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Re: News Releases - Tuesday, January 19, 2010
East Asia Minerals Updates Progress at Aceh; Expands South Miwah
Bluff
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For Immediate Release, January 19, 2010 TSXV: EAS
VANCOUVER, B.C. -- Tuesday, January 19, 2010 -- East Asia Minerals
Corporation (TSXV-EAS) reports that NI43-101 resource estimate drilling
at the Miwah Main Zone in Aceh Province, Northern Sumatra, Indonesia,
is progressing well with two drill rigs turning, both having
encountered visually altered and mineralized rock in holes EMD017 and
018. Assays are pending for EMD0016. (Refer to drill location map on
Company's website at www.EAminerals.com).
The Company also announces that excellent progress has been made in
designing the resource estimate drill program for the South Miwah Bluff
Gold discovery. This program is expected to commence Q2 2010.
Detailed follow-up mapping, rock and soil sampling have determined that
the South Miwah Bluff Gold Zone is open and may significantly extend
from the earlier mapping. The exploration grid is being extended east
from the previously defined 650 metres north-south by up to 300 metres
east-west footprint. Highlights from the detailed follow-up include
strong anomalous gold in soils (1 ppm gold) in an area open to the
east, and coincident with high relief topography and a surface induced
polarization zone with strong resistivity and chargeability results
that extend further east (Refer to NE quadrant of South Miwah Bluff
Soil Geochemistry map on Company's website at www.EAminerals.com).
Elsewhere in the Company's impressive Indonesian gold portfolio, work
has advanced at the Lower Tengkereng and Bahu porphyry gold-copper
projects where geological, geochemical and ground preparations for
drilling Q2 2010 are on schedule. East Asia plans to drill one to two
holes in each of these projects to demonstrate the potential of these
large porphyry gold systems.
Work at the Lower Tengkereng project has provided confidence to improve
on grades from the limited historic drilling. Surface channel sampling
by East Asia at Lower Tengkereng, including 31 metres of 0.77 g/t gold
plus 0.03% copper and 116 metres of 0.33 g/t gold plus 0.04% copper,
confirms the presence of gold-rich porphyry mineralization (see March
2, 2009 news release). These results are significantly better than the
historical drill intercepts from the upper 90 metres of the Lower
Tengkereng porphyry system, beneath which 339 metres of 0.5 g/t gold
plus 0.2% copper were encountered. Historic drill and current surface
results at Lower Tengkereng are also better than results from Upper
Tengkereng located 1.5 kilometres northeast (See December 1, 2008 news
release). At Upper Tengkereng East Asia drilled a 646.25 metre hole
averaging 0.39 g/t gold plus 0.21% copper (0.68 g/t gold equivalent*),
including 268 metres of 0.57 g/t gold plus 0.26% copper (0.92 g/t gold
equivalent*) from 318 to 586 metres. Significant near surface gold
mineralization was also intercepted, including 14 to 82 metres (68
metres) of 0.51 g/t gold plus 0.21% copper (0.80 g/t gold equivalent*).
Work at the Bahu project is near completion to provide drill targets in
an area where porphyry gold mineralization and alteration have been
defined over a 1.6 by 0.9 kilometres area. This project has not been
previously drilled. Channel sampling of intense quartz vein stockwork
(in excess of 20% quartz vein density) has encountered 30 metres at
0.71 g/t gold with 0.034% copper, 36 metres at 0.65 g/t gold with
0.031% copper, 40 metres at 0.59 g/t gold, and 46 metres at 0.75 g/t
gold with 0.027% copper.
*The Upper Tengkereng gold equivalent used a copper to gold ratio of
1:1.36 (1% copper = 1.36 gm gold); based on then current metal market
prices, and assuming total recoveries of both metals.
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.
Barisan Porphyry Geological Setting
East Asia Minerals' Barisan II Project encompasses a cluster of six
known porphyry centers within a 6.2 kilometre by 3 kilometre block
(view map at www.EAminerals.com). At the Upper and Lower Tengkereng
Prospect areas, two windows of similar porphyry gold-copper
mineralization, located about 1.5 kilometres apart, are exposed through
shallow interbedded sedimentary and volcanic cover rocks and may be
linked at depth. Recent and historical drilling suggests that gold and
copper grades improve with depth.
Geological features observed in drill core from Upper Tengkereng and
surface outcrops at Lower Tengkereng confirm that these systems share
many features of the world's best gold-rich porphyry copper deposits in
the circum-Pacific rim.
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 71,127,372 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
or
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 Jan 19, 2010 at 7:02:49 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. |