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Re: News Releases - Tuesday, July 07, 2009
East Asia Minerals Updates High-Grade South Miwah Bluff Gold
Discovery; 83.59 g/t Gold Over 24 Metres in Rock Sawn Channel
Sampling
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For Immediate release, July 7, 2009 TSXV: EAS
VANCOUVER, B.C. -- Tuesday, July 7, 2009 -- East Asia Minerals
Corporation (TSXV-EAS) reports that ongoing exploration of the recently
discovered South Miwah Bluff Gold Zone has exposed additional
high-grade gold, and continues to expand the Company's flagship Miwah
Gold Project in Aceh Province, Northern Sumatra. The Company also
announces that drilling is underway to test the full strike length of
the main Miwah Gold Zone, having commenced at the western extreme.
Results have been received for 154 rock sawn channel samples from South
Miwah Bluff, and include 83.59 g/t gold over 24 metres, 20.14 g/t gold
over 12 metres, and 9.21 g/t gold over 7 metres. Detailed follow-up is
ongoing to the north and south along strike of the high-grade exposure
where several gold-rich channels including 125.9 g/t gold over 23
metres and 19.15 g/t gold over 8 metres were recently discovered by EAS
(news release June 3, 2009). These efforts are designed to establish
the connection between the main Miwah Gold Zone and this new discovery,
and to determine the mineralization boundaries. Additional coherent and
detached altered / mineralized bodies have been outlined between the
main Miwah Gold Zone and the new high-grade gold discovery.
Miwah Update
Simultaneous to the drill program, geological teams are continuing with
sampling of the main Miwah Gold Zone, regionally in areas such as the
highly prospective Sipopok Gold Zone 1.5 kilometres to the NNE, and in
areas where mapping and sampling have defined direct extensions to the
Miwah Gold Zone. Assays results from an additional 154 (generally
one-metre long, half BQ core size) rock sawn channel samples have been
received for the new South Miwah Bluff feeder zone.
Channel Sample Highlights:
South Miwah Bluff Zone Length (metres) Gold (g/t)
*Trench (RO) 154 8.00 4.97
*Trench (RO) 158 23.00 125.84
*Trench (RO) 159 9.00 4.79
*Trench (RO) 160 8.00 19.15
Trench (RC) 163 24.00 83.59
Trench (RC) 166 12.00 20.14
Trench (RC) 170 7.00 6.12
Trench (RC) 171 5.00 6.88
Trench (RC) 172 7.00 9.21
Trench (RC) 189 10.00 6.78
* Trenches 154 and 158 to 160 are previously reported rock chip
channels. All other trench results are rock sawn channels.
** Trench 163 (RC) comprises rock sawn channel sample follow-up to
Trench (RO) 158. All other trenches are in new areas (refer to map on
Company's website at www.EAminerals.com).
The main South Miwah Bluff feeder structure occurs as a southwesterly
extension to the high-grade structure mapped at the western area of the
Miwah Gold Zone, which is currently being drill tested. At least four
main north to northeast trending mineralized/altered boulder trails
have been mapped and sampled within a 360 metres long by 240 metres
wide zone connecting with the main Miwah mineralization. The full
extent is yet to be delineated. Similar to the main Miwah Gold Zone the
dominant alteration is vuggy, sugary and massive silica, with moderate
to strong oxidization. The boulder trails are interpreted to represent
detached blocks of underlying outcrop.
Within this zone the high-grade gold occurs in outcrop covering 100
metres by 280 metres at the structural intersection of two principal
trends running north-northeast and east-west. The gold-bearing bodies
are more extensive due to vertical and lateral development, with a high
likelihood for the lateral component merging to form a continuous
mineralized body. Whilst the mineralization remains open to the south,
the current program is also investigating a possible extension of the
South Miwah Bluff hydrothermal breccia to the north of the main Miwah
Gold Zone.
The discovery of South Miwah Bluff has opened up the southwest portion
of Miwah Gold Zone and expanded the potential of this large gold
system. In addition to drilling of the main Miwah Gold Zone, ongoing
exploration will define drill targets within the new discovery for
testing during the current program.
Drilling has commenced with the second hole (EMD 002) progressing well.
The initial program will comprise 10 holes for a total of 2,000 metres
to provide a 3D validation along the currently defined 1,200 metre
strike of the Miwah gold-bearing silica zone, exposed along the Miwah
ridge and open to the west. This program will provide a further
indication of the gold resource potential and the framework for
follow-up drilling. Initial drill results from the program are expected
late-July/August.
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. However,
ongoing sampling verifies 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. In addition to the tabular
zone the Company has begun to characterize some of the feeder zones,
with channel samples including 125.9 g/t gold over 23 metres and 19.15
g/t gold over 8 metres. These feeder zones have great potential to
develop into substantial tonnages of higher grade gold mineralization.
Miwah demonstrates many features of the shallow part of a high-level
high sulphidation epithermal gold system, including intense acid
leaching, structural and lithological permeability controls to fracture
fed mineralizing fluids, presence of structurally-controlled
hydrothermal and phreatic breccias, disseminated mineralization of
gold-silver greater than copper, and the elemental association of As,
Sb, Bi, Ba, S and Te.
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).
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
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.
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 Tue Jul 7, 2009 at 8:08:54 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 TAKENGON, BARISAN 2 PORPHYRY PROJECTS, TANGSE, SANGIHE, ABONG, MIWAH, UPPER TENKERENG and BARISAN in Indonesia and ENGER, KHOK ADAR, ULAAN NUUR and INGIIN-NARS in Mongolia. 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. |