TSX Symbol: ER
TORONTO, Aug. 25 /CNW/ - Eastmain Resources Inc. ("Eastmain", TSX:ER)
announces that an exploration program is in progress on the Eastmain Mine
property located in northern Québec. Through its wholly-owned subsidiary,
Eastmain Mines Inc., the Corporation owns 100% interest in this 126 km(2)
property, which hosts the Eastmain gold deposit. The current exploration
program is focused on confirming high-potential drill targets both within and
lateral to the gold deposit in preparation for an extensive winter program.
The average grade of 106 holes, previously drilled by Placer Development
Ltd. and others, into A and B Zones of the Eastmain deposit is 18.92 g/t gold
or 0.55 ounces per ton gold (Au), 16.06 g/t silver (Ag) and 0.24% copper (Cu)
across 3.96 metres. Exceptional drill results within the deposit include 46.71
g/t Au (1.36 ounces per ton), 51.47 g/t Ag and 0.29% Cu over 5.09 metres;
53.28 g/t Au (1.56 ounces per ton), 59.20 g/t Ag and 0.20% Cu over 13.2 metres
or 43.3 feet; 125.43 g/t Au (3.66 ounces per ton), 13.80 g/t Ag and 0.12% Cu
across 3.66 metres and 36.73 g/t Au (1.07 ounces per ton), 18.88 g/t Ag and
0.21% Cu over 9.05 metres (Table1 - website).
The Eastmain gold deposit is currently reported to contain 255,750 ounces
of gold and 4.1 million pounds of copper, including measured resources of
91,500 tons grading 0.268 ounces/ton gold and indicated resources of 786,600
tons at 0.294 ounces/ton gold (Campbell Resources Inc., 2004 Annual Report).
These resources are historical estimates and should not be relied upon. These
estimates may not be NI43-101 compliant. Alain Blais is the qualified person
for Campbell. A qualified person for Eastmain has not done sufficient work to
classify the historical estimates as current mineral resources as defined by
In it's 2009-2010 budget, the Province of Québec approved funding in the
amount of $698 million for two road infrastructure projects in Northern
Québec. One of these projects, the extension of Route 167 from Chibougamau to
the Otish mountains, is of great significance to the Eastmain Mine property.
Designed to connect the communities of the Far North and to provide access to
the Albanel-Temiscamie-Otish Park, the Route 167 Extension will also provide
several prospective mining projects, including the Eastmain Mine property,
with access to available infrastructure and man-power from the towns of
Chibougamau and Mistissini. Completion of the Route 167 Extension, also known
as the Route de Monts Otish, is subject to a pre-feasibility study currently
being carried out by Genivar Inc., and subsequent social and environmental
impact assessment studies.
Don Robinson, President and CEO of Eastmain states, "Previous drill
results from the Eastmain gold deposit, combined with its strong geological
similarities to other large Canadian gold deposits, such as the main gold zone
at Detour Lake, attest to the tremendous resource potential of this project.
Based on our experiences at Clearwater, installation of a permanent road will
also dramatically improve access to the project and reduce transportation
costs, allowing us to 'drill more for less'. A wide variety of high-priority
drill targets are evident from work completed to date. We look forward to
advancing this project with a substantial winter drill program."
Dr. Donald J. Robinson P.Geo, is the Qualified Person for the information
contained in this press release and is a Qualified Person within the meaning
of National Instrument 43-101.
About Eastmain Resources Inc. (TSX:ER)
Eastmain is a Canadian gold exploration company with 100% interest in the
Eau Claire and Eastmain gold deposits. The Corporation has $18 Million in
working capital and holds an interest in 12 projects within the James Bay
District, including the Eléonore South property. Eastmain has allocated a
budget of $4.0 million for gold exploration in Québec for 2009.
The statements made in this Press Release may contain forward-looking
statements that may involve a number of risks. Actual events or results could
differ materially from the Company's expectations and projections.
For further information:
For further information: Eastmain Resources Inc.: Dr. Donald J.
Robinson, President or Catherine Butella, Exploration Manager at (519)
940-4870, fax (519) 940-4871, by e-mail: email@example.com or visit our
website at www.eastmain.com