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Re: News Releases - Tuesday, April 06, 2010
East Asia Minerals Extends Miwah Gold Mineralization North, South
and in Lower Zone; Discovers Vuggy Silica Outcrops 600 Metres
West of Known Main Zone
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For Immediate Release, April 6, 2010 TSXV: EAS
VANCOUVER, B.C. -- Tuesday, April 6, 2010 -- East Asia Minerals
Corporation (TSXV-EAS) announces that drilling continues to extend gold
mineralization south and north from the Miwah Main Zone in Aceh
Province, Northern Sumatra, Indonesia. EMD022 encountered 3.55 g/t
gold over 48.1 metres, including 9.95 g/t gold over 11 metres in the
upper part of the Miwah Main Zone. It also encountered 0.33 g/t gold
over 30.5 metres in the recently discovered Lower Zone. The intercepts
in EMD022 are the southernmost intercepts of the Miwah Main Zone.
EMD023 encountered 1.32 g/t gold over 90 metres, including 1.90 g/t
gold over 50.3 metres. EAS also announces several new discoveries of
favourable vuggy silica in erosional window outcrops up to 600 metres
to the west of the previously defined Miwah Main Zone, considerably
expanding the potential east-west width of the Miwah Main Zone.
EMD022 was drilled with a 190 degree azimuth and 70 degree dip to test
the area immediately south of EMD001/002/003/018, and was completed at
300 metres downhole depth. Gold grading 3.55 g/t was encountered from
6.9 to 55 metres, including 9.95 g/t gold from 10 to 21 metres. Below
an intervening fault zone, EMD022 further intercepted the new Lower
Zone (first discovered in EMD018 approximately 250 metres to the north)
which assayed 0.33 g/t from 174.5 to 205 metres. The gold
mineralization is open to depth and in all directions, and is
interpreted to be continuous to the north towards EMD018/019.
EMD023 was drilled to 199 metres with a due north azimuth and 50 degree
dip to test north from the high-grade gold mineralization encountered
by EMD018/019. Gold grading 1.32 g/t was encountered from 83.5 to 173.5
metres, including 1.90 g/t gold from 85.7 to 136 metres. The
mineralized interval included 5.75 metres of open space cavity,
lowering the overall composite gold grade. The gold mineralization is
open to depth and in all directions, and is interpreted to be
continuous to the south towards EMD018/019 which encountered 4.08 g/t
gold over 81 metres including 9.29 g/t gold over 21 metres (EMD019),
and 2.18 g/t gold over 116 metres including 3.28 g/t gold over 61
metres (EMD020). Due to drill rig limitations EMD023 did not reach to
the Lower Zone.
EMD024 was drilled with a due north azimuth and 55 degree dip, 125
metres north from EMD023, and was completed at 209 metres downhole
depth. The hole encountered visually altered and mineralized rock from
90 metres downhole depth to the end of the hole. Of added significance
is that the favourable vuggy silica was cut by an intensive crustiform
and bladed quartz stockwork from 207.5 to 208.75 metres, being similar
in appearance to the surface rock sawn channel sample in the eastern
part of the Miwah Main Zone that graded 106.46 g/t gold over 4.6
metres.. Visuals and section interpretation suggest the Lower Zone
encountered in EMD018 may merge with the higher level Main Zone further
north towards EMD023/024. Assays are pending.
EMD025 is commencing with a 270 degree azimuth and 55 degree, to test
west from the EMD024 mineralized intersection (Refer to drill location
map at www.EAminerals.com).
EMD026 is commencing as a north-westerly step out from EMD014. This
hole is targeting the extension of silicification to the north and east
of the Miwah Bluff portion of the Miwah Main Zone.
EAS field crews have discovered favourable vuggy silica in outcrops up
to 600 metres west of EMD024, reinforcing the model that the
mineralized silica zone extends under cover further west of the current
Miwah Bluff outcrops and drilling.
"Strong and consistent gold mineralization in EMD022 and 023, the
intersection of favourable vuggy silica to the north in EMD024, and
newly discovered favourable outcrop to the west of the Main Zone, all
reinforce our belief that the Miwah gold system is potentially one of
the more important gold discoveries in this exploration cycle" remarked
Michael Hawkins, President and CEO of East Asia Minerals Corporation.
"The intersection of the lower mineralized zone in EMD022 and the new
discovery of a favourable horizon in outcrop to the west open the
possibility of extension beneath the South Miwah Bluff Zone and to the
west".
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 properly oriented drill holes.
Based on the Company's work Miwah is resolving into two components; a
large 1,200 metre long, at least 300 to 400 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 71,455,372 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
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 Apr 6, 2010 at 5:53:26 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. |