QUEBEC APPROVES NORTHERN PLAN INVESTMENT
ROUTE 167 EXTENSION TO
PROVIDE ROAD ACCESS
TO EASTMAIN MINE PROPERTY
Eastmain Resources Inc. (TSX:ER) is pleased to announce that the Government of Quebec will begin construction of Route 167 extension (also known as the Otish Mountain Road) this summer as part of the Northern Plan initiative to make this vast territory accessible for the development of mining and tourism. The Route 167 North Extension will provide permanent year-round access to the Eastmain Mine property by way of the communities of Chibougamau and Misstissini.
The Northern Plan includes extending Route 167 from the northeast end of MisstissiniLake 260 kilometres north to the Trans-Taiga road leading to the La Grande hydroelectric complex. Extending the road to the Otish Mountains alone entails an investment of nearly $280 million over the next five years. The Quebec Government cited that the mining potential of this area is huge and diverse, including: diamonds (Stornoway); uranium (Strateco); copper/molybdenum (Western Troy) and gold (Eastmain). Current access to the area is restricted to a winter "ice" road, originally constructed in the early 1990's to haul concentrate from the Eastmain Mine to mills located in Chibougamau.
"The approval of the Northern Plan Investment and the extension of Route 167 enhances the likelihood of the Eastmain Mine once again becoming a producing gold deposit in the future. This infrastructure is vital for the development of mines in this district and it will greatly facilitate mineral exploration. As with our Eau Claire gold deposit, having road access upgrades these projects beyond just ounces in the ground to a possible production scenario", according to Don Robinson, Eastmain's President & CEO. "Cost savings with this infrastructure will be tremendous, for example last year 500 drums of fuel were mobilized to the mine property by airplane at transportation costs alone of over $400 per drum."
A 15,000-metre drill program has been proposed for the Eastmain Mine project to test the depth extension of the known gold zones and explore the 10-kilometre-long mine trend. The program is expected to begin in the second quarter of 2011.
Dr. Donald J. Robinson P.Geo, is the Qualified Person for the information contained in this press release and is a Qualified Person within the meaning of National Instrument 43-101.
It's all happened before and it will all happen again. Might as well profit from it.
