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Re: News Releases - Wednesday, June 03, 2009
East Asia Discovers New Extension to Miwah Gold Zone, Grading Up
to 125.9 g/t Gold Over 23 Metres
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For Immediate release, June 3, 2009 TSXV:
EAS
VANCOUVER, B.C. -- Wednesday, June 3, 2009 -- East Asia Minerals
Corporation (TSXV-EAS) reports that ongoing mapping and sampling of the
Company's flagship Miwah Gold Project in Aceh Province, Northern
Sumatra, has discovered a new bonanza grade extension to the Miwah Gold
Zone, and has encountered additional high-grade gold mineralization at
the eastern portion of the main body. Drill pad preparation is in
progress with the drill rig mobilized to commence the initial ten-hole
program along the full strike length of the impressive Miwah Gold Zone.
Initial rock chip sampling of a newly discovered southwesterly
extension to the Miwah Gold Zone has encountered several gold-rich
channels, including 125.9 g/t gold over 23 metres and 19.15 g/t gold
over 8 metres. Infill rock sawn channel sampling in the east area of
the Miwah Gold Zone has encountered several new high-grade gold
sections, including 3.62 g/t gold over 28 metres and 3.76 g/t gold over
8.45 metres.
Miwah Update
Concurrent to ground preparations for the upcoming drill program,
geological teams are continuing with sampling of the main Miwah Gold
Zone, regionally in areas such as the highly prospective Sipopok Gold
Zone 1.5 kilometres to the NNE, and in areas where mapping and sampling
are defining direct extensions to the Miwah Gold Zone. Assays results
from 223 rock sawn and rock chip channel samples have been recently
received for the newly discovered South Miwah Bluff feeder zone and the
eastern portion of the Miwah Gold Zone.
Air photo interpretation defined the South Miwah Bluff zone, which is a
subdued north-northeast trending ridge comprising a number of
subsidiary feeder structures. The main feeder structure occurs as a
southwesterly extension to the high-grade structure mapped at the
western area of the Miwah Gold Zone, which will be tested during the
upcoming EAS drill program. This zone is a new EAS discovery not
recognized by previous explorers, and further demonstrates the robust
upside of the large Miwah tenement.
The South Miwah Bluff zone occurs as interspersed boulders and
sub-cropping strongly silicified blocks of andesite crystal tuff and
tuff breccia. Similar to the main Miwah Gold Zone the dominant
alteration is vuggy silica with sugary and massive silica, with
moderate to strong oxidization, rare (<1%) remnant sulphide minerals
(pyrite & enargite) and native sulphur.
Results from recent sampling has both increased the known size of the
Miwah Gold Zone and confirmed the presence of high-gold grade feeder
structures to the south. The discovery of the South Miwah Bluff bonanza
gold zone has opened up the southwest portion of Miwah prospect by an
additional 350 metre by 250 metre area with very promising potential to
further increase the southerly strike. The discovery of bonanza gold
grades hosted in NNE trending structures south of the Miwah Gold Zone
suggests that these are feeding gold mineralization into the larger
receptive horizons being targeted by the upcoming drill program. These
gold mineralized structures also suggest very good starting potential
for future mining activities to generate faster returns on investment
and aid in cash flow for ramping up production from the larger outflow
zones. In addition to drilling of the main Miwah Gold Zone, ongoing
exploration efforts will define drill targets within the new discovery
for testing immediately following the current program.
Channel Sample Highlights:
Block M Area Length (metres) Gold (g/t)
Trench (RC) 129 28.00 3.62
Trench (RC) 139 21.00 2.11
Trench (RC) 149 10.70 2.40
Trench (RC) 150 10.00 2.33
Trench (RC) 155 8.45 3.76
South Miwah Bluff Zone Length (metres) Gold (g/t)
Trench (RO) 154 8.00 4.97
Trench (RO) 158 23.00 125.84
Trench (RO) 159 9.00 4.79
Trench (RO) 160 8.00 19.15
Progress towards the upcoming drill program along the main Miwah Gold
Zone is on schedule. The drill rig has been mobilized and drilling
will commence soon. The initial drill program will comprise 10 holes
for a total of 2,000 metres to provide a 3D validation along the
currently defined 1,200 metre strike of the Miwah gold-bearing silica
zone, exposed along the impressive Miwah ridge.
This program will provide a further indication of the gold resource
potential and the framework for follow-up drilling. While well over
2,000 metres of rock saw channel samples averaging 1.2 g/t gold have
been collected by EAS across the entire system, the ongoing sampling
further verifies the Company's confidence that higher overall gold
grades can be achieved due to the presence of multiple high grade rock
saw channel samples including 4.11 g/t gold over 200 metres at the
eastern part of the gold zone, and 4.35 g/t gold over 27 metres at the
western part (refer to previous news releases). Initial drill results
from the program are expected in July with drilling continuing for
approximately three months and beyond with follow-up drilling.
Miwah Background
The Miwah Gold Zone was partially defined by approximately 3,000 metres
of drilling in eleven 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 clearly 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 properly oriented drill holes.
Rock saw channel sampling by EAS in 2008 within a well defined, one
square kilometre zone of high sulphidation alteration averaged 1.2 g/t
gold and +3 g/t silver from over 2,000 metres of samples. Better gold
mineralization, including 4.11 g/t gold over 200 metres, is closely
related to massive, residual vuggy silica-sulphide forming an
impressive resistant, east-northeast trending cliff traced 1,200 metres
along strike, averaging 300 metres wide and up to 200 metres high.
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 Intertech assay laboratories in
Jakarta. Michael Hawkins, M.Sc., MAusIMM, the designated QP within the
meaning of 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 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 twelve uranium properties, including the
advanced Ingiin-Nars, Ulaan Nuur and Enger uranium projects, four
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.
To receive or stop receiving EAS news via email, please email
Info@EAminerals.com and state your preference in the subject line.
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
or
Nick Kohlmann, Corporate Communications
Toronto
T: +1-416-792-8734
E: Kohlmann@EAminerals.com
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Copyright (c) 2009 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 Wed Jun 3, 2009 at 6:00:36 AM Pacific Time
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East Asia Minerals Corporation
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EXPLORATION STAGE |
CODE : EAS.V |
ISIN : CA2705411056 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
East Asia Minerals is a gold and silver exploration company based in Canada. East Asia Minerals holds various exploration projects in Indonesia. Its main exploration properties are TAKENGON, BARISAN 2 PORPHYRY PROJECTS, TANGSE, SANGIHE, ABONG, MIWAH, UPPER TENKERENG and BARISAN in Indonesia and ENGER, KHOK ADAR, ULAAN NUUR and INGIIN-NARS in Mongolia. East Asia Minerals is listed in Canada and in Germany. Its market capitalisation is CA$ 8.3 millions as of today (US$ 6.3 millions, € 5.3 millions). Its stock quote reached its highest recent level on May 14, 2010 at CA$ 8.73, and its lowest recent point on January 01, 2016 at CA$ 0.01. East Asia Minerals has 53 790 000 shares outstanding. |