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| | May 13, 2010
East Asia Minerals Further Opens the Miwah Main Zone; Encounters 1.77 g/t Gold Over 65 Metres Within 159 Metres Grading 1.01 g/t Gold
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| | For Immediate Release, May 13, 2010 TSXV: EAS
VANCOUVER, B.C. -- Thursday, May 13, 2010 -- East Asia Minerals Corporation (TSXV-EAS) announces that drilling has further opened the Miwah Main Zone at the Miwah Gold Project in Aceh Province, Northern Sumatra, Indonesia. EMD026 encountered 1.77 g/t gold over 65 metres within 159 metres grading 1.01 g/t gold, establishing the link between the Miwah Bluff and Block M portions of the Miwah Main Zone. In addition EMD026 encountered a deeper zone of 0.31 g/t gold over 58.7 metres, finishing at the end of hole. Due to similarities in mineralization/alteration, this zone is interpreted to be a vector towards the intersection of 15.74 g/t gold over 22 metres at the end of EMD024, located 70 metres due north. EMD025 encountered several interfingered gold-bearing zones within the cross-cutting Rusa Fault Zone, extending the Miwah mineralization towards the recently discovered Signal area gold-bearing vuggy silica outcrops located up to 600 metres west of previous drilling.
East Asia has drill validated the 1.2 kilometre east-west outcropping width of the shallow, laterally extensive Miwah Main Zone, and has encountered gold mineralization in all of its holes. 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.
EMD025 was drilled with a due west azimuth and 55 degree dip to test west from EMD024, and was completed at 210 metres downhole depth. This is the furthest west the Company has drilled the open northern area of the Miwah Main Zone to date, and displays that the gold mineralization continues towards the recently discovered gold-bearing Signal area vuggy silica outcrops located several hundreds of metres further west. Gold intercepts include 1.15 g/t gold over 7 metres (86 to 93 metres), 1.26 g/t gold over 8.5 metres (123.5 to 132 metres), 1.64 g/t gold over 3.9 metres (147.5 to 151.4 metres), and 1.09 g/t gold over 9.5 metres (180 to 189.5 metres). The mineralization occurs as a structural interfingering of favourable alteration/mineralization with less permeable diorite horizons, due to the northwest trending Rusa Fault Zone. The Rusa Fault Zone cut off gold mineralization in EMD001 and 017. The gold is open to depth and in all directions, and is interpreted to continue north-easterly across the structure to where EMD024 encountered 3.96 g/t gold over 111 metres, including 15.74 g/t gold over 22 metres.
EMD026 was drilled with a 310 degree azimuth and 50 degree dip, targeting the extension of silicification northeast of Miwah Bluff. This hole has successfully established the link between the Miwah Bluff and Block M portions of the Miwah Main Zone. It is a north-westerly step out from EMD014, drilled towards EMD024, and was completed at 354.7 metres downhole depth. Gold grading 1.01 g/t was encountered from 107 to 266 metres, including 1.77 g/t gold from 170 to 235 metres, and further pushes the Miwah Main Zone to the north where it remains open. Following a 30-metre interval of weak gold mineralization from 266 to 296 metres, the hole encountered 0.31 g/t from 296 metres to the end of hole at 354.7 metres. The mineralization/alteration in the lowermost 18.2 metres is similar to that of the high-grade intersection of 15.74 g/t gold over 22 metres at the end of EMD024. It is interpreted that this lower portion of EMD026 vectors towards the high-grade EMD024 intersection which is located approximately 70 metres due north along section. EMD026 is open to depth and in all directions.
EMD027 was drilled with a due south azimuth and 55 degree dip, to confirm thickness and test for gold grade variation in the vuggy silicification between EMD023 and EMD024. The hole was completed at 200 metres downhole depth and encountered visually altered and mineralized rock from 25 to 190 metres. Assays are pending.
EMD028 was drilled with a due east azimuth and 30 degree dip to test for the extension of alteration and mineralization from EMD018/019, and was completed at 200 metres downhole depth. It is located 130 metres west from section EMD018/019 and encountered visually altered and mineralized rock from 58 to 140 metres. Assays are pending.
EMD029 is being drilled with a due south azimuth and 60 degree dip to test for the extension of alteration and mineralization from high-grade hole EMD024. It is a 210 metres north step-out from EMD024 and is progressing well, having encountered visually altered and mineralized rock from 60.9 to 69.7 metres, and from 108 to 227 metres, including 145 to 155 metres, 212.5 to 213.6 metres and 214.9 to 215.70 metres where the hole encountered similar mineralization to that hosting high-grade gold assays at surface and at the end of EMD024.
EMD030 was drilled with a 45 degree azimuth and 47 degree dip from the EMD028 location to test for the extension of silicification and mineralization to the north of EMD021. The hole was completed at 210 metres downhole depth. Commencing at 51 metres depth the hole encountered several zones of visually altered and mineralized rock to 201 metres. From 77.3 to 86.3 metres the hole encountered similar mineralization to that hosting high-grade gold assays at surface and at the end of EMD024. Assays are pending.
EMD031 is just commencing and is being drilled with a due south azimuth and 30 degree dip from the EMD028/030 location to test the extension of silicification to the west of Miwah Bluff (Refer to drill location map at www.EAminerals.com).
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 75,387,872 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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