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Re: News Releases - Monday, March 02, 2009
East Asia Minerals Encounters Significant Porphyry Gold
Mineralization at Lower Tengkereng
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For Immediate release, March 2, 2009
TSXV: EAS
VANCOUVER, B.C. -- Monday, March 2, 2009 -- East Asia Minerals
Corporation (TSXV-EAS) reports that new results from recent surface
channel sampling at Lower Tengkereng, including 31 metres of 0.77 g/t
gold plus 0.03% copper and 116 metres of 0.33 g/t gold plus 0.04%
copper, confirms the presence of gold-rich porphyry mineralization.
These results are significantly better than the historical drill
intercepts from the upper 90 metres of the Lower Tengkereng porphyry
system. Historic drill and current surface results at Lower Tengkereng
are better than results from Upper Tengkereng located 1.5 kilometres
northeast of Lower Tengkereng.
Lower Tengkereng Exploration Update
Recent chip channel sampling of newly constructed drill rig access
tracks and creek exposures at Lower Tengkereng has returned broad gold
intervals associated with an argillic to advanced argillic altered
diorite porphyry stock and quartz vein stockwork (view map at
www.EAminerals.com). To date these mineralized rocks have been mapped
over a distinct, 600 metre by 500 metre conical hill sharing a similar
topographic expression and vegetation anomaly to Batu Hijau (900
million tonnes @ 0.4 g/t gold & 0.53% copper). Selected composite
intervals are tabled below. Note that copper is typically leached in
the upper oxidised zone resulting in subdued values.
Trench Number Interval (m) Gold (g/t) Copper (%)
C 15 0.33 0.02
D 31 0.77 0.03
G 116 0.33 0.04
Including 28 0.44 0.08
And 14 0.76 0.04
F 66 0.21 0.05
H 96 0.28 0.05
Including 18 0.35 0.05
And 10 0.36 0.05
And 16 0.37 0.04
Future drill testing at Lower Tengkereng, planned for later this year,
has the potential to double the historic gold values based on
comparison of the recent EAS drill results with historical values at
Upper Tengkereng, especially in deeper parts of the porphyry system.
Previously reported results for EAS core drilling at Upper Tengkereng,
located 1.5 kilometres northeast of Lower Tengkereng, included 268
metres of 0.57 g/t gold and 0.26 % copper (0.92 g/t gold equivalent),
representing a significant increase in grade over the historical
results. This may be due to the gold grades in previous work being
understated, or alternatively a vectoring in of the system toward
higher gold-copper grades.
Lower Tengkereng has better historical results & surface indications
than Upper Tengkereng including drill intersections: LT-07: 339 metres
of 0.5g/t gold & 0.2% copper; including 20.8 metres of 0.95 g/t gold
and 0.3% copper from 91 metres
LT-01: 214 metres of 0.5 g/t gold & 0.2% copper; including 20.0 metres
of 0.70 g/t gold and 0.3% copper from 86 metres
Barisan Porphyry Geological Setting
East Asia Minerals' Barisan II Project encompasses a cluster of six
known porphyry centers within a 6.2 kilometre by 3 kilometre block
(view map at www.EAminerals.com). At the Upper and Lower Tengkereng
Prospect areas, two windows of similar porphyry gold-copper
mineralization, located about 1.5 kilometres apart, are exposed through
shallow interbedded sedimentary and volcanic cover rocks and may be
linked at depth. Recent and historical drilling suggests that gold and
copper grades improve with depth.
Geological features observed in drill core from Upper Tengkereng and
surface outcrops at Lower Tengkereng confirm that these systems share
many features of the world's best gold-rich porphyry copper deposits in
the circum-Pacific rim.
Other Ongoing Exploration Activities
Miwah: At the EAS flagship gold project, recent assay results from rock
sawn channel sampling the central Block M area returned consistently
strong gold mineralization averaging 4.11 g/t gold across a 200 metre
long, semi-continuous channel (see January 21, 2009 news release).
Mapping and rock saw sampling is progressing along the eastern section
of Block M with concurrent follow up prospecting and initial sampling
of newly identified regional target areas east-northeast and northwest
of Sipopok. This ongoing work will form the basis for selecting
optimum drill targets which are anticipated to be drill tested in Q2
2009.
Bahu: Mapping and sampling has been initiated at this porphyry
gold-copper prospect located 4.5 kilometres northeast of Upper
Tengkereng. Historic surface channel samples at Bahu consistently
returned encouraging values, including 46 metres of 0.75 g/t gold and
268 ppm copper, and 30 metres of 0.71 g/t gold and 341 ppm copper from
a 2.3 by 1.0 kilometre alteration zone. Bahu has never been drilled.
Samples reported were assayed at Intertek Laboratories in Jakarta.
David Royle, B.Sc. (Hons), FAusIMM, CP, the designated QP within the
meaning of 43-101, has reviewed and approves the content of this
release. East Asia has not verified the classification of the
reserve/resource reference and is not treating it as a NI 43-101
defined reserve/resource verified by a QP. Although the reference of
reserve/resource is relevant to recognizing the potential of the Upper
and Lower Tengkereng Prospect areas, it should not be relied upon.
About East Asia Minerals Corporation
East Asia Minerals is an Asian-based, Canadian mineral exploration
company with gold and copper exploration properties in Indonesia, and
uranium and phosphate 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
55,645,372 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.
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 Mar 2, 2009 at 5:30:42 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. |