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Re: News Releases - Thursday, October 21, 2010
East Asia Extends Miwah Main Zone 200 Metres to East Block M With
165.7 Metres of Gold Mineralization; and Commences Drilling
Extension to High-Grade EMD024
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For Immediate Release, October 21, 2010 TSXV: EAS
VANCOUVER, B.C. -- Thursday, October 21, 2010 -- East Asia Minerals
Corporation (TSXV-EAS) announces that drilling has extended the
east-northeast trend of the Miwah Main Zone approximately 200 metres to
the East Block M area at the Miwah Gold Project in Aceh Province,
Northern Sumatra, Indonesia. EXD004 encountered 1.47 g/t gold over
40.4 metres within a broader interval of 0.6 g/t gold over 165.7 metres
containing 0.89 g/t gold over 90 metres. In addition, a deeper
capacity drill rig has commenced the extension of EMD024, which ended
in high-grade gold mineralization due to previous drill rig
limitations.
EXD004 was drilled with an 80 degree azimuth and 65 degree dip to test
the extension of alteration/mineralization to the southeast of Moon
River and northeast of Block M where recent channel sampling
encountered 2.22 g/t gold over 27.5 metres in the East Block M area.
This target is located 220 metres northeast of drill hole EMD016, the
furthest east that East Asia Minerals has previously drilled the Miwah
Main Zone. The hole was completed at 213 metres and encountered 0.60
g/t gold from 0 to 165.7 metres (165.7 metres), including 0.89 g/t gold
from 0 to 90 metres (90 metres) with 1.47 g/t gold from 11.6 to 52
metres (40.4 metres), and 0.34 g/t gold from 116 to 165.7 metres (49.7
metres).
EXD004 demonstrates an improvement in thickness and grade from EMD016,
the nearest hole to the west (news release February 9, 2010). The
alteration/mineralization is open in all directions and at depth, and
is interpreted to be contiguous to gold-rich holes drilled to the west.
Surface gold mineralization has been encountered further southeast
within the East Block M area, where EXD005 was recently completed.
EXD005 was drilled with a 75 degree azimuth and 50 degree dip to test
the extension of alteration/mineralization to the southeast of EXD004
where recent channel sampling encountered 1.23 g/t gold over 12 metres,
including 3.04 g/t gold over 3 metres in the East Block M area. The
target is located 400 metres east of drill hole EMD016. EXD005 was
completed at 167.1 metres and encountered patchy favourable
alteration/mineralization from 0.7 to 58.5 metres, and 69.5 to 92.4
metres. The alteration/mineralization is open in all directions and at
depth. Assays are pending (Refer to East Block M sample location map
at www.EAminerals.com).
EXD006 is commencing with a 45 degree azimuth and 50 degree dip to test
northeast from EXD003 (1.31 g/t gold over 46 metres, including 11.78
g/t gold over 3.5 metres at the end of hole) towards Moon River (Refer
to drill location map at www.EAminerals.com).
EMD046 was drilled with a 22 degree azimuth and 55 degree dip to test
for continuity of mineralization northeast from EMD041/045, towards
Moon River. The hole was completed at 220 metres and encountered
favourable alteration/mineralization from 97.7 to 220 metres. The
alteration/mineralization is open to the north and at depth, and is
interpreted to be contiguous to gold-rich holes drilled in all other
directions. Assays are pending.
EMD047 was drilled with a 30 degree azimuth and 63 degree dip to test
for continuity of mineralization northeast from EMD044 towards Moon
River. The hole was completed at 350 metres and encountered favourable
alteration/mineralization from 130.7 to 350 metres. The
alteration/mineralization is interpreted to be contiguous to gold-rich
holes drilled to the south, and is open in all other directions and at
depth. Assays are pending.
EMD048 was drilled with a 90 degree azimuth and 55 degree dip to test
for continuity of mineralization due east from EMD045. The hole was
completed at 220.5 metres and encountered favourable
alteration/mineralization from 29.9 to 36.9 metres and 139 to 206.3
metres. The alteration/mineralization is open to the north and at
depth, and is interpreted to be contiguous to gold-rich holes drilled
in all other directions. Assays are pending.
EMD049 is commencing with a 205 degree azimuth and 55 degree dip to
test for continuity of mineralization northeast from EMD041 (1.02 g/t
gold over 113.8 metres, including 3.87 g/t gold over 14 metres and 1.35
g/t over 16 metres) towards Moon River.
Extension of EMD024 has commenced, continuing from the previously
drilled due north azimuth and 55 degree dip. Previous drill hole
EMD024 was terminated in high-grade gold mineralization at 209 metres
due to drill rig limitations, and encountered 3.96 g/t gold from 98 to
209 metres (111 metres), including 15.74 g/t gold from 187 to 209
metres (22 metres), indicating increasing grade and thickness to the
north. The penultimate and ultimate metre intercepts downhole graded
17.25 g/t gold and 20.6 g/t gold respectively (news release April 9,
2010). This extension hole will also undercut EXD003 located to the
north, which encountered 1.31 g/t gold from 174.5 metres to the end of
hole at 220.5 metres (46 metres), including 11.78 g/t gold from 217 to
220.5 metres (3.5 metres) where it finished in high-grade gold
mineralization due to drill rig limitations. The penultimate 1.25
metre interval graded 30.37 g/t gold (news release September 21, 2010).
This extension hole is being drilled with a 500-metres depth capacity
rig.
East Asia has
Diamond 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 more than 95% of
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. Recent sampling east of the Miwah Main
Zone in the East Block M area has potentially expanded the east-west
width another 400 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 75,655,872 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 Thu Oct 21, 2010 at 5:45:37 AM Pacific Time
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