Eastmain’s Eau Claire deposit shows promise in Quebec

Eastmain Resources (TSX: ER) is confident that its Eau Claire deposit will become the second gold mine in Quebec’s James Bay region, following Goldcorp’s (TSX: G; NYSE: GG) Éléonore project, which is estimated to produce 575,000 to 625,000 oz of gold a year once in full production.

“There are two gold projects in this district that will become gold mines, one of them is commissioned and will be in commercial production in [early 2015]. We believe ours is the next in line, and approaching the post-exploration stage if you will,” the company’s president and CEO Donald Robinson said in a Sept. 12 presentation.

Eau Claire is part of the company’s wholly owned Clearwater property and one of the five known gold deposits in the James Bay region. Clearwater covers about 200 km² of the Eastmain-Opinaca greenstone belt, believed to have the same geology as many major gold camps in Canada.

“We moved up to this district for the principal reason: this is exactly the same geology as the Abitibi belt,” Robinson said during the Precious Metals Summit in Colorado. “The only difference was the claim acquisitions were in the hundreds of square kilometres instead of the square kilometres. It was brand new, very little was known about it, but it is clear it is underlain by the same geology.”

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