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Re: News Releases - Tuesday, October 16, 2007
East Asia Minerals Intercepts 95 Metres of 2.15 g/t Gold at the
Bawone Prospect, Indonesia
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For Immediate release, October 16, 2007 TSXV: EAS
VANCOUVER, B.C. -- Tuesday, October 16, 2007 -- East Asia Minerals
Corporation (TSXV-EAS) is pleased to announce assay results from the
first three holes of its ongoing drill program at the epithermal Bawone
Prospect, Sangihe Island, Indonesia. These results indicate the
presence of a potentially significant, near surface gold mineralized
zone grading approximately 2 g/t gold and up to 80 metres wide.
Previous scout drilling and geophysics conducted during the 1980's
indicated that the Bawone mineralization extended for at least 450
metres, but was open along strike. East Asia's trenching and geological
work has extended the known strike length of mineralization
considerably, whilst the current drilling has indicated that the
mineralized zone is much wider than previously thought.
Assay Highlights
Preliminary assay results have been received for drill holes BOD-01,
BOD-02 and BOD-03. The weighted average results are as follows:
Drill Hole From (m) To (m) Interval (m) Gold (g/t) Silver (g/t) Copper
(%)
BOD-01 30.0 125.0 95.0 2.15 11.0 0.41
Including 31.0 81.0 50.0 3.32 17.0 0.69
Including 32.0 40.0 8.0 8.81 62.0 1.15
BOD-02 59.0 70.0 11.0 0.93 14.0 0.61
BOD-03 19.0 144.0 125.0 1.67 10.0 0.35
Including 21.0 44.0 23.0 2.06 11.0 0.38
And 59.0 103.0 44.0 2.29 16.0 0.50
BOD-01 was drilled to 144 metres and is located in the centre of the
Bawone prospect (refer to the Company's website at www.EAminerals.com
for a plan view of drilling). The hole was collared close to, and
drilled with a north-easterly azimuth parallel to a historic drill hole
which reported 91.3 metres of 2.45 g/t gold. BOD-01 assay results have
verified the gold values in the historic drill hole. The slightly lower
average gold grade is interpreted to be due to a combination of
different gold analysis methods, a low bias for gold results in the
batch submitted (although this was not outside of allowable QA/QC
limits for the inserted certified control standards), difference in
core recoveries and core size (HQ versus NQ), and a slightly longer
composite grade interval.
The highest grade zone of 8 metres of 8.81 g/t gold, 62.0 g/t silver
and 1.15% copper is from massive, fine grained black sulphide
consisting of pyrite, enargite, chalcocite and arsenian pyrite. The
interval of 50 metres of 3.32 g/t gold, 17.0 g/t silver and 0.69%
copper is hosted by silica - clay - pyrite altered andesite crystal
tuff with stockworks of barite -- quartz -- black sulphide. The
underlying barren zone consists of chlorite -- clay -- carbonate --
minor pyrite altered porphyritic andesite.
BOD-3, a scissor hole, was drilled to 178 metres with a south-westerly
azimuth. The hole is located about 55 metres to the northeast of
BOD-01, and at a lower elevation. Results from this drill hole, which
include higher grade sections of 23 metres of 2.06 g/t gold, 11.0 g/t
silver and 0.38% copper, and 44 metres of 2.29 g/t gold, 16.0 g/t
silver and 0.5% copper, demonstrate that the gold mineralized zone has
a true width of approximately 80 metres. This is much wider than
previously speculated. The host rock is andesite crystal -- lithic tuff
with pervasive variable silica -- clay -- sulphide alteration
overprinted by patches and stockworks of barite -- silica -- clay --
sulphide, grading to strong hydro- brecciation with silica -- barite --
clay -- sulphide matrix. The bottom of mineralization is weakly clay --
minor pyrite altered flow laminated dacite.
BOD-02 was drilled to 85 metres on a section 80 metres southeast of the
BOD-01-03 section. This hole was located 45 metres northeast of a
historic drill hole which reported a 20.2 metre interval of 3.97 g/t
gold and 0.47% copper from 21.8 metres down hole. Results from BOD-02
are consistent with peripheral grades intersected in BOD-01 and BOD-03.
Our current interpretation, supported by geophysics, is that the main
mineralized body lies immediately to the southwest of the historic
hole. A drill hole to target this zone will commence soon.
"We are greatly encouraged by the width and tenor of the Bawone
mineralization", stated Michael Hawkins, President and CEO of EAS. "The
gold mineralization we intercepted was extremely consistent over great
widths, and we are very pleased to report such significant intercepts
so early in our program. Previous explorers had indicated potential for
the Bawone and nearby Binebase projects to host up to 2 million ounces
of gold, and it is our intention to test these zones over the coming
months, and with success, to progress towards drill definition of
43-101 compliant resources".
Samples reported were assayed at PT SGS Indoassay (SGS Group) in
Balikpapan. East Asia Minerals conducts a rigorous and continuous
QA/QC program. Lionel Martin, P.Geo, the designated QP within the
meaning of 43-101 has reviewed and approves the content of this
release.
About East Asia Minerals Corporation
East Asia Minerals is an Asian-based, Canadian mineral exploration
company with uranium, gold and copper assets in Mongolia and Indonesia.
The Company owns the Ingiin-Nars, Ulaan Nuur and Enger uranium
properties and a 75% interest in the Khok Adar copper oxide discovery
in Mongolia. In Indonesia, it has a 70 to 85% interest in five
advanced gold and gold-copper projects located in Aceh Province in
Sumatra and North Sulawesi. East Asia currently has 48,047,832 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 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.
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: +1-778-997-2183
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) 2007 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 Oct 16, 2007 at 5:30:33 AM Pacific Time
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