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December 3, 2009
Eau Claire Assays & Metallurgy
35 High Grade Gold-Tellurium intersections
94 to 96% Gravity + flotation gold recovery
Eastmain Resources Inc. (TSX:ER) is pleased to announce assay data from recent definition drilling and preliminary metallurgical test results from its Eau Claire Gold Deposit, located in James Bay, Quebec. 48 holes totaling 14,569 metres have been completed during this phase of drilling.
Holes 216 through 228 intersected 35 gold-bearing quartz-tourmaline veins, including multiple intersections containing over one ounce of gold, adding to an overall increase in the grade and size of the deposit (Table 1). Preliminary metallurgical test work on the primary grind indicates impressive gold recoveries, ranging from approximately 94 to 96%, solely from gravity plus flotation techniques. Further testing to determine the overall final gold recovery and optimal processing, using a additional techniques, is still underway. Eau Claire also contains important byproduct rare metals including tellurium and bismuth, which may contribute to the total net smelter return value of the gold deposit. Further testing will also include determination of byproduct recoveries.
Assay highlights include:
· 27.6 g/t Au over 1.5 m, incl. 81.8 g/t Au (2.39 oz/ton) over 0.5 m
· 7.92 g/t Au over 3.0 m, incl. 21.3 g/t Au (0.62 oz/ton) over 0.5 m
· 34.6 g/t Au over 2.0 m, incl. 60.9 g/t Au and 59.0 g/t Au (1.78 & 1.72 oz/ton)
· 21.0 g/t Au over 2.6 m, incl. 79.3 g/t Au (2.32 oz/ton) over 0.5 m
· 42.3 g/t Au over 1.0 m, incl. 48.9 g/t Au (1.43 oz/ton) over 0.5 m
· 9.33 g/t Au over 6.5 m, incl. 88.0 g/t Au (2.57 oz/ton) over 0.5 m
· 8.24 g/t Au over 4.0 m, incl. 28.4 g/t Au (0.83 oz/ton) over 0.5 m
· 26.5 g/t Au over 3.4 m, incl. 117.0 g/t Au (3.42 oz/ton) over 0.5 m
· 11.3 g/t Au over 3.5 m, incl. 72.7 g/t Au (2.12 oz/ton) over 0.5 m
Over the past 24 months, a total of 35,769 metres (181 HQ drill holes) has been completed to expand the Eau Claire gold resource within the upper 300 metres. 30% of all vein intercepts drilled within this period contain over one ounce gold per ton. 75% of all gold-enriched vein and schist material intersected at Eau Claire over the last two years, exceed one-half (0.50) ounce gold per ton over an average thickness of 1.34 metres. Assay data is pending for another 15 drill holes (229 to 244).
In 168 drill holes, 471 gold-bearing quartz-tourmaline vein intervals with an average grade of 12.4 g/t Au (0.36 oz/ton), at an average thickness of 1.37 metres, have been intersected within the upper one-third of the deposit. 350 vein intervals contain an average grade of 16.1 g/t Au (0.47 oz/ton); 250 vein intervals averaged 20.6 g/t Au (0.60 oz/ton); 150 vein intervals contain an average of 30.0 g/t Au or 0.88 oz/ton; 100 vein intervals contain 41.6 g/t Au (1.21 oz/ton) and 50 intersections have an average of 64.4 g/t Au or 1.88 oz/ton (Table 2). The Eau Claire deposit clearly hosts a number of exceptionally high-grade gold veins, from which initial testing shows a substantial percentage of gold can easily be extracted through simple physical means (gravity and flotation) in the early stages of a milling process.
Preliminary data from SGS Lakefield Research Limited on the metallurgical test work from master composite samples taken from the Eau Claire gold deposit indicates a gold recovery ranging from 94.2 to 95.9% utilizing gravity plus flotation techniques alone. Current acid base accounting test results from composite samples from the P, JQ, R and S veins also indicate that the gold deposit is likely non-acid generating. Additional testing will maximize final gold recoveries and define optimal milling processes for Eau Claire.
The Eau Claire deposit contains a significant amount of tellurium as well as free gold. There is a positive correlation of gold and tellurium with multiple vein intersections containing in excess of one ounce of tellurium per ton (Table 1). Tellurium is one of the rarest metals on earth and is most frequently recovered as a byproduct from refining copper. Tellurium is used in semi-conductors and ceramics. It is often alloyed with cast iron, copper and stainless steel and added to lead to prevent corrosion. Increasingly, tellurium is being used to tint windows for "smart-heating" used in the manufacture of solar cells, CD's, DVD's, Blu-ray disks and flash drives. Recent advances in computer memory technology include a new application utilizing tellurium in "phase change memory chips" that can hold large amounts of data in a small space, replacing conventional memory chips. The price of tellurium over the past five years has varied from $10 to $180 per pound, however the demand from this new technology is likely to put pressure on the world's limited supply, causing an increase in tellurium metal price.
Bismuth is another byproduct at Eau Claire. Bismuth, though not as rare as tellurium, is also a metal with many significant uses. It is widely used in producing malleable irons, as a catalyst for making acrylic fibres, in cosmetics and in medicines as well as fire detection and extinguishing systems. Bismuth is also used as a thermocouple, as it has the highest negativity known. Currently used as a carrier for uranium fuel in nuclear reactors, bismuth will become increasingly more important in the quest for "clean" energy systems. Scientists at Stanford University also claim bismuth-telluride, a semi-conductor, which can withstand significantly higher temperatures than silicon, may replace standard semi-conductor electronics (TFOT- www.thefutureofthings.com).
"The preliminary metallurgical test work for the Eau Claire gold deposit is very encouraging, and is not surprising given the amount of visible gold observed in drill core. Along with the gold there are a number of rare metals present throughout the deposit, including tellurium and bismuth. These important by-product metals are expected to positively boost the total net smelter return value of the deposit, and in turn, reduce the future cash costs of gold production. The escalating price of gold, encouraging metallurgical test work, future exploration potential and excellent infrastructure make Eau Claire one of the most attractive gold deposits in James Bay. These new developments are very positive for our shareholders and for mining in Quebec" emphasizes Dr. Robinson, President & CEO. "Upon receipt of the remaining assay data and completion of metallurgical testing, a new resource estimate will be calculated, incorporating the past two years of drilling with previous estimates. A significant exploration and drilling program is also planned for 2010."
This news release was prepared by Dr. Donald Robinson, P. Geo., the qualified person supervising the project in accordance with NI 43-101.
About Eastmain Resources Inc. (TSX:ER)
Eastmain is a Canadian gold exploration company with 100% interest in the Eau Claire and Eastmain gold deposits. The Corporation has $17.1 Million in working capital, no debt and holds an interest in 12 projects within the James Bay District, including the Eleonore South property, where a gold discovery has been found in a similar geologic setting to Goldcorp's Roberto deposit. Eastmain has an annual budget of $5 million for gold exploration in Quebec.
For further information please contact Eastmain Resources Inc.: Dr. Donald J. Robinson, President or Catherine Butella, Exploration Manager at (519) 940-4870, fax: (519) 940-4871, e-mail: info@eastmain.com or visit our website at www.eastmain.com.
The statements made in this Press Release may contain forward-looking statements that may involve a number of risks. Actual events or results could differ materially from the Company's expectations and projections
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