Quebec Projects
Quebec has tremendous mineral potential. Over 90% of the province is underlain by Precambrian rocks, the source of most of Canada's metals. Quebec is world-renown for its numerous base and precious metal deposits. Much of the province's vast territory remains largely unexplored, offering a remarkable blue-sky opportunity for mineral exploration companies and their investors.
For the past ten years, Québec has been rated as one of the most attractive jurisdictions in the World for mineral exploration investment according to the Fraser Institute. The Government of Québec provides tremendous fiscal incentive measures to promote mining exploration in the Province. Eastmain is eligible to receive a combined tax credit and mining duties refund equal to 50% of its eligible mineral exploration expenditures. Québec's strengths also include a specialized geo-scientific research centre and a skilled mining labour-pool.
Clearwater
The Company’s flagship gold project, located in the James Bay Lowlands of Québec, hosts the Eau Claire deposit. Eastmain holds a 100% interest in the project, which is royalty-free. As of 2012, Eau Claire contains an estimated resource of 721,000 ounces of gold (measured & indicated) and 1,122,000 ounces of gold (inferred) resources – see full project description). The deposit is open in all directions. High-grade veins exposed at surface, which range from 18.1 to 405 gpt gold (0.53-11.82 oz/ton), have been traced continuously to below 900 metres. Over the past 24 months exploration drilling has focused on expanding the gold resources potentially amenable to extraction by open pit methods. The project represents one of the highest grade, undeveloped open pit gold projects in North America.
Eastmain Mine & Ruby Hill
The Company owns 100% of the former producing Eastmain Mine property along with the Ruby Hill East and West blocks. The Eastmain Mine property includes a high-grade gold-copper-silver deposit which includes underground development and $40 Million in surface infrastructure. This volcanic-hosted gold-deposit is geologically comparable to the 1.87 million ounce “contact-ore” previously mined at Detour, Ontario.
Eleonore South
Eleonore South is a joint venture project with Goldcorp, Eastmain and Azimut. The project is contiguous with Goldcorp’s 7-million-ounce gold deposit at Eleonore. Exploration to date has outlined a kilometric-scale gold anomaly contained within “mine-series” sedimentary rocks. Additional exploration is warranted to explore this highly prolific region.
Lac Lessard
Lac Lessard is located 15 kms northeast of the Eastmain mine site and is prospective for PGMs (Platinum Gold Metals). The property is underlain by a kilometric-scale ultramafic complex, principally composed of pyroxenite. Darnley Bay Resources has an option to earn a 50% interest in the project by completing $2.5 million in exploration.
Radisson
The Radisson Project covers 20,340 hectares of Archean-aged volcanic-sedimentary rocks hosting multiple gold occurrences. The straddles a regional structural/stratigraphic break with high potential for a sedimentary or volcanic-hosted gold deposit. Honey Badger Exploration has an option to earn a 50% interest in the project by completing $2.5 million in exploration, including 6,000 metres of drilling.
Reservoir
Located in the central part of the Eastmain Greenstone Belt, 60 km southwest of the Roberto discovery, this 8,226-hectare property is owned entirely by Eastmain. Wide-spaced drilling identified three copper-gold zones grading up to 8.15% copper, 36 gpt gold (1.05 oz) and 52 gpt silver (1.52 oz). A 10-million-tonne copper-gold mineralized envelope surrounds this 1.8 km-long metal prospect. Reservoir is geologically analogous to the 10-million-ounce McIntyre Gold mine at Timmins and shows many similarities to Virginia’s Eléonore project.
Lac Hudson
This wholly-owned property, located in the central portion of the Eastmain Belt, covers prospective geology similar to that hosting Placer Dome’s Musselwhite gold mine. Preliminary work detected anomalous gold and base metal concentrations in sulphide facies iron formation and cherty exhalite horizons. Cursory drilling intersected up to 7.9 gpt gold across 1.28 metres (0.23 oz / 4.2 ft), including 15.2 gpt gold (0.44 oz) and 22.3 gpt silver (0.65 oz) over 0.6 metres (2 ft).
Lac Elmer
Eastmain and Barrick Gold Corporation jointly own this exploration permit in the western end of the Eastmain River Greenstone Belt. Geologically similar to Ontario’s 30-million-ounce Hemlo mine and the gold mines of Val d’Or, Québec, Lac Elmer hosts a 12-km-long mineralized horizon enriched in gold, silver, copper and zinc. Grades to 132 gpt gold (3.85 oz/ton) and 1,000 gpt silver (29.2 oz/ton) were obtained in this zone. Quartz veins in extremely altered rocks assayed in excess of 100 gpt gold (2.92 oz) with several ounce-grade intersections.
Road King
A regional copper-arsenic anomaly covers a portion of this 109-claim property wholly owned by Eastmain. A 10-km-long sedimentary-volcanic horizon prospective for Hemlo-type sedimentary hosted gold mineralization straddles the LG-2 Hwy north of the Eastmain River.
Dyna
Eastmain holds 100% of this 18,616-hectare property located in the Opinaca greenstone belt near the Eléonore project. Several rusty zones with geochemical responses similar to those found at Roberto have been discovered on the property.
Lidge
This 1024-hectare property, located 250 km north of Matagami, hosts a stratabound, pyritic gold horizon geologically similar to the Bousquet and Hemlo mines of the Canadian Shield. Early drilling intersected up to 11.42 gpt gold over 1.3 metres (0.33 oz/ton/ 4.3 ft) within a pyrite-pyrrhotite-fuchsite bearing cherty tuff.
Ontario Projects
Building on it's rich mining heritage, Ontario has a bright future in the mineral sector. The province's favourable geology, comprised largely of the Precambrian Shield, has created a wealth of world-class mineral deposits. Ontario's gold and base metal deposits rank with the best in the world.
Ontario is one of the world's leading mineral producers and is Canada's top metals producer. Over the past century Ontario has produced approximately 166 million ounces of gold, 1 billion ounces of silver, 10.8 million tons of nickel, 13.8 million tons of copper and 10.2 million tons of zinc. Metal production exceeds $ 5 billion annually. Home to the Hemlo gold mining camp, Ontario accounts for over one percent of the world's annual gold production. The lowest cost gold producer in the world - Goldcorp's Red Lake Mine - is found in one of Ontario's prolific greenstone belts. Ten percent of the world's nickel comes from north-central Ontario's Sudbury Basin. Vast regions of relatively unexplored high mineral potential still exist, creating blue-sky discovery opportunities for innovative explorers.
Favourable geology, easy access to capital markets in Toronto (the largest mine-financing in the world), comprehensive mining laws, extensive geoscience and technology bases, a skilled workforce and a highly developed mining service and support system all contribute to make Ontario one of the top ten places in the world for potential discovery.
Xstrata Joint Venture Abitibi “MegaTEM JV Project”
This Joint Venture with Falconbridge (65% ER/35% Falco) covers over 14,500 kms of the prolific Abitibi Greenstone Belt – one of the richest mineral belts in the world. State-of-the-art airborne technology developed by Falconbridge and Fugro has detected at least 225 top-priority geophysical anomalies that warrant drill-testing. Any one of these targets could become a “company maker”.
Abitibi Extension
The Abitibi Extension Project comprises properties prospective for gold, base metals and diamonds covering the un-explored western extension of the prolific Abitibi Greenstone Belt. Airborne surveys flown by BHP confirmed that rocks of the $120-Billion metal-producing belt extend onto Eastmain ground. Eastmain is now the sole owner of this exclusive data. Dianor Resources Inc. has an option to explore the area.
Akweskwa
A stratabound pyritic horizon enriched in gold, silver and zinc, similar to ore-bearing rocks at the Hemlo and Bousquet mines, has been traced for over 3 km. Drilling intersected up to 18.5 gpt gold (0.54 oz) and 6.2 gpt silver.
Kidd Project
This Eastmain option covers base metal VMS claims 2.5 km east of Falconbridge’s 160-million-tonne Kidd Creek Mine.
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