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| | July 29, 2009
East Asia Minerals Encounters 3.29 g/t Gold Over 66 Metres in Wider Interval of 1.71 g/t Gold Over 158 Metres From Initial Diamond Drill Testing of Miwah
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| | For Immediate release, July 29, 2009 TSXV: EAS
VANCOUVER, B.C. -- Wednesday, July 29, 2009 -- East Asia Minerals Corporation (TSXV-EAS) reports that assays have been received for the first two diamond drill holes at its flagship Miwah Gold Project in Aceh Province, Northern Sumatra. These results support the interpretation of shallow out-flowed, laterally extensive gold mineralization controlled by multiple northerly trending higher-grade feeder structures that cut steeply through the 1.2 kilometre long (east-west) Miwah Gold Zone. Drill hole EMD001 encountered 1.97 g/t gold over 57.1 metres, including 2.78 g/t gold over 38.3 metres. EMD002 encountered 1.71 g/t gold over 158.0 metres, including 3.29 g/t gold over 66.0 metres.
EMD001 and 002 were drilled in opposite directions from a common drill pad located approximately 200 metres east of the currently mapped western end of the Main Miwah Gold Zone (Refer to map on Company's website at www.EAminerals.com). The mineralization is open.
EMD001 was drilled east with a 90 degree azimuth and 70 degree dip to 159.3 metres. Gold mineralization was encountered from 10.9 to 68 metres downhole depth where it is locally cut off to the east by a northerly trending structure. The mineralization is open and interpreted to be contiguous to surface where several rock sawn samples including 9.22 g/t gold over 14 metres were encountered; and is open to depth based on historic drill results from holes collared 25 metres to the south and 60 metres lower in elevation. In addition the mineralization remains open to the west, north and south.
EMD002 was drilled west with a 270 degree azimuth and 55 degree dip to 200 metres. Gold mineralization was encountered from 8.3 to 166.3 metres downhole depth (with 3.29 g/t gold from 9.0 to 75.0 metres) and remains open in all directions. The mineralization is interpreted to be contiguous to surface where several rock sawn samples including 2.86 g/t gold over 18 metres were encountered, and open to depth based on historic drill results as described above for EMD001.
EMD003 was drilled from the same drill pad as 001/002 with a northwest azimuth (305 degrees) and 47 degree dip to 200 metres. This hole was designed to test the northwest extension of silica alteration and gold mineralization from EMD001/002, and where up to 27 metres of 4.25g/t gold was encountered from rock sawn channel samples. Assays are pending.
EMD004 is currently in progress with a west azimuth (270 degrees) and 30 degree dip to validate a historic hole which encountered 71 metres of 1.42 g/t gold. EMD004 was collared 25 metres to the south, 65 metres to the west, and 60 metres lower in elevation from the EMD001/002/003 drill pad. In addition to validating the historic gold results, this hole will be extended further west to test the interpreted west bounding structure (Camp Fault) to the Main Miwah Gold Zone. This is the same structure that hosts 24 metres of 83.59 g/t gold in a rock sawn channel sample located 340 metres to the south in the lower elevation South Miwah Bluff Gold Zone.
"We are greatly encouraged by the width and tenor of the Miwah gold mineralization", stated Michael Hawkins, President and CEO of EAS. "The mineralization we intercepted supports the Company's earlier confidence that high-grade structural feeder controls on the Main Miwah Gold Zone will result in higher overall grades than the 1.2 g/t gold average from surface channel sampling. We have achieved 3D drill core validation of the potential for a large lateral gold deposit along the 1.2 kilometre Miwah Gold Zone. In addition, the South Miwah Bluff Gold Zone appears to represent exposure of the underlying higher-grade gold-bearing structures and displays the upside potential for continued exploration of the prospective Miwah land tenement. It is our intention to test these zones over the coming months, and with success, to progress towards drill definition of NI43-101 compliant resources".
Drilling is progressing well. The initial program will comprise 10 holes for a total of 2,000 metres to provide a 3D validation along the currently defined 1,200 metre east-west extent of the main Miwah gold-bearing silica zone, and an additional 2 scout holes to the south. This program will provide a further indication of the gold resource potential and the framework for follow-up drilling.
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 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 verifies 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. In addition to the tabular zone the Company has begun to characterize some of the 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. 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 Intertech assay laboratories in Jakarta. Drill assays for EMD001 are final assay numbers, and drill assays for EMD002 are preliminary numbers. 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 twelve 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 64,855,372 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.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
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 Aug 10, 2009, East Asia Minerals Encounters 4.31 g/t Gold Over 51 Metres In Wider Interval of 2.25 g/t Gold Over 142.9 Metres From Diamond Drilling at Miwah
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