Acting on the principle that two treasuries are better than one,
Although best known for its gold projects in Quebec, Eastmain has picked up a large property package from BHP Minerals, which had pulled out of various exploration projects in eastern Canada last year. The BHP transaction provided Eastmain with properties covering known mining trends in the areas of Matagami, Que., and Bathurst, as well as the Abitibi Extension project in northern Ontario. The company also acquired an exclusive database, which includes numerous untested base metal targets.
Within the Bathurst camp, Eastmain holds 900 claims covering 14,600 ha in nine projects. The land package, though still in the early stages of exploration, is believed to be prospective for deposits similar to those being mined (or previously mined) in the camp, such as Brunswick #12, Brunswick #6, Heath Steele and Caribou.
The Tingley Brook property is in the southern part of the camp and covers a 10-km-long strip of Nepisiguit volcanic rocks, host to the Bathurst base metal mines. To fund exploration, Eastmain formed a joint venture with Bubbee Ventures, which can earn a 25% interest in the 2,352-ha property by spending $150,000 on exploration by the end of 1999. Eastmain will act as operator.
Surface exploration is slated for the first quarter in preparation for drilling of numerous geochemical and geophysical anomalies. Eastmain also plans to drill and trench its Railroad and Island Lake projects in the Bathurst camp.
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