well its still holiday month before the kids start schools again - most brokers at the beach with the kids and family -
this time is often the bargain time of the year - before the brokers comes back -
Eastmain Discovers 8/30/2007
Eastmain Discovers
Visible Gold Zone – 37.8 g/t Au at Éléonore South
Eastmain Resources Inc. (ER-TSX) is pleased to announce the discovery of visible gold (VG) along a length of 11 metres in trenching of a new zone referred to as the VG Zone at the Éléonore South project, a joint venture with Les Mines Opinaca Ltée, a wholly owned subsidiary of Goldcorp Inc. (TSX: G, NYSE: GG) and Azimut Exploration Inc. (TSX Venture: AZM). Samples taken across the new VG Zone assayed 5.33 grams per tonne gold over 8.0 metres and include an interval grading 20 grams per tonne gold over 2.0 metres.
The VG Zone (Map 1, Trench ELS-07-1E3) lies within the JT Target Area approximately 80 metres north of the original JT Target trench (ELS-06-1E1), within the same package of altered Roberto-type sediments.
Trench ELS-06-1E1 assayed 1.49 g/t gold across 16.0 metres and 500 metres to the south, the WB showing assayed 5.72 g/t in a grab sample within gold-bearing altered sediments. Additional low-grade gold, found in arsenopyrite-bearing sediments immediately east of the VG Zone, returned values of 1.05 g/t gold across 7.0 metres and 0.97 g/t gold over 12.0 metres. Multiple targets have been defined on the property within a favourable gold-enriched soil geochemical corridor extending for more than ten kilometres in length. These priority targets are currently being trenched and channel sampled as part of a 6,500-metre trenching program. To date, trenching and channel sampling confirm a local in-situ ground source for soil anomalies over the JT Target Area. Over 1,750 metre-long channel samples and 300 grab samples have been submitted for assay thus far.
Trenching and channel sampling carried out over the past two months has expanded the JT Target Area and confirmed a sedimentary-hosted gold setting similar to that found at Goldcorp's Roberto deposit. Approximately 100 metre-long channel samples, taken from a 600-by-300-metre area within these altered sedimentary rocks, assayed from 0.10 to 37.8 g/t gold. Assays for 480 channel samples, including 140 samples from the VG Zone, trench ELS-07-1E5 and the WB showing, are pending. An additional 1,000 samples are planned for other property-wide targets.
The current program is also utilizing Induced Polarization surveys to search for buried metallic targets within the prospective corridor. Induced Polarization (IP) surveys have been completed at a 200-metre line spacing for a length of 12 kilometres and at a 100-metre line spacing across the JT Target Area. Multiple chargeability (IP) highs, locally coincident with altered sediments and anomalous gold in soils, have been detected. Detailed follow-up IP surveys have been completed on 11 other priority areas, which will subsequently be trenched or drilled.
Fieldwork is performed under the supervision of Frank Kendle, P. Geo. This press release was prepared by geologist Dr. Donald J. Robinson, P. Geo, qualified person as defined by National Instrument 43-101. Rock samples were analyzed by fire assay methods at ALS Chemex Ltd.
The Éléonore South project is located immediately south of Goldcorp's Éléonore project, which includes the Roberto gold deposit.
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