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| | November 11, 2008
East Asia Minerals Intersects 14 metres of 6.31 g/t gold and Further Expands Abong Gold System
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| | For Immediate release, November 11, 2008 TSXV: EAS
VANCOUVER, B.C. -- Tuesday, November 11, 2008 -- East Asia Minerals Corporation (TSXV-EAS) is pleased to report recent drill results, including 14.0 metres of 6.31 g/t gold in ABD-91, from its Abong Gold Project located in Aceh Province, Indonesia. This recent drilling confirms the presence of another high-grade gold zone within the extensive flat lying and near surface Abong mineralized system which remains open in both strike directions.
The 2008 Abong drill program is completed with the drilling of over 10,000 metres in 128 holes. This work will provide sufficient data to calculate a preliminary resource estimate during the first half of 2009. The mineralization is still open along strike and potential is high for the discovery of significant new gold zones within extensions of the Abong structural trend.
"There is open mineralization and numerous additional drill targets remaining at Abong and we believe the mineralized system will grow significantly", stated Michael Hawkins, President and CEO of EAS. "We feel it prudent however during the current market turmoil to temporarily halt the Abong drilling pending compilation of the preliminary resource. EAS remains well funded and has sufficient funds in its treasury to continue drilling over the next couple of years at Abong and its other highly prospective gold-copper projects, with the aim of significantly increasing its mineral inventories. EAS is confident in the strength of its outstanding portfolio of properties in Indonesia, as well as in its ability to ride out the current market turmoil."
Abong Drill Update
The Abong system, as defined to date, is contained within a major northwest trending corridor up to 800 metres wide and currently traceable for over 2.0 kilometres. Gold mineralization drilled to date at Abong occurs within a flat lying, near surface jasperoid sheet. This expansive blanket contains a series of elongated, northeast oriented higher grade (4 to 6 g/t) gold zones that are surrounded by extensive areas of 0.5 to 1.5 g/t gold mineralization.
Recent infill and step-out drilling in the centrally located Bulan Gold Zone confirmed the presence of another high-grade, northeast trending gold zone with hole ABD-91intercepting 14.0 metres of 6.31 g/t gold in the vicinity of the sink hole area (view map at www.EAminerals.com).
Scout drilling at the newly discovered Kapar gold target, located 1.3 kilometres east of Bulan within the same structural and geological setting, has returned anomalous gold values. The three holes competed were drilled parallel and peripheral to the gold mineralized structure where previous channel sampling returned 16 metres at 1.67 g/t gold from a creek exposure. Further drilling will more fully test this newly discovered area.
Bintang is another gold zone within the Abong structural corridor, located 400 metres north of the Main Bulan Gold Zone. Previous EAS drilling including 12.0 metres of 2.24 g/t gold, 11.0 metres of 1.77 g/t gold, 12.0 metres of 1.56 g/t gold and 12.0 metres of 1.72 g/t gold (holes ABD-07 to 10). Mineralization remains open in all directions and will be further tested in future drill programs.
Hole Number From (m) To (m) Interval (m) Gold (g/t) Silver (g/t) Comment
ABD-80 29.00 36.00 7.00 0.30 1.23 Kapar gold target
And 42.00 46.00 4.00 0.41 1.33 Kapar gold target
ABD-81 56.00 65.00 9.00 0.35 1.07 Kapar gold target
ABD-86 63.00 67.00 4.00 1.71 13.88 Bulan South Zone
ABD-87 68.00 70.00 2.00 1.72 19.00 Bulan South Zone
ABD-89 68.00 73.00 5.00 0.50 3.26 Bulan Main Zone
ABD-90 10.00 22.00 12.00 0.91 5.13 Bulan Main Zone
ABD-91 4.00 18.00 14.00 6.31 7.78 Bulan Main Zone
Including 7.00 14.00 7.00 11.60 11.54 Bulan Main Zone
ABD-92 62.00 65.00 3.00 0.50 5.90 Bulan North Zone
And 70.00 73.00 3.00 1.60 3.43 Bulan North Zone
ABD-93 36.00 57.00 21.00 0.75 18.48 Bulan North Zone
ABD-94 21.00 28.00 7.00 0.81 4.46 Bulan North Zone
ABD-95 0.00 23.00 23.00 1.05 3.98 Bulan Main Zone
Including 0.00 7.00 7.00 2.03 13.43 Bulan Main Zone
Samples reported were assayed at Intertek 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.
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 ten uranium properties, including the advanced Ingiin-Nars, Ulaan Nuur and Enger uranium projects, 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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| | You can view the Next News Releases item: Mon Dec 1, 2008, East Asia Minerals Intercepts 646 metres of Gold and Copper in Tengkereng Porphyry System
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