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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
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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
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Eastmain Resources expands Eau Claire gold deposit

6th Sep 2011, 3:23 pm by Deborah Sterescu
Eastmain Resources expands Eau Claire gold deposit

Eastmain Resources (TSE:ER) said Tuesday that drilling and trenching at its Clearwater project in James Bay, Quebec has continued to "significantly" expand its Eau Claire gold deposit.

Recent drilling intersected multiple quartz-tourmaline veins within the Gap Zone, including two new veins sets, the Mat-Sky and Stephanie, each containing visible gold, the company said.

The Mat-Sky Vein is situated near surface, while the Stephanie Vein occurs at depth.

"Our 2011 exploration program has been very successful in expanding the Eau Claire deposit. Multiple, high-grade, gold-bearing quartz-tourmaline veins and alteration zones have been discovered outside the previous limits of gold mineralization, as defined by the last resource estimate," said president and CEO of Eastmain, Dr. Donald J Robinson.

Hole 314 intersected the Mat-Sky Vein, a 5.2-metre-wide interval containing 2 grains of visible gold at a depth of 22.8 metres, while the Stephanie Vein was intersected in four holes and includes a 2.5-metre-wide interval, at a depth of 266.7 metres, containing 33 grains of visible gold.

Meanwhile, assay data from holes 298 and 303 also confirmed wide, high grade gold intervals from Vein 12, located within the 850 West Zone, 500 metres west of Eau Claire.

"Two drill rigs are currently focused on expanding the 850 Zone to the west, and the Gap Zone to the northeast," Robinson added

"Drill assay data has confirmed wide, high-grade gold intervals within the 850 West Zone, which significantly enhance the open pit resource potential at Clearwater."

Results at 850 West included 12.2 metres of 17.9 grams per tonne (g/t) of gold, including 9.1 metres of 23.9 g/t gold in hole ER11-298, and 10.5 metres of 7.3 g/t gold including 2.5 metres of 23.4 g/t gold in hole ER11-303.

"Assays are pending for several exceptional drill intervals, which also intersect the same gold-bearing structures, and contain abundant visible gold within Vein 12 and the Sophie Vein," the company added in a statement.

In addition, trenching discovered the Conrad Zone and the Valli Veins, both consisting of multiple sets of gold-bearing veins, and located well outside the limits of the Eau Claire deposit, both in a north and south direction.

These newly discovered veins have been exposed in an area which had seen no previous drilling or trenching, Eastmain said.

In 2011, 35 drill holes have been completed at Clearwater thus far, totaling 12,250 metres of a proposed 25,000 metre program.

Eastmain is a Canadian gold exploration company with 100% interest in the Eau Claire and Eastmain gold deposits, which together contain 632,000 ounces of gold in measured and indicated resources, plus 1.02 million ounces of gold in Inferred resources.

Shares of the company advanced 2.3% on Tuesday, to trade at $1.33 as of 2:55pm ET.

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