Eastmain Resources (ER-T)
www.eastmain.com
97.8 million o/s
Goldcorp owns 7.5%
50% Institution own
Van Eck International Gold Fund
Investor's Group
Sprott Asset Management
Oppenheimer Funds
Anglo Pacific Group
Blackrock
Pembrooke
US Global Investors
TD Precious Metals
BMO Precious Metals
Caisse de Depot et Placement du Quebec
Dimensional Fund Advisors
Lombard Odier Darier Hentsch
Libra Fund
Gabelli Fund
SDBJ
$10 million in the piggybank
Debt: zero
Key people:
Donald J. Robinson, Ph.D, P. Geo President & CEO
Dr. Robinson has been President, CEO and director of Eastmain since 1994. He formerly operated a private consulting firm, Robinson Exploration Services Limited ("RESL"), which specialized in the exploration of base and precious metals within Canada, and Australia from 1987 to 1994. For two years he managed the exploration of a gold-rich VMS discovery at Lewis Ponds, Australia for Tri Origin Exploration Ltd. Prior to forming RESL, Dr. Robinson supervised an integrated base and precious metal program, on behalf of Westmin Resources Ltd. from 1981 to 1987, which led to the discovery of the Eau Claire gold deposit at Clearwater. Dr. Robinson earned a Ph.D. degree from the University of Western Ontario in 1982. His thesis, based on the Redstone nickel-copper deposit located near Timmins, Ontario was sponsored by BHP Billiton (formerly Utah Mines Ltd.). Dr. Robinson devotes 100% of his time to affairs relating to the Corporation.
Company Presentation
eastmain.com
Company Snapshot
eastmain.com
___________________________________________________________________________
Eastmain's Eau Claire at 721,000 oz of 4.6 g/t Au M+I
Oct 11, 2012 - News Release
Eastmain Resources Inc. has released an updated mineral resource estimate, prepared in accordance with National Instrument 43-101, for its 100-per-cent-owned Eau Claire gold deposit (Clearwater project), located in the James Bay middle-north region of Quebec. The updated resource incorporates 28,523 metres of drilling completed on the deposit, since the previous estimate (April 26, 2011).
This updated resource, prepared by P&E Mining Consultants Inc., indicates that drilling completed in 2011, along with nine holes from 2010, has defined measured, indicated and inferred gold resources from within the 850 West zone, favourably expanding the size of potential open-pit resources at Eau Claire. Recent 2012 drilling combined with 3-D modelling of the deposit indicates that the 450 and 850 West zones are part of a continuous gold-bearing system, which is currently being expanded to the north, west and at depth, through additional drilling.
Multiple parallel, sheeted quartz tourmaline veins and alteration zones comprising the 450 and 850 West zones of the Eau Claire deposit contain a combined measured and indicated resource of 4.87 million tonnes with an average grade of 4.6 grams per tonne gold (g/t) for 721,000 ounces of gold (4.94 million tonnes containing 780,000 ounces at 4.91 g/t gold uncapped). In addition, 6.4 million tonnes with an average grade of 5.45 g/t gold, classified as inferred resources, contain 1,122,000 ounces of gold (6.5 million tonnes containing 1,148,000 ounces at 5.48 g/t gold uncapped).
The resource estimate considers that mineralization starts at surface and continues to a depth of approximately 900 metres. This updated resource estimate does not include results of the continuing 40,000-metre definition drilling currently under way. The deposit remains open in all directions.
Mineral resources above an average 220-metre depth from surface are considered to be amenable to open-pit extraction, whereas mineral resources below this depth are considered to be amenable to underground extraction. |
