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Re: News Releases - Monday, April 26, 2010
East Asia Minerals Corporation: New Signal Area Yields 6.8 g/t
Gold and Significantly Expands West Extension Potential of Miwah;
Drilling Encounters 250 Metre Vuggy Silica Interval
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For Immediate Release, April 26, 2010 TSXV: EAS
VANCOUVER, B.C. -- Monday, April 26, 2010 -- East Asia Minerals
Corporation (TSXV-EAS) is pleased to report that as part of continuing
exploration of the prolific Miwah Gold Property it has identified new
gold mineralized samples from the Signal area, a discovery of
favourable massive and vuggy silica exposed in erosional window
outcrops extending up to 600 metres west of EMD024 (3.96 g/t gold over
111 metres, including 15.74 g/t gold over 22 metres). This area expands
the east-west extent of the Miwah Main Zone from 1,200 metres to
potentially 1,800 metres, and remains open to the west. Recent
drilling results include EMD026 which encountered and ended in
favourable vuggy and massive silica alteration over a 250 metre
interval, with the last 18 metres being similar to the high-grade host
at the end of EMD024.
Mapping and sampling at the Signal area discovered new and important
gold mineralization based on increased geological understanding. EAS
field crews discovered favourable massive and vuggy silica in outcrops
extending up to 600 metres west of EMD024, reinforcing the model that
the mineralized silica zone extends under cover for another 600 metres
further west of the current Miwah Bluff outcrops and drilling. Initial
chip samples in this area have returned values up to 6.8 g/t gold, and
channels of 1.3 g/t gold over 14 metres. Combined with the similarity
of host rock and alteration to the Miwah Main Zone, it is believed that
the Signal area represents potential to greatly expand the east-west
continuity of the gold mineralization. Several assays from the initial
sampling are pending, and detailed follow-up including rock sawn
channel sampling is planned. (Refer to April 26, 2010 Miwah Gold
Channel Sample Map with Moon River and Signal Areas at
www.EAminerals.com).
East Asia has drill validated the 1.2 kilometre east-west outcropping
width of the shallow, laterally extensive Miwah Main Zone, and has
encountered gold mineralization in all of its holes. The Miwah Main
Zone remains open in all directions with the Moon River area expanding
the north-south potential to more than 600 metres, whilst remaining
open further to the north towards Sipopok. Drilling has extended the
Miwah Main Zone towards a similar northing as Moon River. Sampling
west of the Miwah Main Zone in the Signal area has potentially expanded
the east-west width another 600 metres and remains open.
EMD025 was drilled with a due west azimuth and 55 degree dip, to test
west from EMD024 towards the recently discovered Signal area. The hole
was completed at 210 metres downhole depth. This is the furthest west
the Company has drilled the open northern area of the Miwah Main Zone
to date. Commencing at 87.8 metres depth the hole encountered multiple
zones of visually altered and mineralized rock to 206.6 metres. Assays
are pending.
EMD026 was drilled with a 310 degree azimuth and 50 degree dip,
targeting the extension of silicification north and east of the Miwah
Bluff portion of the Miwah Main Zone. It is a north-westerly step out
from EMD014, drilled towards high-grade hole EMD024, and was completed
at 354.7 metres downhole depth. The hole encountered visually altered
and mineralized rock from 104 metres to the end of hole. Strong vuggy
and massive silica alteration with mineralogy visually similar to the
high-grade host at the end of EMD024 was encountered over the last 18.2
metres. Assays are pending.
EMD027 was drilled with a due south azimuth and 55 degree dip, to
confirm thickness and test for gold grade variation in the high-grade
vuggy silicification between EMD023 and EMD024. The hole was completed
at 200 metres downhole depth and encountered visually altered and
mineralized rock from 25 to 190 metres. Assays are pending.
EMD028 is being drilled with a due east azimuth and 30 degree dip to
test for the extension of alteration and mineralization from
EMD018/019. It is located 130 metres west from section EMD018/019 and
is progressing well, having encountered visually altered and
mineralized rock from 58 metres downhole depth.
EMD029 has just commenced and is being drilled with a due south azimuth
and 60 degree dip to test for the extension of alteration and
mineralization from high-grade hole EMD024. It is a 200 metres north
step-out from EMD024. (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 Mon Apr 26, 2010 at 6:14:22 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. |