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 government’s Quebec Nord initiative.
Highlights
- Drill-testing 10 highly conductive VTEM geophysical targets
- Surface sampling confirms anomalous Ni-Cu-PGM 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, 1.6 M common shares of DBL and cash payments of $200,000.
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.
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), interpreted as potentially disseminated to massive nickel-copper-PGM (Platinum Group Metal) mineralization, were detected on the Lac Lessard property.
Prospecting and geological targeting, completed by Eastmain during the 2014 field campaign, confirmed that several very-highly conductive airborne anomalies associated with Crete-du-Coq ultramafic intrusion contained disseminated sulphides, with elevated nickel-copper-PGM values.
