what is and what will beEastmain is sitting on a HUGE gold geochemical anomaly. The eastern portion of the anomaly is the strongest. We dont yet know what the geochem values are on east side of the ER/SOI boundary but I can assure you from the maps on the ER site, the anomaly doesn't stop at the border. This area has been partially trenched with one discovery to date - the JT showing. It's wide open and I suspect there are other parallel zones within this HUGE anomaly.
There has been NO DRILLING TO DATE, however this is going to change very very soon. I think that based on the 3 years of exploration to date since Virginia's discovery this target is second to none in the area. The only other target worthwhile so far are the Manuel showings found by Everton (which again have not yet been drilled).
The Eleonore deposit likely holds 4-6 million ounces (and possibly more). Goldcorp will be updating us with a new resource calculation this year. This is a newly emerging gold camp in a very under-explored part of Quebec. James Bay is going to be the hot spot for gold exploration in Canada this year.
I believe that once the first 2 or 3 holes confirm gold in the ground at Eleonore South both Eastmain and Sirios will be trading in the $2.50 range. This would put their value on par with companies such as Kodiak (KXL) which has similar blue sky potential. Eastmain and Sirios will then become attractive takeover targets as further drilling expands the size of the deposit at Eleonore South. Clearly, SOI is the better of the two since it trades under 20 cents a share. Both companies are tremendous buys.
It's been a 3 year wait for me since I bought into this area early, but this year, and in particular, the next 2-3 months are going to be amazing. Get in while it's still cheap and get ready for the ride.