East Asia Minerals Intercepts 690.9 Metres of 0.4 g/t Gold, 0.3%
Copper at Upper Tengkereng
Porphyry; Grade Increases With Depth
and Hole Bottoms in 58.9 Metres
of 1.2 g/t Gold and 0.5% Copper
=======================================================================
East Asia Minerals Corporation (TSXV-EAS) announces results from its second
diamond drill
hole at the Upper Tengkereng project, supporting the
potential for a
large and well-mineralized porphyry system and displaying
characteristics of some of the world's more important gold-copper
deposits. Upper Tengkereng is one of six
gold-copper porphyry projects
being advanced within the Company's highly prospective Barisan
porphyry
belt, Aceh Province, Indonesia. Drill hole UTD002 expands on the
significant gold and copper porphyry mineralization intersected by the
Company's previous and first hole at Upper Tengkereng.
UTD002
encountered 0.39 g/t gold, 0.30% copper over the full 690.9 metres
length of hole, including 0.36 g/t gold, 0.71% copper over 90 metres in
the upper portion of the hole, and 1.17 g/t gold, 0.48% copper over
58.9 metres at the end of hole. The hole was
stopped at 696.9 metres
in high-grade mineralization due to excessive drill hole
cave-in. The
drill rig is being moved to the Company's Upper Ise-Ise
gold-copper
porphyry project located approximately 3 kilometres
northeast of the
Upper Tengkereng target area.
UTD002 was drilled with a 50 degree azimuth and 60 degree dip to test
east of previous hole UTD001A (news release December 1, 2008) where
recently mapped 5 to 10% quartz stockwork veining by
volume, within
advanced argillic alteration and coincident
gold-copper surface
geochemistry, indicates an improvement in mineralization. The presence
of marbleized limestone further east suggests potential for a porphyry
heat source at depth. UTD002 was cemented to support the poor ground
conditions between 427 and 479 metres, however, it was ultimately
stopped at 696.9 metres due to repeated blockage in
clay and collapsed
cement fragments. The Company notes it encountered similar
difficulties and lost drill string with previous hole
UTD001A.
The host rock is diorite porphyry. From surface to 120 metres the
alteration is predominantly argillic, followed by QIP
(quartz-illite-pyrite) to 378.6 metres.
From 378.6 to 515.5 the
porphyry is a mixture of phyllic and argillic altered intervals,
followed by a predominance of phyllic alteration from
515.5 to 696.9
metres (end of hole). A post-mineral dyke was
intersected from 596 to
636 metres (40 metres).
Quartz vein density is significant throughout and typically ranges from
5% to 30%. Increased sulphide content
correlates well with increased
quartz vein density. The sulphide minerals
generally occur both within
the quartz veins, as vug infill, and disseminated
throughout the wall
rock, and are frequently in the range of 0.2 to 0.7% chalcopyrite, 0.3
to 0.6% covellite, trace to 0.5% chalcocite,
and 5 to 10% pyrite.
Hole Number From (m) To (m) Interval (m) Gold (g/t)
Copper (%) Copper
Equiv. (%)
UTD-002 6.0 696.9 690.9 0.39 0.30 0.53
Including 6.0 120.0 114.0 0.41 0.19 0.43
And 172.0 340.0 168.0 0.28 0.57 0.73
Including 250.0 340.0 90.0 0.36 0.71 0.92
And 380.0 436.0 56.0 0.66 0.20 0.59
And 576.0 596.0 20.0 0.87 0.26 0.77
And 638.0 696.9 58.9 1.17 0.48 1.16
Including 638.0 678.0 40.0 1.46 0.48 1.33
* The copper equivalent uses a gold to copper ratio of 1:0.585 (1 gm
gold = 0.585% copper); based on long-term prices of $2.25 per pound
copper and $900 per ounce gold, assuming total recoveries of both
metals.
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.
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, and news releases of August 10 and September 15, 2010 for
drilling of the Lower Tengkereng project, drilled
approximately 1.5
kilometres away from Lower Tengkereng.
The initial hole at Upper
Tengkereng (UTD001A) 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 seven uranium
properties, including the advanced Ingiin-Nars, Ulaan Nuur and Enger
uranium projects, and two phosphate properties in Mongolia. East Asia
currently has 76,040,872 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
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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