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| | June 15, 2010
East Asia Extends Miwah Further West With 2.19 g/t Gold Over 43 Metres and 1.62 g/t Gold Over 37.6 Metres, and Remains Open
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| | For Immediate Release, June 15, 2010 TSXV: EAS
VANCOUVER, B.C. -- Tuesday, June 15, 2010 -- East Asia Minerals Corporation (TSXV-EAS) announces that drilling has extended gold mineralization further to the west at the Miwah Gold Project in Aceh Province, Northern Sumatra, Indonesia, confirming the open western potential. EMD031 encountered 2.19 g/t gold over 43 metres, including 4.10 g/t gold over 15 metres; and EMD032 encountered 1.62 g/t gold over 37.6 metres, including 2.58 g/t gold over 20 metres. These holes continue to extend the Miwah Main Zone west from previous drilling where the Company encountered 2.18 g/t gold over 116 metres, including 3.28 g/t gold over 61 metres (EMD018); 4.08 g/t gold over 81 metres, including 9.29 g/t gold over 21 metres (EMD019); and 1.73 g/t gold over 85.5 metres, including 2.08 g/t gold over 49 metres (EMD028).
EMD031 was drilled with a due south azimuth and 30 degree dip from the EMD028 location to further test the west extension of the gold-rich Miwah Main Zone. The hole was completed at 200 metres downhole depth and encountered 2.19 g/t gold from 59 to 102 metres, including 4.10 g/t gold from 60 to 75 metres. From 124.4 metres to the end of hole, drilling encountered fault breccia with strong to intense fracturing and argillic alteration. The mineralization is open to the west and at depth, and is interpreted to be contiguous to gold-rich holes drilled in all other directions.
EMD032 was drilled with a due west azimuth and 55 degree dip to test west of the Miwah Main Zone from EMD028. The hole was completed at 200 metres downhole depth and encountered 1.62 g/t gold from 108 to 145.6 metres, including 2.58 g/t gold from 119 to 139 metres. EMD032 has significantly opened the western extension of the Miwah gold mineralization beyond all previous EAS and historic drilling. The mineralization is open to the north, south and west, and at depth, and is interpreted to be contiguous to EMD028 which encountered 1.73 g/t gold over 85.5 metres, including 2.08 g/t gold over 49 metres
"Our recent drill results continue to deliver as we explore the Miwah gold system." stated Michael Hawkins, President and CEO of East Asia Minerals. "The consistency and size of the mineralized footprint supports our interpretation that Miwah has great potential to develop into one of this cycle's more important gold discoveries. We have had some pleasant surprises along the way, and those have added to our understanding and success as we unravel the genesis of Miwah. We note that the larger of the world's high sulphidation deposits are geologically diverse systems. The geological diversity and large footprint at Miwah demonstrate the significance of the Miwah discovery, as does the 100 percent gold hit rate that amply displays how robust the mineralizing event was."
EMD033 is progressing well and is testing northeast from EMD014/026 using a 030 degree azimuth and 55 degree dip; the target is extension of alteration and mineralization to the northeast of the Block M portion of the Miwah Main Zone, and southwest of Moon River. The hole entered visually favourable alteration/mineralization at 63 metres downhole depth and continued in this zone to the most recent reported depth of 230 metres.
EMD034 was drilled with a due east azimuth and 47 degree dip to test further west of the Miwah Main Zone from EMD032. The hole was completed at 200 metres downhole depth and encountered three discrete zones of visually favourable altered/mineralized sections between 106 and 193 metres downhole depth. Assays are pending.
EMD035 has just commenced and is using a due east azimuth and 47 degree dip to further validate the Miwah Bluff portion of the Miwah Main Zone. (Refer to drill location map at www.EAminerals.com).
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.
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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| | You can view the Next News Releases item: Wed Jul 7, 2010, East Asia Minerals Expands Miwah Main Zone With Partial Assays of 1.68 g/t Gold Over 230.5 Metres; Remaining Contiguous Assay Interval Expected Soon
You can view the Previous News Releases item: Mon Jun 7, 2010, East Asia Minerals Advances the Miwah Main Zone North; Encounters 2.01 g/t Gold Over 44 Metres Within 103.5 Metres Grading 1.07 g/t Gold
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