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Eastmain Expands the Percival Exploration Footprint on the Clearwater Property

TORONTO--(BUSINESS WIRE)--

Eastmain Resources Inc. (“Eastmain” or the “Company” - TSX:ER, OTCQX:EANRF), a gold exploration and development company based in James Bay, Quebec, provides an update on the spring exploration campaign at the Company’s 100%-owned Clearwater Property and the results from the final 4 drill holes (1,537 m) from the Percival discovery winter drilling program (see FIGURES 1-6).

Claude Lemasson, Eastmain President and CEO commented, “The spring field exploration campaign is progressing very well, enhancing and expanding on the 2018 information that ultimately led to making the Percival discovery in November 2018. This field work, combined with the previously completed electro-magnetic surveys, is already demonstrating an improved interpretation of the geology and the potential mineralization at the KS Horizon’s southern leg and will be used to define targets for drilling beginning later this summer.”

2019 EXPLORATION HIGHLIGHTS

  • 2019 Winter Drill Program (see results below) (see FIGURES 2-4)
    • A total of 21 drill holes (6,196 m) completed on Percival, to date
    • 3 main east-trending zones of mineralization traced over an extended east-west strike length of at least 750 m and a north-south width of 250 m
  • 2019 Spring Field Exploration Campaign (see FIGURES 5, 6)
    • May - July: Surface geophysics, geological mapping, trenching and sampling over 5 km strike of the KS Horizon, from the Knight target eastwards
    • Results will be used to identify drill targets, with drilling planned to begin in August

FINAL 2019 WINTER DRILLING PROGRAM RESULTS

Table 1: Significant Intercepts (a complete table of assays can be accessed here)

Drill Hole

From

To

Length

Grade

Vertical

 

 

(m)

(m)

(m)

(Au g/t)

Depth (m)

 

ER19-845

198.9

203.0

4.1

1.63

142

Silicified Breccia

incl. 200.0

201.0

1.0

5.12

316.0

323.0

7.0

3.15

226

Silicified Breccia and Mudstone breccia

incl. 319.0

321.0

2.0

8.17

ER19-846

241.1

248.5

7.4

0.52

173

Silicified Breccia

incl. 245.3

246.3

1.0

1.70

262.0

264.0

2.0

1.22

186

Silicified Breccia

ER19-847

220.0

223.0

3.0

0.90

157

Greywacke

ER19-848

244.2

248.0

3.8

0.80

174

Greywacke

Table 3: Drill hole locations

Target Zone

Drill Hole

UTM Coordinates Zone 18

Azimuth

Dip

Total Length

Elevation

 

 

Easting

Northing

Degrees

Degrees

(m)

(m)

Percival

ER19-845

457,800

5,781,676

360

45

436

328

Percival

ER19-846

457,850

5,781,700

360

45

397

326

Percival

ER19-847

458,003

5,782,007

360

45

343

331

Percival

ER19-848

458,076

5,781,957

360

45

361

327

KS Horizon Field Exploration Campaign (see FIGURES 5, 6)

The helicopter-supported field campaign began May 22, exploring the previously identified KS horizon, beginning at the Knight showing, across the Percival discovery area and for 5 km further east along the general strike of the Cannard Deformation zone. The program consists of:

Prospecting and mapping along North-South lines spaced 50 m apart will give particular focus to VTEM and soil geochemistry anomalies identified in the fall of 2019, targeting Percival-type pyrrhotite-bearing breccia and silicified breccia units and iron formations. The team will take advantage of relatively shallow overburden and use Beep-Mat magnetic susceptibility and EM conductivity instruments to identify shallow bedrock anomalies and prioritize exposure and exploration of buried targets.

Mechanical trenching (excavator), follow-up mapping and channel sampling will be conducted on priority targets identified by mapping and prospecting. The excavator is currently exposing bedrock above several 2018-2019 Percival drill sections, including the initial discovery holes (ER18-822, ER18-823). Trenching will move progressively eastward as the program progresses and results are received.

Recent Drilling Results (see FIGURES 2-4)

Hole ER19-845 and ER19-846 collared 100 m and 150 m east of the Percival discovery holes respectively. Both undercut mineralization intersected at higher intervals, establishing downward continuity of mineralization on these sections. Hole ER19-845 intersected two silicified breccia intervals (4.1 m of 1.63 g/t Au and 7.0 m of 3.15 g/t Au each at approximately 100 m vertically below similar breccias identified in hole ER18-837 (1.55 g/t Au over 11.0 m, vertical depth of 125 m, see press release March 21, 2019).

Hole ER19-846 undercut holes ER19-838 and ER19-839 (2.57 g/t Au over 14.5 m, vertical depth of 60 m, see press release May 13, 2019). Intervals of silicified breccia returning 0.52 g/t Au over 7.4 m at 173 m vertically and 0.23 g/t Au over 14.0 m at 213 m vertically are interpreted as a 100 m downward continuation of interval intersected in holes ER19-838 and ER19-839. This interpretation also suggests a lateral transition between the strongly silicified breccias seen in the discovery holes and lesser silicified mudstone and siltstone breccias.

Both holes ER19-847 and ER19-848 intersected the KS Horizon metasedimentary sequence, including graphitic siltstones, mafic volcaniclastics, argillites and mudstones, but with fewer intervals of sedimentary or silicified breccia. Both holes returned narrow intervals of anomalous gold. These holes may have been drilled too far to the north in the KS stratigraphy. The surface exploration programs will be used to resolve stratigraphy and determine further drill targets in this area.

To view additional assay results in Table 2, please click on the following link: http://www.eastmain.com/_resources/news/Images/ER-190627-Table2-Percival.pdf.

To view Figures 1-6, please click on the following link: http://www.eastmain.com/_resources/news/Images/ER-190627-Percival.pdf.

For additional information on the Geology of the Percival Discovery and the KS Horizon, please visit: http://www.eastmain.com/projects/clearwaterexploration/.

This press release was compiled and reviewed by William McGuinty, P.Geo., Eastmain’s VP Exploration, a Qualified Person under National Instrument 43-101.

Quality Assurance and Quality Control (QA/QC)

The design of the Eastmain Resources’ drilling programs, Quality Assurance/Quality Control and interpretation of results is under the control of Eastmain’s geological staff, including qualified persons employing a strict QA/QC program consistent with NI 43-101 and industry best practices. The Clearwater project is supervised by Eastmain’s Project Geologist, Michel Leblanc P. Geo.

Drill core is logged and split with half-core samples packaged and delivered to ALS Minerals laboratory. Samples are dried and subsequently crushed to 70% passing a 2 mm mesh screen. A 1,000 grams subsample is pulverized to a nominal 85% passing 75-micron mesh screen. The remaining crushed sample (reject) and pulverized sample (pulp) are retained for further analysis and quality control. All samples are analysed by Fire Assay with an Atomic Absorption (AA) finish using a 50 g aliquot of pulverized material. Assays exceeding 5 g/t Au are re‐assayed by Fire Assay with a Gravimetric Finish. Eastmain regularly inserts 3rd party reference control samples and blank samples in the sample stream to monitor assay performance and performs duplicate sampling at a second certified laboratory. Approximately 10% of samples submitted are part of the Company’s laboratory sample control protocols.

About Eastmain Resources Inc. (ER.TO) www.eastmain.com

Eastmain is a Canadian exploration company advancing three high-grade gold assets in the emerging James Bay gold camp in Québec. The Company holds a 100%-interest in the Clearwater Property, host of the Eau Claire Project, for which it issued a Preliminary Economic Assessment (“PEA”) in May 2018, and the Percival Discovery made in November 2018. Eastmain is also the operator of the Éléonore South Joint Venture, located immediately south of Goldcorp Inc.'s Éléonore Mine, which hosts the Moni/Contact Trend Discovery (2017). In addition, the Company has a 100% interest in the Eastmain Mine Project where the Company prepared a NI 43-101 Mineral Resource Estimate in January 2018, and a pipeline of exploration projects in this favourable mining jurisdiction with nearby infrastructure.

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. Forward-looking statements consist of statements that are not purely historical, including statements regarding beliefs, plans, expectations or timing of future plans, and include, but not limited to, statements with respect to the potential success of the Company’s future exploration and development strategies. 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, timely completion of proposed studies and technical reports, and risks associated with the exploration, development and mining industry generally such as economic factors as they effect exploration, future commodity prices, changes in interest rates, safety and security, political, social or economic developments, environmental risks, insurance risks, capital expenditures, operating or technical difficulties in connection with development activities, personnel relations, the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of Mineral Resources, contests over property title, and changes in project parameters as plans continue to be refined. Readers are cautioned that the assumptions, used in the preparations 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. The Company assumes no obligation to update such information, except as may be required by law.

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