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Re: News Releases - Tuesday, July 27, 2010
East Asia Encounters 4.27 g/t Gold Over 21.9 Metres Within 149.3
Metres Grading 1.43 g/t Gold at Miwah and Ends in Mineralization;
Third Drill Commences
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For Immediate Release, July 27, 2010 TSXV: EAS
VANCOUVER, B.C. -- Tuesday, July 27, 2010 -- East Asia Minerals
Corporation (TSXV-EAS) announces that it continues to expand the
gold-rich Miwah Main Zone in Aceh Province, Northern Sumatra,
Indonesia, and has further confirmed the potential to connect with the
Moon River area. EMD037 encountered 1.43 g/t gold over 149.3 metres,
including 4.27 g/t gold over 21.9 metres where the hole stopped due to
poor drilling conditions. Although a replacement hole is in progress
to determine the full extent of the mineralized horizon at this
location, EMD037 covers a large area of the deposit extending north
from East Asia's existing drilling.
The Company also announces that a third rig has commenced
Diamonddrilling at Miwah. Two rigs will be used to continue exploration in
the area from the Miwah Main Zone to Moon River. The third machine has
commenced regional targeting to the west of the Miwah Main Zone, at the
Signal area. This rig will also be used to test east of the Miwah Main
Zone in the East Block M area where rock chip sampling encountered up
to 2.78 g/t gold; and at Sipopok where detailed drill targeting work is
ongoing in this more rugged terrain.
EMD036 was drilled with a due west azimuth and 55 degree dip to test
for continuity directly west of EMD035 and to further explore/expand
the west extension of the Miwah Main Zone under shallow cover. The
hole was completed at 200 metres and encountered 0.42 g/t gold from
18.1 to 42 metres (23.9 metres), 0.63 g/t gold from 59 to 105.9 metres
(46.9 metres), and 0.84 g/t gold from 158.7 to 186 metres (27.3
metres). The mineralization is open to the west and at depth, and is
interpreted to be contiguous to gold-rich holes drilled in all other
directions.
EMD037 used the larger capacity drill rig, and was drilled with a 135
degree azimuth and 40 degree dip towards EMD008-012A (EMD-008 drilled
2.11 g/t gold over 100 metres, including 4.81 g/t gold over 30 metres;
and EMD012A drilled 1.28 g/t gold over 183.5 metres, including 1.79 g/t
gold over 113.2 metres and 2.11 g/t gold over 77.7 metres). This hole
was designed to validate a large area to the east of EMD033 and to
continue to prove up the potential to connect the Miwah Main Zone with
the Moon River area. EMD037 encountered 1.43 g/t gold from 37 to 186.3
metres, including 4.27 g/t gold from 164.4 to 186.3 metres where the
hole was abandoned in high-grade gold mineralization due to difficult
ground conditions. It was replaced by EMD037B.
Replacement hole EMD037B is progressing well with a 129 degree azimuth
and 50 degree dip, targeting the same area of the Miwah Main Zone as
abandoned EMD037. EMD037B encountered visually favourable
alteration/mineralization from 29 to 111 metres, 150 to 202 metres, 209
to 224 metres, and 230 to 275 metres where the hole remains in
progress.
EMD038 was drilled with a due south azimuth and 55 degree dip to test
for the down-faulted mineralized block intersected in EMD032 and
partially intersected in EMD036. The hole was stopped at 174.3 metres
due to drilling difficulties and the appearance of quartz diorite
porphyry from 151.8 to the end of hole. The presence of intrusive
rock, combined with elevated faulting in this area, resulted in EMD038
being less intensively silica altered than typical of the Miwah Main
Zone. It is interpreted that this diorite and faulting is local and
that the more intensely altered gold-bearing horizon exists along
strike in all directions. Assays are pending for silica-alunite
altered horizons in the upper parts of the hole.
EMD039 has just commenced with a 274 degree azimuth and 50 degree dip
to test for continuity between EMD008 (2.11 g/t gold over 100 metres,
including 4.81 g/t gold over 30 metres) and EMD014 (1.38 g/t gold over
101 metres, including 1.95 g/t gold over 58 metres).
EXD001 is the first hole for the third
Diamond drill rig that was
recently brought into the Miwah property to test farther reaching
exploratory targets. EXD001 has just commenced with a 90 degree
azimuth and 47 degree dip to test for gold mineralization to west of
the Miwah Main Zone, in the recently discovered Signal area (Refer to
drill location map at www.EAminerals.com).
East Asia has 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 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.
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).
Conforming to the New Indonesia Mining Law, the Miwah tenements were
formally converted to an Ijin Usaha Pertambangan (IUP "Mining Licence")
December 2009, providing security of long term tenure, automatic
conversion from exploration to development licence, and fiscal
stability. A large portion of the tenements are currently within Hutan
Lindung, the lowest category of Protection Forest. The Company is
fully permitted to conduct its exploration activities, and as the
project advances through various stages appropriate permits will be
applied for.
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 75,503,372 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.
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
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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 Jul 27, 2010 at 5:42:44 AM Pacific Time
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