Friday 21st October 2016

Resource Clips

From Abitibi to James Bay

Assays reveal the lure of gold in three Quebec regions

by Greg Klein

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As one of the world’s top mining jurisdictions, Quebec provides a steady source of commodity news. ResourceClips takes a look at November 8 drill results from Eastmain Resources TSX:ER, Gold Bullion Development TSXV:GBB and Northern Superior Resources TSXV:SUP, each working a different part of the province.

With high grades and visible gold, Eastmain continues to build its Eau Claire (Clearwater) gold-tellurium project. Assays from this year’s 90-hole, 34,211-metre campaign in Quebec’s James Bay lowlands show the project advancing towards a goal of up to 2.3 million gold ounces.

Results from Eau Claire’s 850 West zone show:

  • 41.62 grams per tonne gold over 2 metres
  • (including 148 g/t gold and 173 g/t tellurium over 0.5 metres)
  • 11.04 g/t gold over 6.5 metres
  • (including 19.1 g/t gold over 3.5 metres)
  • 3.09 g/t gold over 13.5 metres
  • (including 10.1 g/t gold and 10 g/t tellurium over 3 metres)
  • 2.57 g/t gold over 15 metres
  • (including 12.6 g/t gold and 21.4 g/t tellurium over 2.5 metres)
  • 1.6 g/t gold over 24 metres
  • (including 3.89 g/t gold and 4.16 g/t tellurium over 6.5 metres)

The 450 West zone assays show:

  • 2.49 g/t gold over 18 metres
  • (including 15.3 g/t gold and 21.9 g/t tellurium over 3 metres)
  • 24 g/t gold over 1.5 metres
  • (including 67.1 g/t gold and 87.3 g/t tellurium over 0.5 metres)
  • 4.7 g/t gold over 5 metres
  • (including 9.33 g/t gold and 11 g/t tellurium over 2 metres)
Assays reveal the lure of gold in three Quebec regions

Eastmain’s 3D model showing Eau Claire’s
850 West and 450 West zones.

True widths were estimated at 100%. Down-hole depths weren’t provided but the project’s resource estimate starts at surface and extends to a depth of 900 metres. The company stated approximately half the Eau Claire deposit may have open pit potential.

Assays are pending from additional holes, as well as from four 0.5-metre samples showing more than 250 grains of visible gold and one 0.5-metre sample showing 35 grains of visible gold from the 850 West zone.

Last month’s resource update for zones 450 and 850 used a 0.5 g/t cutoff for open pit resources above 220 metres in depth and an underground cutoff of 2.5 g/t. The open pit resource showed:

  • 2.67 million tonnes grading an average 4.76 g/t for 408,000 gold ounces measured
  • 1.5 million tonnes grading an average 3.53 g/t for 170,000 gold ounces indicated
  • 2.4 million tonnes grading an average 2.5 g/t for 192,000 gold ounces inferred

The underground resource showed:

  • 145,000 tonnes grading an average 6.96 g/t for 32,000 gold ounces measured
  • 558,000 tonnes grading an average 6.12 g/t for 110,000 gold ounces indicated
  • 4.03 million tonnes grading an average 7.2 g/t for 929,000 gold ounces inferred

In a statement accompanying the November 8 assays, QP Eugene Puritch of P&E Mining Consultants said the resource grades “are not often found in this geological and geographical setting. The open pit gold grade in particular is in the order of three or four times that of which many other exploration projects have recently reported. Additionally, the underground gold grade is also in the order of 50% higher than recent comparable projects. With these high-grade resources, close proximity to custom processing facilities, a road and power, the prospect of a positive economic analysis is very encouraging.”

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