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Re: News Releases - Monday, June 02, 2008
East Asia Reports Strong Progress With Abong and Sangihe Drill
Programs, Including 3.60 g/t Gold Over 13.0 Metres and 2.69 g/t
Gold Over 17.0 Metres
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For Immediate release, June 2, 2008 TSXV: EAS
VANCOUVER, B.C. -- Monday, June 2, 2008 -- East Asia Minerals
Corporation (TSXV-EAS) reports that drill programs at its Abong and
Sangihe projects in Indonesia are progressing well towards the planned
year-end NI43-101 resource estimates. Drilling at the flat-lying,
near-surface Abong Jasperoid Prospect, Aceh Province continues to
produce gold-bearing intercepts including 3.60 g/t gold over 13.0
metres and 2.69 g/t gold over 17.0 metres. Additionally, drilling in
the northeast and south-central areas of the Binebase Prospect at the
Sangihe Property, North Sulawesi is defining the oxide gold outlines
for the extensive near-surface Binebase-Bawone epithermal gold
mineralization.
Abong Jasperoid Prospect
New Abong drill assays (for a complete assay listing refer to
www.EAminerals.com):
Drill Hole From (m) To (m) Interval (m) Gold (g/t)
ABD-33 6.0 8.0 2.0 0.74
And 13.0 18.0 5.0 0.31
ABD-34 13.0 30.0 17.0 2.69
Including 13.0 18.0 5.0 6.50
And 25.0 28.0 3.0 3.44
ABD-35 5.0 20.0 15.0 1.10
Including 8.0 15.0 7.0 1.87
ABD-36 -- -- -- none significant
ABD-37 25.0 38.0 13.0 3.60
Including 26.0 35.0 9.0 4.97
ABD-38 -- -- -- none significant
ABD-39 63.0 70.0 7.0 2.11
Including 63.0 67.0 4.0 3.25
Assays have been received for
Diamond drill holes ABD-33 to ABD-39 and
are highlighted by ABD-34 with 2.69 g/t gold over 17.0 metres,
including 6.50 g/t gold over 5.0 metres; ABD-35 with 1.10 g/t gold over
15.0 metres, including 1.87 g/t gold over 7.0 metres; ABD-37 with 3.60
g/t gold over 13.0 metres, including 4.97 g/t gold over 9.0 metres; and
ABD-39 with 2.11 g/t gold over 7.0 metres, including 3.25 g/t gold over
4.0 metres.
ABD-34 was drilled with an east-southeast azimuth to test across the
northeast trending Sinkhole lode intersected by ABD-03 (4.84 g/t gold
over 9.0 metres). ABD-34 intersected multiphase jasperiod and colloform
banded quartz-sulphide infill to 16 metres depth (11 metres true
width), verifying the tenor of gold grades in ABD-03, and demonstrating
the consistency of higher gold grades within the Sinkhole lode.
ABD-35 was drilled with an east-southeast azimuth to test across the
Korosesuk lode intersected by ABD-31 (1.26 g/t gold over 18.0 metres,
including 1.62 g/t gold over 10.0 metres). ABD-35 intersected similar
mineralization and quartz vein overprinted jasperiod as ABD-31,
demonstrating consistency of gold grades.
ABD-37 was collared 11 metres east of ABD-23 (2.80 g/t gold over 17.0
metres, including 4.14 g/t gold over 11.0 metres), south of the
Sinkhole lode, to test the potential for a feeder structure below the
high-grade ABD-23 gold mineralization. ABD-37 intersected the same
multiphase jasperiod gold mineralization as ABD-23. A zone of broken
un-mineralized limestone is interpreted to be the fluid feeder
structure.
ABD-39 was collared 75 metres north of ABD-06 (1.02 g/t gold over 17.0
metres, including 1.42 g/t gold over 10.0 metres) to test the
interpreted extension of the Korosesuk lode. ABD-39 intersected the
projected multiphase jasperiod alteration and returned expected results
of 2.11 g/t gold over 7.0 metres, including 3.25 g/t gold over 4.0
metres.
Resource stage exploration drilling remains focused along the 3 x 1.5
kilometre Abong Corridor, where epithermal gold mineralization is
controlled by late-stage open space infilling within an extensive
flat-lying, outcropping / sub-cropping jasperoid "blanket". The
mineralized jasperoid has been outlined for greater than 1,500 metres
strike and up to 750 metres width, and is typically 10 to 15 metres
thick. It remains open along the northwest-southeast strike direction,
and across strike in the southwest-northeast direction (view map at
www.EAminerals.com). Continuing surface work has outlined the
potential for an additional 1,500 metres strike.
Binebase-Bawone Prospect
New Binebase drill assays (for a complete assay listing refer to
www.EAminerals.com):
Drill Hole From (m) To (m) Interval (m) Gold (g/t) Silver (g/t) Gold
Equiv. (g/t)*
BID-19* 0.00 48.60 48.60 0.32 5.54 0.42
And 154.00 199.00 45.00 0.29 2.71 0.34
BID-20* 0.00 24.40 24.40 0.41 0.99 0.43
Including 0.00 4.50 4.50 0.67 0.69 0.68
BID-21* 0.00 53.25 53.25 0.58 22.71 0.99
Including 0.00 17.00 17.00 1.15 24.35 1.59
And 65.50 83.50 18.00 0.36 12.79 0.59
Including 65.50 70.00 4.50 0.91 8.33 1.06
BID-22 0.00 87.05 87.05 0.36 13.30 0.60
BID-23 0.00 4.00 4.00 0.38 2.00 0.42
And 8.00 26.00 18.00 1.46 9.56 1.63
And 29.60 57.50 27.90 0.67 6.48 0.79
Including 45.55 51.50 5.95 1.15 8.83 1.31
The gold equivalent uses a silver to gold ratio of 56:1 based on
precious metal market prices, and assuming total recoveries of both
metals.
* BID-19, BID-20 and BID-21 under report the composite grades due to
6.05, 1.45 and 0.9 metres respectively of lost core being assigned a
zero value.
BID-19 and BID-20 were collared on Binebase Hill, 150 metres
east-southeast of BID-16 which intersected 29.90 metres at 2.72 g/t
gold in oxides commencing at surface. BID-19 intersected 46.35 metres
of friable and broken oxidized silica-clay-limonite rock. BID-20
intersected 48.9 metres of similar material. The best intersections
were from the oxide zone and it is interpreted that the gold may be
partially leached and remobilized to the flanks such as at BID-16 which
is topographically lower than both BID-19 and BID-20. Core recovery was
irregular in the oxide zone and the grade is under reported. The holes
drilled 227.25 metres and 185.75 metres, respectively, of strongly
variable silica-clay-alunite-pyrite +/- quartz-barite-base metals
veinlets in altered host rock.
BID-21 was collared between holes BID-15 and BID-18 to test for the
continuation of greater than 1g/t gold in core from BID-15 that was not
intersected in BID-18. The hole intersected oxidized altered rock to
17.0 metres, returning plus 1g/t gold assays. Drilling continued to
194.1 metres in strongly variable silica-clay-alunite-pyrite +/-
quartz-barite-base metals overprinting veinlets and altered rock.
BID-22 was collared between the high grade BID-11/15 and BID-12/13/14
sections, with associated surface channel sampling in oxide material
returning 113 metres at 0.86 g/t gold. This hole intersected variable
silica-alunite-limonite-pyrite +/- clay with barite-quartz-base metal
veinlets commencing at 48 metres downhole. The oxide zone occurred to
36.9 metres and contained the better gold grades.
BID-23, collared 95 metres south of BID-16, intersected oxide gold
mineralization to 45.5 metres depth in silica-clay-limonite-alunite
alteration. The hole bottomed at 142.55 metres with irregular
galena-sphalerite-quartz-barite veinlets from 78 metres, overprinting
earlier variable silica-clay-alunite-pyrite alteration. This southern
step-out extends the known mineralization from the central Binebase
zone towards the south by 95 metres, and remains open.
Drilling at Binebase is increasingly segregating surface oxide gold
mineralization from the underlying primary gold-silver mineralization
in the northern Binebase area.This series of Binebase holes drilled
abundant oxide material interpreted to be the flanks of higher grade
zones marked by drill holes BID-11/15/16 and BID-12/13/14. There is
also leaching of gold (BID-19 and 20) and enrichment (BID-16). These
flanks or distal zones to the higher grades are oxidized to depths of
17 to 46 metres downhole, or between 15 to 40 meters thick grading from
0.32 to 1.15 g/t gold in 95% plus cyanide leachable material. The oxide
zone appears to be a surface blanket.
Drilling will continue to test Binebase and Bawone, which remain open
along strike and may be contiguous along the intervening 1.2 kilometres
structural corridor (refer to the Company's website at
www.EAminerals.com for a plan view of drilling).
Reported Abong samples were assayed at Intertek Laboratories in
Jakarta. Reported Sangihe samples were assayed at PT SGS Indoassay
(SGS Group) in Balikpapan. Michael Hawkins, M.Sc., MAusIMM, the
designated QP within the meaning of NI43-101 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 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 drilled to define NI43-101 compliant
resources. The Company owns ten uranium properties, including the
advanced Ingiin-Nars, Ulaan Nuur and Enger uranium projects, and a 75%
interest in the Khok Adar copper oxide discovery in Mongolia. East
Asia currently has 55,645,372 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 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
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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: +1-778-997-2183
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) 2008 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 Jun 2, 2008 at 5:58:01 AM Pacific Time
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