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Re: News Releases - Monday, August 10, 2009
East Asia Minerals Encounters 4.31 g/t Gold Over 51 Metres In
Wider Interval of 2.25 g/t Gold Over 142.9 Metres From
Diamond Drilling at Miwah
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For Immediate release, August 10, 2009 TSXV: EAS
VANCOUVER, B.C. -- Monday, August 10, 2009 -- East Asia Minerals
Corporation (TSXV-EAS) reports that assays have been received for an
additional
Diamond drill hole at its flagship Miwah Gold Project in
Aceh Province, Northern Sumatra. The results continue to support the
interpretation of shallow out-flowed, laterally extensive gold
mineralization controlled by higher-grade feeder structures that cut
through the 1.2 kilometre long Miwah Gold Zone. Drill hole EMD003
encountered 2.25 g/t gold over 142.9 metres, including 4.31 g/t gold
over 51.0 metres.
EMD003 was drilled approximately 200 metres east of the currently
mapped western end of the Main Miwah Gold Zone (Refer to map on
Company's website at www.EAminerals.com), and positioned from the same
drill pad as EMD001/002 with a northwest azimuth (305 degrees) and 47
degree dip. Gold mineralization was encountered from 9.1 to 152.0
metres downhole depth, with 4.31 g/t gold from 11.0 to 62.0 metres.
The mineralization is open and interpreted to be contiguous to surface
where rock sawn samples including 4.25 g/t gold over 27 metres were
encountered; and is open to depth based on historic drill results from
holes collared to the south and 60 metres lower in elevation. In
addition the mineralization remains open in all directions. To the
south EAS' hole EMD002 encountered 1.71 g/t gold over 158.0 metres,
including 3.29 g/t gold over 66.0 metres, and to the southeast EMD001
encountered 1.97 g/t gold over 57.1 metres, including 2.78 g/t gold
over 38.3 metres.
Drill core samples for holes EMD004 and 005 are currently at the lab
preparation facilities and assays are expected within the next two
weeks.
EMD004 was drilled with a west azimuth (270 degrees) and 30 degree dip
to 175 metres, to validate a historic hole which encountered 71 metres
of 1.42 g/t gold. EMD004 was collared from a pad located to the
southwest of holes EMD001-003, and 60 metres lower in elevation.
Holes EMD005 to 007 are short scout holes positioned more than 300
metres to the south of EMD001 to 004, in the new South Miwah Bluff Gold
Zone where rock sawn channel samples have returned up to 24 metres at
83.59 g/t gold. Following this scout drilling campaign the drill rig
will be returned to the main east-west laterally extensive Miwah Gold
Zone where drilling will be continued several hundred metres to the
east of holes EMD001 to 004.
"We continue to be greatly encouraged by the Miwah gold system", stated
Michael Hawkins, President and CEO of EAS. "Mineralization in the third
hole of our program provides northerly strike extension to similar gold
drilled in our first two holes. Our interpretation of high-grade
structural feeder controls on the Main Miwah Gold Zone is now well
supported; as is the confidence that higher overall grades than the 1.2
g/t gold average from surface channel sampling will be achieved. In
addition, the recently discovered South Miwah Bluff Gold Zone continues
to grow, and appears to represent exposure of the underlying
higher-grade gold-bearing structures. Here results for more than 200
metres of rock sawn channel samples average 14 g/t gold. South Miwah
Bluff displays the upside potential for continued exploration of the
highly prospective Miwah land tenement".
The initial drill program will comprise 10 holes for a total of 2,000
metres to provide a 3D validation along the currently defined 1,200
metre east-west extent of the main Miwah gold-bearing silica zone, and
an additional 150 metres for 3 scout holes to the south. This program
will provide a further indication of the gold resource potential and
the framework for follow-up drilling.
Miwah Background
The Miwah Gold Prospect was partially defined by approximately 3,000
metres of drilling in eleven 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, 300 to 400 metre wide, approximately 200 metre
thick tabular zone; and vertical feeder zones that are beneath and cut
through this. Within the tabular zone East Asia has over 2,000 metres
of rock sawn channel samples which average 1.2 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 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 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. 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 Intertech 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 twelve uranium
properties, including the advanced Ingiin-Nars, Ulaan Nuur and Enger
uranium projects, four phosphate properties, and a 75% interest in the
Khok Adar copper oxide discovery in Mongolia. East Asia currently has
64,855,372 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.
This news release does not constitute an offer to sell or a
solicitation of an offer to sell any of the securities in the United
States. The securities have not been and will not be registered under
the United States Securities Act of 1933, as amended (the "U.S.
Securities Act") or any state securities laws and may not be offered or
sold within the United States or to U.S. Persons unless registered
under the U.S. Securities Act and applicable state securities laws or
an exemption from such registration is available.
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
or
Nick Kohlmann, Corporate Communications
Toronto
T: +1-416-792-8734
E: Kohlmann@EAminerals.com
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Copyright (c) 2009 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 Aug 10, 2009 at 7:51:56 AM Pacific Time
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