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| | October 22, 2008
East Asia Minerals Expands Miwah Gold Zone and Discovers Satellite Zone
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| | For Immediate release, October 22, 2008 TSXV: EAS
VANCOUVER, B.C. -- Wednesday, October 22, 2008 -- East Asia Minerals Corporation (TSXV-EAS) continues to encounter significant gold intercepts from trench sampling at its Miwah Gold Project located in Aceh Province, North Sumatra, Indonesia. These results, including 6 metres of 6.67 g/t gold, 12 metres of 2.14 g/t gold, 12 metres of 3.16 g/t gold and 34 metres of 1.81 g/t gold, are from the eastern half of the Miwah Bluff area and from the Block M area to the east, which have a contiguous strike length of over 1000 metres. A new zone of mineralization has also been discovered 2.2 kilometres northeast of the Miwah Gold Zone.
Miwah Trenching Update
Additional encouraging assay results have been received from channel sampling in trenches at the Miwah Gold Zone (view map at www.EAminerals.com). Rock sawn channel sampling focused on the eastern side of Miwah Bluff returned consistently strong gold mineralization, hosted specifically in vuggy silica altered breccias and volcanic rock. Selected un-cut composite trench intervals include:
• 6 metres of 6.67 g/t gold (Trench 78)
• 8 metres of 1.14 g/t gold (Trench 81)
• 12 metres of 2.14 g/t gold (Trench 86)
• 18 metres of 0.98 g/t gold (Trench 87)
The first batch of assays for chip channel sampling at Block M, located 300 metres east of Miwah Bluff, have also returned encouraging gold intervals, specifically related to vuggy to massive silica ledges. These features were sampled along the approximate base of the sub-horizontal silica cap. Large sections of the impressive, plus 150 metres high by 500 metres long, near vertical silica wall above the surveyed area remain un-sampled. Selected un-cut composite trench intervals include:
• 12 metres of 3.16 g/t gold (Trench MB7);
• 34 metres of 1.81 g/t gold (Trench MB17);
• 14 metres of 1.16 g/t gold (Trench MB19);
• 6 metres of 1.10 g/t gold (Trench MB21);
• 40 metres of 1.15 g/t gold (Trench MB42);
Discovery of New Satellite Zone
Recent reconnaissance prospecting 2.2 kilometres northeast of the Miwah Gold Zone has discovered two new areas of high sulphidation alteration and mineralization within an area measuring 1000 metres by 1000 metres, which is about the same size as the Miwah Gold Zone. Initial confirmation sampling and assaying is currently underway.
Project Background
Extensive surface channel sampling by EAS and a previous explorer shows that Miwah Gold Zone mineralization occurs within a well defined zone of high sulphidation alteration measuring 1000 metres by 1000 metres. Better gold mineralization is closely related to a well-defined body of residual vuggy silica-sulphide forming an impressive resistant, east-northeast trending cliff of massive (vuggy) silica traced for over 1000 metres along strike by over 300 metres wide and up to 200 metres high.
Miwah demonstrates many features of the shallow part of a high-level high sulphidation ("HS") epithermal gold system, including intense acid leaching, strong structural and lithological permeability controls to fracture fed mineralizing fluids, presence of structurally-controlled hydrothermal and phreatic breccias, disseminated mineralization of gold-silver much greater than copper, and the elemental association of As, Sb, Bi, Ba, S and Te.
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. The Miwah project also exhibits a likeness to the size, style and geometry of the alteration system developed at another important HS gold deposit, 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).
Miwah was partially defined with approximately 3000 metres of drilling in eleven 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 clearly parallel to higher grade (greater than 5 g/t gold) structures at surface, and hence significantly higher overall grades are anticipated from better oriented drill holes.
Integration of recent encouraging trench results and historical work, combined with ongoing detailed surface mapping and sampling will form the basis for selecting optimum drill targets which are anticipated to be drill tested in Q1 2009.
Samples reported were assayed at Intertech assay 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 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 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 drilled to define NI43-101 compliant resources. The Company owns ten uranium properties, including the advanced Ingiin-Nars, Ulaan Nuur and Enger uranium projects, 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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| | You can view the Next News Releases item: Tue Nov 11, 2008, East Asia Minerals Intersects 14 metres of 6.31 g/t gold and Further Expands Abong Gold System
You can view the Previous News Releases item: Tue Oct 14, 2008, East Asia Minerals Drills 56 Metres of 1.41 g/t Oxide Gold at Binebase, and Updates Indonesia Strategy
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