{"id":1131638,"date":"2019-08-08T15:14:49","date_gmt":"2019-08-08T20:14:49","guid":{"rendered":"https:\/\/www.mining.com\/?p=998858"},"modified":"2019-08-08T15:14:49","modified_gmt":"2019-08-08T20:14:49","slug":"eastmain-options-high-grade-project-to-benz-mining","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1131638","title":{"rendered":"Eastmain options high-grade project to Benz Mining"},"content":{"rendered":"<p>Eastmain Resources (TSE: ER) has optioned one of its three gold projects in Quebec\u2019s James Bay region to junior Benz Mining (CVE: BZ).<\/p>\n<div class='d-flex justify-content-center'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>The past-producing Eastmain project has indicated resources of 899,000 tonnes grading 8.19 g\/t gold, 0.13% copper and 8 g\/t silver. Inferred resources add 579,000 tonnes grading 7.48 g\/t gold, 0.16% copper and 8.2 g\/t silver.<\/p>\n<p>Benz can earn a 75% stake in the project through payments of $2.5 million (up to $875,000 can be paid in shares) and project spending of $3.5 million over four years. To earn a 100% interest, Benz will also need to make milestone payments of $1 million and $1.5 million linked to the company achieving project financing and then production. Eastmain will also hold a 2% NSR royalty after the first 250,000 oz. of production.<\/p>\n<p>The Eastmain project produced around 40,000 oz. gold at a grade of 10.58 g\/t gold in the 1990s.<\/p>\n<p>Eastmain Resources is focused on its most advanced property, Clearwater, as well its Eleonore South joint venture with Newmont Goldcorp and Azimut Exploration. Clearwater hosts the high-grade Eau Claire gold project, for which the company released a preliminary economic assessment in May 2018.<\/p>\n<p>Thursday afternoon, Benz Mining&#8217;s stock was up 25%, with trading volume reaching 155,500. The company&#8217;s average daily trading volume is 18,428, and it has a $C1.97 million market capitalization. <\/p>\n<p><em>(This article first appeared in the&nbsp;<\/em><a rel=\"noreferrer noopener\" href=\"http:\/\/www.canadianminingjournal.com\/\" ><em>Canadian Mining Journal<\/em><\/a><em>)<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Benz Mining&#8217;s stock was up 25% Thursday afternoon.<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[369,4],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1131638"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1131638"}],"version-history":[{"count":1,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1131638\/revisions"}],"predecessor-version":[{"id":1131639,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1131638\/revisions\/1131639"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1131638"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1131638"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1131638"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}