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| | October 18, 2010
East Asia Drills 245 Vertical Metres of Gold Mineralization With EMD044; and Extends Miwah Main Zone to the East With EXD004
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| | For Immediate Release, October 18, 2010 TSXV: EAS
VANCOUVER, B.C. -- Monday, October 18, 2010 -- East Asia Minerals Corporation (TSXV-EAS) announces the intersection of 0.48 g/t gold over 244.7 vertical metres in EMD044, including 0.89 g/t gold over 116.5 metres at the Miwah Gold Project in Aceh Province, Northern Sumatra, Indonesia. In addition, exploration drill hole EXD004 has extended the Miwah Main Zone to the new East Block M discovery area. Drilling is presently infilling the Miwah Main Zone to Moon River area, and exploring further east in the East Block M discovery area.
EMD044 is a vertical drill hole designed to test for depth extension from mineralization encountered by EMD033 (1.34 g/t gold over 323.1 metres, including 1.51 g/t gold over 270.5 metres). The hole was completed at 352.2 metres and encountered 0.48 gpt gold from 107.5 to 352.2 metres (244.7 metres). This vertical intersection included 0.89 g/t gold from 107.5 to 224 metres (116.5 metres) with 1.27 g/t gold from 114.5 to 157.5 metres (43 metres), and 0.11 g/t gold from 224 to 352.2 metres (128.2 metres) where it finished in favourable alteration/mineralization. The alteration/mineralization is open to the west and north, and is interpreted to be contiguous to gold-rich holes drilled in all other directions.
EMD045 was drilled with a due west azimuth and 50 degree dip to test the distribution of alteration/mineralization west of EMD041 towards EMD033/37/37B. The hole was completed at 219.2 metres and encountered 0.39 g/t gold from 79.5 to 107.5 metres (28 metres), and 0.97 g/t gold from 147 to 204 metres (57 metres) including 1.67 g/t gold from 156 to 174 metres (18 metres). The alteration/mineralization is open to the east, north and at depth, and is interpreted to be contiguous to gold-rich holes drilled in all other directions.
EMD046 was drilled with a 22 degree azimuth and 55 degree dip to test for continuity of mineralization northeast from EMD041/045, towards Moon River. The hole was completed at 220 metres and encountered favourable alteration/mineralization from 97.7 to 220 metres. Assays are pending.
EMD047 has just commenced with a 30 degree azimuth and 55 degree dip to test for continuity of mineralization northeast from EMD044 towards Moon River.
EMD048 has just commenced with a 90 degree azimuth and 55 degree dip to test for continuity of mineralization due east from EMD045.
EXD004 was drilled with an 80 degree azimuth and 65 degree dip to test the extension of alteration/mineralization to the southeast of Moon River and northeast of Block M where recent channel sampling encountered 2.22 g/t gold over 27.5 metres in the East Block M area. The target is located 220 metres northeast of drill hole EMD016, the furthest east that East Asia Minerals has drilled the Miwah Main Zone. The hole was completed at 213 metres and encountered favourable alteration/mineralization from 60.3 to 165.7 metres, and 203.8 to 211.7 metres. Assays are pending.
EXD005 is commencing with a 75 degree azimuth and 50 degree dip to test the extension of alteration/mineralization to the southeast of EXD004 where recent channel sampling encountered 1.23 g/t gold over 12 metres, including 3.04 g/t gold over 3 metres in the East Block M area. The target is located 400 metres east of drill hole EMD016 (Refer to drill location and East Block M sample location maps map at www.EAminerals.com).
East Asia has diamond drill validated the 1.2 kilometre east-west outcropping width of the shallow, laterally extensive Miwah Main Zone, and has encountered significant gold mineralization in more than 95% of all holes analyzed to date. The Miwah Main Zone remains open in all directions with the Moon River area expanding the north-south potential to more than 600 metres, whilst remaining open further to the north towards Sipopok. Drilling has extended the Miwah Main Zone towards a similar northing as Moon River. Sampling west of the Miwah Main Zone in the Signal area has potentially expanded the east-west width another 600 metres and remains open. Recent sampling east of the Miwah Main Zone in the East Block M area has potentially expanded the east-west width another 400 metres and remains open.
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 from the ongoing drill program which is based on increased geological understanding. An example is the intersection of 3.96 g/t gold over 111 metres, including 15.74 g/t gold over 22 metres from East Asia's diamond drill hole EMD024.
Based on the Company's work Miwah is resolving into two components; a large 1,200 metre long, at least 450 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 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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| | You can view the Next News Releases item: Thu Oct 21, 2010, East Asia Extends Miwah Main Zone 200 Metres to East Block M With 165.7 Metres of Gold Mineralization; and Commences Drilling Extension to High-Grade EMD024
You can view the Previous News Releases item: Thu Sep 23, 2010, East Asia Minerals Advances Miwah's Block M Towards Moon River With 149.7 Metres of 1.05 g/t Gold
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