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| | June 01, 2005
East Asia Initiates $850,000 Drill and Geophysics Programs on its Khok Adar Copper-Oxide discovery, Mongolia
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| | VANCOUVER, B.C. -- East Asia Minerals Corp. ("EAM" or the "Company") is pleased to announce it has signed a drill contract with Major Drilling to complete a Phase II 5,000 m surface diamond drill program on its Khok Adar copper oxide discovery located in Bayan Ulgii Province, Western Mongolia. This drilling will test the extent of the high grade copper mineralization reported in previous drilling and other copper targets identified by the current mapping and trenching program and geophysics. Drilling is expected to begin in early June and be completed by the end of August.
Phase 1 drill results were previously released in the May 10, 2005 news release. Hole KA-04-01, located in the western end of Zone 1, 1intersected 89.1 m of 2.08% Cu and 12.6 g/t Ag from surface -- 89.1 m (includes 10 m of 9.01% Cu and 41 gpt Ag). The first phase of drilling focused on the western extension of Zone 1 where trenching in 2004 exposed 210m of copper oxide mineralization averaging 1.43% Cu. Zone 1 (defined by previous Soviet work) extends approximately 1.7 km to the east where it appears to bifurcate into two zones offset to the southeast and extend a further 1.8 km where they remain open.
GEOSAN LLC has been contracted to undertake approximately 1300 line km of Magnetometer and 60 line km of IP surveying on Khok Adar and neighboring projects. This work is expected to commence on June 3, 2005 and will be used to assist mapping of lithology, structure and possible intrusive bodies as interpreted from the magnetic data. The IP survey will be used to map primary sulphides located beneath the oxide zones and thus help identify additional targets located under shallow quaternary cover (sands, gravel). Reconnaissance mapping and sampling is underway of the more than 10 other copper occurrences located other on EAM exploration licenses. Follow up geophysics, trenching and drilling will be undertaken on an as needed basis.
The Company has an option to acquire a 75% interest in the Khok Adar project. EAM must fund US$1,000,000 in exploration expenditures over 3 years from the anniversary date of August 15, 2004. The minimum first year expenditures of US$150,000 have been completed as part of a US$216,000 Phase 1 exploration program completed in 2004-05.
ON BEHALF OF THE BOARD
"Lyndon Bradish"
President & CEO
For further information about the Company, please contact:
Mark Patchett, Telephone: (604) 684-2183 / Facsimile: (604) 688.2180
Email: [email protected]
Website: www.eastasiaminerals.com
THE TSX VENTURE EXCHANGE HAS NEITHER APPROVED OR DISAPPROVED OF THE CONTENTS HEREIN. |
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