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Re: News Releases - Monday, March 12, 2007
East Asia Minerals Drills Uranium Mineralization at Ooshiin Govi
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For Immediate release, March 12, 2007 TSXV: EAS
VANCOUVER, B.C. -- Monday, March 12, 2007 -- East Asia Minerals
Corporation (TSXV-EAS) reports drill confirmation of a laterally
extensive in-situ leach uranium environment at its 100% owned Ooshin
Govi Property in southeast Mongolia. The drilling intercepted a thick
sequence of uranium bearing sands and has validated the continuation of
the same radiometric anomaly that extends south from the adjacent
Compagnie Generale des Matieres Nucleaires (AREVA) property where
extensive drilling over recent years has been conducted right up to the
Ooshiin Govi property boundary. The Ooshiin Govi property covers 40 to
60% of this anomaly.
The first phase of EAS drilling was completed early March. A total of
15 vertical holes ranging from 117 to 200 metres depth were completed
along two fences at the EAS -- AREVA tenement boundary. Approximately
2,418 metres of downhole gamma logging were completed. Regional and
property scale radiometric anomaly maps with drill hole locations are
posted at www.EAminerals.com.
The drilling tested the western-most radiometric anomaly on the Ooshiin
Govi property, one of several such anomalies identified on the EAS
tenements. Within this anomaly, EAS interprets two wide, finger-like
radiometric segments extending from the AREVA ground. A fence of ten
holes, spaced generally 100 metres apart was completed over the east
segment and encountered unconsolidated sands with multiple zones of
downhole radiometric anomalies over a thickness of 80 to 90 metres.
The anomalous horizons are open in both directions beyond the one
kilometre of defined uranium-bearing stratigraphy. A second fence of
five holes was drilled over the western segment, 1.8 kilometres west of
the first fence. The same uranium-bearing stratigraphy as identified
in the east segment was encountered over 600 metres and remains open in
both directions.
Difficult ground conditions and poor sample recovery were experienced
during drilling however sample recovery was greatly improved towards
the end of the program. There is concern of uranium grade dilution due
to water used in the drilling process. Alternative systems capable of
adequate sample recovery in these difficult terrains are currently
being evaluated for any future drilling.
Drill results indicate a large body of unconsolidated sand hosted
uranium mineralization with clay and lignitic intervals. The drill
program successfully validated an extensive and laterally continuous
redox front, and anomalous radioactivity at this front and beneath the
water table. Favourable porous host rock (unconsolidated sand)
sandwiched between impermeable strata (clay layers), and an extensive
size potential suggest the mineralization may be amenable to low cost
ISL mining methods.
ISL, in-situ leaching, also known as solution mining, is a low cost
uranium recovery process that can remove the uranium from the ground
without moving the ore. Liquids to dissolve the uranium are pumped
into the uranium bearing sands. The uranium-rich solution is pumped
back to surface and the uranium is recovered. There is little surface
disturbance and no tailings or waste rock are generated. World-wide,
about 20% of uranium production is by ISL methods.
The Company envisions a large, flat, buried river bed (paleochannel)
environment for the Ooshiin Govi mineralization. Deposits in similar
environments are being developed. For example, in neighbouring
Kazakhstan Cameco, the world's largest publicly traded uranium company,
is developing the Inkai ISL Uranium Project with global reserves
reported at 860 million pounds U3O8, including proven and probable
reserves of 143 million pounds U3O8 at an average grade of 0.06% U.
Another is the Mynkuduk Project with a total of 174 million pounds
U3O8, including proven and probable reserves of 127 million pounds U3O8
at an average grade of 0.035% U.
Major Drilling Group conducted Phase One drilling at Ooshiin Govi.
Samples have been sent for assay to ACTLABS in Ulaanbaatar, Mongolia.
Mike Hawkins, M.Sc., MAusIMM, the designated QP within the meaning of
43-101, has reviewed and approves the content of this release. EAS has
not verified the classification of stated reserve numbers, although
these estimates are relevant to demonstrating the potential of the
Ooshin Govi Property.
East Asia Minerals Corporation also announces that its Annual General
Meeting will now be held on April 20, 2007 at Suite 401-750 West Pender
Street, Vancouver, B.C. at 11:00 am, Pacific time.
About East Asia Minerals Corporation
East Asia Minerals is an Asian-based Canadian mineral exploration
company with gold, copper and uranium assets and acquisition targets in
the East Asia Region. It has a 75% interest in the Takengon gold
project and is finalizing agreements for additional advanced gold and
copper-gold projects in Indonesia. The Company also owns six uranium
properties and a 75% interest in the Khok Adar copper oxide discovery
in Mongolia. East Asia has 42,820,752 shares outstanding. Shares are
listed for trading on the TSX Venture Exchange under the symbol "EAS".
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FOR FURTHER INFORMATION, visit the Company's website at
www.EAminerals.com, or contact:
Lyndon Bradish, President and CEO
T: +852 2719-1551 (Hong Kong)
E: Bradish@EAminerals.com
Nick Kohlmann, Corporate Communications
T: +1-416-792-8734 (Toronto)
E: Kohlmann@EAminerals.com
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Copyright (c) 2007 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 Mar 12, 2007 at 9:32:50 AM Pacific Time
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