Friday, 10 February 2012

Eastmain Resources hits 1.5 metres of 60.49 g/t gold at Clearwater project

Eastmain Resources (TSE:ER) reported Thursday drilling and trenching results from its Clearwater project in James Bay, Quebec.
Drilling in 2011 focused on testing the 850 West and Gap Zones, located just west of the Eau Claire gold deposit.
Sixty-eight holes were completed at 25 to 50 metre intervals, over an area 550 metres long, by around 300 metres wide, and to a vertical depth of more than 300 metres.
Highlights included 7.00 metres of 3.47 grams per tonne (g/t) of gold in hole ER11-283, including 1.50 metres at 14.82 g/t gold; and 4.30 metres at 10.35 g/t gold in hole ER11-284, including 1.50 metres at 25.53 g/t gold.
In addition, hole ER11-287 returned 13.5 metres of 6.96 g/t gold, including 1.50 metre of a whopping 60.49 g/t gold.
The company said visible gold was observed in 25 drill holes and that several screen-metallic check assays on samples containing visible gold have increased the grade of several of these intervals. Additional assay data is pending, Eastmain added.
Results from the 2011 drill program confirmed, said the company, a stacked series of gold-bearing, quartz-tourmaline veins, ranging from 0.5 to 25.5 metres in thickness, within the 850 West and Gap Zones.
Veins ranged in grade from 0.50 to 60.5 g/t gold, and up to 88.75 g/t tellurium, with an average grade of 6.50 g/t gold over 6.09 metres.
These drill intersections, which are located outside the limits of the previous resource estimate, are expected to boost total gold resources at the Eau Claire gold deposit.
The company said a 40,000-metre, $7 million drill program has been approved for the Clearwater project, where the top priority will be to expand and define gold resources amenable to open pit extraction.
Prospecting, trenching and drilling will continue along the key horizon, extending laterally in both directions from the Eau Claire deposit, Eastmain added.
With regards to the latest trenching data, the company said channel sample information from the Rebecca Collins Soccer Field Trench confirmed "very high grade" gold assays from seven different intervals.
Several continuous high grade intervals included Channel RC-2, grading 8.0 g/t gold across 4.50 metres; channel RC-3, which contains 16.4 g/t gold over 13.5 metres, including 24.0 g/t gold over 8.5 metres and 268.0 g/t gold over a half-metre interval; and channel RC-6, with values of up to 8.4 g/t gold over 7.5 metres, including 13.3 g/t gold over 3.5 metres.
The company said that regional prospecting also located high-grade gold samples within the following target areas - the Pascal, Castor, Boomerang and Knight mineral occurrences.
As previously reported, for example, up to 66.5 g/t gold was discovered in quartz-tourmaline veins at the Pascal showing, 500 metres west of the 850 West Zone.
There remain several targets at the property that have not yet been drill tested, including Pascal, Natel, Vanna, Serendipity and Knight. Additional trenching and definition drilling will continue in 2012 to test these target areas, as well as the resource potential of the RC Soccer Field Trench.
In December, the company closed a $5.75 million financing to fund exploration at the project, and a month earlier, announced more drilling and trenching results from Clearwater, confirming high grade gold within the Gap and 850 West Zones, well outside the limits of the previous gold resource for the Eau Claire deposit.

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