Two drills starting at Eastmain (head)

Field crews are moving on to location and diamond drilling with two machines is being resumed on the extensive holdings of Eastmain Resources and Westmin Resources in the Eastmain River area of New Quebec. MSV Resources is earning an interest in certain specified sectors of this spread, which extends for 140 km along a favorable greenstone belt.

This season’s exploration expenditures are expected to exceed $3 million, Eastmain President E. M. Dillman tells The Northern Miner.

One drill will continue to evaluate the gold discovery in the Clearwater sector on which a previous hole returned 3.0 oz across 10.0 ft and a second hole 1,150 ft to the west intersected 0.41 oz across 3.0 ft, 2.63 oz across 1.0 ft and 0.20 oz across 3.0 ft.

The other drill will probe targets in five other areas including the 24-claim Lac Delta option where previous drilling returned 9.75m that assayed 1.31% copper and 6.7 silver and 15.4m in a second hole that ran 3.0% zinc and 9.28g silver.

Surface exploration will also be carried out on another permit area which straddles the regional all- weather highway and which is held 100% by Eastmain. An airborne survey carried out earlier this year picked up a series of interesting looking anomalies on this ground.

In addition to the equity financing carried out earlier this year by Eastmain when its shares were called for trading on the tse, arrangements have been made for the sale of 486,111 flow-through shares at $1.44 per share for a total of $700,000, Mr Dillman says.