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Re: News Releases - Tuesday, February 09, 2010
East Asia Drills 1.16 g/t Gold Over 21 Metres Within 109 Metres
Grading 0.59 g/t Gold at Miwah; 1.2 Kilometre East-West Width
Validated
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For Immediate Release, February 9, 2010 TSXV: EAS
VANCOUVER, B.C. -- Tuesday, February 9, 2010 -- East Asia Minerals
Corporation (TSXV-EAS) reports that exploration drilling at the Miwah
Main Zone in Aceh Province, Northern Sumatra, Indonesia, continues to
demonstrate continuity of gold mineralization. At the eastern edge
EMD016 encountered 0.59 g/t gold over 109 metres, including 1.16 g/t
gold over 21 metres. East Asia has completed its 1.2 kilometre
east-west validation of the shallow, laterally extensive Main Miwah
Gold Zone, and has encountered significant gold mineralization in all
of its holes. The Main Miwah Gold Zone remains open.
EMD016 was drilled with a 86 degree azimuth and 70 degree dip, and was
shut down at 196.8 metres downhole depth. It is a step-out hole to the
east of the mineralized strike drilled to date where the nearest holes
EMD012A/013/015 encountered 1.28 g/t gold over 183.5 metres, including
2.11 g/t gold over 77.7 metres; and 1.01 g/t gold over 132.9 metres,
including 1.64 g/t gold over 70.2 metres. Surface channel sampling in
the target area gave 106.46 g/t gold over 4.6 metres, and 3.76 g/t gold
over 8.45 metres. Gold grading 0.59 g/t was encountered from 23 to 132
metres downhole depth, including 1.16 g/t gold from 23 to 44 metres.
The average of this 109 metre interval exceeds the resource cut-off
grade of the Martabe deposits (reported at 0.5 g/t gold cut-off for
Zones 30 and 40 in Pit 1 and Ramba Joring; and 0.3 g/t gold cut-off for
Barani). The mineralization in EMD016 is open in all directions and at
depth, and is interpreted to be contiguous to the west towards EMD013
and to surface.
NI43-101 resource estimate drilling is progressing well, including the
following;
EMD017 was drilled with a 115 degree azimuth and 55 degree dip, from a
location 150 metres north of EMD001/002/003 where 1.71 g/t gold over
158.0 metres, including 3.29 g/t gold over 66.0 metres; and 2.25 g/t
gold over 142.9 metres, including 4.31 g/t gold over 51.0 metres were
encountered to the southwest by the Phase One exploration drill
campaign. This hole was designed to test silicification and
mineralization northeast from the Miwah Bluff portion of the Main Zone,
and encountered the targeted alteration and mineralization. Assays are
pending.
EMD018 is being drilled with a due north azimuth and 30 degree dip to
test the area north of EMD001/002/003. The targeted strong vuggy
silica was entered at 38 metres depth, and the hole is continuing
within this favourable zone at the current depth of 86 metres. Assays
are pending.
EMD019 was drilled with a due south azimuth and 50 degree dip to test
the area north of EMD001/002/003/018, and was completed at 200.2
metres. The targeted strong vuggy silica was encountered from 82.5 to
162 metres. Assays are pending.
EMD020 has commenced and is being drilled with a 205 degree azimuth and
50 degree dip to test the area west of EMD019 (Refer to drill location
map on Company's website at www.EAminerals.com).
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 properly oriented drill holes.
Based on the Company's work Miwah is resolving into two components; a
large 1,200 metre long, at least 300 to 400 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, nor has it verified the cut-off grade references.
Although the references of resources and cut-off 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 71,127,372 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
Nick Kohlmann, Corporate Communications Toronto T: +1-416-792-8734
E: Kohlmann@EAminerals.com
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Copyright (c) 2010 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 Feb 9, 2010 at 5:53:03 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 KHOK ADAR, ENGER, ULAAN NUUR and INGIIN-NARS in Mongolia and TANGSE, TAKENGON, BARISAN 2 PORPHYRY PROJECTS, ABONG, SANGIHE, MIWAH, UPPER TENKERENG and BARISAN in Indonesia. 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. |