Overview
From the web site: East Asia Minerals Corporation (TSX-V: EAS) is a well-financed, Asian-based, Canadian mineral exploration company with an aggressive exploration, acquisition and growth strategy. The Company explores advanced gold and gold-copper properties in Indonesia.
Advanced Projects
"...we believe that this project [Miwah] has true world-class (+5 MOz contained gold) potential" [Note: pronounced "mee-wah"]
From the web site:
Miwah is a high-level, high sulphidation epithermal gold prospect.
The Miwah Gold Prospect was partially defined by approximately 3,000 metres of drilling in eleven 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, 300 to 400 metre wide, approximately 200 metre thick tabular zone; and vertical diatreme breccia feeder zones that are beneath and cut through this. Within the tabular zone East Asia has over 2,000 metres of rock sawn channel samples which average 1.2 g/t gold (see summary table below). 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 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)*.
EAS is currently drilling at Miwah (see drill summary below). In September 2009 EAS announced that based on consistent strong gold results across the mineralized body diamond drilling will continue uninterrupted for approximately 45 holes to gather the information required to complete a NI43-101 resource estimate.
Miwah drill history:
1997 - 11 holes - 3000m (historical)
2009 - 14 holes - 2000m
2010 - 45 holes - 5600m (ongoing)
Milestones:
- Second drill rig (done)
- Third drill rig (done)
- Miwah Phase Two drilling completion (2010)
- Preliminary NI43-101 resource estimate on Miwah (H1 2010) - seems more likely the company will focus on drilling to find the extent of the mineralization (5/2010).
- Regional exploration drilling/Miwah: South Miwah Bluff (Q3 2010)
- Regional exploration drilling/Miwah: Moon River / Sipopok (Q3 2010)
- Regional exploration drilling/Abong: Lower Tengkereng, Bahu (Q3 2010)
Share Structure (As of May 31, 2010)
Shares Outstanding: 75,503,372
Warrants Outstanding 645,000@$0.75
Options Outstanding 3,892,000
Fully Diluted: 80,040,372
Cash: approximately CAD 20 million
Resources
Web Site - Corporate Presentation (3/10) - Fact Sheet (pdf)
EAS in the news
Search of SI for "eas.v"
Miwah Back-o-the-Napkin Ounce Counter - Google doc
Company Profile at 24hGOLD site
Charts: Daily, Weekly
Images
Miwah drill hole location map
East Block M drillhole and channel samples
East Block M drillhole and channel samples over magnetics
Miwah NS Section Looking West: V2 - V1
Miwah EW Section Looking North
Miwah Prospect Rock Gold Geochemistry (with Signal zone)
EMD008 Core at 120m, August, 2009 - 2.11 gpt Au
Miwah interpreted gold mineralization
Miwah district target map
Miwah regional geophysics (chargeability/resistivity)
Miwah regional aeromag with photos
Miwah map/photo - 2009 Annual Report
Miwah Block M: Sampling, Trench Sampling, Channel Samples
South Miwah Bluff: Trench Map (grade info added), Trench Samples, Soil Anomaly Map
Where is Aceh province?
Takengon - Collins
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Lower Tengkereng drill hole location map |
