Description
Eastmain is a Canadian gold exploration company with 100% interest in the Eau Claire and Eastmain gold deposits. The Corporation has in excess of $20 Million in working capital and holds an interest in 12 projects within the James Bay District, including the Éléonore South property, where a gold discovery has been found in a similar geologic setting to Goldcorp’s Roberto deposit. Eastmain has an annual budget of $4 million for gold exploration in Québec.
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In-depth Eastmain Resources Proactive Investors Articles
- 03/03/2010 Eastmain Completes $5 million Flow Through Financing
- 16/11/2009 Eastmain Resources Eau Claire assays multiple half-ounce intercepts
- 24/09/2009 Eastmain Resources – Discovers a new gold target
- 26/08/2009 Eastmain Resources – Exploration Underway at Eastmain Mine
- 07/05/2009 Eastmain Resources Eau Claire Drilling Intersects Exceptional High Grade Gold
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Company Statement:
The future looks bright for Eastmain Resources Inc. Improving infrastructure at Clearwater will furnish Eastmain with the opportunity to advance development at the Eau Claire gold deposit. Ready-access to the property reduces the transportation and shipping costs of exploration and increases the profitability of ore. With a dwindling world gold reserve, senior mining companies are vying for undeveloped resources and partnerships with proactive junior explorers like Eastmain. As gold continues to trend higher, investors can expect periodic spikes and short term dips in price. These dips will also be reflected in the share price of companies that explore for this lustrous metal, providing buying opportunities for the astute investor and opening doors for savvy explorers to negotiate progressive new ventures. Well-run companies, like Eastmain Resources, will take advantage of such opportunities to strengthen their business plans. Knowing that long-term upward trends in the price of gold will add further value to their acquisitions, Eastmain will continue to seek new projects that can significantly add ounces to our growing gold assets.
Current Operations:
Quebec Projects
(for more information on these projects click here)
01. Clearwater:
The company's flagship gold project, located in the James Bay Lowlands of Québec, hosts the Eau Claire deposit. Eastmain holds a 100% interest in the project subject to a 2% NSR held by SOQUEM Inc. As of 2005, Eau Claire contains an estimated resource of 310,000 ounces of gold (indicated) and 680,000 ounces of gold (inferred) resources - see full project description). The deposit is open in all directions. High-grade veins exposed at surface, which range from 18.1 to 118 gpt gold (0.53-3.45 oz/ton), have been traced continuously to below 900 metres. Over the past 16 months definition drilling has intersected over 1000 gold-bearing vein and schist zones confirming a near surface high grade deposit.
02. Eleonore South:
Eleonore South is a joint venture project with Goldcorp, Eastmain and Azimut. A 14 kilometre-long gold-in-soil anomaly, detected from 2005 surveys, occurs on the south boundary of Goldcorp's Eleonore property. A $1M exploration program is underway on this mine-scale Roberto-type gold target.
03. Ruby Hill:
Ruby Hill consists of 11,677 hectares in two properties covering the lateral extension of the Eastmain Gold Mine. Ruby Hill is overlain by felsic to ultramafic rocks of the Upper Eastmain River greenstone belt. Similar ultramafic assemblages found elsewhere in Canada and Western Australia host economic nickel-copper-platinum deposits. Geochemical signatures on the property suggest that Ruby Hill may also be prospective for these types of deposits. Eastmain Resources Inc. has an option to earn 100% interest in the project.
04. Dyna:
Eastmain holds 100% of this 18,616-hectare property located in the Opinaca greenstone belt near the Eléonore project. Several rusty zones with geochemical responses similar to those found at Roberto have been discovered on the property.
05. Lac Elmer:
Eastmain and Barrick Gold Corporation jointly own this exploration permit in the western end of the Eastmain River Greenstone Belt. Geologically similar to Ontario's 30-million-ounce Hemlo mine and the gold mines of Val d'Or, Québec, Lac Elmer hosts a 12-km-long mineralized horizon enriched in gold, silver, copper and zinc. Grades to 132 gpt gold (3.85 oz/ton) and 1,000 gpt silver (29.2 oz/ton) were obtained in this zone. Quartz veins in extremely altered rocks assayed in excess of 100 gpt gold (2.92 oz) with several ounce-grade intersections.
06. Lac Hudson:
This wholly-owned property, located in the central portion of the Eastmain Belt, covers prospective geology similar to that hosting Placer Dome's Musselwhite gold mine. Preliminary work detected anomalous gold and base metal concentrations in sulphide facies iron formation and cherty exhalite horizons. Cursory drilling intersected up to 7.9 gpt gold across 1.28 metres (0.23 oz / 4.2 ft), including 15.2 gpt gold (0.44 oz) and 22.3 gpt silver (0.65 oz) over 0.6 metres (2 ft).
07. Lidge:
This 1024-hectare property, located 250 km north of Matagami, hosts a stratabound, pyritic gold horizon geologically similar to the Bousquet and Hemlo mines of the Canadian Shield. Early drilling intersected up to 11.42 gpt gold over 1.3 metres (0.33 oz/ton/ 4.3 ft) within a pyrite-pyrrhotite-fuchsite bearing cherty tuff.
08. Radisson:
20,340 hectares of Archean-aged volcanic-sedimentary rocks hosting multiple gold occurrences. Accessible by logging road, the property is located 550 km north of Matagami, 10 km west of the LG2 Hwy. The best assays include grabs to 11.9 gpt gold (0.35 oz) and channel samples of 2.1 gpt gold over 1.3 metres.
09. Reservoir:
Located in the central part of the Eastmain Greenstone Belt, 60 km southwest of the Roberto discovery, this 8,226-hectare property is owned entirely by Eastmain. Wide-spaced drilling identified three copper-gold zones grading up to 8.15% copper, 36 gpt gold (1.05 oz) and 52 gpt silver (1.52 oz). A 10-million-tonne copper-gold mineralized envelope surrounds this 1.8 km-long metal prospect. Reservoir is geologically analogous to the 10-million-ounce McIntyre Gold mine at Timmins and shows many similarities to Virginia's Eléonore project.
10. Road King:
A regional copper-arsenic anomaly covers a portion of this 109-claim property wholly owned by Eastmain. A 10-km-long sedimentary-volcanic horizon prospective for Hemlo-type sedimentary hosted gold mineralization straddles the LG-2 Hwy north of the Eastmain River.
Ontario Projects
(For more information onthese projects click here)
01. Abitibi MegaTEM JV Project:
This Joint Venture with Falconbridge (65% ER/35% Falco) covers over 14,500 kms of the prolific Abitibi Greenstone Belt - one of the richest mineral belts in the world. State-of-the-art airborne technology developed by Falconbridge and Fugro has detected at least 225 top-priority geophysical anomalies that warrant drill-testing. Any one of these targets could become a "company maker".
02. Abitibi Extension:
The Abitibi Extension Project comprises properties prospective for gold, base metals and diamonds covering the un-explored western extension of the prolific Abitibi Greenstone Belt. Airborne surveys flown by BHP confirmed that rocks of the $120-Billion metal-producing belt extend onto Eastmain ground. Eastmain is now the sole owner of this exclusive data. Dianor Resources Inc. has an option to explore the area.
03. Akweskwa:
A stratabound pyritic horizon enriched in gold, silver and zinc, similar to ore-bearing rocks at the Hemlo and Bousquet mines, has been traced for over 3 km. Drilling intersected up to 18.5 gpt gold (0.54 oz) and 6.2 gpt silver.
04. Kidd Project:
This Eastmain option covers base metal VMS claims 2.5 km east of Falconbridge's 160-million-tonne Kidd Creek Mine.
New Brunswick Projects
(For more information on these projects click here)
01. Railroad:
Railroad is situated immediately south of past-producing Heath Steele Mine (25M tonnes) and about 45 km southwest of the 165-million tonne Brunswick 12 zinc-lead-silver mine. This 6,400-hectare property hosts several major base-metal prospects in key Brunswick mine rocks. Drilling intersected multiple high-grade horizons in base-metal rich sulphide zones. The best assay included 33.4% zinc, 17.0% lead, 0.4% copper and 342 gpt silver (10 oz).
02. RockyLake/Otterbrook:
75% Eastmain, 25% McBroom Resources. The properties are comprised of 55 claims flanked by the Half-Mile Lake, Stratmat and Wedge deposits. Drilling has defined significant zones of alteration containing copper-zinc sulphides.
03. Tingley Brook:
75% Eastmain, 25% Bubbee Ventures Inc. Properties cover land geologically similar to that hosting giant Brunswick deposits. Work on the southern-most claims suggests a possible deep-seated source for base metal. The Sandburn West block, located immediately west of the Railroad group, is geologically similar to the Key Anacon VMS base metal deposit. Drilling has traced wide sulphide-rich zones and iron formation for over 3 km.
Management
Donald J. Robinson - President, CEO & Director
James Bezeau - Chief Financial Officer
Jay Goldman - Corporate Secretary
Cathy I. Butella - Exploration Manager
Chad Steward - Investor Communications
John A. Hansuld - Director, Audit Committee
Ian Bryans - Director, Audit Committee
Richard W. Hutchinson - Director
William L. Koyle - Director, Audit Committee
Neil Hillhouse - Special Advisory Board
For more information on Eastmain's Directors click here
Major Shareholders
For investor information fact sheet (2009) click here
Contact Information
CORPORATE ADDRESS
36 Toronto Street,
Suite 1000
Toronto, Ontario
Canada
M5C 2C5
EXPLORATION OFFICE
834572 4th Line,
Mono Twp,
RR#1
Orangeville, Ontario
Canada
L9W 2Y8
Tel: 519-940-4870
Fax: 519-940-4871
Email:info@eastmain.com
Corporate Information
No info available.
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