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Re: News Releases - Tuesday, August 03, 2010
East Asia Minerals Intercepts Favourable Alteration and
Mineralization at Lower Tengkereng Gold-Copper Porphyry Project;
Ends in Mineralization
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For Immediate Release, August 3, 2010 TSXV: EAS
VANCOUVER, B.C. -- Tuesday, August 3, 2010 -- East Asia Minerals
Corporation (TSXV-EAS) announces that its first
Diamond drill hole at
the Lower Tengkereng gold-copper project confirms the presence of a
significant altered and mineralized porphyry system within the
Company's highly prospective Barisan porphyry belt, Aceh Province,
Indonesia. The entire 417 metre hole was drilled within and ended in
altered and mineralized porphyry. Assays are pending.
"We are very encouraged by the results received from the first drill
hole in our Lower Tengkereng porphyry project", commented Michael
Hawkins, President and CEO of East Asia Minerals Corporation. "Although
assays are pending, the drill core validates our belief that the
Barisan porphyry belt represents an important mineralization system
with multiple targets and porphyry centres. We remain confident of
being able to continue demonstrating that our porphyry portfolio has
great potential to add significant value to our Company."
LTD001 was drilled with a due south azimuth and 60 degree dip to test
for gold-copper mineralization at the Lower Tengkereng porphyry. The
hole was abandoned in mineralization at 417.4 metres due to hole
collapse, however, sufficient altered porphyry was intersected to
confirm the importance of this project.
LTD001 returned classic porphyry alteration and mineralization 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).
LTD002 has commenced with a 125 azimuth and 60 degree dip to continue
testing alteration and 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 (Refer to drill location map at
www.EAminerals.com).
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). At the Lower and Upper Tengkereng Prospect
areas two windows of similar porphyry gold-copper mineralization,
located about 1.5 kilometres apart, are exposed through shallow
volcanic cover rocks and may be linked at depth.
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 alteration and 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
mineralization distribution;
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.
Lionel Martin, P.Geo., the designated QP within the meaning of NI
43-101, has reviewed and approves the content of this release.
On the corporate front, East Asia Minerals directs interested readers
to its website (www.EAminerals.com) where it has added a discussion of
the overall positive nature of Indonesia, and in particular Aceh
Province, for investment. This discussion is under the Indonesian
section and located at Projects > Indonesia > Overview.
In commenting on the investment climate in Indonesia, Michael Hawkins,
President and CEO of East Asia Minerals, states that "Indonesia is
possibly one of few countries in the world where conditions for mining
investment are arguably improving, rather than deteriorating. Whilst
as discussed on the website Indonesia is not without challenges, the
Company notes that overlapping laws and regulations are not unique to
Indonesia. Every project in the world is confronted by a broad range
of potential challenges such as environmental, Indigenous peoples,
competing land use (such as agriculture), social, NGOs, etc., and the
Company notes that there have been potential mines in supposedly
low-risk jurisdictions such as Canada that have not gone forward
because of "local" resistance. It is more important to note that
Indonesia is mining friendly, with a process and a path forward in
place for exploration and mine development. Additionally the Company
believes it is very important to engage proactively, in a confidential
and sensitive way, all potential stakeholders in the areas where it
works. In these matters, and with a strong Indonesian experience base,
the Board of Directors and Senior Management are confident that the
Company is progressing well."
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 3, 2010 at 5:50:13 AM Pacific Time
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