Eastmain JV drills 76.1 g/t gold over 1.55 m at Éléonore South

Eastmain Resources Inc. [ER-TSX] and its JV partners have received assays of the final seven drill holes (1,455 m) from the 12-hole, Phase 1 drilling program (2,510 m), and new prospecting results from the Éléonore South JV Property, in the central James Bay district, northern Quebec. The project is approximately 5k from Goldcorp’s producing Eleonore mine and adjacent to the border of the Éléonore property.

The Éléonore South property is a three-way joint venture among Eastmain, (36.7%), Azimut Exploration, (26.6%), and Les Mines Opinaca Ltée., (36.7%), a wholly-owned subsidiary of Goldcorp Inc. [G-TSX; GG-NYSE]. Azimut is the JV manager of the current program, which includes Phase 2, to be completed in 2017.

Drilling Highlights:

-       1.14 g/t gold over 6.0 m from 153.0 m (Hole ES16-54)

-       1.58 g/t gold over 12.0 m from 147.0 m, including 4.67 g/t gold over 2.7 m (Hole ES16-55)

-       76.1 g/t gold over 1.55 m from 152.95 m (Hole ES16-57)

Boulder Grab Sample Highlight:

-       247 g/t gold (sub-angular boulder sample with visible gold)

Claude Lemasson, Eastmain President and CEO, said, “These early stage results demonstrate the property’s potential for high-grade gold mineralization associated with a large-scale intrusion-related hydrothermal system. Of significance, all ten of the Phase 1 drill holes within the prospective corridor’s tonalite intrusion encountered mineralization and most holes recorded several intercepts per hole.”

Gold mineralization identified in the first phase of the 2016 program occurs in a prospective corridor at least 3 km long by 500 m wide within a tonalite intrusion. The corridor is bounded to the south by metasediments.

The preliminary interpretation of the first phase of drilling results indicate a potential for high-grade gold mineralization related to late-magmatic quartz-feldspar pegmatites and strongly altered biotite-actinolite schist hosted by the tonalite intrusion. Other mineralized zones may be present in this part of the property, including the southern tonalite-metasediment contact.

The Phase 2 drilling program (2,500 m) will begin in early 2017 after a thorough data integration and interpretation.

Prospecting:

A total of 28 grab samples were collected mostly from outcrops.  Grab samples are selective by nature and unlikely to represent average grades. The gold results have been summarized by Azimut as follows: 11 samples returned grades higher than 0.1 g/t gold, including seven samples with values higher than 0.5 g/t gold.  The most significant value is a sub-angular boulder of quartz-feldspar pegmatite with disseminated arsenopyrite and visible gold, which assayed 247 g/t gold .