Eastmain Resources Inc. TICKER: TSX:ER DESCRIPTION: Eastmain is a Canadian gold exploration company with 100% interest in the Eau Claire and Eastmain gold deposits. The company has in excess of $21 million in working capital and holds an interest in 12 projects within the James Bay District, including the Eleonore South property, where a gold discovery has been found in a similar geologic setting to Goldcorp's Roberto deposit. Eastmain's 2010 budget is $7.5 million for gold exploration in Quebec.
Click here to view Eastmain Resources Corporate Presentation. (12/09)
Watch Peter Grandich discuss Eastmain Resources on Market Call (1/15/10)
"We know [Eastmain's] management; we know the geologists; we know what they're doing. One thing I'd emphasize about Eastmain is that they're in Quebec, and that's probably one of the best mining-friendly locations anywhere in the world. They give them tax breaks. They have trained employees; they've got geologists. They have shipping; they've got rail. They have all the ingredients to run a good mine, and if you've got management as good as we see in Eastmain, expect their drilling program to be successful. We think they're going to find some fine deposits, and considering the infrastructure in Quebec—water, power grid, roads and so on—things bode well for the stock."
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The Gold Report Interview with Éric Lemieux (05/17/10)
EL: Eastmain's Eau Claire project is in the James Bay area, south of Eleonore. It's one that they've done quite a lot of work on in the last five years but have been focusing more on the open-pit part of the project. The expectation now is to have a new mineral resource estimate by the end of June.
TGR: How large do you expect the estimate to be?
EL: It could almost reach the 1-million-ounce target in terms of an open-pit scenario. Having said that, there could be an underground portal to get to the underground continuation of the mineralized zones. It's a deposit that is very wide open at depth. It has very narrow veins but it's very high grade. The gold is there. If you look back 10, 15 years ago, to access that project you had to either fly in with a plane or helicopter. Now you can go up there with your pickup truck.
The Gold Report Interview with Mike Kachanovsky (03/17/10)
TGR: Any other companies from our last interview that you could comment on?
MK: Let's see. Eastmain Resources. I've been a holder of Eastmain probably since 2003 and have never actually traded it. The management is superb. They've been focused and remain focused on the same part of the world. Year after year good markets or bad they just continue to move things forward. They've attracted some exceptional senior partners to work with, Goldcorp Inc being the most obvious one that most investors are familiar with. I think the best validation of that story comes from the fact that they've just recently closed a placement to raise additional money that I believe was 60% or 70% above the market price. If you're familiar with the way most companies raise money, they usually have to dangle some sort of a market discount in order to attract a large financing. For Eastmain to be able to secure millions of dollars so far above market price tells me I'm not the only one that believes this company has a great future. Quebec is one of the best mining jurisdictions in the world. There's just not that same upside initial discovery potential in Quebec that you may have from somewhere like Mexico that hasn't seen a lot of that development exploration work. Eastmain is a bit of an anomaly in the fact that they grabbed a lot of their landholdings back in the late '90s when the mining sector was in a severe recession. For a very small Canadian junior to have such excellent property holdings that are now attracting major partners, it's just another feather in their cap.
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Canaccord Capital, Morning Coffee
(01/22/10)
"Eastmain Resources bucked the negative storm blowing through the broader markets Thursday, jumping after announcing assay data from the last 16 drill holes of 2009 and additional metallurgical test results from its Eau Claire Gold Deposit, located in James Bay, Québec. Highlights included assays up to 12.07 g/t Au over 5.5 meters and metallurgy of 95.7 to 98.8% gold recoveries. A total of 21,276 meters (68 HQ drill holes) were drilled in 2009 to expand the Eau Claire gold resource within the upper 300 meters. The company highlights that over the last two years more than 25% of all vein intercepts drilled contain over one ounce gold per ton. Furthermore, 70% of all gold-enriched vein and schist material intersected at Eau Claire within this period contains one-half (0.50) ounce gold per ton over an average thickness of 1.34 meters. Of interest, the most recent resource estimate for the Eau Claire gold deposit, completed in 2005, was based on 182 gold-bearing vein intercepts. Management stated that drilling over the past two years has intersected 500 gold-bearing veins at a significantly higher grade than the previous estimate, within the upper 1/3 of the deposit. A substantial number of the current drill intercepts are from the T-Vein group, which is located north of the previous resource limits."
Ron Struthers, Struthers Resource Stock Report
(01/20/10)
"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."
Eastmain Resources Inc. 
Watch Peter Grandich discuss Eastmain Resources on Market Call (1/15/10)
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