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Eastmain Resources Inc.
Summary
| Project: | Clearwater | |
|---|---|---|
| Deposit: | Percival | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 1/15/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 15-1-2019: Eastmain Resources Inc. announces an Exploration/Drilling Update report for its Percival deposit at the Clearwater project. Drilling results incl. 11.0m @ 5.77g/t Au, 124.0g/t Ag from 124.0m. TORONTO, Jan. 15, 2019 -- Eastmain Resources Inc. (“ | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: William McGuinty, Carl Corriveau (Internal) | |
| ABSTRACT: | TORONTO, Jan. 15, 2019 -- Eastmain Resources Inc. (“Eastmain” or the “Company” - TSX:ER, OTCQX:EANRF) reports results for the final three drill holes (887 metres) (“m”) completed in late 2018 at the Percival discovery (“Percival”) on the 100%-owned Clearwater Property (the “Property”) in James Bay, Québec. A total of 3,599 m of drilling was completed at both Percival (see PRs dated Nov. 13, 2018, and Dec. 20, 2018) and the Serendipity Prospect (see PR dated Dec. 21, 2018) during the fall 2018 program. The previously announced Winter 2019 exploration program (20-holes for 5,500 m) will focus on testing the extent and continuity of Percival, beyond the 200 m strike and 250 dip extent tested in 2018. Using a recently completed VTEM survey (final survey results pending), in addition to the Fall 2018 drill results, the program will also follow up on potential prospects along the 14 kilometre (“km”) long Knight-Serendipity volcano-sedimentary horizon (“KS Horizon”). Claude Lemasson, Eastmain President and CEO commented: “Our exploration team is eager and ready to test the district potential of the underexplored 21,000 ha Clearwater Property. At the Percival discovery, we are beginning to better understand the stratigraphic and structural controls of the new discovery, giving us greater clarity and focus for continued exploration. The Winter program will benefit from an additional layer of VTEM™ geophysics for targeting Percival mineralization and the 14 km long KS Horizon. Furthermore, while we continue to explore our Clearwater Property, our engineering team continues pre-development activities to advance the Eau Claire Project.” Percival is located 14 km ESE of the Company’s million-ounce Eau Claire gold deposit1 , within the 20-km long Cannard Deformation Zone (see FIGURE 1) and within the southern segment of the KS Horizon. Percival is a hydrothermal gold system hosted in a thick metasedimentary sequence with locally interbedded intermediate to felsic volcaniclastic rocks. Results from the latest drilling provide further understanding of the mineralization controls, namely by defining lithological and structural settings, within the host stratigraphy while identifying at least two gold mineralized zones within the metasedimentary package (see FIGURES 2-4). | |
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