GOLD: Eastmain releases resource update for Eau Claire deposit

QUEBEC – Toronto-based Eastmain Resources has released new resource numbers for its Eau Claire gold deposit. The deposit is part of the Clearwater project in the James Bay region. The company says the numbers make Eau Claire "one of the highest-grade open pit prospects, with potential for economic extraction, in North America."

The report was prepared by SRK Consulting (Canada). The resource estimate is based on the pit constrained portion of the deposit, and there is potential for expansion and grade improvement both at depth and along strike.

Eastmain believes the proposed open pit contained 6.80 million tonnes of measured and indicated resources averaging 4.05 g/t Au and 5.38 g/t Te. The total contained gold is 885,000 oz, a 53% jump from earlier estimates. The pit inferred resource is another 1.10 million tonnes averaging 3.12 g/t Au and 3.64 g/t Te, containing 110,000 oz of gold.

The deposit also has inferred underground resources of 428,000 tonnes at 4.78 g/t Au and 6.07 g/t Te and containing 66,000 oz of gold. The inferred underground estimate is 3.97 million tonnes at 4.09 g/t Au and 3.12 g/t Te and containing 523,000 oz of gold.

Follow this link to the slide presentation that accompanied the news release.