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| | March 02, 2009
East Asia Minerals Encounters Significant Porphyry Gold Mineralization at Lower Tengkereng
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| | For Immediate release, March 2, 2009 TSXV: EAS
VANCOUVER, B.C. -- Monday, March 2, 2009 -- East Asia Minerals Corporation (TSXV-EAS) reports that new results from recent surface channel sampling at Lower Tengkereng, including 31 metres of 0.77 g/t gold plus 0.03% copper and 116 metres of 0.33 g/t gold plus 0.04% copper, confirms the presence of gold-rich porphyry mineralization. These results are significantly better than the historical drill intercepts from the upper 90 metres of the Lower Tengkereng porphyry system. Historic drill and current surface results at Lower Tengkereng are better than results from Upper Tengkereng located 1.5 kilometres northeast of Lower Tengkereng.
Lower Tengkereng Exploration Update
Recent chip channel sampling of newly constructed drill rig access tracks and creek exposures at Lower Tengkereng has returned broad gold intervals associated with an argillic to advanced argillic altered diorite porphyry stock and quartz vein stockwork (view map at www.EAminerals.com). To date these mineralized rocks have been mapped over a distinct, 600 metre by 500 metre conical hill sharing a similar topographic expression and vegetation anomaly to Batu Hijau (900 million tonnes @ 0.4 g/t gold & 0.53% copper). Selected composite intervals are tabled below. Note that copper is typically leached in the upper oxidised zone resulting in subdued values.
Trench Number Interval (m) Gold (g/t) Copper (%)
C 15 0.33 0.02
D 31 0.77 0.03
G 116 0.33 0.04
Including 28 0.44 0.08
And 14 0.76 0.04
F 66 0.21 0.05
H 96 0.28 0.05
Including 18 0.35 0.05
And 10 0.36 0.05
And 16 0.37 0.04
Future drill testing at Lower Tengkereng, planned for later this year, has the potential to double the historic gold values based on comparison of the recent EAS drill results with historical values at Upper Tengkereng, especially in deeper parts of the porphyry system. Previously reported results for EAS core drilling at Upper Tengkereng, located 1.5 kilometres northeast of Lower Tengkereng, included 268 metres of 0.57 g/t gold and 0.26 % copper (0.92 g/t gold equivalent), representing a significant increase in grade over the historical results. This may be due to the gold grades in previous work being understated, or alternatively a vectoring in of the system toward higher gold-copper grades.
Lower Tengkereng has better historical results & surface indications than Upper Tengkereng including drill intersections: LT-07: 339 metres of 0.5g/t gold & 0.2% copper; including 20.8 metres of 0.95 g/t gold and 0.3% copper from 91 metres
LT-01: 214 metres of 0.5 g/t gold & 0.2% copper; including 20.0 metres of 0.70 g/t gold and 0.3% copper from 86 metres
Barisan Porphyry Geological Setting
East Asia Minerals' Barisan II Project encompasses a cluster of six known porphyry centers within a 6.2 kilometre by 3 kilometre block (view map at www.EAminerals.com). At the Upper and Lower Tengkereng Prospect areas, two windows of similar porphyry gold-copper mineralization, located about 1.5 kilometres apart, are exposed through shallow interbedded sedimentary and volcanic cover rocks and may be linked at depth. Recent and historical drilling suggests that gold and copper grades improve with depth.
Geological features observed in drill core from Upper Tengkereng and surface outcrops at Lower Tengkereng confirm that these systems share many features of the world's best gold-rich porphyry copper deposits in the circum-Pacific rim.
Other Ongoing Exploration Activities
Miwah: At the EAS flagship gold project, recent assay results from rock sawn channel sampling the central Block M area returned consistently strong gold mineralization averaging 4.11 g/t gold across a 200 metre long, semi-continuous channel (see January 21, 2009 news release). Mapping and rock saw sampling is progressing along the eastern section of Block M with concurrent follow up prospecting and initial sampling of newly identified regional target areas east-northeast and northwest of Sipopok. This ongoing work will form the basis for selecting optimum drill targets which are anticipated to be drill tested in Q2 2009.
Bahu: Mapping and sampling has been initiated at this porphyry gold-copper prospect located 4.5 kilometres northeast of Upper Tengkereng. Historic surface channel samples at Bahu consistently returned encouraging values, including 46 metres of 0.75 g/t gold and 268 ppm copper, and 30 metres of 0.71 g/t gold and 341 ppm copper from a 2.3 by 1.0 kilometre alteration zone. Bahu has never been drilled.
Samples reported were assayed at Intertek Laboratories in Jakarta. David Royle, B.Sc. (Hons), FAusIMM, CP, the designated QP within the meaning of 43-101, has reviewed and approves the content of this release. East Asia has not verified the classification of the reserve/resource reference and is not treating it as a NI 43-101 defined reserve/resource verified by a QP. Although the reference of reserve/resource is relevant to recognizing the potential of the Upper and Lower Tengkereng Prospect areas, it should not be relied upon.
About East Asia Minerals Corporation
East Asia Minerals is an Asian-based, Canadian mineral exploration company with gold and copper exploration properties in Indonesia, and uranium and phosphate 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 55,645,372 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.
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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