Eastmain River Properties
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Eastmain and other properties in James Bay
In May 2005, the Company had acquired a 100% interest in two large blocks of claims in the Eastmain River region, 17 km south of the Eastmain Resources’ Clearwater project (990,000 ounces of gold; i.e. indicated resources of 1,029,332 tonnes at 9.46 grams gold per tonne containing 310,000 ounces and inferred resources of 3,049,660 tonnes at 6.9 grams gold per tonne containing 680,000 ounces.-Eastmain Resources press release of March 5, 2005). The Company has signed an agreement with an independent staking syndicate to acquire 100% interest in 837 claims divided into two large blocks covering a total 443 km2.
The Eastmain project is covered by mafic volcanics, metasediments and intrusive rocks of the Eastmain Greenstone Volcanic Band. The two blocks are characterized by the presence of multi-element anomalies within lake-bottom sediment samples, where gold and arsenic appear in high concentration. Quebec’s Ministry of Natural Resources’ files report historical values up to 80.7g/t gold from a selected sample on the Eastmain property.
A brief reconnaissance program was carried out in October 2005 on one of the blocks. The work program in 2006 on Eastmain will consist of a reconnaissance survey with systematic soil and till sampling lines.
The Company also acquired by map-staking another 441 claims in the Eastmain River region, bringing the whole Eastmain Project to a total surface of 675 km2 in five different blocks.
Seven other blocks of properties were acquired by map staking in the James Bay territory of the province Quebec. Those properties were selected on the basis of lake-bottom sediment anomalies, favourable geology and geophysical interpretation. A work program for 2006 will be proposed as soon as the compilation and the interpretation are completed on those blocks.
Please review our press releases for updates.
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