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Re: News Releases - Wednesday, September 15, 2010
East Asia Intercepts 0.5 g/t Gold, 0.22% Copper Over 128 Metres,
Within 499.7 Metres Grading 0.26 g/t Gold, 0.11% Copper in Second
Hole at Lower Tengkereng Project
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For Immediate Release, September 15, 2010 TSXV: EAS
VANCOUVER, B.C. -- Wednesday, September 15, 2010 -- East Asia Minerals
Corporation (TSXV-EAS) announces that its second
Diamond drill hole at
the Lower Tengkereng project further confirms the presence of a
significant gold-copper porphyry system within the Company's highly
prospective Barisan porphyry belt, Aceh Province, Indonesia. LTD002A
encountered 0.26 g/t gold, 0.11% copper over 499.7 metres, including
0.5 g/t gold, 0.22% copper over 128 metres. The hole was stopped in
mineralization at 499.7 metres due to drill rig limitations. A third
drill hole at Lower Tengkereng will follow.
As a grade comparison the Company notes that the Batu Hijau deposit in
Indonesia contains 914 million tons of ore at an average grade of 0.40
g/t gold (366 tons gold) and 0.53% copper (4.8. million tons copper).
In addition to similar gold grades as Batua Hijau, the Company also
notes analogies to the Chilean Maricunga Belt where some of the best
documented porphyry gold and gold-copper systems occur. Gold grades
can be exceptional as in the case of Lobo -- Marte in the north of the
Maricunga Belt, ranging to very good in the south at Caspiche
(indicated resource of 785MT at 0.57g/t gold, 0.20% copper, and
inferred resource of 685MT at 0.45g/t gold, 0.25% copper) where there
are similar grades as at Lower and Upper Tengkereng. Of note is that
this is a mineralized belt and there is a suggestion that the increase
in gold grade has a vector, in the case of Maricunga, to the north.
This could also be the case for East Asia Minerals' Barisan Belt where
there are gold-rich epithermals to the northwest such as at Abong.
"Drilling to date at the Tengkereng project suggests that we are
largely on the periphery of a porphyry gold-copper deposit, although we
are encountering higher grades outside the effects of the advanced
argillic overprint," commented Michael Hawkins, President and CEO of
East Asia Minerals. "Our results correlate well with the historic
numbers and this indicates to us that the historic lab was functioning
well during this particular period of analyses, adding to the relevance
of this older data. The main alteration style we intersected is silica
-- illite/sericite -- pyrite with moderate to good (5-7%) porphyry
style sugary quartz veining, with the appearance of trace amounts of
chalcopyrite and lesser bornite within the quartz veins. Remnant zones
of silica - magnetite / specularite -- chlorite -- sericite -- pyrite
with 1% chalcopyrite and trace bornite in veins suggests that we are
within the retrograde phyllic alteration halo to original potassic
zones with an upper zone of supergene advanced argillic (silica --
alunite -- clay)."
LTD002A, completed at 499.7 metres, was drilled with a 125 degree
azimuth and 60 degree dip to test east from drill hole LTD001 in which
East Asia Minerals 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.
LTD001 was stopped at 415.1 metres due to poor drilling conditions.
The LTD002A target included a ground magnetic high to the east of
LTD001, as well as favourable surface geology, geochemistry and drill
results from historic drilling.
LTD002A encountered andesite cover rock to 47.7 metres, followed by
diorite porphyry to the end of hole. With depth the porphyry
alteration generally grades from advanced argillic, to
quartz-sericite--illite--pyrite, to phyllic and
quartz-sericite-illite-pyrite, and finally to propylitic with
structurally controlled phyllic overprint. Quartz veining increases
from 2% to 10% with depth to 427 metres, beneath which it averages 1 to
2%. From 75.8 to 189.3 metres, mineralization generally comprises 0.2%
chalcopyrite, 0.2% chalcocite and 5 to 10% pyrite; and increases to
0.5% chalcopyrite, trace chalcocite-covellite and 10% pyrite from 189.3
to 427 metres. From 427 metres to the end of hole, mineralization
comprises 5% pyrite, 0.2% chalcopyrite and 1% magnetite.
Hole Number From (m) To (m) Interval (m) Gold (g/t) Copper (%)
LTD-002A 0.00 499.7 499.7 0.26 0.11
Including 134.0 262.0 128.0 0.50 0.22
And 176.0 262.0 86.0 0.56 0.23
LTD003 is planned with a 35 degree azimuth and 70 degree dip, and will
be drilled from a lower elevation that will in effect provide an
additional 100 plus meters of depth penetration beneath LTD001/002A.
Based on current data, the gold-copper grade vectors appear to improve
beneath LTD001/002A. This hole will commence the week of September 20
following the Lebaran (Idul Fitri) holiday season. (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.
East Asia has not verified the classification of the reserve/resource
references and is not treating them as NI 43-101 defined
reserves/resources verified by a QP. Although the reference of
reserves/resources is relevant to recognizing the potential of the
Tengkereng project, it 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
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 Wed Sep 15, 2010 at 5:59:37 AM Pacific Time
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