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| | March 25, 2008
East Asia Minerals Continues to Extend Binebase-Bawone Gold Zone
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| | VANCOUVER, B.C. -- Tuesday, March 25, 2008 - East Asia Minerals Corporation (TSXV-EAS) is pleased to report that drilling in the northern extremity of the Binebase Prospect at the Sangihe Property, Indonesia, has extended the near-surface epithermal gold mineralization. Drill hole BID-17 cut 35.25 metres of oxide mineralization grading 0.68 g/t gold and 16.41 g/t silver from surface, including 4.0 metres at 4.00 g/t gold and 23.13 g/t silver. BID-18 cut 40.30 metres of oxide mineralization grading 0.64 g/t gold and 9.28 g/t silver from surface, including 8.0 metres at 1.20 g/t gold and 17.25 g/t silver, and 5.5 metres at 1.24 g/t gold and 6.66 g/t silver. The intercepts under-report the true composite grades due to 1.30 and 1.90 metres respectively of lost core being assigned zero value.
BID-17 also encountered 89.25 metres of 0.37 g/t gold and 8.29 g/t silver from surface, and 31.0 metres of 0.14 g/t gold and 1.29 g/t silver commencing at 96.0 metres. Similar mineralization occurs in BID-16 (108.00 metres of 0.36 g/t gold and 7.75 g/t silver) and may represent an economically significant gold halo to the higher grade material.
BID-17 was collared 100 metres north-northwest of BID-15, with a northwest azimuth to test the extension of significant oxide gold mineralization encountered in section BID-11/15. The hole also tested beneath an area of structurally related mineralization grading 2 to 4 g/t gold in channel samples taken from an area not previously drilled. Strong alteration was encountered, consisting of variable silica, alunite, illite, sulphide (pyrite) with quartz, sulphide stringers hosted in breccia and illite, silica +/- alunite, and sulphide overprinted by tectonic breccia. Drill hole BID-18 was collared 90 metres to the southeast along section of BID-17, with a northwest azimuth, and encountered similar alteration to BID-17. Section BID-17/18 is located at a topographically lower position than BID-11/15 and is interpreted to be the lower or footwall side of the better gold mineralized silica bodies, which may explain the lower gold assays. The results demonstrate that the Binebase mineralization extends further north than previously known.
"In addition to encountering near-surface gold in every hole at Binebase-Bawone, we are also beginning to recognize a substantial lower grade, but potentially significant halo to the high grade mineralization, as well as some discrete bonanza grade veins where we have encountered up to 20 g/t gold", stated Michael Hawkins, President and CEO of EAS. "These newly recognized types of gold mineralization are being reviewed for the potential to add significantly to the deposit model and economics. In addition, results for base metals in the Binebase area are indicating zonation that may be used to vector us towards a potential porphyry source to the epithermal mineralization."
Binebase drill assays to date (with gold equivalent)(i)
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Drill From To Interval Gold Silver Gold Equiv.
Hole (m) (m) (m) (g/t) (g/t) (g/t)(i)
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BID-11(ii) 0.00 45.00 45.00 1.28 50.51 2.18
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BID-12 4.00 46.35 42.35 1.34 107.54 3.26
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Including 8.00 33.00 25.00 2.03 159.96 4.89
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BID-13 8.00 43.95 35.95 4.03 188.28 7.39
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Including 9.00 31.00 22.00 5.74 121.64 7.91
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BID-14 0.00 96.20 96.20 1.30 48.25 2.16
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Including 3.00 45.00 42.00 2.67 86.38 4.21
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BID-15(ii) 0.00 45.00 45.00 1.52 80.03 2.95
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Including 12.35 28.50 16.15 2.12 90.16 3.73
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BID-16(ii) 0.00 29.90 29.90 2.72 6.74 2.84
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Including 5.60 20.60 15.00 4.70 1.92 4.73
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Including 10.30 16.60 6.30 8.84 1.16 8.86
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And 76.00 184.00 108.00 0.36 7.75 0.50
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Including 112.00 113.00 1.00 20.60 58.00 21.64
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BID-17(ii) 0.75 90.00 89.25 0.37 8.29 0.52
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Including 0.75 36.00 35.25 0.68 16.41 0.97
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Including 12.00 16.00 4.00 4.00 23.13 4.41
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And 96.00 127.00 31.00 0.14 1.29 0.16
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BID-18(ii) 0.00 40.30 40.30 0.64 9.28 0.81
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Including 0.00 8.00 8.00 1.20 17.25 1.51
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And 16.50 22.00 5.5 1.24 6.66 1.36
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(i) The gold equivalent uses a silver to gold ratio of 56:1 based on
precious metal market prices, and assuming total recoveries of both metals.
(ii) BID-11, BID-15, BID-16, BID-17 and BID-18 under report the composite
grades due to 3.95, 3.90, 1.85, 1.30 and 1.90 metres respectively of lost
core being assigned a zero value.
Drilling will continue to test Binebase and Bawone, which remain open along strike in both directions and may be contiguous along the intervening 1.2 kilometres of strike. Drill hole BID-19 was collared 200 metres southeast along section of BID-18 with a southeast azimuth and is the closest Binebase hole drilled to date by the Company towards the Bawone Prospect, located 1.2 kilometres along strike to the southeast (refer to the Company's website at www.EAminerals.com for a plan view of drilling). Results are pending and will assist in understanding the relationship between these two near-surface epithermal gold prospects.
Induced Polarization
At Binebase preliminary induced polarization interpretations have confirmed the correlation of resistivity highs with outcropping surface silica breccia zones. These zones have returned very encouraging gold and silver assays from the Company's drilling to date. A recently mapped area of widespread silica breccia outcrops approximately 800 meters southeast of the Binebase drill area and has returned very encouraging induced polarization responses. Historic channel sampling indicates this area is anomalous in gold and silver.
At Bawone preliminary chargeability interpretations have extended the potential gold mineralization southeast from the main drill area. In addition, the interpretations have extended the potential gold mineralization to the southeast of the Brown Sugar Prospect (East Asia drill hole BOD-06 with 16.0 metres at 2.71 g/t gold and 33.2 g/t silver from 8.0 metres depth), and in a new area 200 metres to the south.
Samples reported were assayed at PT SGS Indoassay (SGS Group) in Balikpapan. Lionel Martin, P.Geo, the designated QP within the meaning of 43-101 has reviewed and approves the content of this release.
About East Asia Minerals Corporation
East Asia Minerals is an Asian-based, Canadian mineral exploration company with uranium, gold and copper exploration properties in Mongolia and Indonesia. The Company owns the Ingiin-Nars, Ulaan Nuur and Enger uranium properties and a 75% interest in the Khok Adar copper oxide discovery in Mongolia. In Indonesia, it has a 70 to 85% interest in five advanced gold and gold-copper properties located in Aceh Province in Sumatra and North Sulawesi. 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 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.
To receive or stop receiving EAS news via email, please email [email protected] and state your preference in the subject line.
FOR FURTHER INFORMATION, visit the Company's website at www.EAminerals.com, or contact:
Michael Hawkins, President and CEO
Vancouver
T: +1-778-997-2183
E: [email protected]
or
Nick Kohlmann, Corporate Communications
Toronto
T: +1-416-792-8734
E: [email protected] |
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