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| | June 07, 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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| | For Immediate Release, June 7, 2010 TSXV: EAS
VANCOUVER, B.C. -- Monday, June 7, 2010 -- East Asia Minerals Corporation (TSXV-EAS) announces that drilling has extended gold mineralization further to the north at the Miwah Gold Project in Aceh Province, Northern Sumatra, Indonesia, confirming the open northern potential. EMD029 encountered 1.07 g/t gold over 103.5 metres, including 2.01 g/t gold over 44 metres, extending the Miwah Main Zone north from EMD024 where 3.96 g/t gold over 111 metres, including 15.74 g/t gold over 22 metres was drilled. East Asia Minerals has now drilled nearly 600 metres in a continuous north-south section of the Miwah Main Zone, between EMD029 and 022, and has encountered gold in all holes (EMD018, 019, 022 to 024, 027 and 029).
EMD029 was 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 was completed at 350 metres. The hole encountered 1.07 g/t gold from 110 to 213.5 metres, including 2.01 g/t gold from 128 to 172 metres and 6.75 g/t gold from 133 to 140 metres. The mineralization is open in all directions, and is interpreted to be contiguous south towards 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 and encountered 1.07 g/t gold from 51 to 86.3 metres, including 3.23 g/t gold from 78 to 86.3 metres. Gold grading 0.39 g/t was also encountered deeper in the hole from 122 to 151.5 metres. The mineralization is open in all directions and extends the Miwah Main Zone west from EMD018 and 019 which respectively encountered 4.08 g/t gold over 81 metres, including 9.29 g/t gold over 21 metres; and 2.18 g/t gold over 116 metres, including 3.28 g/t gold over 61 metres.
EMD031 was drilled with a due south azimuth and 30 degree dip from the EMD028 location to further test the extension of alteration and mineralization to the west of the Miwah Bluff portion of the Miwah Main Zone. The hole was completed at 200 metres downhole depth and encountered visually altered and mineralized rock from 58 to 102 metres and 120.1 to 124.4 metres. From 124.4 metres to the end of hole, drilling encountered fault breccia with strong to intense fracturing and argillic alteration. Assays are pending.
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 visually favourable alteration/mineralization from 85 to 90 metres, and 108 to 146 metres. EMD032 has significantly opened the western extension of the gold mineralization beyond all previous EAS and historic drilling, and coincides with the Company's down-dropped block faulting model along the flanks of the Miwah Main Zone. This block faulting has resulted in an apparent gentle west dip to the mineralized body. Assays are pending.
EMD033 is still in pre-collaring and is planned to test 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.
EMD034 has just commenced and is using a due east azimuth and 47 degree dip to test further west of the Miwah Main Zone from EMD032. (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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