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| | September 12, 2006
East Asia Minerals Reinforces its Gold and Copper-Gold Project Focus; Drills New Khok Adar Copper Oxide Discovery
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| | VANCOUVER, B.C. -- September 12, 2006 -- East Asia Minerals Corporation (TSXV-EAS) reports that senior management recently completed an on-site evaluation of its Mongolian exploration projects and has reinforced the current exploration efforts in keeping with its core "advanced gold and copper-gold projects" strategy. To this end, the Company is progressing with securing four promising projects in Indonesia (as reported in May 2006) and continues drilling at its advanced copper oxide Khok Adar project on the recently identified Baruun Bayan discovery. The 2006 exploration work to date has produced positive results at the Khok Adar copper and Enger uranium projects.
In Indonesia the four MOUs announced May 31, 2006 have passed geological due diligence and meet the multi-million ounce potential criteria. The projects encompass multi-jurisdictional land positions that require a variety of title applications and numerous approvals from Local, Provincial and Central Government levels. Significant progress has been made and once in place, title and permitting will be fully secure under a globally accepted mineral exploration and development system. The Company is also investigating other advanced acquisition opportunities in Indonesia.
"We are positioning EAS for the expected re-emergence of significant exploration investment in Indonesia where competitor activity is strong and increasing" observed Lionel Martin, East Asia's Vice President of Business Development. "EAS is also capitalizing on its flexibility, regional technical expertise and Asian network to research and negotiate gold and copper-gold opportunities in China and monitor developments in the Philippines and PNG."
In Mongolia, exploration is now exclusively focused on the Khok Adar high grade copper oxide property where drilling has been ongoing since September 2005. EAS management recently met with senior national and provincial government representatives who verified the new Mongolian windfall tax does not pertain to cathode copper production as specifically related to the Khok Adar copper oxide deposits, nor is it the intention of the Mongolian Government to seek to gain equity in the Khok Adar project. Thus the recent changes to the Mongolian Mineral law will apparently not impact this envisioned SXEW project.
Drilling was recently completed at EC2 and East Zone 1, and a reconnaissance RC drill program has commenced on the newly discovered Baruun Bayan copper oxide zone located 600 metres northwest of EC1. This was discovered during the aircore grid drill program completed in June and July. The Baruun Bayan aircore copper anomaly is over twice the size of the EC1 footprint.
Based on increasing exploration data, the potential source of the exotic copper oxide mineralization at Khok Adar is interpreted to be a supergene enriched portion of a deformed volcanogenic massive sulphide system with Besshi affinities. The primary sulphides occur as part remobilised, but strata conformable zones in a sedimentary and mafic volcanic sequence typical of a Besshi setting. Besshi-type volcanogenic massive sulphide deposits range up to 300 million tonnes in size, containing copper and zinc mineralization, with silver and gold.
Zinc-rich sulphides previously reported from EC1 (including EC1RC-33 with 2.0% Zn over 47.0 m) and East Zone 1 (including Z1ERC-001D with 3.54% Zn over 18.0 m) were recently encountered at EC2 and are indicative of the zinc-rich distal portions of a volcanogenic massive sulphide system. Increasing primary sulphide copper content in the drill holes to the west of EC-1 are tentatively interpreted as vectors towards the typically copper-rich central (proximal) part of the VMS system. Additionally, other field evidence indicates that the secondary enrichment zone which generated the exotic copper at EC-1 and the new Baruun Bayan zone is potentially located within a few hundred metres and directly upslope from the exotic deposits, in an area covered by very shallow transported scree. The secondary enrichment zone constitutes a new exploration target for SXEW extractable copper at Khok Adar.
New drill results are highlighted in the following table:
Hole No. From (m) To (m) Interval Cu (%) Ag (g/t) Zn (%)
EC2RC006D 4.0 23.0 19.0 14.00 0.55
28.0 30.0 2.0 28.00 1.25
113.5 167.0 53.5 0.91
EC2RC008D 32.0 40.0 8.0 0.57 13.10
54.7 56.7 2.0 3.96 10.0
80.7 90.7 10.0 1.56
Z1ERC006D 54.0 89.0 35.0 0.63
101.0 120.0 19.0 0.45 1.80
112.0 169.0 57.0 5.00 1.27
*composite sections apply 0.2% Cu and Zn cut-off
Encouraging drill results previously announced from the Enger uranium project are being assessed and reported on by an independent QP. The Mongolia uranium portfolio will be vended or optioned out to achieve maximum value to EAS shareholders.
Samples reported were assayed at SGS Mongolia in Ulaanbaatar, Mongolia. East Asia Minerals conducts a rigorous and continuous QA/QC program, which is detailed at www.EastAsiaMinerals.com. Mike Hawkins, M.Sc., MAusIMM, 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 projects in Mongolia and on-going acquisition targets in the East Asia Region. The Company has a 75% interest in the Khok Adar copper oxide discovery. It also has options to acquire 100% of six uranium properties, all located in central Mongolia, and has signed MOUs for 4 advanced gold and copper-gold projects in Indonesia. East Asia currently has 42,805,206 shares outstanding. The Company's shares are listed for trading on the TSX Venture Exchange under the symbol "EAS".
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FOR FURTHER INFORMATION, visit the Company's website at www.EastAsiaMinerals.com, or contact:
Lyndon Bradish, President and CEO T: +852 2719-1551 (Hong Kong) E: [email protected]
Nick Kohlmann, Corporate Communications T: +1-416-792-8734 (Toronto) E: [email protected]
Should you wish to receive Company news via email, please email [email protected] and specify "EAS News" in the subject line.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. |
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