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Re: News Releases - Tuesday, May 01, 2007
East Asia Minerals Acquires Tangse Porphyry Copper-Molybdenum and
Barisan Copper Gold Projects in Indonesia
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For Immediate release, May 1, 2007 TSXV: EAS
VANCOUVER, B.C. -- Tuesday, May 1, 2007 -- East Asia Minerals
Corporation (TSXV-EAS) announces it has signed agreements to explore
and develop the Tangse porphyry copper-molybdenum and the Barisan
copper-gold projects in Indonesia. Under the terms of the agreements,
EAS has an 80% starting equity in each of the projects, which are
located in Aceh Province, North Sumatra, the most under-explored part
of the highly prospective Indonesian archipelago. A location map of
the properties is posted at www.EAminerals.com.
Tangse
Previous limited drilling by CRA (Conzinc RioTinto Australia) in the
1980s at Tangse outlined a large porphyry copper-molybdenum deposit
containing a coherent zone of copper-molybdenum mineralization five
kilometres long and one to two kilometres wide. Historical order of
magnitude estimates (non-NI 43-101 compliant) are at least 600 million
tonnes (Mt) of lower grade material, including a higher grade zone of
30 Mt with grades between 0.3 and 0.8% copper (Cu), and 0.02 to 0.03%
molybdenum (Mo) (van Leeuwen et al, 1987).
The Tangse porphyry system has been subjected to widespread supergene
enrichment. This is most prevalent in the higher grade, hypogene
portion of the deposit where the primary copper grade has reportedly
been upgraded by a factor of 1.5 to 3, to grades in excess of 1%
copper. EAS exploration will initially focus on this enriched zone.
The Tangse project has excellent logistics, and is located only 100
kilometres to the southeast of the Provincial capital of Banda Aceh.
It is adjacent to a main regional highway and the power grid.
Barisan
East Asia Minerals has also signed an agreement with its Acehnese
partner to explore and develop the Barisan Project consisting of four
tenements in two project areas, also located in Aceh Province. There
are three known, classically zoned, partially explored porphyry
copper-gold systems and two significant gold anomalous areas within the
project.
Previous limited drilling by CRA (Conzinc RioTinto Australia) in the
mid 1990s at Barisan identified three historical resources associated
with small (500m x 300m) diorite-tonalite porphyry stocks (Crow and van
Leeuwen, 2005):
Upper Tengkereng 41 Million tonnes at 0.24% copper and, 0.25 g/t gold
Lower Tengkereng 15 Million tonnes at 0.16% copper and 0.38 g/t gold
Upper Ise-Ise 10 Million tonnes at 0.20% copper and 0.17 g/t gold
These historical resources are quoted as tonnes per vertical 100 metres
and are based on limited drilling. Great vertical extent is typically
exhibited by Pacific Rim porphyries and the Company is optimistic that
further exploration has good chances for success.
In addition to the above prospects, the Barisan tenement is host to a
sedimentary-hosted gold deposit called the Abong prospect. This
prospect has a historical resource in jasperoid of 8.7 million tonnes
at 1.26 g/t gold and 2.8 g/t silver, and, 6 million tonnes at 0.81 g/t
gold and 3.5 g/t silver in volcanic rocks (Crow and van Leeuwen, 2005).
The other gold anomalous zone has a kilometric trail of mineralized
rock samples reportedly containing up to 456g/t gold.
"With strong local partners and four highly prospective, advanced
projects in northern Sumatra, East Asia Minerals' presence as a serious
competitive explorer in Aceh Province is solidified", stated Michael
Hawkins, East Asia's President. "We have identified significant
exploration upside in the sparsely drilled Tangse and Barisan
properties and will focus our efforts on attempting to define NI 43-101
compliant resources with particular emphasis on the secondary
enrichment zones in the porphyries".
The Company also announces its partners have been granted an additional
5,000 hectare KP covering highly prospective ground near the Collins
prospect on its Takengon property (news release of February 26, 2007)
in Aceh Province. In addition the Company reports that it has
commenced negotiation with the relevant authorities for the grant of
CoW's over its Aceh project areas.
References
Crow, M.J and van Leeuwen, T.M., 2005, Metallic mineral resources, in
Sumatra: Geology, Resources and Tectonic Evolution (A. J. Barber, M. J.
Crow and J. S. Milsom, eds), Geological Society of London Memoirs V.
31, 147-174
van Leeuwen, T.M., Taylor, R.P., and Hutagalung, J., 1987, The geology
of the Tangse porphyry copper-molybdenum prospect, Aceh, Indonesia:
Economic Geology, v. 82, 27-42
Michael Hawkins, M.Sc., MAusIMM, the designated QP within the meaning
of 43-101, has reviewed and approves the content of this release. EAS
has not verified the classification of the historic resource references
and is not treating them as NI 43-101 defined resources verified by a
QP. Although these historical references of resource potential are
relevant to recognizing the potential of the Tangse and Barisan
Properties, they should not be relied upon.
About East Asia Minerals Corporation
East Asia Minerals is an Asian-based, Canadian mineral exploration
company with uranium, gold and copper assets in Mongolia and Indonesia.
The Company owns six uranium properties, highlighted by the Ooshiin
Govi tenements, and a 75% interest in the Khok Adar copper oxide
discovery, in Mongolia. In Indonesia, it has a 70% interest in the
Sangihe gold project, an 85% interest in the Miwah gold project, an 80%
interest in Tangse copper-moly and Barisan gold-copper projects, and a
75% interest in the Takengon gold project. East Asia currently has
42,863,868 shares outstanding. Its shares are listed for trading on
the TSX Venture Exchange under the symbol "EAS".
To receive or stop receiving EAS news via email, please email
Info@EAminerals.com and state your preference in the subject line.
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
Vancouver
T: +1-778-997-2183
E: Hawkins@EAminerals.com
or
Nick Kohlmann, Corporate Communications
Toronto
T: +1-416-792-8734
E: Kohlmann@EAminerals.com
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Copyright (c) 2007 EAST ASIA MINERALS CORPORATION (EAM) All rights
reserved. For more information visit our website at
http://www.eaminerals.com/ or send mailto:info@eaminerals.com
Message sent on Tue May 1, 2007 at 6:37:21 AM Pacific Time
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