|
Eleonore South JV Project Drill Program Underway
Eastmain Resources Inc. (TSX:ER) announced that a 3,300-metre drill program is underway at the Eleonore South three-way Joint Venture project, located in the Opinaca/Eastmain River district of James Bay Quebec. Les Mines Opinaca Ltee. ("Opinaca"), a wholly-owned subsidiary of Goldcorp Inc. (TSX:G)(NYSE:GG), and Eastmain have agreed to jointly fund a $1.6-million program designed to drill-test the extensions of a sedimentary-hosted discovery at the JT gold zone, as well as other priority targets on the property. Azimut Exploration Inc. ("Azimut") has declined participation in funding its share of the program and will dilute its interest to approximately 27% accordingly. Eastmain and Les Mines Opinaca will each hold about 36.5% of the project upon completion of the current program.
2010 summer field mapping focused on identifying key structural and lithological controls to the gold mineralization at the JT discovery area in relation to those recognized at Goldcorp's Roberto deposit. 3D interpretation of this field data will assist in selecting drill targets within the JT gold zone in addition to identifying other prospective targets in the immediate vicinity.
Situated just 12 kilometres southeast of the multi-million-ounce Roberto Gold deposit, the JT Gold Zone is currently Eleonore South's priority target area. Previous trenching and drilling identified a 1.2-kilometre-long by 100 metre-wide succession of gold-enriched sedimentary rocks similar to those hosting Roberto. A large gold-arsenic geochemical plume evident at the north-end of the JT Zone will be drill tested as part of the current program. The primary objective of this drill campaign is the discovery of ore-grade thicknesses of gold mineralization within the JT Zone, which is open both laterally and at depth.
"The JT Gold zone is one of the most significant and important sedimentary-hosted gold targets identified in the region since the discovery of the Roberto deposit. A systematic and sustained exploration effort is essential in generating opportunities for additional discoveries in the area", states Don Robinson, President and CEO of Eastmain.
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 $20 Million in working capital and holds an interest in 12 projects within the James Bay District, including the Eleonore South property. Eastmain has allocated a budget of $7.5 million for gold exploration in Quebec for 2010.
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. 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 and the availability of financing. 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.
SOURCE: Eastmain Resources Inc.
Eastmain Resources Inc.
Dr. Donald J. Robinson
President
(519) 940-4870
(519) 940-4871(FAX)
Eastmain Resources Inc.
Catherine Butella
Exploration Manager
(519) 940-4870
(519) 940-4871(FAX)
info@eastmain.com
www.eastmain.com
size=2 width="100%" noshade style='color:#0066CC' align=center>
|