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Eastmain Extends the Percival Discovery and Announces Winter 2019 Drill ProgramTORONTO, Dec. 20, 2018 (GLOBE NEWSWIRE) -- Eastmain Resources Inc. (“Eastmain” or the “Company” - TSX:ER, OTCQX:EANRF) reports results for 5 holes (1,558 m) drilled in late 2018 at the Percival discovery (“Percival”) and presents its focused exploration program for 2019 on the 100%-owned Clearwater Property (the “Property”) in James Bay, Québec. The early 2019 exploration program will focus on testing the extent and continuity of the Percival discovery (see PR dated Nov. 13, 2018). Additionally, the program will evaluate the potential of the 14-km long Knight-Serendipity volcano-sedimentary Horizon (“KS Horizon”). Percival is located 14 km ESE of the Company’s million-ounce Eau Claire gold deposit, within the 20-km long Cannard Deformation Zone (see FIGURE 1) and within the southern leg of the KS Horizon. Percival is a hydrothermal gold system hosted in a thick metasedimentary sequence with locally interbedded intermediate to felsic volcaniclastic rocks. Results from the new drilling provide a further understanding of the mineralization controls, namely by defining lithological and structural settings, within the host stratigraphy while identifying at least two gold mineralized zones within the metasedimentary package (see FIGURES 2-6). Claude Lemasson, Eastmain President and CEO commented: “January will be a strong start to 2019 for Eastmain. With a new discovery at Clearwater and an improved geological and geophysical understanding in hand, our team is designing a focused exploration program that follows-up on our 2018 significant results. Percival represents a new style of gold mineralization on the property and we are excited to continue developing the discovery, as well as testing for new mineralization along the entire KS Horizon.” Drilling Highlights include:
Project Highlights:
Drilling Results The type and intensity of alteration in the initial discovery holes suggests proximity to a syn-volcanic hydrothermal source. Preliminary interpretations strongly suggest that increases in breccia thickness, intensity of alteration (namely silicification) and to a lesser degree high sulphide content, are all controls that can be used to determine the extent, orientation, and occurrence of gold mineralization within the new zones to guide future drill testing. Oriented core measurements taken during the fall program will also assist with targeting gold bearing mineralization in the next phases of drilling. Holes ER18-825 and ER18-828 highlight the absence of the mafic volcanic footwall seen in holes ER18-822 and others drilled further to the east. A NNW trending fault structure is magnetically inferred in this area and may represent a potential offset of stratigraphy and mineralization. One drill hole (assays pending) is testing this potential structure. Table 1: Significant Intercepts
Additional Drilling Completed and Planned Three additional holes (887 m) were completed this week at Percival. All three holes were collared to the west of the discovery holes, aimed at testing interpreted lateral extension, structural interpretation and possible plunge of breccia units in the sedimentary host package. Results from these holes will be available in January 2019. The Percival Discovery Percival is located 14 km ESE of the Eau Claire deposit (see FIGURE 1) in the Knight sector of the KS Horizon, on the Clearwater Property. The KS Horizon is characterized by an extensive package of metasedimentary and metavolcanic rocks metamorphosed from upper greenschist to lower amphibolite facies. The horizon is also affected by deformation related to major crustal scale structures specifically the Cannard Deformation zone at the Percival discovery. The stratigraphy at the Percival comprises foliated, predominantly south facing metasedimentary rocks underlain by marine mafic metavolcanics. The Knight sector is interpreted to be at the south-western end of the prospective volcano-sedimentary sequence. Holes ER18-822 and ER18-823 were drilled on a single section (see FIGURE 5) to undercut gold mineralization exposed in a sequence of silicified metavolcanics and metasediments during the Company’s summer surface exploration program. These two holes intersected a silicified, sulfide rich, and gold mineralized brecciated interval of approximately 50 m in true thickness which extends from surface to a minimum vertical depth of approximately 100 m. Holes ER18-824 to ER18-828 were drilled to flank Percival discovery holes ER18-822 and ER18-823, testing for the extension of the brecciated units over a NE strike length of 200 m and across stratigraphy over 250 m. To view Figures 1-6, please click on the following link: http://www.eastmain.com/_resources/news/Images/ER-181220-Percival.pdf. This press release was compiled and reviewed by William McGuinty, P.Geo., Eastmain’s VP Exploration and Carl Corriveau, P.Geo., Eastmain’s Exploration Manager, both Qualified Persons under National Instrument 43-101. Quality Assurance and Quality Control (QA/QC) 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 For more information: Alison Dwoskin, Manager, Investor Relations 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. |