g/t respectively, the likes of which are not often found in this geological and geographical setting. The open pit gold grade in particular is in the order of 3 or 4 times that of which many other exploration projects have recently reported. Additionally, the underground gold grade is also in the order of 50% higher than recent comparable projects. With these high-grade resources, close proximity to custom processing facilities, a road and power, the prospect of a positive economic analysis is very encouraging."

Eugene Puritch, P. Eng., President of P&E, and Dr. Donald J. Robinson P. Geo, President and Chief Executive Officer of Eastmain, both Qualified Persons under National Instrument 43-101 have reviewed and approved the technical data presented in this press release.

Chemical analysis was completed by ALS CHEMEX Laboratories using a 50-gram split and gravimetric techniques. Internal standards provided by an independent company and blank samples were inserted for quality control purposes. Assay samples are taken from HQ core, sawed in half along the core axis, with one half sent to a commercial laboratory and the other half retained for future reference. Sample length approximates true thickness. Core samples are crushed and split with 1 kg pulverized for assay. Core samples containing visible gold were also analyzed by screen metallic methods. Screen metallic samples are screened to 100 microns. 50-gram splits are then fire-assayed using an AAS finish methods.

  1. The current near-term exploration target objective of 2.0 to 2.3 million ounces of gold has been estimated as a potential 25 to 40% increase from recently reported resources of 4,871,000 tonnes Measured and Indicated Resources (M&I) grading 4.60 g/t of gold containing 721,000 oz. and a potential 10 to 15% increase from recently reported Inferred Resources (Inf.) of 6,431,000 tonnes at 5.25 g/t for 1,122,000 ounces of gold (Oct 11, 2012).
Estimated Increase Tonnes Grade (g/t) Ounces
M&I at 25% Increase 6,088,750 4.60 901,250
M&I at 40% Increase 6,819,400 4.60 1,009,400
Inf at 10% Increase 7,074,100 5.45 1,234,200
Inf at 15% Increase 7,395,650 5.45 1,290,300
  1. The above estimates are based on analysis and geologic information obtained from the drilling of 34,211 metres during the 2012 exploration program. However, as per NI43-101/2.3(2a) this target potential is conceptual in nature and it is uncertain whether this drilling and further exploration will results in additional resources at this time.

About Eastmain Resources Inc. (News - Market indicators)

Eastmain is a Canadian gold exploration company with 100% interest in the Eau Claire and Eastmain gold deposits. The Corporation has $10 Million in working capital and holds a pipeline of exploration projects within the James Bay District, including the Éléonore South property. Eastmain has allocated $7 million for drilling the Eau Claire deposit in 2012.

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.



Eastmain Resources Inc.
Dr. Donald J. Robinson
President
(519) 940-4870
(519) 940-4871 (FAX)
or
Eastmain Resources Inc.
Catherine Butella
Exploration Manager
(519) 940-4870
(519) 940-4871 (FAX)
info@eastmain.com
www.eastmain.com
Companies Mentionned : Canadian Gold | Micron | Reliance |
Data and Statistics for these countries :
Gold and Silver Prices for these countries :

Eastmain Resources Inc.

EXPLORATION STAGE
CODE : ER.TO
ISIN : CA27743M1068
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy
Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
Corporate Presentations of Eastmain Resources Inc.
10/16/2009Eric Lemieux, LBS, "Golden Opportunities Giving Positive Out...
9/25/2009Raising Target to $2.20 on Golden Opportunities
In the News and Medias of Eastmain Resources Inc.
6/15/2010Hires SRK to prepare new Eau Claire gold resource estimate
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
12/31/2012Closes $3M Private Placement Financing With Goldcorp Inc.
12/22/2012arranges $3M Private Placement Financing with Goldcorp Inc.
12/2/2011Completes $5.75M Private Placement Financing
12/31/2010$ 178,250 Private Placement & Drilling Update Eau Claire
12/7/2010Completes Private Placement
11/9/2010Announces Private Placement
9/15/2010Closes Private Placement
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
9/17/2013Appoints New Director, New District Geologist
Financials of Eastmain Resources Inc.
9/16/2008Third Quarterly Report as at July 31 2008
Project news of Eastmain Resources Inc.
12/31/2013Clearwater Project - Eau Claire Deposit Exploration Update
12/14/2013Season's Greetings from Eastmain Resources
8/9/2013Analysts on Exploration Update in James Bay - Eastmain Resou...
4/24/2013Trenching and Prospecting Expand Eau Claire Deposit Footprin...
3/22/2013(Radisson)Honey Badger to Begin Drilling on Eastmain's Radisson Projec...
1/17/2013Clearwater Project: Eau Claire Gold Deposit Drilling
12/18/2012Clearwater Project: High-Grade Gold Extends Below Soccer Fie...
12/18/2012Season's Greetings from Eastmain Resources
11/8/2012Clearwater Project: High-Grade Gold Extends Below Soccer Fie...
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...
4/13/2012Clearwater Drilling Underway Visible Gold North of Resource ...
2/28/2012(Radisson)Honey Badger Defines Drill Targets on Radisson Option
2/2/2012Incease in Target - Macquarie Picks Eastmain Resources
1/6/2012Macquarie Picks Eastmain Resources
12/30/2011Exploration Update for 2012
12/15/2011Season's Greetings from Eastmain Resources
11/23/2011Meet the management of Eastmain Resources at the 2011 San Fr...
11/18/2011Meet Eastmain Resources at the 2011 Quebec Exposition
11/15/2011Macquarie Eastmain Resources to Outperform High Grade Open P...
11/7/2011Filling the Gap at the Clearwater Project
9/12/2011Join Eastmain Resources at the 2011 Toronto Resource Investm...
9/6/2011Clearwater Project New Discoveries and Assays
9/6/2011Cleawarer Project New Discoveries and Assays
8/27/2011Struthers' Resource Stock Report
8/17/2011(Radisson)Options Radisson Project to Honey Badger Exploration Inc
8/11/2011(Clearwater / Eau Claire)Visible gold in 10 drill holes as drilling continues to expa...
7/29/2011Mine Project Drilling Underway
7/6/2011CLEARWATER PROJECT \342\200\223 DRILLING UPD...
5/23/2011(Clearwater / Eau Claire)Clearwater Project-Drilling Update Quartz-Tourmaline Veins W...
4/26/2011(Clearwater / Eau Claire)Reports Updated NI 43-101 Mineral Resource Estimate for Eau ...
3/24/2011(Clearwater / Eau Claire)Purchases Clearwater Royalty
3/22/2011(Eastmain Gold Mine)Quebec Approves Northern Plan Investment-Route 167 Extension...
2/11/2011(Clearwater / Eau Claire)Clearwater Project Exploration drill results, Infill & Compo...
1/13/2011(Eastmain Gold Mine)Mine Drilling 16.32 grams Gold per tonne over 5.5 metres inc...
9/24/2010(Eastmain Gold Mine)Mine B Zone Drilling 12.2 grams per tonne Au over 9.5 metres
9/21/2010(Eleonore South)Eleonore South JV Project Drill Program Underway
7/8/2010(Eastmain Gold Mine)Mine A Zone Drilling 7.5 grams per tonne Au over 7.83 metres
6/15/2010(Clearwater / Eau Claire)SRK Consulting retained to prepare NI 43-101 for Eau Claire ...
6/1/2010(Eleonore South)Eleonore South JV Project Drill Program & Budget Approved
4/14/2010(Eastmain Gold Mine)Eastmain Mine Property Drill Program
1/7/2010(Eleonore South)Eleonore South JV Project 1-km-long Gold Halo
12/3/2009Eau Claire Assays & Metallurgy 35 High Grade Gold-Tellurium ...
9/24/2009(Clearwater / Eau Claire)New gold target: 254 g/t Au, 640 g/t Ag & >500 g/t Te High-G...
9/1/2009(Eleonore South)Eleonore South JV Project Drill Program in Progress
8/25/2009(Eastmain Gold Mine)Exploration Underway at Eastmain Mine
7/17/2009(Radisson)Drilling Underway at Eau Claire Gold Deposit - Exploration W...
5/6/2009Eau Claire Drilling Intersects Exceptional High-Grade Gold
4/16/2009(Eleonore South)Eleonore South JV Project 3,500m Drill Program & $1.6M Budge...
2/17/2009(Clearwater / Eau Claire)Definition Drilling Continues at Eau Claire - Metallurgical ...
1/21/2009(Eleonore South)Goldcorp to participate in future exploration at Eleonore So...
12/18/2008(Clearwater / Eau Claire)Eau Claire: 17.99 g/t Au over 4.7 m in T Vein series - 100 v...
12/10/2008(Megatem)Megatem Project Drilling Underway
10/30/2008Eau Claire Gold Deposit - First 20 drill holes hit 51 inters...
9/12/2008(Clearwater / Eau Claire)Visible Gold in another 50 veins at Eau Claire Discovery of ...
8/1/2008Eau Claire Gold Deposit Drilling Underway - Visible Gold in ...
6/12/2008(Clearwater / Eau Claire)Eau Claire Gold Deposit 100 Drill Intersections Average 28.0...
4/2/2008(Clearwater / Eau Claire)Eau Claire Gold Deposit VG samples average 70.74 g/t Au, up ...
Corporate news of Eastmain Resources Inc.
2/24/2014J. Taylor's New Buy Recommendation: Eastmain Resources Inc.
2/21/2014at the 2014 "PDAC"
2/5/2014Announces High Grade Assays at the Eau Claire Gold Deposit
11/9/2013at the 2013 AEMQ Quebec Mining Exploration Conference
11/8/2013Clearwater - Eau Claire Deposit Hole 490 6.38 g/t Au, 10.14...
10/24/2013Clearwater Project-EAU Claire Deposit High Grade Gold Trench...
10/9/2013In Memoriam: William L. Koyle 1940-2013
9/10/2013in the News
8/6/2013Exploration Program Update for James Bay, Quebec
7/12/2013(Radisson)Honey Badger drills four targets at Radisson Project
7/8/2013Fires In James Bay Quebec Cause Evacuations
7/8/2013Evacuation Due to Fires in James Bay, Quebec
4/16/2013Infrastructure Improving at Eastmain's Gold Deposits
3/28/2013Adopts Advance Notice By-Law
1/24/2013Analyst Consensus Unanimous
1/16/2013at the 2013 Vancouver Resource Investment Conference
12/18/2012Arranges $4.31M Private Placement Financing
11/15/2012at the 2012 Quebec Mining Exploration Conference
11/13/2012at the 2012 San Francisco Hard Asset Conference
11/8/2012Clearwater Project High-Grade Gold Extends Below Soccer Fiel...
10/11/2012Reports Updated NI 43-101 Mineral Resource Estimate for Eau ...
9/17/2012at the 2012 Chicago Hard Asset Conference
8/24/2012Clearwater Project Update - Visible gold in 18 vein intersec...
8/24/2012Clearwater Project
7/16/2012Clearwater Project Update - New high-grade gold vein (T10 Ve...
7/16/2012Clearwater Project Update
5/28/2012at the 2012 Vancouver World Resource Conference
5/16/2012interviewed on the Ellis Martin Report
5/15/2012on CEO Clips on the Documentary Channel
4/25/2012Mine Project Drill Results
4/23/2012interviewed on the Ellis Martin Report
4/17/2012Still a Top Pick
4/13/201240,000-m Drill Program Underway at Eau Claire, Clearwater Pr...
2/13/2012Clearwater Continues to Grow!
2/9/2012Clearwater 850 Zone 16.4g/t Gold accross 13.5m
2/9/2012Clearwater Project
1/19/2012Picked by Laurentian
1/4/2012to Outperform - Rodman & Renshaw
12/30/2011Allocates $10 Million for 2012 Exploration in James Bay, Que...
12/19/2011in the News
11/18/2011Announces Private Placement Financing
11/8/2011Adds Confidence and Ounces
10/28/2011Director to be Inducted to the Canadian Mining Hall of Fame
10/27/2011Analysts Agree Eastmain Getting Bigger and Better
10/27/2011Congratulates Dr. John A. Hansuld on Induction to the Canadi...
10/20/2011More New Discoveries 850 Zone Continues to Shine
10/20/2011Clearwater Project
9/27/2011Macquarie Selects Eastmain as Top Pick in Spite of Market Ma...
9/18/2011featured in The Struthers' Resource Stock Report Sept 12, 20...
9/7/2011Macquarie Equities Research: 850 Zone Delivers High Grade.
9/6/2011Clearwater Project
8/26/2011featured in The Struthers' Resource Stock Report
8/11/2011Clearwater Project-Drilling Continues to Expand the 850 West...
7/26/2011The Gold Report Interview with Eric Lemieux
7/13/2011Rodman & Renshaw has initiated coverage of Eastmain Resource...
7/6/2011Clearwater - Gold bearing veins confirmed at 850 West Zone
7/6/2011Clearwater Project-Drilling Update
6/3/2010Mine Property Drilling Update Visible Gold in A-Zone
2/26/2010Closes Placement
1/16/2010Peter Grandich comments on Eastmain Resources on Market Call...
1/21/2010Eau Claire Assays & Metallurgy Up to 12.07 g/t Au over 5.5 m...
11/19/2009Mine Property Anomalous gold detected along 6-km trend.
11/13/2009Eau Claire Drill Assays Multiple Half-Ounce Vein Intercepts
8/11/2009Roger Wiegand, Analyst: Eastmain is among the higher quality...
7/15/2009Peter Grandich picks Eastmain as his favorite in Quebec - th...
6/19/2009Added to New Junior Gold Index
6/11/2009in the News
6/4/2009Peter Grandich Picks Eastmain Resources on Market Call Tonig...
5/27/2009Research Updates and Interviews Confirm Advances at Eastmain...
4/21/2009Visible gold intersected in 27 veins - Eau Claire Winter Dri...
3/12/2009in the News
2/27/2009Al Korelin of the Korelin Economic Report interviews Eastmai...
1/9/2009Research Updates Highlight Advances at Eastmain Resources
9/12/2008Research Updates Confirms Advances at Eau Claire/Clearwater
7/11/2008Ruby Hill Project - Drilling Underway
4/3/2008Laurentian Increases Recommendation
3/20/2008Drilling underway at Eleonore South
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
TORONTO (ER.TO)Other OTC (EANRF)
0.230+0.00%0.200-4.76%
TORONTO
CA$ 0.230
11/21 12:32 -
0%
Prev close Open
0.230 0.225
Low High
0.225 0.235
Year l/h YTD var.
0.180 -  0.550 -16.36%
52 week l/h 52 week var.
0.180 -  0.550 -23.33%
Volume 1 month var.
46,500 -4.17%
24hGold TrendPower© : 3
Produces
Develops
Explores for Copper - Gold - Iron - Lead - Nickel - Platinum - Silver - Sulphur - Zinc
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
Last updated on : 1/23/2010
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
Annual variation
DateVariationHighLow
2014-4.17%
2013-67.12%0.900.19
2012-27.72%1.390.59
2011-51.67%2.170.94
201037.50%2.171.15
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Subscribe to 24hGold’s daily market briefing
  • Prices and data of precious metals in 119 currencies and world mining companies
  • Daily analysis of the economy, markets and more
  • Free, daily and indispensable
Stay informed, subscribe now !
* Your email will never be shared.