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East Asia Deepens EMD024 and Reports 6.59 g/t
Gold Over 60
Metres, Within 2.55
g/t Gold Over 201 Metres; Scout Drilling at
Sipopok Hits Miwah-Type Horizon
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East Asia Minerals Corporation (TSXV-EAS) announces that drilling has extended
EMD024,
which previously ended in high-grade gold mineralization due to drill
rig limitations. EMD024 now reports 2.55 g/t gold over 201 metres,
including 6.59 g/t gold over 60 metres, greatly
increasing the
thickness of the gold-bearing alteration package at the Miwah
Gold
Project in Aceh Province, Northern Sumatra, Indonesia. In addition,
drill holes EMD047 to EMD049 continued to expand the gold bearing Main
Zone north towards Moon River and to the east. At Sipopok
scout
drilling has commenced and the targeted Miwah-type
horizon has been
encountered.
EMD024 was completed at 500.4 metres, using the
previously drilled due
north azimuth and 55 degree dip. Previous drill hole EMD024 was
terminated in high-grade gold mineralization at 209 metres
due to drill
rig limitations, and encountered 3.96 g/t gold from 98 to 209 metres
(111 metres), including 15.74 g/t gold from 187 to
209 metres (22
metres), indicating increasing grade and thickness to
the north. The
penultimate and ultimate metre intercepts downhole graded 17.25 g/t
gold and 20.6 g/t gold respectively (news release April 9, 2010). This
extension hole also undercut EXD003, which encountered 1.31 g/t gold
from 174.5 metres to the end of hole at 220.5 metres (46 metres),
including 11.78 g/t gold from 217 to 220.5 metres
(3.5 metres) where it
finished in high-grade gold mineralization due to drill rig
limitations. The penultimate 1.25 metre
interval graded 30.37 g/t gold
(news release September 21, 2010).
The complete mineralized package in EMD024 assays 2.55 g/t gold from 98
to 299 metres (201 metres),
including 6.59 g/t gold from 187 to 247
metres (60 metres). The alteration/mineralization is interpreted
to be
contiguous to gold-rich holes drilled to the south, and is open in all
other directions and at depth. (Refer to N-S section and drill
location map at www.EAminerals.com).
EMD047 was drilled with a 30 degree azimuth and 63 degree dip to test
for continuity of mineralization northeast from EMD044 towards Moon
River. The hole was completed at 350 metres and
encountered 0.38 g/t
gold from 130.7 to 330 metres (199.3 metres), including 0.67 g/t gold
from 139 to 213 metres (74 metres)
and 1.10 g/t gold from 157 to 172
metres (15 metres).
The alteration/mineralization is interpreted to be
contiguous to gold-rich holes drilled to the south, and is open in all
other directions and at depth.
EMD048 was drilled with a 90 degree azimuth and 55 degree dip to test
for continuity of mineralization due east from EMD045. The hole was
completed at 220.5 metres and encountered 1.20 g/t
gold from 138 to
220.5 metres (82.5 metres),
including 1.76 g/t gold from 159 to 206
metres (47 metres).
The alteration/mineralization is open to the north
and at depth, and is interpreted to be contiguous to gold-rich holes
drilled in all other directions.
EMD049 was drilled with a 205 degree azimuth and 55 degree dip to test
for continuity of mineralization northeast from EMD041/046
(respectfully 1.02 g/t gold over 113.8 metres,
including 3.87 g/t gold
over 14 metres and 1.35 g/t over 16 metres; and 1.83 g/t gold over 86
metres, including 2.25 g/t gold over 60 metres at end of hole), towards
Moon River. The hole was completed at 213 metres
and encountered 1.09
g/t gold from 47.3 to 144 metres (96.7 metres), including 2.66 g/t gold
from 113.7 to 134 metres (20.3 metres).
The alteration/mineralization
is open to the north, east and at depth, and is interpreted to be
contiguous to gold-rich holes drilled in all other directions.
EMD050 was drilled with a 25 degree azimuth and 55 degree dip to test
for continuity of mineralization north-northeast from recently
completed EMD049. The hole was stopped at 159.6 metres
due to drilling
problems and encountered favourable alteration/mineralization
from 16
to 21.5 metres, 69 to 109.1 metres,
and locally from 123.5 to 126.3
metres, 140.5 to 144.9 metres
and 153.7 to 156 metres. Assays are
pending.
EMD051 is being drilled with a 45 degree azimuth and 50 degree dip to
test for continuity of mineralization east from EMD024. To date the
hole encountered favourable alteration/mineralization
from 9.4 to 81.5
metres, intermittently from 81.5 to 145 metres, and from 145 metres
through to the current depth of 227 metres where
drilling is
progressing well.
EMD052 is being drilled with a 215 degree azimuth and 60 degree dip to
test for continuity of mineralization west from EMD024 and EXD003. To
date the hole encountered favourable
alteration/mineralization from
111.2 to 112.8 metres prior to entering a mixed favourable host from
112.8 to 127.3 metres. The hole re-entered the favoured host from
156.8 to the current depth of 160.7 metres where
drilling is
progressing well.
EXD005 was drilled with a 75 degree azimuth and 50 degree dip to test
the extension of alteration/mineralization to the southeast of EXD004
where recent channel sampling encountered 1.23 g/t gold over 12 metres,
including 3.04 g/t gold over 3 metres in the East
Block M area. The
target is located 400 metres east of drill hole
EMD016. EXD005 was
completed at 167.1 metres and encountered patchy favourable
alteration/mineralization from 0.7 to 58.5 metres,
and 69.5 to 92.4
metres. The alteration/mineralization is open
in all directions and at
depth. Assays are pending.
EXD006 was drilled with a 45 degree azimuth and 50 degree dip to test
northeast from EXD003 (1.31 g/t gold over 46 metres,
including 11.78
g/t gold over 3.5 metres at the end of hole) towards
Moon River. The
hole was completed at 350 metres, having encountered favourable
alteration/mineralization at 255.3 to 262.8 metres
and 268.6 to 276.4
metres, after drilling a localized area of quartz
diorite intrusive
from 163 to 242.4 metres. The favourably altered host rock was
followed by breccia intercalated with quartz diorite
intrusive from
276.4 metres to end of hole. Assays are
pending.
Scout drilling has commenced at Sipopok. SPD001
is being drilled with
a 215 degree azimuth and 65 degree dip to test for continuity and
improvement in alteration/mineralization to the east and beneath recent
rock sawn channel samples that assayed up to 1.26 g/t gold over 4
metres and 0.98 g/t gold over 4 metres.
The hole encountered
favourable alteration/mineralization from 2 to 6 metres, 12.4 to 17.8
metres, and 62.5 to 126 metres
where drilling is in progress.
Whilst preparing a drill pad for initial testing of Sipopok,
the scout
drill rig was used to complete a short southwest directed hole beneath
the high-grade western margin of South Miwah
Bluff. SMD001 was drilled
with a 225 degree azimuth and 60 degree dip, and completed at 120
metres depth. The hole encountered several
intermittent zones of
favourable silica alteration over the upper 20 metres. In addition,
breccia intersected at 48.7 metres
depth may be the dip extension from
the targeted siliceous breccia sampled at
surface. Assays are pending.
East Asia has diamond drill validated the 1.2 kilometre
east-west
outcropping width of the shallow, laterally extensive Miwah
Main Zone,
and has encountered significant gold mineralization in more than 95% of
all holes analyzed to date. 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. Recent sampling
east of the Miwah Main
Zone in the East Block M area has potentially expanded the east-west
width another 400 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 76,040,872 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
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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:
Hawkins@EAminerals.com
Nick Kohlmann, Corporate Communications
Toronto T: +1-416-792-8734
E: Kohlmann@EAminerals.com