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| | January 21, 2009
East Asia Minerals Encounters Additional 200 Metres of 4.11 g/t Gold in Miwah Channels
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| | For Immediate release, January 21, 2009 TSXV: EAS
VANCOUVER, B.C. -- Wednesday, January 21, 2009 -- East Asia Minerals Corporation (TSXV-EAS) continues to encounter significant gold intercepts from rock sawn channel sampling at its Miwah Gold Project located in Aceh Province, North Sumatra, Indonesia. The latest results have encountered high grade gold from the central part of Block M, including 20 metres of 14.00 g/t gold, 10 metres of 3.70 g/t gold, 32 metres of 2.41 g/t gold and 20 metres of 1.45 g/t gold, over 200 metres of strike within the plus 1000 metre long continuously gold mineralized Miwah zone. Also, rock chip samples with anomalous gold values were collected from Sipopok, a newly discovered mineralized system located 1.5 kilometres northeast of Miwah.
Miwah Trenching Update
Additional encouraging assay results have been received from rock sawn channel sampling in trenches at the Miwah Gold Zone (view map at www.EAminerals.com). Results from the central Block M area returned consistently strong gold mineralization averaging 4.11 g/t gold across a 200 metre long, semi-continuous channel. Selected un-cut composite trench intervals include:
• 20 metres of 14.00 g/t gold (Trench 119);
• 6 metres of 6.19 g/t gold (Trench 121);
• 10 metres of 3.70 g/t gold (Trench 117);
• 32 metres of 2.41 g/t gold (Trench 118);
• 5 metres of 1.61 g/t gold (Trench 115);
• 20 metres of 1.45 g/t gold (Trench 116);
• 34 metres of 0.75 g/t gold (Trench 114);
• 15 metres of 0.61 g/t gold (Trench 112);
• 50 metres of 0.58 g/t gold (Trench 103);
Michael Hawkins, President and CEO of East Asia Minerals Corporation stated "We continue to be very encouraged by the tenor and continuity of our rock sawn channel sampling of the huge, well exposed Miwah high sulphidation epithermal gold system. Miwah is so well exposed at surface that we are very confident of the overall size of the system, and as our rock sawn sampling program progresses we are likewise confident that the overall grade of the system might approach, or perhaps even surpass that of the nearby world class Martabe gold deposit."
Ongoing detailed surface mapping and sampling will form the basis for selecting optimum drill targets which are anticipated to be drill tested in Q2 2009.
Sipopok
EAS has recently discovered another mineralized zone at Sipopok, located 1.5 kilometres northeast of the Miwah Gold Zone. Initial rock chip channel sampling returned anomalous gold values including 12 metres of 0.78 g/t gold, 11 metres of 0.45 g/t gold and 35 metres of 0.33 g/t gold. This sampling has only partially tested a small part of this new and potentially large mineralized system currently identified over approximately 1000 by 1000 metres. The alteration facies sampled was predominantly alunite-silica which is typical of the peripheral parts of high sulphidation epithermal systems. Follow up mapping and sampling are required to identify the more productive silicified part of the system.
Project Background
Extensive surface channel sampling by EAS and a previous explorer shows that mineralization in the Miwah Gold Zone occurs within a well defined, one square kilometre zone of high sulphidation alteration. Better gold mineralization is closely related to a well-defined body of massive, residual vuggy silica-sulphide forming an impressive resistant, east-northeast trending cliff traced for over 1000 metres along strike, averaging 300 metres wide and up to 200 metres high.
Miwah demonstrates many features of the shallow part of a high-level high sulphidation ("HS") epithermal gold system, including intense acid leaching, strong structural and lithological permeability controls to fracture fed mineralizing fluids, presence of structurally-controlled hydrothermal and phreatic breccias, disseminated mineralization of gold-silver much greater than copper, and the elemental association of As, Sb, Bi, Ba, S and Te.
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. In addition to similarities to Martabe, the Miwah project also exhibits a likeness to the size, style and geometry of the alteration system developed at another important HS gold deposit, 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).
Miwah was partially defined by approximately 3000 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 clearly parallel to higher grade (greater than 5 g/t gold) structures at surface, and hence significantly higher overall grades are anticipated from better oriented drill holes. The total 2,316 rock saw channel samples collected by EAS in 2008 averaged +1 g/t gold and +3 g/t silver and the Company believes that this underlines the huge, world-class potential of this high sulphidation gold system.
Samples reported were assayed at Intertech assay laboratories in Jakarta. David Royle, B.Sc. (Hons), FAusIMM, CP, the designated QP within the meaning of 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 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 drilled to define NI43-101 compliant resources. The Company owns twelve uranium properties, including the advanced Ingiin-Nars, Ulaan Nuur and Enger uranium projects, four phosphate properties, and a 75% interest in the Khok Adar copper oxide discovery in Mongolia. East Asia currently has 55,645,372 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.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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FOR FURTHER INFORMATION, visit the Company's website at www.EAminerals.com, or contact:
Michael Hawkins, President and CEO
Vancouver
T: +1-604-684-2183
E: [email protected]
or
Nick Kohlmann, Corporate Communications
Toronto
T: +1-416-792-8734
E: [email protected] |
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