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| | July 27, 2010
East Asia Encounters 4.27 g/t Gold Over 21.9 Metres Within 149.3 Metres Grading 1.43 g/t Gold at Miwah and Ends in Mineralization; Third Drill Commences
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| | For Immediate Release, July 27, 2010 TSXV: EAS
VANCOUVER, B.C. -- Tuesday, July 27, 2010 -- East Asia Minerals Corporation (TSXV-EAS) announces that it continues to expand the gold-rich Miwah Main Zone in Aceh Province, Northern Sumatra, Indonesia, and has further confirmed the potential to connect with the Moon River area. EMD037 encountered 1.43 g/t gold over 149.3 metres, including 4.27 g/t gold over 21.9 metres where the hole stopped due to poor drilling conditions. Although a replacement hole is in progress to determine the full extent of the mineralized horizon at this location, EMD037 covers a large area of the deposit extending north from East Asia's existing drilling.
The Company also announces that a third rig has commenced diamond drilling at Miwah. Two rigs will be used to continue exploration in the area from the Miwah Main Zone to Moon River. The third machine has commenced regional targeting to the west of the Miwah Main Zone, at the Signal area. This rig will also be used to test east of the Miwah Main Zone in the East Block M area where rock chip sampling encountered up to 2.78 g/t gold; and at Sipopok where detailed drill targeting work is ongoing in this more rugged terrain.
EMD036 was drilled with a due west azimuth and 55 degree dip to test for continuity directly west of EMD035 and to further explore/expand the west extension of the Miwah Main Zone under shallow cover. The hole was completed at 200 metres and encountered 0.42 g/t gold from 18.1 to 42 metres (23.9 metres), 0.63 g/t gold from 59 to 105.9 metres (46.9 metres), and 0.84 g/t gold from 158.7 to 186 metres (27.3 metres). The mineralization is open to the west and at depth, and is interpreted to be contiguous to gold-rich holes drilled in all other directions.
EMD037 used the larger capacity drill rig, and was drilled with a 135 degree azimuth and 40 degree dip towards EMD008-012A (EMD-008 drilled 2.11 g/t gold over 100 metres, including 4.81 g/t gold over 30 metres; and EMD012A drilled 1.28 g/t gold over 183.5 metres, including 1.79 g/t gold over 113.2 metres and 2.11 g/t gold over 77.7 metres). This hole was designed to validate a large area to the east of EMD033 and to continue to prove up the potential to connect the Miwah Main Zone with the Moon River area. EMD037 encountered 1.43 g/t gold from 37 to 186.3 metres, including 4.27 g/t gold from 164.4 to 186.3 metres where the hole was abandoned in high-grade gold mineralization due to difficult ground conditions. It was replaced by EMD037B.
Replacement hole EMD037B is progressing well with a 129 degree azimuth and 50 degree dip, targeting the same area of the Miwah Main Zone as abandoned EMD037. EMD037B encountered visually favourable alteration/mineralization from 29 to 111 metres, 150 to 202 metres, 209 to 224 metres, and 230 to 275 metres where the hole remains in progress.
EMD038 was drilled with a due south azimuth and 55 degree dip to test for the down-faulted mineralized block intersected in EMD032 and partially intersected in EMD036. The hole was stopped at 174.3 metres due to drilling difficulties and the appearance of quartz diorite porphyry from 151.8 to the end of hole. The presence of intrusive rock, combined with elevated faulting in this area, resulted in EMD038 being less intensively silica altered than typical of the Miwah Main Zone. It is interpreted that this diorite and faulting is local and that the more intensely altered gold-bearing horizon exists along strike in all directions. Assays are pending for silica-alunite altered horizons in the upper parts of the hole.
EMD039 has just commenced with a 274 degree azimuth and 50 degree dip to test for continuity between EMD008 (2.11 g/t gold over 100 metres, including 4.81 g/t gold over 30 metres) and EMD014 (1.38 g/t gold over 101 metres, including 1.95 g/t gold over 58 metres).
EXD001 is the first hole for the third diamond drill rig that was recently brought into the Miwah property to test farther reaching exploratory targets. EXD001 has just commenced with a 90 degree azimuth and 47 degree dip to test for gold mineralization to west of the Miwah Main Zone, in the recently discovered Signal area (Refer to drill location map at www.EAminerals.com).
East Asia has drill validated the 1.2 kilometre east-west outcropping width of the shallow, laterally extensive Miwah Main Zone, and has encountered significant gold mineralization in all holes analyzed to date. 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. Drilling has extended the Miwah Main Zone towards a similar northing as Moon River. Sampling west of the Miwah Main Zone in the Signal area has potentially expanded the east-west width another 600 metres and remains open.
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 from the ongoing drill program which is based on increased geological understanding. An example is the intersection of 3.96 g/t gold over 111 metres, including 15.74 g/t gold over 22 metres from East Asia's diamond drill hole EMD024.
Based on the Company's work Miwah is resolving into two components; a large 1,200 metre long, at least 450 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).
Conforming to the New Indonesia Mining Law, the Miwah tenements were formally converted to an Ijin Usaha Pertambangan (IUP "Mining Licence") December 2009, providing security of long term tenure, automatic conversion from exploration to development licence, and fiscal stability. A large portion of the tenements are currently within Hutan Lindung, the lowest category of Protection Forest. The Company is fully permitted to conduct its exploration activities, and as the project advances through various stages appropriate permits will be applied for.
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 (EAS-TSXV) 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 75,503,372 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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts 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]
Nick Kohlmann, Corporate Communications Toronto T: +1-416-792-8734 E: [email protected] |
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| | You can view the Next News Releases item: Tue Aug 3, 2010, East Asia Minerals Intercepts Favourable Alteration and Mineralization at Lower Tengkereng Gold-Copper Porphyry Project; Ends in Mineralization
You can view the Previous News Releases item: Thu Jul 15, 2010, East Asia Minerals Continues to Drill Gold at Miwah; Encounters 3.07 g/t Gold Over 29 Metres Within 71.3 Metres Grading 1.95 g/t Gold
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