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Re: News Releases - Wednesday, February 17, 2010
East Asia Minerals Drills 9.29 g/t Gold Over 21 Metres Within 81
Metres Grading 4.08 g/t Gold; Miwah Main Zone Extended Further to
the North
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For Immediate Release, February 17, 2010 TSXV: EAS
VANCOUVER, B.C. -- Wednesday, February 17, 2010 -- East Asia Minerals
Corporation (TSXV-EAS) reports that strong gold mineralization
continues to be encountered at the Miwah Main Zone in Aceh Province,
Northern Sumatra, Indonesia. In the western area EMD017, partials for
EMD018, and EMD019 respectively encountered 1.36 g/t gold over 20.5
metres, including 1.67 g/t gold over 15.5 metres; 3.29 g/t gold over 47
metres (partials -- hole continues in mineralization with assays
pending); and 4.08 g/t gold over 81 metres, including 9.29 g/t gold
over 21 metres. This drilling has extended the gold zone further to
the north where it remains open. East Asia has validated the 1.2
kilometre east-west width of the shallow, laterally extensive Main
Miwah Gold Zone, and has encountered gold mineralization in all of its
holes. The Main Miwah Gold Zone remains open in all directions with the
Moon River area expanding the north-south potential from 400 metres to
more than 600 metres, whilst remaining open further to the north.
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 drill campaign. This
hole was designed to test silicification and mineralization northeast
from the Miwah Bluff portion of the Main Zone. Gold mineralization was
encountered to 72.0 metres downhole depth where it is locally cut off
to the east by the Rusa Fault Zone; the same fault zone that cut off
gold mineralization in EMD001. The hole continued in the Rusa Fault
Zone to the end of hole. Gold grading 1.36 g/t was encountered from
51.5 to 72.0 metres downhole depth, including 1.67 g/t gold from 51.5
to 67.0 metres. The mineralization is interpreted to continue further
east of the Rusa fault towards EMD014, and to remain open at depth and
in all other directions.
EMD018 is in progress at 244 metres with a due north azimuth and 30
degree dip to test the area north of EMD001/002/003. Strong visually
altered and mineralized rock was encountered from 39 to 158.55 metres,
213.4 to 221.5 metres, and from 238.95 to the current depth of 244
metres where the hole is in progress. EMD018 will be drilled to at
least 300 metres. Assays have been received for the upper part of the
hole (ending in strong gold mineralization) and grade 3.29 g/t from 39
to 86 metres downhole depth. The mineralization is open in all
directions and at depth, and is interpreted to be contiguous to the
southwest towards EMD003, which encountered 2.25 g/t gold over 142.9
metres including 4.31 g/t gold over 51.0 metres, to the northeast
towards EMD017, and north past EMD019. Assays remain pending from 86
metres.
EMD019 was drilled with a due south azimuth and 50 degree dip to test
the area north of EMD001/002/003/018. Gold grading 4.08 g/t was
encountered from 82 to 163 metres downhole depth, including 9.29 g/t
gold from 90 to 111 metres. The mineralization is open in all
directions and at depth, and is interpreted to be contiguous to the
southwest towards EMD003, to the northeast towards EMD017, and south
past EMD018.
"We consider the results from holes EMD017/018/019 to be very
encouraging", stated Michael Hawkins, President and CEO of East Asia
Minerals Corporation. "Together with the earlier announcement of strong
gold results from drill hole EMD014, these new results are
significantly north of the previously outlined gold mineralization and
confirm our interpretation that Miwah extends much further northwards
than previously thought."
EMD020 has been completed at 200 metres depth. It was drilled with a
205 degree azimuth and 50 degree dip to test the area to the west of
EMD019. The targeted strong vuggy silica alteration was encountered
from 77.4 to 185.55 metres downhole, suggesting that the vuggy silica
alteration may be thickening to the west. Assays are pending.
EMD021 is in progress with a 250 degree azimuth and 50 degree dip in
visually altered and mineralized rock to test the vuggy silica
alteration to the northwest of EMD020. (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. 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 71,394,872 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.
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 Wed Feb 17, 2010 at 6:03:34 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. |