TORONTO, ONTARIO--(Marketwired - Oct 8, 2015) - Eastmain Resources Inc. ("Eastmain") (ER.TO) is pleased to announce that it was awarded the "Discovery of the Year 2015" by the Association de L'Exploration Minière du Quebec ("AEMQ") in a ceremony held last evening in Montreal, Quebec. This award recognizes the importance of Eastmain's recent discoveries, which have significantly led to the expansion and delineation of its Eau Claire gold deposit and to new prospects discovered along the Eau Claire trend.
Each year the AEMQ recognizes and honours those entrepreneurs who make notable contributions to the development of Quebec's mining exploration industry. The Discovery of the Year award is given to highlight the importance of a discovery that produced a significant ripple effect on exploration activities within a property and its surrounding area.
The Clearwater project, which hosts the Eau Claire gold deposit, is located in the James Bay region of the Province of Quebec, 350 kilometres north of Chibougamau and 15 kilometres east of Hydro Quebec's EM-1 power installation. Eau Claire is the 2nd highest grade open pit undeveloped gold resource in North America, within a short list of development-track open pit projects containing more than 500,000 ounces of Measured and Indicated ("M&I") resources at greater than 1.5 g/t. Measured and Indicated open pit resources at Eau Claire, as reported in April, 2015, increased by 53% to 6.8 million tonnes containing 885,000 ounces of gold at an exceptional grade of 4.05 g/t Au.
There is excellent potential to continue to add to Open Pit and Underground M&I Mineral Resources with additional drilling below and lateral to the conceptually constrained pit shell. There is also significant potential for additional discoveries within the Eau Claire belt, where anomalous gold-bearing rock samples have been defined along a key mineralized corridor for over 7.5 kilometres on the Clearwater property. G Mining, Golder Associates and EnviroCree are currently completing a Preliminary Economic Assessment ("PEA") of the project.
"We are extremely honoured to have been selected by our peers as this year's recipient, and sincerely wish to thank the members of the AEMQ. I'd also like to congratulate our exploration team, the geologists, technicians, camp personnel and our many service providers, for their dedication, excellent work and contributions to the success at Clearwater," said Don Robinson, President and CEO of Eastmain.
The Company expresses its gratitude to Dr. Ted Moses and gives special thanks to the Cree First Nations of Eeyou Istchee Baie-James, in particular the Cree Nation of Eastmain, for their continued support our exploration activities. Eastmain would also like to thank its exploration partners, including J.A. McLeod Exploration, Nordic and Chibougamau Diamond Drilling, Panorama Helicopters, Air Roberval, ALS-Chemex, and our numerous suppliers in the communities of Nemiscau, Misstissini and Chibougamau who made significant contributions to the Company's exploration success at Clearwater.
About Eastmain Resources Inc. (ER.TO) - Grade, Geology, Growth
Eastmain is a Canadian exploration company with 100% interest in the Eau Claire and Eastmain gold deposits, both of which are located within the James Bay District of Quebec. Eau Claire, the Company's core asset, has superior infrastructure within a favourable jurisdiction and is royalty free. Eastmain also holds a pipeline of exploration projects in this new Canadian mining district.
For text alerts of Eastmain news and events text EastmainER to 76000.
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.