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Re: News Releases - Monday, October 18, 2010
East Asia Drills 245 Vertical Metres of Gold Mineralization With
EMD044; and Extends Miwah Main Zone to the East With EXD004
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For Immediate Release, October 18, 2010 TSXV: EAS
VANCOUVER, B.C. -- Monday, October 18, 2010 -- East Asia Minerals
Corporation (TSXV-EAS) announces the intersection of 0.48 g/t gold over
244.7 vertical metres in EMD044, including 0.89 g/t gold over 116.5
metres at the Miwah Gold Project in Aceh Province, Northern Sumatra,
Indonesia. In addition, exploration drill hole EXD004 has extended the
Miwah Main Zone to the new East Block M discovery area. Drilling is
presently infilling the Miwah Main Zone to Moon River area, and
exploring further east in the East Block M discovery area.
EMD044 is a vertical drill hole designed to test for depth extension
from mineralization encountered by EMD033 (1.34 g/t gold over 323.1
metres, including 1.51 g/t gold over 270.5 metres). The hole was
completed at 352.2 metres and encountered 0.48 gpt gold from 107.5 to
352.2 metres (244.7 metres). This vertical intersection included 0.89
g/t gold from 107.5 to 224 metres (116.5 metres) with 1.27 g/t gold
from 114.5 to 157.5 metres (43 metres), and 0.11 g/t gold from 224 to
352.2 metres (128.2 metres) where it finished in favourable
alteration/mineralization. The alteration/mineralization is open to
the west and north, and is interpreted to be contiguous to gold-rich
holes drilled in all other directions.
EMD045 was drilled with a due west azimuth and 50 degree dip to test
the distribution of alteration/mineralization west of EMD041 towards
EMD033/37/37B. The hole was completed at 219.2 metres and encountered
0.39 g/t gold from 79.5 to 107.5 metres (28 metres), and 0.97 g/t gold
from 147 to 204 metres (57 metres) including 1.67 g/t gold from 156 to
174 metres (18 metres). The alteration/mineralization is open to the
east, north and at depth, and is interpreted to be contiguous to
gold-rich holes drilled in all other directions.
EMD046 was drilled with a 22 degree azimuth and 55 degree dip to test
for continuity of mineralization northeast from EMD041/045, towards
Moon River. The hole was completed at 220 metres and encountered
favourable alteration/mineralization from 97.7 to 220 metres. Assays
are pending.
EMD047 has just commenced with a 30 degree azimuth and 55 degree dip to
test for continuity of mineralization northeast from EMD044 towards
Moon River.
EMD048 has just commenced with a 90 degree azimuth and 55 degree dip to
test for continuity of mineralization due east from EMD045.
EXD004 was drilled with an 80 degree azimuth and 65 degree dip to test
the extension of alteration/mineralization to the southeast of Moon
River and northeast of Block M where recent channel sampling
encountered 2.22 g/t gold over 27.5 metres in the East Block M area.
The target is located 220 metres northeast of drill hole EMD016, the
furthest east that East Asia Minerals has drilled the Miwah Main Zone.
The hole was completed at 213 metres and encountered favourable
alteration/mineralization from 60.3 to 165.7 metres, and 203.8 to 211.7
metres. Assays are pending.
EXD005 is commencing 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 (Refer to drill
location and East Block M sample location maps map at
www.EAminerals.com).
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 75,655,872 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.
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 Mon Oct 18, 2010 at 5:57:46 AM Pacific Time
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