TSX TSX-VEN CDN Any US
Canadian Company Press Releases
EAS 2010-02-17 (provided courtesy of Marketwire.)
register to receive future releases by email from Marketwire
East Asia Minerals Drills 9.29 g/t Gold Over 21 Metres Within 81 Metres Grading 4.08 g/t Gold; Miwah Main Zone Extended Further to the North
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 17, 2010) - East Asia
Minerals Corporation (TSX VENTURE:EAS) reports that strong gold
mineralization continues to be encountered at the Miwah Main Zone in Aceh
Province, Northern Sumatra, Indonesia. In the western area EMD017, partials
for EMD018, and EMD019 respectively encountered 1.36 g/t gold over 20.5
metres, including 1.67 g/t gold over 15.5 metres; 3.29 g/t gold over 47
metres (partials - hole continues in mineralization with assays pending);
and 4.08 g/t gold over 81 metres, including 9.29 g/t gold over 21 metres.
This drilling has extended the gold zone further to the north where it
remains open. East Asia has validated the 1.2 kilometre east-west width of
the shallow, laterally extensive Main Miwah Gold Zone, and has encountered
gold mineralization in all of its holes. The Main Miwah Gold Zone remains
open in all directions with the Moon River area expanding the north-south
potential from 400 metres to more than 600 metres, whilst remaining open
further to the north.
EMD017 was drilled with a 115 degree azimuth and 55 degree dip, from a
location 150 metres north of EMD001/002/003 where 1.71 g/t gold over 158.0
metres, including 3.29 g/t gold over 66.0 metres; and 2.25 g/t gold over
142.9 metres, including 4.31 g/t gold over 51.0 metres were encountered to
the southwest by the Phase One drill campaign. This hole was designed to
test silicification and mineralization northeast from the Miwah Bluff
portion of the Main Zone. Gold mineralization was encountered to 72.0
metres downhole depth where it is locally cut off to the east by the Rusa
Fault Zone; the same fault zone that cut off gold mineralization in EMD001.
The hole continued in the Rusa Fault Zone to the end of hole. Gold grading
1.36 g/t was encountered from 51.5 to 72.0 metres downhole depth, including
1.67 g/t gold from 51.5 to 67.0 metres. The mineralization is interpreted
to continue further east of the Rusa fault towards EMD014, and to remain
open at depth and in all other directions.
EMD018 is in progress at 244 metres with a due north azimuth and 30 degree
dip to test the area north of EMD001/002/003. Strong visually altered and
mineralized rock was encountered from 39 to 158.55 metres, 213.4 to 221.5
metres, and from 238.95 to the current depth of 244 metres where the hole
is in progress. EMD018 will be drilled to at least 300 metres. Assays have
been received for the upper part of the hole (ending in strong gold
mineralization) and grade 3.29 g/t from 39 to 86 metres downhole depth. The
mineralization is open in all directions and at depth, and is interpreted
to be contiguous to the southwest towards EMD003, which encountered 2.25
g/t gold over 142.9 metres including 4.31 g/t gold over 51.0 metres, to the
northeast towards EMD017, and north past EMD019. Assays remain pending from
86 metres.
EMD019 was drilled with a due south azimuth and 50 degree dip to test the
area north of EMD001/002/003/018. Gold grading 4.08 g/t was encountered
from 82 to 163 metres downhole depth, including 9.29 g/t gold from 90 to
111 metres. The mineralization is open in all directions and at depth, and
is interpreted to be contiguous to the southwest towards EMD003, to the
northeast towards EMD017, and south past EMD018.
"We consider the results from holes EMD017/018/019 to be very encouraging",
stated Michael Hawkins, President and CEO of East Asia Minerals
Corporation. "Together with the earlier announcement of strong gold results
from drill hole EMD014, these new results are significantly north of the
previously outlined gold mineralization and confirm our interpretation that
Miwah extends much further northwards than previously thought."
EMD020 has been completed at 200 metres depth. It was drilled with a 205
degree azimuth and 50 degree dip to test the area to the west of EMD019.
The targeted strong vuggy silica alteration was encountered from 77.4 to
185.55 metres downhole, suggesting that the vuggy silica alteration may be
thickening to the west. Assays are pending.
EMD021 is in progress with a 250 degree azimuth and 50 degree dip in
visually altered and mineralized rock to test the vuggy silica alteration
to the northwest of EMD020. (Refer to drill location map on Company's
website at www.EAminerals.com).
Miwah Background
The Miwah Gold Prospect was partially defined by approximately 3,100 metres
of drilling in twelve holes by a previous explorer in 1997. All holes
drilled during this program intersected significant alteration and
mineralization with intercepts including 71 metres of 1.4 g/t gold and 58
metres of 1.1 g/t gold. The previous explorer suggested potential for 100
Mt at 1.1 to 1.2 g/t gold, however a review of the historical data
indicates that early drilling was parallel to higher grade (greater than 5
g/t gold) structures at surface. Hence, in addition to greater mineralized
tonnage, significantly higher overall grades are anticipated from better
geological understanding, results of the Company's detailed sampling, and
properly oriented drill holes.
Based on the Company's work Miwah is resolving into two components; a large
1,200 metre long, at least 300 to 400 metre wide, approximately 200 metre
thick tabular zone; and vertical diatreme breccia feeder zones that are
beneath and cut through this. At Miwah Gold Zones, East Asia has almost
2,500 metres of rock sawn channel samples which average 2.35 g/t gold.
Grade expectations in Main Miwah Gold Zone exceed 1.5 g/t gold. Ongoing
sampling verified the Company's confidence that higher overall gold grades
can be achieved due to the presence of multiple high grade rock sawn
channel samples throughout the strike, including 4.11 g/t gold over 200
metres at the eastern part of the Main Miwah Gold Zone, and 4.35 g/t gold
over 27 metres at the western part. Recent drilling has supported this. In
addition to the tabular zone the Company has begun to characterize some of
the diatreme breccia feeder zones, with rock sawn channel samples including
83.59 g/t gold over 24 metres and 20.14 g/t gold over 12 metres. Recent
drilling has supported this. These feeder zones have great potential to
develop into substantial tonnages of higher grade gold mineralization in an
area adjacent to the Main Miwah Gold Zone.
The Miwah Property is in a very similar volcanic setting to the Martabe
gold-silver deposit, also located in North Sumatra (Purnama and Baskara
resources: 127.8 million tonnes at 1.4 g/t gold (5.5 million ounces gold)
and 15 g/t silver (60 million ounces silver), and the alteration system is
of a comparable size. Miwah also exhibits a likeness to the size, style and
geometry of the alteration system developed at the Pierina gold deposit in
Peru (67.7 Mt grading 2.98 g/t gold and 22 g/t silver, giving a total 6.49
million ounces gold and 47.9 million ounces silver).
Samples reported were assayed at Intertek assay laboratories in Jakarta.
Lionel Martin, P.Geo., the designated QP within the meaning of NI 43-101,
has reviewed and approves the content of this release. East Asia has not
verified the classification of the resource references and is not treating
them as NI 43-101 defined resources verified by a QP. Although the
references of resources are relevant to recognizing the potential of the
Miwah project, they should not be relied upon.
About East Asia Minerals Corporation
East Asia Minerals (TSX VENTURE:EAS) is an Asian-based, Canadian mineral
exploration company with gold and copper exploration properties in
Indonesia, and uranium exploration properties in Mongolia. In Indonesia the
Company has a 70 to 85% interest in six advanced gold and gold-copper
properties located in Aceh Province, Sumatra, and Sangihe Island, North
Sulawesi. Two of these, the Sangihe (Binebase-Bawone) and Barisan 1 (Abong)
gold projects, are being advanced to define NI43-101 compliant resources.
The Company owns eight uranium properties, including the advanced
Ingiin-Nars, Ulaan Nuur and Enger uranium projects, and two phosphate
properties in Mongolia. East Asia currently has 71,394,872 shares
outstanding. Its shares are listed for trading on the TSX Venture Exchange
under the symbol "EAS".
Forward Looking Statements - This News Release contains forward looking
information within the meaning of the British Columbia Securities Act, the
Ontario Securities Act and the Alberta Securities Act, which involve known
and unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of the Company, or industry
results, to be materially different from any future results, performance or
achievements expressed or implied by such forward-looking statements.
Forward-looking statements are subject to a variety of risks and
uncertainties which could cause actual events or results to differ from
those reflected in the forward-looking statements, including, without
limitation, risks and uncertainties relating to the interpretation of drill
results and the estimation of mineral resources and reserves, the geology,
grade and continuity of mineral deposits, the possibility that future
exploration, development or mining results will not be consistent with our
expectations, metal recoveries, accidents, equipment breakdowns, title
matters and surface access, labour disputes or other unanticipated
difficulties with or interruptions in production, the potential for delays
in exploration or development activities or the completion of new or
updated feasibility studies, the inherent uncertainty of production and
cost estimates and the potential for unexpected costs and expenses,
commodity price fluctuations (including uranium, fuel, steel and
construction items), currency fluctuations, failure to obtain adequate
financing on a timely basis and other risks and uncertainties. Should one
or more of these risks and uncertainties materialize, or should underlying
assumptions prove incorrect, actual results may vary materially from those
described in forward-looking statements. Accordingly, readers are advised
not to place undue reliance on forward-looking statements. The words
anticipate, believe, estimate and expect and similar expressions, as they
relate to us or our management, are intended to identify forward looking
statements relating to the business and affairs of the Company. Except as
required under applicable securities legislation, we undertake no
obligation to publicly update or revise forward-looking statements, whether
as a result of new information, future events or otherwise.
To receive or stop receiving EAS news via email, please email
Info@EAminerals.com and state your preference in the subject line.
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
East Asia Minerals Corporation - Vancouver
Michael Hawkins
President and CEO
+1-604-684-2183
Hawkins@EAminerals.com
or
East Asia Minerals Corporation - Toronto
Nick Kohlmann
Corporate Communications
+1-416-792-8734
Kohlmann@EAminerals.com
www.EAminerals.com
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Please send comments or suggestions to feedback@mplcomm.com
© 1996 - 2010 MPL Communications Inc.
Legal Notices Privacy Policy
|
