Eastmain Resources (ER.TO) has announced more drill results on its Clearwater project, located in the James Bay region in Québec, Canada. These are more results from the 2013 drill program, which was focused on delineation of the upper 300 meters of the 450 West Zone, resulting in no less than 122
gold bearing intersections.
Of interest is an intercept of 10 meters at 9.69g/t which includes an extremely high grade intercept of 2.5 meters at in excess of one ounce of gold per tonne. The project is quite nuggety as evidenced by other intercepts such as 0.5 meters of 217g/t gold and 257g/t gold.
At the end of October last year, Eastmain Resources had a working capital position of C$2.6M, which means the company can continue its exploration efforts for another while before having to tap the capital markets again.
> Click here to read the press release
Disclosure: The author holds no position in Eastmain Resources. Please see our disclaimer for current positions.
