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Re: News Releases - Thursday, March 04, 2010
East Asia Minerals Intercepts New Zone Grading 1.68 g/t Gold Over
24 Metres Within 60.5 Metres Grading 1 g/t Gold,
Stratigraphically Below 116 Metres Grading 2.18 g/t Gold in Miwah
Main Zone
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For Immediate Release, March 4, 2010 TSXV: EAS
VANCOUVER, B.C. -- Thursday, March 4, 2010 -- East Asia Minerals
Corporation (TSXV-EAS) announces that it has received significant gold
assays from a recently discovered horizon underlying the Miwah Main
Zone in Aceh Province, Northern Sumatra, Indonesia. In this lower
horizon, EMD018 encountered 1 g/t gold over 60.5 metres including 1.68
g/t gold over 24 metres. In the overlying Miwah Main Zone, EMD018 had
encountered 2.18 g/t gold over 116 metres, including 3.28 g/t gold over
61 metres. This drilling has extended the gold zone further to the
north where it remains open. East Asia has validated the 1.2 kilometre
east-west width of the shallow, laterally extensive Main Miwah Gold
Zone, and has encountered gold mineralization in all of its holes. The
Main Miwah Gold Zone remains open in all directions with the Moon River
area expanding the north-south potential from 400 metres to more than
600 metres, whilst remaining open further to the north towards Sipopok.
EMD018 was drilled with a due north azimuth and 30 degree dip to test
the area north of EMD001/002/003 where 1.71 g/t gold over 158.0 metres,
including 3.29 g/t gold over 66.0 metres; and 2.25 g/t gold over 142.9
metres, including 4.31 g/t gold over 51.0 metres were encountered by
the Phase One drill campaign. The hole was completed at 304 metres
downhole depth and extended the favourable silica alteration 260 metres
to the north of EMD001/002/003 where it remains open. Gold grading
2.18 g/t was encountered from 39.0 to 155.0 metres downhole depth,
including 3.28 g/t gold from 39.0 to 100.0 metres (reported March 2,
2010). Of added significance is that the main mineralized body is
underlain by a newly recognized secondary zone of intermittent
massive/vuggy silica and alunite alteration that grades 1 g/t gold from
239.0 to 299.5 metres, including 1.68 g/t gold from 239.0 to 263.0
metres. This is interpreted to represent a stratiform layer underlying
the laterally extensive Main Miwah Gold Zone. Further work will
determine the nature and potential upside of this gold mineralization.
The mineralization in EMD018 is open in all directions and at depth,
and is interpreted to be contiguous to the southwest towards EMD003, to
the northeast towards EMD017, and north past EMD019.
Strong gold assays for EMD019 and EMD020 have been reported (February
17 and March 2, 2010), including 4.08 g/t from 82 to 163 metres
downhole depth, with 9.29 g/t gold from 90 to 111 metres. Assays are
pending for EMD021.
EMD022 is testing the area immediately south of EMD001/002/003/018 and
entered visually altered and mineralized rock at 5.7 metres depth.
EMD023 is testing the extension north from the high-grade gold
mineralization encountered by EMD018 and EMD019, as well as testing the
recently discovered underlying massive/vuggy silica layer in EMD018.
(Refer to drill location map at www.EAminerals.com).
Miwah Background
The Miwah Gold Prospect was partially defined by approximately 3,100
metres of drilling in twelve holes by a previous explorer in 1997. All
holes drilled during this program intersected significant alteration
and mineralization with intercepts including 71 metres of 1.4 g/t gold
and 58 metres of 1.1 g/t gold. The previous explorer suggested
potential for 100 Mt at 1.1 to 1.2 g/t gold, however a review of the
historical data indicates that early drilling was parallel to higher
grade (greater than 5 g/t gold) structures at surface. Hence, in
addition to greater mineralized tonnage, significantly higher overall
grades are anticipated from better geological understanding, results of
the Company's detailed sampling, and properly oriented drill holes.
Based on the Company's work Miwah is resolving into two components; a
large 1,200 metre long, at least 300 to 400 metre wide, approximately
200 metre thick tabular zone; and vertical diatreme breccia feeder
zones that are beneath and cut through this. At Miwah Gold Zones, East
Asia has almost 2,500 metres of rock sawn channel samples which average
2.35 g/t gold. Grade expectations in Main Miwah Gold Zone exceed 1.5
g/t gold. Ongoing sampling verified the Company's confidence that
higher overall gold grades can be achieved due to the presence of
multiple high grade rock sawn channel samples throughout the strike,
including 4.11 g/t gold over 200 metres at the eastern part of the Main
Miwah Gold Zone, and 4.35 g/t gold over 27 metres at the western part.
Recent drilling has supported this. In addition to the tabular zone
the Company has begun to characterize some of the diatreme breccia
feeder zones, with rock sawn channel samples including 83.59 g/t gold
over 24 metres and 20.14 g/t gold over 12 metres. Recent drilling has
supported this. These feeder zones have great potential to develop
into substantial tonnages of higher grade gold mineralization in an
area adjacent to the Main Miwah Gold Zone.
The Miwah Property is in a very similar volcanic setting to the Martabe
gold-silver deposit, also located in North Sumatra (Purnama and Baskara
resources: 127.8 million tonnes at 1.4 g/t gold (5.5 million ounces
gold) and 15 g/t silver (60 million ounces silver), and the alteration
system is of a comparable size. Miwah also exhibits a likeness to the
size, style and geometry of the alteration system developed at the
Pierina gold deposit in Peru (67.7 Mt grading 2.98 g/t gold and 22 g/t
silver, giving a total 6.49 million ounces gold and 47.9 million ounces
silver).
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 resource
references and is not treating them as NI 43-101 defined resources
verified by a QP. Although the references of resources are relevant to
recognizing the potential of the Miwah project, they 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 71,455,372 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.
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: +1-604-684-2183 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 Thu Mar 4, 2010 at 5:13:07 AM Pacific Time
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East Asia Minerals Corporation
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EXPLORATION STAGE |
CODE : EAS.V |
ISIN : CA2705411056 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
East Asia Minerals is a gold and silver exploration company based in Canada. East Asia Minerals holds various exploration projects in Indonesia. Its main exploration properties are KHOK ADAR, ENGER, ULAAN NUUR and INGIIN-NARS in Mongolia and TANGSE, TAKENGON, BARISAN 2 PORPHYRY PROJECTS, ABONG, SANGIHE, MIWAH, UPPER TENKERENG and BARISAN in Indonesia. East Asia Minerals is listed in Canada and in Germany. Its market capitalisation is CA$ 8.3 millions as of today (US$ 6.3 millions, € 5.3 millions). Its stock quote reached its highest recent level on May 14, 2010 at CA$ 8.73, and its lowest recent point on January 01, 2016 at CA$ 0.01. East Asia Minerals has 53 790 000 shares outstanding. |