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EAS 2010-04-09 (provided courtesy of Marketwire.)
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East Asia Minerals Bottoms Hole With 15.74 g/t Gold Over 22 Metres Within 111 Metres Grading 3.96 g/t Gold; Extends Miwah Further North Towards Moon River With Increas
VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 9, 2010) - East Asia
Minerals Corporation (TSX VENTURE:EAS) announces that drilling has extended
the Miwah Main Zone towards Moon River at the Miwah Gold Project in Aceh
Province, Northern Sumatra, Indonesia. EMD024 encountered 3.96 g/t gold
over 111 metres, including 15.74 g/t gold over 22 metres, indicating
increasing grade and thickness to the north. The hole was terminated, due
to rig limitations, at 209 metres with the penultimate and ultimate metre
intercepts downhole grading 17.25 g/t gold and 20.6 g/t gold respectively.
East Asia has drill validated the 1.2 kilometre east-west outcrop width of
the shallow, laterally extensive Miwah Main Zone, and has encountered gold
mineralization in all of its holes. The Miwah Main Zone remains open in all
directions with the Moon River area expanding the north-south potential to
more than 600 metres, whilst remaining open further to the north towards
Sipopok. Sampling west of the Miwah Main Zone has potentially expanded the
east-west width another 600 metres. The Company notes that with the latest
drilling results that the Miwah Main Zone has now been extended towards a
similar northing as Moon River.
EMD024 was drilled with a due north azimuth and 55 degree dip, 125 metres
north from EMD023, and was completed at 209 metres downhole depth. This is
the furthest north the Company has drilled the Miwah Main Zone to date,
with the mineralization continuing to the end of hole and beginning to
firmly establish a link with Moon River. Gold grading 3.96 g/t was
encountered from 98 to 209 metres, including 15.74 g/t gold from 187 to 209
metres. The gold is open to depth and in all directions, and is interpreted
to be contiguous to the south where EMD018 encountered 2.18 g/t gold over
116 metres including 3.28 g/t gold over 61 metres, and EMD019 encountered
4.08 g/t gold over 81 metres including 9.29 g/t gold over 21 metres. Along
section the mineralization is increasing in grade and thickness to the
north.
EMD025 was drilled with a due west azimuth and 55 degree dip, to test west
from EMD024, and was completed at 210 metres downhole depth. Commencing at
87.8 metres depth the hole encountered multiple zones of visually altered
and mineralized rock to 206.6 metres. Assays are pending.
EMD026 is being drilled with a 310 degree azimuth and 50 degree dip,
targeting the extension of silicification to the north and east of the
Miwah Bluff portion of the Miwah Main Zone. It is a north-westerly step out
from EMD014. The hole is progressing well, having encountered visually
altered and mineralized rock from 104 metres downhole depth.
EMD027 is commencing with a 180 degree azimuth and 55 degree dip, to
confirm thickness and test for gold grade variation in the high-grade vuggy
silicification north from EMD023 (Refer to drill location map 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 71,455,372 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
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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
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