Gold and Silver miners (Jr and Exploration)

[Edge83]

Eastmain and Partners obtain More High-Grade Gold Results from Eleonore South, James Bay region, Québec

Toronto, Ontario, November 16, 2017 - Eastmain Resources Inc. (“Eastmain” or the “Company”- TSX: ER, OTCQX:EANRF) is pleased to announce the discovery of additional high-grade gold mineralization on the Éléonore South JV Property in the James Bay region of Qubec. The results come as the partnership focuses on recent surface discoveries at the Moni Prospect and along the highly prospective exploration corridor which extends for more than a kilometre to the SW. (See FIGURES 1 to 6). The best grab samples reach very high grades, from 833 g/t Au up to 1,500 g/t Au in boulders and up to 26.1 g/t Au in outcrop. These new results were obtained during follow-up work along the 1.8-km-long highly prospective NE-SW trend on strike with the Moni Prospect (79.6 g/t Au over 4.25 m and 79.5 g/t Au over 5.87 m, see press release of October 17, 2017).

During this recent prospecting phase, a total of 20 grab samples were collected in two areas (101 Prospect, Trench Prospect). Grab samples are selective by nature and unlikely to represent average grades. Rock sampling returned 11 samples with grades higher than 1.0, g/t Au, including 8 samples with grades above 15.0 g/t Au. Selected results are presented below:


The 101 Prospect is located 400 m SW of the high-grade Moni Prospect. Mineralization is related to a network of NE-SW trending, sub-vertically dipping quartz-feldspar pegmatitic veins and veinlets with native gold, hosted in strongly altered tonalite. Previous outcrop sampling in the prospect area returned up to 101 g/t Au.

The Trench Prospect is located 650 m SW of the Moni Prospect (250 m SW from the 101 Prospect). The very high-grade values were obtained from samples of angular boulders of quartz-feldspar-(biotite) pegmatitic veins with native gold. These samples may correspond to a larger dismantled boulder. Mineralized tonalite boulders with arsenopyrite are also found in close proximity. Previous prospecting returned 247 g/t Au from a grab sample in the same area. The area is also marked by a strong gold-arsenic soil anomaly. It is believed these mineralized boulders come from a nearby source.

The Moni Trend, which includes the Moni Prospect, 101 Prospect and Trench Prospect, strikes NE-SW over a length of 1.8 km. It is highlighted by strong gold-arsenic anomalies in soil, and an apparent correlation with a NE-SW magnetic trend (see attached figures). Previous drilling within this area is very sparse and did not target this mineralization type, except for one hole that returned 8.88 g/t Au over 2.5 m (Hole 16-48). Previously reported encouraging drill results, including 76.1 g/t Au over 1.55 m (Hole ES 16-57), underscore the high gold-bearing potential of the area.

Planning for continued exploration of the area in 2018 programs is underway and will use geochemical and geophysical tools, intensive prospecting, mechanized stripping and systematic drilling.

Gold Potential

Exploration work since 2016 has demonstrated the presence of a 4-km-long by 500-m-wide gold-bearing corridor related to a hydrothermally altered tonalite intrusion and its contact with metasediments.

Two main target types are identified within the tonalite intrusion:


A high-grade gold-bearing quartz-feldspar pegmatitic vein system with native gold ("Moni-type"). The extent and geometry of this mineralized system remain largely undefined, but surface results at the Moni Prospect clearly indicate the potential for significant grades grade and NE-SW continuity.
Kilometre-scale zones of considerable width, characterized by a quartz-albite-biotite stockwork or a network of quartz-albite veinlets of variable density, with small amounts of sulphides (arsenopyrite, pyrite, pyrrhotite) and frequent disseminations of native gold.

Both types are interpreted to be part of an extensive late-magmatic hydrothermal system related to the tonalite intrusion. In this geological environment, the surrounding metasediments may also constitute potential targets depending on favourable lithological and structural settings.

As an expression of the strong regional potential, the intrusion-hosted mineralization at Éléonore South bears similarities in type and age with sparse high-grade quartz-feldspar-arsenopyrite-pyrrhotite-VG veins transforming into pegmatitic material found near the Éléonore deposit. These veins are near a monzonite intrusion just north of the Roberto deposit. The mineralized pegmatite at the mine is the same age as Eleonore South's tonalite (2.62 billion years).

Pending Results and Upcoming Drilling

The results of 18 diamond drill holes totalling 4,443 m will be released as soon as all results are received and compiled. The objectives are to: a) further assess the grade and continuity of significant drill results intersected in the tonalite intrusion by the partners over the last 18 months; and b) continue drill testing the 4-km-long by 500-m-wide corridor, particularly south of the JT Prospect where the intrusion-metasediment contact changes direction.

A new diamond drilling phase of 3,600 m is scheduled for January 2018. The program will be designed to follow up on drill results and test new high-grade targets along the Moni Trend.

Analytical Protocol

Rock samples were sent to ALS Minerals in Val-d'Or, Quebec. Gold was analyzed by fire assay with atomic absorption, and with gravimetric finish for grades above 3.0 g/t Au. Azimut applied industry-standard QA/QC procedures to the program.

About the Eleonore South JV Property

The Eleonore South Property is a three-way joint venture between Azimut Exploration Inc., Eastmain Resources Inc. (TSX:ER) and Les Mines Opinaca Ltée (“Opinaca”), a wholly-owned subsidiary of Goldcorp Inc. (TSX:G, NYSE:GG). Ownership in the Property is as follows: Azimut 26.6%, Eastmain 36.7% and Goldcorp 36.7%.

The 2017-2018 program is operated by Azimut under the supervision of Dr. Jean-Marc Lulin and the field direction of François Bissonnette, both professional geologists and qualified persons under National Instrument 43-101. This press release was prepared by Jean-Marc Lulin, acting as Azimut’s qualified person. This press release and information provided by the operator of the Éléonore South JV, was reviewed by William McGuinty, P. Geo., Eastmain’s VP Exploration and a Qualified Person under National Instrument 43-101.

To view FIGURES 1–6, please click on the following link:
http://www.eastmain.com/_resources/news/Images/ER-171116_Figures1_to_6.pdf