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| | September 15, 2010
East Asia Intercepts 0.5 g/t Gold, 0.22% Copper Over 128 Metres, Within 499.7 Metres Grading 0.26 g/t Gold, 0.11% Copper in Second Hole at Lower Tengkereng Project
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| | For Immediate Release, September 15, 2010 TSXV: EAS
VANCOUVER, B.C. -- Wednesday, September 15, 2010 -- East Asia Minerals Corporation (TSXV-EAS) announces that its second diamond drill hole at the Lower Tengkereng project further confirms the presence of a significant gold-copper porphyry system within the Company's highly prospective Barisan porphyry belt, Aceh Province, Indonesia. LTD002A encountered 0.26 g/t gold, 0.11% copper over 499.7 metres, including 0.5 g/t gold, 0.22% copper over 128 metres. The hole was stopped in mineralization at 499.7 metres due to drill rig limitations. A third drill hole at Lower Tengkereng will follow.
As a grade comparison the Company notes that the Batu Hijau deposit in Indonesia contains 914 million tons of ore at an average grade of 0.40 g/t gold (366 tons gold) and 0.53% copper (4.8. million tons copper). In addition to similar gold grades as Batua Hijau, the Company also notes analogies to the Chilean Maricunga Belt where some of the best documented porphyry gold and gold-copper systems occur. Gold grades can be exceptional as in the case of Lobo -- Marte in the north of the Maricunga Belt, ranging to very good in the south at Caspiche (indicated resource of 785MT at 0.57g/t gold, 0.20% copper, and inferred resource of 685MT at 0.45g/t gold, 0.25% copper) where there are similar grades as at Lower and Upper Tengkereng. Of note is that this is a mineralized belt and there is a suggestion that the increase in gold grade has a vector, in the case of Maricunga, to the north. This could also be the case for East Asia Minerals' Barisan Belt where there are gold-rich epithermals to the northwest such as at Abong.
"Drilling to date at the Tengkereng project suggests that we are largely on the periphery of a porphyry gold-copper deposit, although we are encountering higher grades outside the effects of the advanced argillic overprint," commented Michael Hawkins, President and CEO of East Asia Minerals. "Our results correlate well with the historic numbers and this indicates to us that the historic lab was functioning well during this particular period of analyses, adding to the relevance of this older data. The main alteration style we intersected is silica -- illite/sericite -- pyrite with moderate to good (5-7%) porphyry style sugary quartz veining, with the appearance of trace amounts of chalcopyrite and lesser bornite within the quartz veins. Remnant zones of silica - magnetite / specularite -- chlorite -- sericite -- pyrite with 1% chalcopyrite and trace bornite in veins suggests that we are within the retrograde phyllic alteration halo to original potassic zones with an upper zone of supergene advanced argillic (silica -- alunite -- clay)."
LTD002A, completed at 499.7 metres, was drilled with a 125 degree azimuth and 60 degree dip to test east from drill hole LTD001 in which East Asia Minerals encountered 0.39 g/t gold, 0.18% copper over 415.1 metres, including 0.49 g/t gold, 0.22% copper over 279.4 metres. LTD001 was stopped at 415.1 metres due to poor drilling conditions. The LTD002A target included a ground magnetic high to the east of LTD001, as well as favourable surface geology, geochemistry and drill results from historic drilling.
LTD002A encountered andesite cover rock to 47.7 metres, followed by diorite porphyry to the end of hole. With depth the porphyry alteration generally grades from advanced argillic, to quartz-sericite--illite--pyrite, to phyllic and quartz-sericite-illite-pyrite, and finally to propylitic with structurally controlled phyllic overprint. Quartz veining increases from 2% to 10% with depth to 427 metres, beneath which it averages 1 to 2%. From 75.8 to 189.3 metres, mineralization generally comprises 0.2% chalcopyrite, 0.2% chalcocite and 5 to 10% pyrite; and increases to 0.5% chalcopyrite, trace chalcocite-covellite and 10% pyrite from 189.3 to 427 metres. From 427 metres to the end of hole, mineralization comprises 5% pyrite, 0.2% chalcopyrite and 1% magnetite.
Hole Number From (m) To (m) Interval (m) Gold (g/t) Copper (%)
LTD-002A 0.00 499.7 499.7 0.26 0.11
Including 134.0 262.0 128.0 0.50 0.22
And 176.0 262.0 86.0 0.56 0.23
LTD003 is planned with a 35 degree azimuth and 70 degree dip, and will be drilled from a lower elevation that will in effect provide an additional 100 plus meters of depth penetration beneath LTD001/002A. Based on current data, the gold-copper grade vectors appear to improve beneath LTD001/002A. This hole will commence the week of September 20 following the Lebaran (Idul Fitri) holiday season. (Refer to drill location map at www.EAminerals.com).
The Company also refers the reader to the news release of December 1, 2008, for the announcement of initial drilling at the Upper Tengkereng project, drilled approximately 1.5 kilometres away from Lower Tengkereng. At that time Upper Tengkereng was drilled due to ease of access and encountered 646.25 metres averaging 0.39 g/t gold and 0.21% copper, including a significant intersection of 268 metres of 0.57 g/t gold and 0.26% copper. Significant near surface gold mineralization was also intercepted, including 14 to 82 metres (68 metres) of 0.51 g/t gold and 0.21% copper.
The Upper and Lower Tengkereng targets occur as two large outcrop areas of similar porphyry gold-copper mineralization. The Company believes Upper and Lower Tengkereng are possibly contiguous, and part of one large system linked at depth, with the intervening area covered by shallow inter-bedded sedimentary and volcanic rocks.
Barisan Porphyry Geological Setting
East Asia Minerals' Barisan tenements encompass a cluster of six known porphyry centres within a 6.2 kilometre by 3 kilometre block (view map at www.EAminerals.com). Geological features observed in drill core from Lower and Upper Tengkereng confirm that this system shares many features of the world's best gold-rich porphyry copper deposits in the circum-Pacific rim. They include:
a) the association of gold-copper mineralization with composite porphyry stocks emplaced into coeval andesitic volcanic rocks at shallow levels;
b) association of K-silicate alteration at depth which has undergone partial overprinting with advanced argillic and intermediate argillic assemblages;
c) strong positive correlation between quartz vein density and gold and copper distribution mainly represented by disseminated chalcopyrite and bornite;
d) hydrothermal magnetite associated with quartz veining is common at depth but appears to have been destroyed at higher elevations by later-stage overprinting hydrothermal alteration;
e) the mineralized system is telescoped in which later stage vuggy, banded epithermal quartz veins overprint early porphyry-style veins.
Photogeological interpretation of stereoscopic ASTER and PULSAR satellite images of this region has identified additional porphyry targets, demonstrating the high prospectivity of this mineralized belt. These targets and the other known porphyry centers will be systematically explored.
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 reserve/resource references and is not treating them as NI 43-101 defined reserves/resources verified by a QP. Although the reference of reserves/resources is relevant to recognizing the potential of the Tengkereng project, it 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 75,655,872 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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