Eastmain and Soquem boost Clearwater resource

Partners Eastmain Resources (ER-T) and Quebec-government-owned Soquem have upped the resource estimate of their jointly held Clearwater (or Eau Claire) gold property in the James Bay region of northwestern Quebec.

The indicated resource now stands at 700,000 tonnes grading an uncut 10.43 grams gold per tonne (8.59 grams cut), additional inferred resources amount to 420,000 tonnes grading an uncut 4.15 grams gold, for a total of 291,784 contained ounces gold.

The revised estimate — which takes into account veins D, G, H, I, JQ, P, R and S — represents a 30% increase in the indicated resource tonnage and a 50% increase in contained ounces.

A 6-hole, 2,250-metre drilling program is testing the known veins at depth, as well as a new group of veins encountered in hole 96-06.

This summer, the partners will carry out metallurgical work and more stripping at the Clearwater, Cannard and Natel deposits.

With 11.9 million shares outstanding, junior explorer Balaclava Mines (BIL-V) intends to consolidate its share capital on the basis of up to 10 existing shares for one new share.

The consolidation will make it easier to carry out equity financings and to attract new business opportunities. A shareholders meeting has been set for April 27.

El Bravo Resources International Ltd. (EBG-V) has changed its name to Tri-X International Ltd. (TXI-V) on a 1-new-for-14-old-share basis.