Eastmain Drills 14.5 m of 2.57 g/t Au Near-Surface in an Eastward Step-out Hole at Percival Discovery, Clearwater Property

Gold, Silver & Base Metals

May 13, 2019 (Source) — Eastmain Resources Inc. (“Eastmain” or the “Company” – TSX:ER, OTCQX:EANRF) is pleased to report results for 7 drill holes (1,767 metres (“m”)) in the 2019 winter program at the Percival discovery (“Percival”), on the 100%-owned Clearwater Property in James Bay, Québec (see FIGURES 1-6). Winter drilling is now complete, with 17 drill holes totaling 4,659 m. Assays are pending for the 4 remaining holes of the program.

Program Highlights:

  • Identification of 3 main east-trending zones of mineralization
    • Over an extended east-west strike length of at least 650 m and a north-south width of 250 m
  • ER19-839: 2.57 grams per tonne gold (“g/t Au”) over 14.5 m (vertical depth of 60 m), including 4.66 g/t Au over 7.0 m (mudstone breccia), and 9.40 g/t Au over 2.0 m
    • Extends mineralization to 200 m east of the Percival discovery holes and 50 m further east of any previous results (see FIGURE 5)
  • First instance of a significant gold intercept in a graphitic shale unit
    • ER19-840: 0.28 g/t Au over 83.4 m (vertical depth of 153 m) (see FIGURE 3)
  • Extension of mineralized silicified breccias to depth by 100 m
    • ER19-844: 0.62 g/t Au over 44.8 m (vertical depth of 210 m) (silicified breccia and mudstone) extends mineralization by 100 m to over 210 m vertical depth (see FIGURE 4)
  • Follow-up Ground Exploration Spring Campaign (May-July)
    • Surface geophysics and mapping, including trenching and sampling on key targets, eastward from Percival for 5 km along the KS Horizon (see FIGURE 6)

Claude Lemasson, President and CEO commented: “The results of the step out drilling to the east are beginning to illustrate three gold zones appearing over a significant strike of 650 m. The zones appear to converge as the mineralization continues east. Using the VTEM and ground MaxMin surveys completed earlier this year as key vectors, our drilling was able to successfully extend the gold zones from the discovery holes. We are quite excited to continue exploring this discovery and related new exploration targets so close to our Eau Claire Project.”

Table 1: Significant Intercepts (a complete table of assays can be accessed here)

Drill Hole From To Length Grade Vertical Host
(m) (m) (m) (Au g/t) Depth (m) Lithology
ER19-838 156.0 157.0 1.0 5.63 111 Mudstone breccia
ER-19-839 81.0 95.5 14.5 2.57 62 Mudstone breccia
incl. 82.0 89.0 7.0 4.66 60
also incl. 85.0 87.0 2.0 9.40 61
ER18-840 92.0 99.9 7.9 0.87 68 Siltstone
174.6 258.0 83.4 0.28 153 Graphitic shale
incl. 174.6 233.0 58.4 0.34 144
also incl. 210.5 215.7 5.2 1.02 151
ER19-843 205.0 219.5 14.5 0.52 150 Shale
ER19-844 234.2 279.0 44.8 0.62 180 Silicified and mudstone breccias
incl. 234.2 239.0 4.8 2.07
incl. 266.0 269.0 3.0 1.73
  • Intervals are presented in core length; holes are generally planned to intersect mineralization as close to perpendicular to strike as possible; true widths are estimated to be 75% of downhole length when hole and dips of the mineralized horizons are considered.
  • Assays results presented are not capped. Intercepts occur within geological confines of major zones but have not been correlated to individual structures/horizons within these zones at this time.
  • Vertical depth is measured from the surface to the mid-point of the reported interval.

Drilling Results

Drill holes reported in this press release extended the KS Horizon stratigraphy along strike for 450 m west of and 200 m east of the Percival discovery holes, ER18-822 and ER18-823.

Holes ER19-838 and ER19-839 extend the known Percival mineralization 50 m further along strike to the east. The holes are drilled on the same section and intersect a steeply dipping mudstone breccia sequence with interbeds of metamorphosed iron formation and Percival-type silicified breccia. These holes show a continuation of the iron formation units first identified 100 m and 50 m to the west in Holes ER19-836 and ER19-837 respectively, as well as the first indication of anomalous gold mineralization related to this lithology.

Hole ER19-840 was collared 150 m west of the Percival discovery holes. This hole intersected an 8 m interval of anomalous gold mineralization which is interpreted as the western extension (40 m) of a similarly anomalous shale/siltstone unit intersected in hole ER18-825 (0.25 g/t Au over 13.9 m). This hole also intersected a wide interval of anomalous mineralization at depth in a graphitic shale sequence. This intercept is unique for its persistent gold mineralization throughout a thick graphitic sequence in the Percival area where gold mineralization has been mainly associated to silicification. Hole ER19-840 has added to the resolution of a mineralized graphitic sequence to the north, and in the footwall of the Percival stratigraphy.

Hole ER19-844 was collared to undercut hole ER18-833 and ER19-836 and was successful at intersecting silicified breccia horizons of the Percival stratigraphy at 100 m vertical depth below the previously intercepted level.

Holes ER19-841, ER19-842 and ER19-843 (from west to east) tested HLEM anomaly areas between the Knight prospect and Percival. These holes intersected what are interpreted as the northern and southern stratigraphic boundaries of the Percival sedimentary package. The boundaries are defined by basalt units and of graphitic mudstones, mudstone breccias and weak silicified breccia to the north and south of the Percival sedimentary sequence. The holes indicate a possible westerly closure of the sequence in this part of the KS Horizon. Hole ER19-843 intersected a 14.5 m core interval hosted by silicified shales which corresponds to a mineralized interval identified in hole ER18-825 and ER18-840.

Table 3: Drill Hole Information

Target Zone Drill Hole UTM Coordinates Zone 18 Azimuth Dip Total Elevation
Number Easting Northing Degrees Degrees (m) (m)
Percival ER19-838 457,852 5,781,828 360 -45 217 331
Percival ER19-839 457,852 5,781,870 360 -45 166 330
Percival ER19-840 457,502 5,781,667 360 -45 307 325
Knight ER19-841 457,202 5,781,799 360 -45 193 337
Percival ER19-842 457,251 5,781,642 360 -45 163 317
Percival ER19-843 457,352 5,781,581 360 -45 349 318
Percival ER19-844 457,753 5,781,671 360 -45 372 332

To view additional assay results in Table 2, please click on the following link: http://www.eastmain.com/_resources/news/Images/ER-190513-Table2-Percival.pdf.

To view Figures 1-6, please click on the following link: http://www.eastmain.com/_resources/news/Images/ER-190513-Percival.pdf.

For additional information on the Geology of the Percival Discovery and the KS Horizon, please visit: http://www.eastmain.com/projects/clearwaterexploration/.

This press release was compiled and reviewed by William McGuinty, P.Geo., Eastmain’s VP Exploration, a Qualified Person under National Instrument 43-101.

Quality Assurance and Quality Control (QA/QC)

The design of the Eastmain Resources’ drilling programs, Quality Assurance/Quality Control and interpretation of results is under the control of Eastmain’s geological staff, including qualified persons employing a strict QA/QC program consistent with NI 43-101 and industry best practices. The Clearwater project is supervised by Eastmain’s Project Geologist, Michel Leblanc P. Geo.

Drill core is logged and split with half-core samples packaged and delivered to ALS Minerals laboratory. Samples are dried and subsequently crushed to 70% passing a 2 mm mesh screen. A 1,000 grams subsample is pulverized to a nominal 85% passing 75-micron mesh screen. The remaining crushed sample (reject) and pulverized sample (pulp) are retained for further analysis and quality control. All samples are analysed by Fire Assay with an Atomic Absorption (AA) finish using a 50 g aliquot of pulverized material. Assays exceeding 5 g/t Au are re‐assayed by Fire Assay with a Gravimetric Finish. Eastmain regularly inserts 3rd party reference control samples and blank samples in the sample stream to monitor assay performance and performs duplicate sampling at a second certified laboratory. Approximately 10% of samples submitted are part of the Company’s laboratory sample control protocols.

About Eastmain Resources Inc. (TSX:ER) www.eastmain.com

Eastmain is a Canadian exploration company advancing three high-grade gold assets in the emerging James Bay gold camp in Québec. The Company holds a 100%-interest in the Clearwater Property, host of the Eau Claire Project, for which it issued a Preliminary Economic Assessment (“PEA”) in May 2018, and the Percival Discovery made in November 2018. Eastmain is also the operator of the Éléonore South Joint Venture, located immediately south of Goldcorp Inc.’s Éléonore Mine, which hosts the Moni/Contact Trend Discovery (2017). In addition, the Company has a 100% interest in the Eastmain Mine Project where the Company prepared a NI 43-101 Mineral Resource Estimate in January 2018, and a pipeline of exploration projects in this favourable mining jurisdiction with nearby infrastructure.

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. Forward-looking statements consist of statements that are not purely historical, including statements regarding beliefs, plans, expectations or timing of future plans, and include, but not limited to, statements with respect to the potential success of the Company’s future exploration and development strategies. 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, the availability of financing, ýtimely completion of proposed studies and technical reports, and risks associated with the exploration, development and mining industry generally such as economic factors as they affect exploration, future commodity prices, changes in interest rates, safety and security, political, social or economic developments, environmental risks, insurance risks, capital expenditures, operating or technical difficulties in connection with development activities, personnel relations, the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of Mineral Resources, contests over property title, and changes in project parameters as plans continue to be refined. 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. The Company assumes no obligation to update such information, except as may be required by law.