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Message: Re: Hercules v. Eau Claire deposits
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Oct 22, 2007 06:15PM
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Oct 22, 2007 07:14PM

Oct 22, 2007 07:36PM
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Oct 22, 2007 08:12PM
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Oct 22, 2007 08:24PM
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Oct 22, 2007 08:40PM

Coach et al,

I did not take your post as spam what so ever. I found it in perfect context to help answer the question posed by Bill Chornobay and Mr. Maher at the conference:

"Try and find another gold bearing quartz mineralization of even half this size that was not turned into a mine."

I find this extremely relevant and an important question for discussion. Thank-you for giving the example of the Eau Claire deposit.

Eau Claire looks very probable that it will be turned into at least an open pit mine, but even more interesting to me is the fact that it has been pursued heavily by Goldcorp and other majors even though it is less than half the size of just the golden mile alone. If anyone thinks the majors haven't expressed interest in Hercules they would be seriously mistaken!

Take a look at Eastmain's fact sheet: http://www.eastmain.com/snapshot.php

In particular look at who they already have joint ventures with.

Highlights

* 100% ownership of two Gold Deposits (1.24M oz.);

1 M ounce Eau Claire deposit and Eastmain Mine.

Total gold resources:

565,000 ounces Measured & Indicated (M&I);

680,000 ounces Inferred.

* Éléonore South Project -

New Sedimentary hosted gold zone

10 km long target area

* Eau Claire gold deposit extended to 880 m depth;

Road accessible; future pit & ramp

Gold resources increased in 2006

* 1/2-price exploration in Québec (50% rebates)

* Major Shareholder - Goldcorp @9.5%

* Strategic Alliance Partner - Goldcorp

* Ontario Joint Venture project with Xstrata Copper

* 3.5M exploration budget in 2007

Joint Venture Partnerships:

* Barrick

* BHP Billiton

* Goldcorp

* Newmont

* Xstrata Copper (formerly Falconbridge)

* SOQUEM

* Azimut Exploration Inc

* Dianor Resources Inc.

*** Now if this is the case with Eastmain and (from coaches words who has visited the Golden Mile), “KXL is a better story, with higher grades, wider veins, and a larger surface footprint for the deposit, and the VG is far more prolific at Hercules”, what do you think majors might be thinking about us?

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