The latest batch of assay results from drilling on the Clearwater (Eau Claire) project in the James Bay region of Quebec confirm earlier encouraging drill results, reports Eastmain Resources (ER-T).
Running between 2.7 and 37.4 grams gold per tonne over widths generally between 0.5 to 3 metres, the latest six holes results jive with grades between 1 and 41 grams gold in the first six holes. Three of those holes returned visible gold.
All of the holes have cut between 10 and 15 zones of quartz-carbonate-tourmaline vein material or mineralized schist identical to the gold zones known at surface. The zones range from 0.5 to 7 metres wide, and reach a vertical depth of 500 metres or 750 metres downdip.
The deposit remains open to the east and west and at depth.
The holes are part of an 18-hole 10,000-metre drill campaign aimed at boosting Clearwater’s resource. Assay results are pending from holes 13 through 18.
A 2001 resource calculation pegged Clearwater’s indicated resource at 973,000 tonnes grading 8.3 grams gold per tonne. Another 510,000 tonnes running 3.7 grams are classified as inferred material. The estimate employed a cut grade of 34.28 grams per tonne (1 oz. per ton).
Once the final assay results are in hand, Eastmain expects to have a new resource figure in place early in 2003.
Eastmain plans to sink another 10,000 metres of follow-up drilling in 2003. The company is looking to define a resource of at least a million ounces.
Eastmain can earn a 75% stake in the project by spending $2.5 million over four years. The project is currently held equally by Eastmain and Quebec government-owned Soquem.
Eastmain shares were trading 2 or about 6.5% higher at 33 in mid-afternoon trade in Toronto on Dec. 4.
Be the first to comment on "Clearwater deep zones confirmed"