Eastmain Drills 74.5 m of 0.97 g/t Au Near-Surface at the Percival Discovery, Clearwater Property

2019-03-21 / @businesswire

Eastmain Resources Inc. (“Eastmain” or the “Company” - TSX:ER, OTCQX:EANRF) is pleased to report results for four drill holes (907 metres (“m”)) of the 20-hole, 5,500 m 2019 winter program at the Percival discovery (“Percival”), on the 100%-owned Clearwater Property in James Bay, Québec (see FIGURES 1-6). Drilling continues with 6 holes (1,579 m) reported to date in the program.

Drilling Highlights:

ER19-836: 0.97 grams per tonne gold (“g/t Au”) over 74.5 m (vertical depth of 58 m), including 1.38 g/t Au over 24.0 m (silicified breccia and siltstone), and 1.38 g/t Au over 25.0 m
- Hole ER19-836 was collared 56 m north of ER19-833, targeting both the eastern extension of the Percival discovery and a MaxMin Horizontal Loop Electro-Magnetic (HLEM) anomaly (see FIGURE 4).
ER19-837: 1.55 g/t Au over 11.0 m (vertical depth of 125 m), including 3.20 g/t Au over 5.0 m (siltstone and siltstone breccia).
- Hole ER19-837 stepped 50 m further east of ER19-836, successfully targeting the continuation of the wide HLEM anomaly associated with the projected eastern extension of Percival. (see FIGURE 5).

Claude Lemasson, President and CEO commented: “Percival now measures at least 400 m in length and we are extremely encouraged by the correlation between gold mineralization and electromagnetic anomalies within the area. The team continues to successfully step out laterally using a ground geophysical survey to help guide drilling along a SW-NE strike from Percival.”

Table 1: Significant Intercepts

Location

Drill Hole

From

Length

Grade

Vertical

Host

(m)

(Au g/t)

Depth (m)

Lithology

Percival

ER19-836

45.00

119.50

74.50

0.97

Silicified Breccia with siltstone and
magnetite bearing interbeds

incl. 46.00

70.00

24.00

1.39

also incl. 46.00

56.50

10.50

2.02

incl. 94.50

119.50

25.00

1.38

also incl. 106.50

108.30

1.80

6.49

Percival

ER19-837

57.70

61.60

3.90

2.47

Silicified Breccia and silicified siltstone

143.50

145.00

1.50

3.00

102

Siltstone

172.00

183.00

11.00

1.55

125

Siltstone and siltstone breccia

Incl. 178.00

183.00

5.00

3.20

Percival
area

ER19-834

NSV

Percival
area

ER19-835

144.00

145.00

1.00

2.42

102

Weakly silicified siltstone

^{Intervals are presented in core length; holes are generally
planned to intersect mineralization as close to perpendicular to
strike as possible; true widths are estimated to be 75% of downhole
length when hole and dips of the mineralized horizons are considered.}
^{Assays results presented are not capped. Intercepts occur
within geological confines of major zones but have not been correlated
to individual structures/horizons within these zones at this time.}
^{Vertical depth is measured from the surface to the mid-point
of the reported interval.}

Drilling Results

Hole ER19-836 was collared 55 m north of, and above hole ER19-833 to follow up on results from that hole (1.84 g/t Au over 22.2 m in silicified breccia) and continue to evaluate a strong MaxMin HLEM conductor along trend and east of the Percival discovery holes (see FIGURES 2 - 4). This hole intersected near surface gold in a mineralized, silicified breccia with siltstone and magnetite bearing interbeds from 45 m to 120 m downhole (including 0.97 g/t Au over 74.5 m) and marks the upward continuation of mineralization intersected in hole ER19-833 (see press release Feb 25, 2019). Hole ER19-836 also marks the appearance of magnetite-bearing and chert-magnetite stratigraphic units, which are interpreted to be the first intersections of iron formation observed during the Percival drill campaign.

Hole ER19-837 was collared 50 m east of the ER19-833, ER190-836 drill section (see FIGURES 2, 3 and 5) along the continuation of the same HLEM anomaly. Gold mineralization in this hole continues to be associated with intersections of silicified breccia, silicification and breccia in mudstones and siltstones and returned 2.47 g/t Au over 3.9 m starting at 57.7 m and 1.55 g/t Au over 11.0 m starting at 172.0 m downhole. This hole also intersected intervals of chert-magnetite and magnetite-rich iron formation indicating a continuation of this sequence towards the NE from hole ER19-836.

Holes ER19-834 and ER19-835 were collared 290 m and 235 m south, respectively, of Percival discovery holes ER18-822 and ER18-823. The holes drilled a south to north section across an HLEM anomaly located parallel and 250 m south of the Percival horizon (see FIGURES 2, 3 and 6). Hole ER19-835 ended in a mineralized and weakly silicified siltstone. The mineralized zone remains open at depth and the hole will be extended to investigate the 2.42 g/t Au over 1 m intercept at the end of the hole. Apart from this intercept, no significant mineralization was encountered and the Company believes the HLEM anomaly in this area may be the result of response to graphitic units encountered in these holes. A new hole, collared north of hole ER19-835 and south of hole ER19-824 is being considered to complete the geological section south of the Discovery zone.

Table 2: Drill Hole Information


Target Zone	Drill Hole	UTM Coordinates Zone 18		Azimuth	Dip	Total Length	Elevation
	Number	Easting	Northing	Degrees	Degrees	(m)	(m)
Percival	ER19-834	457650	5781470	360	-45	127	310
Percival	ER19-835	457650	5781525	360	-45	145	320
Percival	ER19-836	457752	5781831	360	-45	214	316
Percival	ER19-837	457800	5781800	360	-45	421	333

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

To view Figures 1-6, please click on the following link: http://www.eastmain.com/_resources/news/Images/ER-190321-Percival.pdf.

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. (TSX:ER) 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, 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 affect 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 preparation 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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