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Re: News Releases - Friday, August 27, 2010
East Asia Updates Miwah Program-Continues to Encounter Gold
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For Immediate Release, August 27, 2010 TSXV: EAS
VANCOUVER, B.C. -- Friday, August 27, 2010 -- East Asia Minerals
Corporation (TSXV-EAS) announces that drilling at the Miwah Project in
Aceh Province, Northern Sumatra, Indonesia, continues to build on and
increase the understanding of the Miwah gold deposit. With the third
drill rig on site, the pace of drilling has increased substantially.
EMD037B was drilled as a replacement hole for EMD037, which was
abandoned at 186.3 metres in high-grade gold mineralization due to
difficult ground conditions (1.43 g/t gold from 37 to 186.3 metres,
including 4.27 g/t gold from 164.4 to 186.3). EMD037B was completed at
321.8 metres with a 129 degree azimuth and 45 degree dip to validate a
large area to the east of EMD033 and to continue to prove up the
potential to connect the Miwah Main Zone with the Moon River area. It
was drilled towards EMD008-012A (EMD-008 assayed 2.11 g/t gold over 100
metres, including 4.81 g/t gold over 30 metres; and EMD012A assayed
1.28 g/t gold over 183.5 metres, including 1.79 g/t gold over 113.2
metres and 2.11 g/t gold over 77.7 metres) and encountered 0.50 g/t
gold from 40 to 299 metres (259 metres), including 0.76 g/t gold from
40 to 100 metres (60 metres) and 0.84 g/t gold from 150.5 to 223 metres
(72.5 metres). The difference in gold grade from abandoned EMD037 is
due to increased variability in alteration and less overall
silicification, attributed to drilling in a structural corridor. The
mineralization is open to the north, east and at depth, and is
interpreted to be contiguous to gold-rich holes drilled in all other
directions.
EMD038 was drilled with a due south azimuth and 55 degree dip to test
for the down-faulted mineralized block intersected in EMD032 and
partially intersected in EMD036. The hole was stopped at 174.3 metres
due to drilling difficulties and the appearance of quartz diorite
porphyry from 151.8 to the end of hole. The presence of intrusive
rock, combined with elevated faulting in this area, resulted in EMD038
being less intensively silica altered than typical of the Miwah Main
Zone. It is interpreted that this diorite and faulting is local and
that the more intensely altered gold-bearing horizon exists along
strike in all directions. Assays are pending for silica-alunite
altered horizons in the upper parts of the hole.
EMD039 was drilled with a 274 degree azimuth and 50 degree dip to test
for continuity between EMD008 (2.11 g/t gold over 100 metres, including
4.81 g/t gold over 30 metres) and EMD014 (1.38 g/t gold over 101
metres, including 1.95 g/t gold over 58 metres). The hole was
completed at 205.5 metres and encountered multiple intervals of
visually favourable alteration/mineralization from 31.8 metres to the
end of hole where it finished in favourable host rock. Geology in this
area is controlled by a northwest structural corridor. Assays are
pending.
EMD040 was drilled with a 210 degree azimuth and 55 degree dip to test
for continuity of mineralization towards EMD033, and was completed at
341.3 metres. The hole encountered visually favourable
alteration/mineralization from 55.5 to 147.2 metres, 179.8 to 233.4
metres, 252.2 to 269.6 metres, and 319.5 to 337.2 metres. Assays are
pending.
EMD041 was drilled with a 22 degree azimuth and 55 degree dip to test
for mineralization north from the EMD008-011 Block M area of the Miwah
Main Zone, towards the Moon River area. The hole encountered
favourable alteration/mineralization from 84.8 metres through to the
end of hole at 211.8 metres. Assays are pending.
EMD042 was drilled with a 302 degree azimuth and 35 degree dip to test
for the extension of mineralization north of the Miwah Main Zone
towards EMD037-037B. The hole encountered favourable
alteration/mineralization from 66.1 to 97.6 metres and from 112.9
metres through to the end of hole at 210.4 metres. Assays are pending.
EMD043 was abandoned in favourable alteration/mineralization at 41.7
metres due to heavy rains resulting in unsafe drill pad conditions.
The hole was originally designed with a 230 degree azimuth and 50
degree dip to test west from the Moon River area towards mineralization
intersected in EMD033 and EMD037/037B. It has been replaced by
EMD043B.
EMD043B has just commenced and is located 30 metres southwest of
EMD043, using the same orientation to continue testing the original
target west from the Moon River area.
EMD044 has just commenced and is a vertical drill hole designed to test
for depth extent of mineralization encountered by EMD033 (1.34 g/t gold
over 323.1 metres, including 1.51 g/t gold over 270.5 metres with 2.33
g/t gold over 89 metres followed by 1.87 g/t gold over 71 metres).
EXD001 is the first hole for the third
Diamond drill rig that was
recently brought into the Miwah property to test farther reaching
exploratory targets. EXD001 was drilled with a due east azimuth and 47
degree dip to test for gold mineralization west of the Miwah Main Zone,
in the recently discovered Signal area. The hole was completed at
201.6 metres and encountered 1.43 g/t gold from 82.8 to 102.6 metres
(19.8 metres), including 4.32 g/t gold from 98 to 102.6 metres (4.6
metres), and 0.82 g/t gold from 153 to 176 metres (23 metres). The
mineralization is open in all directions.
EXD002 was drilled with a 20 degree azimuth and 50 degree dip to test
for gold mineralization in the Signal area where trench assays include
1.35 g/t gold over 14 metres. The hole was stopped at 154.5 metres
downhole in a large fault zone due to drilling difficulties. The
Company interprets that the favourable alteration/mineralization
encountered in this fault zone (147.3 to 154.5 metres) persists on the
other side. On surface this zone correlates with a large
northwest-southeast trending drainage, which is the northwest
expression of the previously reported Rusa Fault Zone. Assays are
pending.
EXD003 has just commenced with a due south azimuth and 55 degree dip to
test for gold mineralization 100 metres north from EMD029, in the
western Moon River area. Previous hole EMD029 encountered 1.07 g/t
gold over 103.5 metres, including 2.01 g/t gold over 44 metres,
extending the Miwah Main Zone north from EMD024 where 3.96 g/t gold
over 111 metres, including 15.74 g/t gold over 22 metres was drilled
(Refer to drill location map at www.EAminerals.com).
The Company also reports that in addition to a previously announced
sample grading 2.78 g/t gold over 2 metres located 420 metres east of
drill hole EMD016, the furthest east that East Asia Minerals has
drilled the Miwah Main Zone, recent channel sampling encountered 2.22
g/t gold over 27.5 metres, 1.72 g/t gold over 4 metres and 2.27 g/t
gold over 4 metres. These new results are located between 130 and 220
metres northeast of EMD016. Additional sampling in the discovery area
encountered 3.04 g/t gold over 3 metres, located 390 east of EMD016
(Refer to East Block M sample location maps at www.EAminerals.com).
This area will be drilled as part of the ongoing regional targeting of
the Miwah Gold Zone.
East Asia has
Diamond drill validated the 1.2 kilometre east-west
outcropping width of the shallow, laterally extensive Miwah Main Zone,
and has encountered significant gold mineralization in all holes
analyzed to date. 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. Recent sampling east of the Miwah Main Zone
in the East Block M area has potentially expanded the east-west width
another 400 metres and remains open.
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 from the ongoing drill program
which is based on increased geological understanding. An example is
the intersection of 3.96 g/t gold over 111 metres, including 15.74 g/t
gold over 22 metres from East Asia's
Diamond drill hole EMD024.
Based on the Company's work Miwah is resolving into two components; a
large 1,200 metre long, at least 450 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 75,580,872 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
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undertake no obligation to publicly update or revise forward-looking
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accepts responsibility for the adequacy or accuracy of this release.
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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: +1-604-684-2183 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 Fri Aug 27, 2010 at 6:24:46 AM Pacific Time
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