This ultramafic intrusion is located within Eastmain’s Lac Lessard Project in the region of James Bay, Quebec, approximately 10 kms east of the newly constructed Route 167 North, infrastructure built as part of the provincial governments Quebec Nord initiative.
Highlights
- Drill-testing 10 highly conductive VTEM geophysical targets
- Surface sampling confirms anomalous Ni-Cu-PGM’s within highly prospective host
- Excellent infrastructure – close proximity to Route 167 North and Eastmain Mine camp
- Project funded by DBL – $2.5 M to earn 50% over four years
In November 2014, Eastmain granted Darnley Bay Resources (“DBL”) the right to earn a 50% interest in the Lac Lessard Project in exchange for $2.5M in work expenditures, cash payments of $200,000 and 1.6 M DBL common shares. The first year work commitment includes $500,000 in work expenditures and cash payments of $50,000, with the project to be managed by Eastmain. The transaction has been approved by the Toronto Stock Exchange and the TSX Venture Exchange.
In December 2013, Aeroquest completed an airborne geophysical survey (613 line-kilometres of VTEM and Magnetics) covering the Crete-du-Coq ultramafic intrusion on Eastmain’s behalf. A number of isolated VTEM anomalies (electromagnetic conductors) were detected from the survey, including anomalies with very high conductivities, interpreted to represent potential disseminated to massive sulphide sources, possibly representing nickel-copper-PGM (Platinum Group Metal) mineralization.
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