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| | February 17, 2010
East Asia Minerals Drills 9.29 g/t Gold Over 21 Metres Within 81 Metres Grading 4.08 g/t Gold; Miwah Main Zone Extended Further to the North
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| | For Immediate Release, February 17, 2010 TSXV: EAS
VANCOUVER, B.C. -- Wednesday, February 17, 2010 -- East Asia Minerals Corporation (TSXV-EAS) reports that strong gold mineralization continues to be encountered at the Miwah Main Zone in Aceh Province, Northern Sumatra, Indonesia. In the western area EMD017, partials for EMD018, and EMD019 respectively encountered 1.36 g/t gold over 20.5 metres, including 1.67 g/t gold over 15.5 metres; 3.29 g/t gold over 47 metres (partials -- hole continues in mineralization with assays pending); and 4.08 g/t gold over 81 metres, including 9.29 g/t gold over 21 metres. This drilling has extended the gold zone further to the north where it remains open. East Asia has validated the 1.2 kilometre east-west width of the shallow, laterally extensive Main Miwah Gold Zone, and has encountered gold mineralization in all of its holes. The Main Miwah Gold Zone remains open in all directions with the Moon River area expanding the north-south potential from 400 metres to more than 600 metres, whilst remaining open further to the north.
EMD017 was drilled with a 115 degree azimuth and 55 degree dip, from a location 150 metres north of EMD001/002/003 where 1.71 g/t gold over 158.0 metres, including 3.29 g/t gold over 66.0 metres; and 2.25 g/t gold over 142.9 metres, including 4.31 g/t gold over 51.0 metres were encountered to the southwest by the Phase One drill campaign. This hole was designed to test silicification and mineralization northeast from the Miwah Bluff portion of the Main Zone. Gold mineralization was encountered to 72.0 metres downhole depth where it is locally cut off to the east by the Rusa Fault Zone; the same fault zone that cut off gold mineralization in EMD001. The hole continued in the Rusa Fault Zone to the end of hole. Gold grading 1.36 g/t was encountered from 51.5 to 72.0 metres downhole depth, including 1.67 g/t gold from 51.5 to 67.0 metres. The mineralization is interpreted to continue further east of the Rusa fault towards EMD014, and to remain open at depth and in all other directions.
EMD018 is in progress at 244 metres with a due north azimuth and 30 degree dip to test the area north of EMD001/002/003. Strong visually altered and mineralized rock was encountered from 39 to 158.55 metres, 213.4 to 221.5 metres, and from 238.95 to the current depth of 244 metres where the hole is in progress. EMD018 will be drilled to at least 300 metres. Assays have been received for the upper part of the hole (ending in strong gold mineralization) and grade 3.29 g/t from 39 to 86 metres downhole depth. The mineralization is open in all directions and at depth, and is interpreted to be contiguous to the southwest towards EMD003, which encountered 2.25 g/t gold over 142.9 metres including 4.31 g/t gold over 51.0 metres, to the northeast towards EMD017, and north past EMD019. Assays remain pending from 86 metres.
EMD019 was drilled with a due south azimuth and 50 degree dip to test the area north of EMD001/002/003/018. Gold grading 4.08 g/t was encountered from 82 to 163 metres downhole depth, including 9.29 g/t gold from 90 to 111 metres. The mineralization is open in all directions and at depth, and is interpreted to be contiguous to the southwest towards EMD003, to the northeast towards EMD017, and south past EMD018.
"We consider the results from holes EMD017/018/019 to be very encouraging", stated Michael Hawkins, President and CEO of East Asia Minerals Corporation. "Together with the earlier announcement of strong gold results from drill hole EMD014, these new results are significantly north of the previously outlined gold mineralization and confirm our interpretation that Miwah extends much further northwards than previously thought."
EMD020 has been completed at 200 metres depth. It was drilled with a 205 degree azimuth and 50 degree dip to test the area to the west of EMD019. The targeted strong vuggy silica alteration was encountered from 77.4 to 185.55 metres downhole, suggesting that the vuggy silica alteration may be thickening to the west. Assays are pending.
EMD021 is in progress with a 250 degree azimuth and 50 degree dip in visually altered and mineralized rock to test the vuggy silica alteration to the northwest of EMD020. (Refer to drill location map 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 71,394,872 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.
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]
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: Tue Mar 2, 2010, East Asia Drills 3.28 g/t Gold Over 61 Metres Within 116 Metres Grading 2.18 g/t Gold; Zone Opened Further North and to Underlying Stratiform Alteration
You can view the Previous News Releases item: Tue Feb 9, 2010, East Asia Drills 1.16 g/t Gold Over 21 Metres Within 109 Metres Grading 0.59 g/t Gold at Miwah; 1.2 Kilometre East-West Width Validated
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