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| | December 15, 2009
East Asia Minerals: Moon River Significantly Expands Potential Size of Miwah
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| | For Immediate Release, December 15, 2009 TSXV: EAS
VANCOUVER, B.C. -- Tuesday, December 15, 2009 -- East Asia Minerals Corporation (TSXV-EAS) is pleased to report that as part of its continuing exploration of the Miwah Gold Zones it has identified new gold mineralized samples from the Moon River area, more than 300 metres north of EMD008/011 (EMD008 encountered 2.11 g/t gold over 100 metres, including 4.81 g/t gold over 30 metres). The Moon River area expands the width potential of the Miwah Main Zone from 300 metres to more than 600 metres, and it remains open to the north.
Work at the Moon River area has discovered new and important gold mineralization based on increased geological understanding. The Company predicted that if it extended further to the north than previously thought, the gently north dipping Miwah Main Zone would re-outcrop in the Moon River area. Rock sawn channel samples in this area have returned significant gold values (up to 1.78 g/t gold) over significant widths. Combined with the similarity of host rock and alteration to the Main Miwah Gold Zone, it is believed that the Moon River area represents potential to greatly expand the northern continuity of the gold mineralization.
"The discovery of alteration and gold mineralization at Moon River has taken on further significance when it is viewed in context with re-processed geophysical data", explained Michael Hawkins, President and CEO of East Asia Minerals Corporation. "The Moon River alteration and mineralization is part of a package of altered and mineralized rock that has distinctive chargeability, resistivity and magnetic signatures. This we note extends all the way from the Miwah Main Zone to Sipopok, approximately 1.5 kilometres to the north, and although we are in the early stages of the exploration of the extensions of Miwah Main Zone, we are greatly encouraged by the way all the pieces are fitting together."
With a second rig on its way to Miwah, East Asia Minerals Corporation is already contemplating the addition of a third rig, so that the potential extensions of the Miwah Gold Zone at Moon River and Sipopok can be tested early in 2010.
(Refer to geophysical maps on Company's website at www.EAminerals.com).
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 properly oriented drill holes.
Based on the Company's work Miwah is resolving into two components; a large 1,200 metre long, at least 300 to 400 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).
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 67,176,622 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 Jan 11, 2010, East Asia Minerals Drills 1.64 g/t Gold Over 70.2 Metres Within 132.9 Metres Grading 1.01 g/t Gold at Miwah; Second Drill Rig Arrives
You can view the Previous News Releases item: Mon Dec 14, 2009, East Asia Minerals Drills 1.95 g/t Gold Over 58 Metres Within 101 Metres Grading 1.38 g/t Gold in Significant Step Out at Miwah
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