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Gold/Mining/Energy : Barrick Gold (ABX) -- Ignore unavailable to you. Want to Upgrade?

To: IngotWeTrust who wrote (491)	2/19/1998 3:56:00 PM
From: Robert Floyd	Read Replies (1) \| Respond to of 3558

Barrick Commences Drilling At Lac Elmer Gold Project TORONTO--(BUSINESS WIRE)--Feb. 19, 1998-- Eastmain Resources I(TSE:ER. - news) Eastmain Resources Inc. announced that Barrick Gold Corporation [NYSE:ABX - news] has commenced a 4,000 metre diamond drill program on the Lac Elmer gold project, located within the Eastmain River Greenstone belt, Quebec. Geological mapping and geochemical sampling, completed by Barrick over the last two field seasons, have traced a gold-silver-rich pyritic tuff horizon for a length of seven kilometres on the property. This auriferous horizon is geologically comparable to rocks that host the mines within the Bousquet Camp. Previous diamond drilling intersected 0.5 grams gold per tonne and 50.0 grams silver per tonne across 33.0 metres, including intervals of up to 6.9 grams gold per tonne and 1000 grams silver per tonne, within this auriferous pyritic tuff. Surface sampling has also detected in excess of 100 grams gold per tonne in quartz-veins within gabbro. Surface IP and magnetic surveys have defined a multitude of untested anomalies coincident with this pyritic tuff horizon. The current drill program will test approximately 15 to 20 targets over the next six weeks. Eastmain has broadened its exploration efforts to include important base metal projects covering potential mine horizons within three mining camps, including: Timmins, Ontario, Matagami, Quebec and Bathurst, New Brunswick. The Company recently acquired the Railroad base metal discovery, located five kilometres south of Noranda's Heath Steele Mill, in New Brunswick. Previous drilling intersected zinc-rich massive sulphide on an interpreted extension of the significant ''Brunswick Mine horizon''. Eastmain's gold exploration projects cover two high potential frontiers in Eastern Canada, including the extension of the prolific Abitibi Greenstone belt and the Eastmain River Greenstone belt, Quebec. Eastmain has $2.0 million in working capital and approximately 16.2 million shares issued. -------------------------------------------------------------------------------- Contact: Eastmain Resources Inc. Donald Robinson, 519/ 940-4870 519/ 940-4871 (FAX) e-mail: robinson@eastmain.com or Eastmain Resources Inc. Catherine Butella, 519/ 940-4870 519/ 940-4871 (FAX) e-mail: robinson@eastmain.com --------------------------------------------------------------------------------