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| | November 03, 2009
East Asia Completes Planning for NI43-101 Resource Drilling at Miwah
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| | For Immediate release, November 3, 2009 TSXV: EAS
VANCOUVER, B.C. -- Tuesday, November 3, 2009 -- East Asia Minerals Corporation (TSXV-EAS) is pleased to announce that planning has been completed for Phase 2 diamond drilling of the Main Miwah Gold Zone. The Phase 2 program will begin immediately upon the completion of hole EMD013, the end of the Phase 1 program. Based on the strong and consistent gold mineralization encountered to date, the Phase 2 program is designed to provide drill results required to complete a NI43-101 compliant resource estimate. A second rig is planned to arrive at Miwah prior to end-year with the intention to complete the NI43-101 resource estimate drilling by mid-year 2010. The Company is well funded to undertake much of the planned drilling.
To date more than 700 metres of strike length have been drilled and assay validated by East Asia Minerals along the shallow, laterally extensive 1.2 kilometre long Main Miwah Gold Zone. In addition the drill rig has been stepped out a further 140 metres to the east where EMD012 has been completed after drilling a wide intercept of visually altered and mineralized rock. EMD013 is currently progressing in similar visually altered and mineralized rock (Refer to map on Company's website at www.EAminerals.com). The Miwah project demonstrates a robust gold system that continues to grow rapidly and that has provided a 100 percent hit rate of strong gold values. Drilling in the Main Miwah Gold Zone has also demonstrated a laterally extensive, higher grade near-horizontal layer, grading 2 to 5 g/t gold in the upper levels of the mineralized system.
Detailed mapping and sampling are continuing at the new South Miwah Bluff gold discovery, and planning is underway for a grid-based soil sampling program in conjunction with ongoing rock sawn channel sampling of outcrop. The results will be used to generate targets for follow-up diamond drilling. Recent electron microprobe studies of gold-bearing samples from the new discovery area display a high percentage of free gold. Secondary and back-scattered electron images clearly show that the free gold infills cavities and fractures. Together with preliminary metallurgical test work undertaken by a previous explorer for the Main Miwah Gold Zone, which indicated gold recoveries of 74% to 84% from cyanidation testing of mixed oxide sulphide samples, and greater than 90% recovery for oxide, the recognition of significant amounts of free gold in samples is pointing to favourable metallurgical properties at the project. Formal metallurgical testing will be conducted as the Miwah project is advanced.
Miwah Background
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. 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).
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 eleven 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 66,584,122 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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| | You can view the Next News Releases item: Fri Nov 13, 2009, East Asia Minerals Intersects 183.5 Metres Grading 1.28 g/t Gold, Including 2.11 g/t Gold Over 77.7 Metres in 165 Metre Step Out at Miwah
You can view the Previous News Releases item: Mon Oct 19, 2009, East Asia Minerals Intersects 1.05 g/t Gold Over 107.3 Metres Ending in Mineralization at Miwah
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