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| | August 10, 2010
East Asia Intercepts 0.4 g/t Gold, 0.2% Copper Over 415.1 Metres, Ending in 0.5 g/t Gold, 0.2% Copper Over 279.4 Metres at Lower Tengkereng Porphyry Project
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| | For Immediate Release, August 10, 2010 TSXV: EAS
VANCOUVER, B.C. -- Tuesday, August 10, 2010 -- East Asia Minerals Corporation (TSXV-EAS) announces that its first diamond drill hole at the Lower Tengkereng project confirms the presence of a significant gold-copper porphyry system within the Company's highly prospective Barisan porphyry belt, Aceh Province, Indonesia. LTD001 encountered 0.39 g/t gold, 0.18% copper over 415.1 metres, including 0.49 g/t gold, 0.22% copper over 279.4 metres where the hole was stopped due to poor drilling conditions. Additional drilling of Lower Tengkereng is in progress.
LTD001 was drilled with a due south azimuth and 60 degree dip. The hole was abandoned in mineralization at 417.4 metres due to hole collapse, however, sufficient mineralized porphyry was intersected to confirm the importance of this project. In addition, the overall gold grade and degree of favourable alteration intersected increases with depth. The results validate to the Company that the Barisan porphyry belt represents an important gold-copper system with multiple targets and porphyry centres.
LTD001 returned primary gold-copper intersections beneath coincident gold-copper surface geochemistry and magnetic anomalies associated with porphyry style alteration. The host rock is diorite. Alteration is predominantly quartz-alunite-clay-iron oxides with 1 to 5% quartz veining from 1 to 97 metres, quartz--illite-sericite-pyrite with 2 to 8% quartz veining containing variably oxidized pyrite +/- chalcocite veining from 97 to 210 metres, and quartz-illite-sericite-pyrite with 1 to 10% quartz veining containing un-oxidized pyrite-magnetite +/- chalcocite +/- chalcopyrite +/- bornite +/- molybdenite from 210 to 417.4 metres (end of hole).
Hole Number From (m) To (m) Interval (m) Gold (g/t) Copper (%)
LTD-001 2.3 417.4 415.1 0.39 0.18
Including 90.0 417.4 327.4 0.45 0.23
And 138.0 417.4 279.4 0.49 0.22
LTD002 was drilled with a 125 azimuth and 60 degree dip to continue testing for gold-copper mineralization at the Lower Tengkereng porphyry. The target includes a ground magnetic high to the southeast of LTD001, as well as favourable surface geology, geochemistry and drill results from nearby historic drilling. The hole was stopped at 180 metres depth in altered diorite porphyry due to drill string problems, and replaced by LTD002A.
Replacement hole LTD002A is progressing well with a 125 degree azimuth and 60 degree dip, targeting the same area as abandoned LTD002. LTD002A encountered andesite cover rock to 48 metres, with illite/clay-alunite-minor silica and iron oxide alteration, and 2 to 5% quartz veining. From 48 to 84 metres the host rock is illite/clay-pyrite altered quartz diorite porphyry with 1 to 3% quartz veining and fracture oxidation. This is followed to the current depth of 217 metres by silica-illite/sericite-pyrite altered diorite porphyry. In addition to 1 to 5% pyrite, the diorite porphyry contains minor chalcocite and up to 3% quartz veining with minor fracture oxidation to 154 metres, followed by minor magnetite alteration with 1 to 3% quartz veining and fracture oxidation to 180 metres, and minor chalcopyrite with up to 10% quartz veining and fracture oxidation to the current depth. (Refer to drill location map at www.EAminerals.com).
The Company also refers the reader to the news release of December 1, 2008, for the announcement of initial drilling at the Upper Tengkereng project, drilled approximately 1.5 kilometres away from Lower Tengkereng. At that time Upper Tengkereng was drilled due to ease of access and encountered 646.25 metres averaging 0.39 g/t gold and 0.21% copper, including a significant intersection of 268 metres of 0.57 g/t gold and 0.26% copper. Significant near surface gold mineralization was also intercepted, including 14 to 82 metres (68 metres) of 0.51 g/t gold and 0.21% copper.
The Upper and Lower Tengkereng targets occur as two large outcrop areas of similar porphyry gold-copper mineralization. The Company believes Upper and Lower Tengkereng are possibly contiguous, and part of one large system linked at depth, with the intervening area covered by shallow inter-bedded sedimentary and volcanic rocks.
Barisan Porphyry Geological Setting
East Asia Minerals' Barisan tenements encompass a cluster of six known porphyry centres within a 6.2 kilometre by 3 kilometre block (view map at www.EAminerals.com). Geological features observed in drill core from Lower and 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 mineralization 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 mineralized system is telescoped in which later stage vuggy, banded epithermal quartz veins overprint early porphyry-style veins.
Photogeological interpretation of stereoscopic ASTER and PULSAR satellite images of this region has identified additional porphyry targets, demonstrating the high prospectivity of this mineralized belt. These targets and the other known porphyry centers will be systematically explored. 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.
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 75,503,372 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.
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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