Proactiveinvestors recommends
Additional Information
Market: TSX
Sector: Gold Mining
EPIC: ER
Latest Price: 0.85  (-4.55% Descending)
52-week High: 1.50
52-week Low: 0.84
Market Cap: 83.06M
1 year chart
digital-look imported chart image
1 day chart
digital-look imported chart image
Eastmain Resources
www.eastmain.com

Eastmain Resources Inc. is a Canadian exploration company. The Company is actively exploring for gold and base metal deposits within Eastern Canada. Eastmain owns 100% of the Eau Claire gold deposit and has significant land holdings covering key geology adjacent to the Eléonore discovery and the Eastmain gold mine.

Full Eastmain Resources profile here
Pdf

Eastmain Resources reports 582,000 oz M+I gold resource at Eau Claire

26th Apr 2011, 2:05 pm by Deborah Sterescu
Eastmain Resources reports 582,000 oz M+I gold resource at Eau Claire

Eastmain Resources (TSE:ER) announced Tuesday an updated resource estimate for its Eau Claire gold deposit at the Clearwater project in Quebec, revealing a combined measured and indicated resource of 582,000 ounces of gold.

The new NI 43-101 compliant estimate includes more than 42,218 metres of drilling completed at the deposit since the previous report was published in 2005. However, it excludes results of ongoing definition drilling from 2010 and 2011, meaning there is significant potential for expansion.

According to the study, Eau Claire now hosts 3.354 million tonnes at an average grade of 5.39 g/t for 582,000 ounces in the measured and indicated category. In addition, 5.322 million tonnes at an average grade of 5.96 g/t gold, or 1.02 million ounces, is estimated in the inferred category.

Mineralization at the deposit, which remains open in all directions, begins at surface, and continues to a depth of roughly 900 metres.

"This updated mineral resource estimate demonstrates that the Eau Claire gold deposit has excellent potential for both open pit and underground mineral resources at significant grade," said president and CEO Dr. Donald J. Robinson.

"Detailed delineation drilling and surface sampling has improved our understanding of the mineralization at Eau Claire...we believe the likelihood of adding additional resource ounces in the future is high."

Indeed, the company is completing an aggressive 25,000 metre definition and exploration drill program, as well as continued infill sampling to expand open pit material in 2011.

Potential open pit mineral resources were reported at a cut-off of 0.5 g/t gold, whereas potential underground resources were reported at a cut off of 2.5 g/t gold.

Of the combined measured and indicated resource, 452,000 ounces of gold were open pit.

At Eau Claire, more than 30 parallel, gold-bearing quartz-tourmaline veins and alteration zones have been intersected, generally ranging from one to four metres in width.

No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.