Approximately $2.4 million has been spent this year on exploration by Eastmain Resources (TSE) and partners Westmin Resources (TSE) and MSV Resources (ME) on several projects in the Eastmain area of Quebec.
Eastmain holds varying interests in 250,000 acres of land spread across 90 miles of favorable geological strike. This includes a block of 75 claims which were staked by the company this year. The claim block is being considered for drilling.
On the 100%-owned Highway permit property, anomalous gold values were detected by a geochemical sampling program. Grab sampling of a weathered zone assayed 0.105 oz gold per ton. The zone will be stripped and trenched.
On the Opinaca joint venture operated by Westmin, 4,500 ft of drilling was completed on the Clearwater permit and 2,200 ft on the Lichteneger permit. Both permit areas are part of the Opinaca joint venture lands.
Some of the better results from the Clearwater drill program include 3.3 ft grading 0.55 oz gold, 3.3 ft grading 0.14 oz gold and 4.9 ft assaying 0.3 oz gold per ton. On the Lichteneger property, drilling intersected 3.3 ft grading 0.31 oz gold and 13.1 ft assaying 0.14 oz gold per ton.
MSV earned a 20% interest in the Clearwater property by spending $1 million on exploration. A 20% interest will also be earned by MSV in the Lichteneger property after spending $549,000. After MSV earns in, Eastmain will hold 26.7% and Westmin 53.3%
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