Eastmain Resources Inc.

Eastmain Resources is a Canadian gold exploration company with 100% interest in the Eau Claire and Eastmain gold deposits. The corporation has in excess of $20 million in working capital and holds an interest in 12 projects within the James Bay District, including the Éléonore South property, where a gold discovery has been found in a similar geologic setting to Goldcorp's Roberto deposit. Eastmain has an annual budget of $4 million for gold exploration in Québec.

Click here to view Eastmain Resources Corporate Fact Sheet.

Watch Peter Grandich discuss Eastmain Resources on Market Call (1/15/10)

Click here to listen to Al Korelin interview with Don Robinson, President of Eastmain Resources. (6/11/09)

"As I stated in my last update on Eastmain 'I have not suggested taking any profits in the stock yet as they just have too many good things going for them.' Well since then the stock has been climbing steadily and is up another 50% jumping about $0.30 in the past couple months. They have been drilling with good success, including 48 holes at the Eau Claire gold deposit with great results up to 26.5 g/t gold over 3.4 meters. Also awesome news on preliminary metallurgical test work on the primary grind indicate impressive gold recoveries, ranging from approximately 94%–96%, solely from gravity plus flotation techniques.

They announced their first drill results at their Eleonore South JV with Goldcorp and Azimut. Drilling to date, though still early-stage, has produced very significant initial results, suggesting an extremely large, near-surface and gold-enriched halo within mine-series rocks, similar in nature to the geochemical halo surrounding Goldcorp's nearby Roberto.5.3M oz deposit. The depth extension and northern trend of the JT zone halo have not been drill tested yet. All of the holes completed within the zone sector intersected wide intervals of anomalous gold within Roberto-type, altered stratigraphy. Quartz veining, silicification and tourmaline mineralization, common to Roberto, also occur within a number of core intervals. The stock hit a new high of 1.75 and at 1.61 we are up about 310% and we can no longer ignore these large profits so I am suggesting taking part profits, selling 1/3 position."
    -   Struthers Resource Stock Report (01/20/10)

"Eastmain Resources is focused on the exploration and development of its flagship asset, namely the 100%-owned Clearwater gold project, which is host to the Eau Claire deposit, located in the James Bay Lowlands, Quebec. Eastmain shareholders were rewarded with a 41 % stock price return in 2009.

At the Eau Claire deposit last year, drilling focused on expanding the existing gold resource (Indicated resource: 1 Mt @ 9.46 g/t Au and Inferred resource: 3 Mt @ 6.9 g/t Au), delineating a potential open pit, and defining a resource base (including measured resources) to a 300m vertical depth. Highlights from the 2009 drill program included 24.81 g/t Au over 2.0m.

Look for results from the remaining holes drilled in 2009 at Eau Claire and other properties, metallurgical test work, and an updated resource in Q2/10. With a strong treasury ($15 million) and Goldcorp (G-T, not rated) as a strategic partner (9% owner), Eastmain is well-positioned to grow and develop its prospective portfolio of Quebec-focused properties that offer high-grade potential supported by low geopolitical risk."
    -CHRIS THOMPSON,   HAYWOOD SECURITIES (01/19/10)

TGR: Any other juniors that pique your interest?

VG: Sure. Eastmain Resources Inc. (TSX:ER). All I really tell anybody who asks me about Eastmain is, 'Buy it and put it away.' I talk about very few companies that way, and rarely would that apply to a company that is not a major. Eastmain is nowhere near a major, but they're in great shape. They have a beautiful deposit, over a million ounces of high-grade material at Clearwater. They've had results as high as 75 ounces per ton gold, but the lower grade 1 ounce per ton material is consistent throughout the property. The beauty is it's not just some little core area with these nice newsworthy grades. It's everywhere.

This is very attractive to a major, and Goldcorp Inc. (NYSE:GG) just so happens to be very nearby. So as far as I know, Eastmain will continue to develop their project until it's time for Goldcorp to buy them out. Goldcorp already owns 9.9%. But Eastmain is in a perfectly good position. They've got all weather roads, they've got power lines going to the property, James Bay is right there. So they have all the ingredients and if they wanted to go after this on their own, they could. But they've also got the luxury of being right beside a very interested major. On top of all of this, Eastmain has $17 million in the bank, which is really like having $25 million because for every dollar you put in the ground, you get 50 cents back from the government in Quebec. Very few jurisdictions do that.
    -   The Gold Report Interview with Victor Goncalves (11/06/09)

Eastmain listed in Mineweb's World's 100 Hottest Gold Stocks. Read full article.
    -   Mineweb (11/04/09)

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