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Re: News Releases - Wednesday, July 07, 2010
East Asia Minerals Expands Miwah Main Zone With Partial Assays of
1.68 g/t Gold Over 230.5 Metres; Remaining Contiguous Assay
Interval Expected Soon
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For Immediate Release, July 7, 2010 TSXV: EAS
VANCOUVER, B.C. -- Wednesday, July 7, 2010 -- East Asia Minerals
Corporation (TSXV-EAS) announces that drilling has greatly expanded 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. Partial assays received for EMD033 report 1.68 g/t
gold over 230.5 metres, including 2.33 g/t gold over 89 metres followed
by 1.87 g/t gold over 71 metres. This covers a large area of the
deposit extending north from East Asia's existing drilling. In
addition, EMD034, designed to test west of all drilling to date,
encountered 87.9 metres of 0.55 gpt gold including 28.9 metres of 1.14
gpt gold, extending the reach of the Miwah mineralization beyond the
initially modelled deposit size and adding significant gold ounce
potential.
EMD033 was drilled northeast from EMD014/026 using a 030 degree azimuth
and 55 degree dip to test the extension of alteration/mineralization
northeast of the Block M portion of the Miwah Main Zone and southwest
of Moon River. The hole was completed at 349.6 metres downhole depth
and encountered 1.68 g/t gold from 26.5 to 257 metres (end of sample
batch; samples for 257 metres to end of hole are pending); including
2.33 g/t gold from 58 to 147 metres, and 1.87 g/t gold from 162 to 233
metres. The mineralization is open to the north, east and at depth,
and is interpreted to be contiguous to gold-rich holes drilled in all
other directions. EMD033 has made a substantial positive impact
towards endorsing the modelled upside of the Miwah Main Zone being
continuous to the Moon River area. Should the Miwah Main Zone connect
to the Moon River area, the potential is to double the initial
pre-drilling model size.
"The results of EMD033 are very significant, with the gold assays
validating a large previously untested area of the shallow, gently
north dipping Miwah Main Zone between Moon River and the central Block
M area," commented Michael Hawkins, President and CEO of East Asia
Minerals. "This supports the notion of wide superior gold grade
intervals in the Block M area extending northerly from EMD008-012A.
Based on detailed drill core logging we anticipate that the gold
mineralization in EMD033 will extend contiguously past the partial
assay interval for a considerable distance."
EMD034 was drilled with a due east azimuth and 47 degree dip to test
further west of the Miwah Main Zone from EMD032. The hole was
completed at 200 metres downhole depth and encountered 0.55 g/t gold
from 106.1 to 194 metres, including 1.14 g/t gold from 106.1 to 135
metres. The mineralization is open to the north, south, west and at
depth, and is interpreted to be contiguous to the east towards
previously drilled gold-rich holes. This is the furthest west that
East Asia has drilled Miwah to date, and validates the recently
recognized west extension continuously over a three-hole east-west
fence (EMD028, 032, 034).
EMD035 was drilled with a due east azimuth and 47 degree dip to further
validate the Miwah Bluff portion of the Miwah Main Zone. The hole was
completed at 196 metres and encountered visually favourable
alteration/mineralization from 43.2 to 114.1 metres downhole depth.
Assays are pending.
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 visually favourable
alteration/mineralization from 19.6 to 34.1 metres, 59 to 105.9 metres,
and 158.7 to 182 metres. Assays are pending.
EMD037 is progressing well, using the same larger capacity drill rig as
EMD033, and is being 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 is 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.
Thus far EMD037 has encountered visually favourable
alteration/mineralization from 34 to 137 metres, and 165 to 168 metres
where the hole is continuing.
EMD038 has just commenced, using a due south azimuth and 55 degree dip
to test the down-faulted mineralized block intersected in EMD032 and
partially intersected in EMD036. (Refer to drill location map at
www.EAminerals.com).
The Miwah
Diamond drill program continues to execute its advanced
exploration bias, which is successfully maintaining geological control
of the gold-bearing horizon to effectively define the limits of the
known gold mineralization. A third drill rig will be brought to site
soon to test farther reaching drill targets such as Sipopok and the
west and east down-faulted extensions to the Miwah Main Zone This
drilling will follow near-completed detailed work designed to establish
the tight geological controls required to increase opportunities for
drilling success. In-fill resource drilling will commence once the
limits to the Miwah Gold Zones have been delineated.
East Asia has drill validated the 1.2 kilometre east-west outcropping
width of the shallow, laterally extensive Miwah Main Zone, and has
encountered gold mineralization in all of its holes. 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).
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 Wed Jul 7, 2010 at 5:08:24 AM Pacific Time
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