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| | December 01, 2008
East Asia Minerals Intercepts 646 metres of Gold and Copper in Tengkereng Porphyry System
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| | For Immediate release, December 1, 2008 TSXV: EAS
VANCOUVER, B.C. -- Monday, December 1, 2008 -- East Asia Minerals Corporation (TSXV-EAS) reports that results from drilling the first hole at Upper Tengkereng confirms the presence of a gold-rich porphyry system within EAS's highly prospective Barisan II Project area, in Aceh, Indonesia. The entire 646.25 metre hole was mineralised averaging 0.39 g/t gold and 0.21% copper (0.68 g/t gold equivalent*) and included a significant intersection of 268 metres of 0.57 g/t gold and 0.26% copper (0.92 g/t gold equivalent) from 318 to 586 metres. Significant near surface gold mineralisation was also intercepted, including 14 to 82 metres (68 metres) of 0.51 g/t gold and 0.21% copper (0.80 g/t gold equivalent).
"We are particularly encouraged by the results we have received from the first drill hole in our porphyry program", commented Michael Hawkins, President and CEO of East Asia Minerals Corporation. "Our results represent 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 the system toward higher gold-copper grades. Upper Tengkereng was drilled first in our porphyry program because of logistical considerations. Each of the five other known porphyry centres in our portfolio have even better historical results and surface indications than Upper Tengkereng. We are therefore very confident of being able to demonstrate that our porphyry portfolio has great potential to add significant value to EAS. We intend to drill test the other porphyries sometime during 2009".
Upper Tengkereng Drilling Update
Recent diamond core drilling by EAS at Upper Tengkereng has returned primary gold-copper intersections at depth beneath coincident gold-copper surface geochemistry and magnetic anomalies associated with porphyry style alteration. Complete results for drill hole UTD-001A are tabled below:
Hole Number From (m) To (m) Interval (m) Gold (g/t) Copper (%) Gold Equiv.(g/t)*
UTD-001A 0.00 646.25 646.25 0.39 0.21 0.68
Including 14.00 82.00 68.00 0.51 0.21 0.80
And 82.00 318.00 236.00 0.23 0.19 0.49
And 318.00 586.00 268.00 0.57 0.26 0.92
Including 354.00 402.00 48.00 0.91 0.35 1.39
And 566.00 586.00 20.00 0.83 0.39 1.36
* The gold equivalent uses a copper to gold ratio of 1:1.36 (1% copper = 1.36 gm gold); based on current metal market prices, and assuming total recoveries of both metals.
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 Upper and Lower Tengkereng Prospect areas two windows of similar porphyry gold-copper mineralisation, located about 1.5 kilometres apart, are exposed through shallow volcanic cover rocks and may be linked at depth.
The EAS gold assay results from Upper Tengkereng are much better than those reported by a previous explorer during the mid-90's, suggesting an upgrading of gold results can also be expected at Lower Tengkereng where historical intersections of 339 metres of 0.47 g/t gold and 0.20% copper were reported. The recent and historical drilling results also suggest that gold and copper grades improve with depth.
Previous work at Tengkereng was conducted by a major company and was stopped for non-technical reasons.
Geological features observed in drill core from Upper Tengkereng confirm that this system shares many features of the world's best gold-rich porphyry copper deposits in the circum-Pacific rim. They include:
a) the association of gold-copper mineralisation with composite porphyry stocks emplaced into coeval andesitic volcanic rocks at shallow levels;
b) association of K-silicate alteration at depth which has undergone partial overprinting with advanced argillic and intermediate argillic assemblages;
c) strong positive correlation between quartz vein density and gold and copper distribution mainly represented by disseminated chalcopyrite and bornite;
d) hydrothermal magnetite associated with quartz veining is common at depth but appears to have been destroyed at higher elevations by later-stage overprinting hydrothermal alteration;
e) the mineralised system is telescoped in which later stage vuggy, banded epithermal quartz veins overprint early porphyry-style veins.
A recent photogeological interpretation of stereoscopic ASTER and PULSAR satellite images of this region has identified additional porphyry targets attesting to the tremendous prospectivity of this mineralised belt. These targets and the other known porphyry centers will be systematically explored in the future.
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.
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 eleven uranium properties, including the advanced Ingiin-Nars, Ulaan Nuur and Enger uranium projects, two 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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