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Re: News Releases - Tuesday, August 10, 2010
East Asia Intercepts 0.4 g/t Gold, 0.2% Copper Over 415.1 Metres,
Ending in 0.5 g/t Gold, 0.2% Copper Over 279.4 Metres at Lower
Tengkereng Porphyry Project
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For Immediate Release, August 10, 2010 TSXV: EAS
VANCOUVER, B.C. -- Tuesday, August 10, 2010 -- East Asia Minerals
Corporation (TSXV-EAS) announces that its first
Diamond drill hole at
the Lower Tengkereng project confirms the presence of a significant
gold-copper porphyry system within the Company's highly prospective
Barisan porphyry belt, Aceh Province, Indonesia. LTD001 encountered
0.39 g/t gold, 0.18% copper over 415.1 metres, including 0.49 g/t gold,
0.22% copper over 279.4 metres where the hole was stopped due to poor
drilling conditions. Additional drilling of Lower Tengkereng is in
progress.
LTD001 was drilled with a due south azimuth and 60 degree dip. The
hole was abandoned in mineralization at 417.4 metres due to hole
collapse, however, sufficient mineralized porphyry was intersected to
confirm the importance of this project. In addition, the overall gold
grade and degree of favourable alteration intersected increases with
depth. The results validate to the Company that the Barisan porphyry
belt represents an important gold-copper system with multiple targets
and porphyry centres.
LTD001 returned primary gold-copper intersections beneath coincident
gold-copper surface geochemistry and magnetic anomalies associated with
porphyry style alteration. The host rock is diorite. Alteration is
predominantly quartz-alunite-clay-iron oxides with 1 to 5% quartz
veining from 1 to 97 metres, quartz--illite-sericite-pyrite with 2 to
8% quartz veining containing variably oxidized pyrite +/- chalcocite
veining from 97 to 210 metres, and quartz-illite-sericite-pyrite with 1
to 10% quartz veining containing un-oxidized pyrite-magnetite +/-
chalcocite +/- chalcopyrite +/- bornite +/- molybdenite from 210 to
417.4 metres (end of hole).
Hole Number From (m) To (m) Interval (m) Gold (g/t) Copper (%)
LTD-001 2.3 417.4 415.1 0.39 0.18
Including 90.0 417.4 327.4 0.45 0.23
And 138.0 417.4 279.4 0.49 0.22
LTD002 was drilled with a 125 azimuth and 60 degree dip to continue
testing for gold-copper mineralization at the Lower Tengkereng
porphyry. The target includes a ground magnetic high to the southeast
of LTD001, as well as favourable surface geology, geochemistry and
drill results from nearby historic drilling. The hole was stopped at
180 metres depth in altered diorite porphyry due to drill string
problems, and replaced by LTD002A.
Replacement hole LTD002A is progressing well with a 125 degree azimuth
and 60 degree dip, targeting the same area as abandoned LTD002.
LTD002A encountered andesite cover rock to 48 metres, with
illite/clay-alunite-minor silica and iron oxide alteration, and 2 to 5%
quartz veining. From 48 to 84 metres the host rock is
illite/clay-pyrite altered quartz diorite porphyry with 1 to 3% quartz
veining and fracture oxidation. This is followed to the current depth
of 217 metres by silica-illite/sericite-pyrite altered diorite
porphyry. In addition to 1 to 5% pyrite, the diorite porphyry contains
minor chalcocite and up to 3% quartz veining with minor fracture
oxidation to 154 metres, followed by minor magnetite alteration with 1
to 3% quartz veining and fracture oxidation to 180 metres, and minor
chalcopyrite with up to 10% quartz veining and fracture oxidation to
the current depth. (Refer to drill location map at
www.EAminerals.com).
The Company also refers the reader to the news release of December 1,
2008, for the announcement of initial drilling at the Upper Tengkereng
project, drilled approximately 1.5 kilometres away from Lower
Tengkereng. At that time Upper Tengkereng was drilled due to ease of
access and encountered 646.25 metres averaging 0.39 g/t gold and 0.21%
copper, including a significant intersection of 268 metres of 0.57 g/t
gold and 0.26% copper. Significant near surface gold mineralization
was also intercepted, including 14 to 82 metres (68 metres) of 0.51 g/t
gold and 0.21% copper.
The Upper and Lower Tengkereng targets occur as two large outcrop areas
of similar porphyry gold-copper mineralization. The Company believes
Upper and Lower Tengkereng are possibly contiguous, and part of one
large system linked at depth, with the intervening area covered by
shallow inter-bedded sedimentary and volcanic rocks.
Barisan Porphyry Geological Setting
East Asia Minerals' Barisan tenements encompass a cluster of six known
porphyry centres within a 6.2 kilometre by 3 kilometre block (view map
at www.EAminerals.com). Geological features observed in drill core
from Lower and Upper Tengkereng confirm that this system shares many
features of the world's best gold-rich porphyry copper deposits in the
circum-Pacific rim. They include:
a) the association of gold-copper mineralization with composite
porphyry stocks emplaced into coeval andesitic volcanic rocks at
shallow levels;
b) association of K-silicate alteration at depth which has undergone
partial overprinting with advanced argillic and intermediate argillic
assemblages;
c) strong positive correlation between quartz vein density and gold and
copper distribution mainly represented by disseminated chalcopyrite and
bornite;
d) hydrothermal magnetite associated with quartz veining is common at
depth but appears to have been destroyed at higher elevations by
later-stage overprinting hydrothermal alteration;
e) the mineralized system is telescoped in which later stage vuggy,
banded epithermal quartz veins overprint early porphyry-style veins.
Photogeological interpretation of stereoscopic ASTER and PULSAR
satellite images of this region has identified additional porphyry
targets, demonstrating the high prospectivity of this mineralized belt.
These targets and the other known porphyry centers will be
systematically explored. 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.
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
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 Aug 10, 2010 at 9:08:16 AM Pacific Time
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