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Re: News Releases - Tuesday, November 03, 2009
East Asia Completes Planning for NI43-101 Resource Drilling at
Miwah
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For Immediate release, November 3, 2009 TSXV: EAS
VANCOUVER, B.C. -- Tuesday, November 3, 2009 -- East Asia Minerals
Corporation (TSXV-EAS) is pleased to announce that planning has been
completed for Phase 2 diamond drilling of the Main Miwah Gold Zone. The
Phase 2 program will begin immediately upon the completion of hole
EMD013, the end of the Phase 1 program. Based on the strong and
consistent gold mineralization encountered to date, the Phase 2 program
is designed to provide drill results required to complete a NI43-101
compliant resource estimate. A second rig is planned to arrive at
Miwah prior to end-year with the intention to complete the NI43-101
resource estimate drilling by mid-year 2010. The Company is well
funded to undertake much of the planned drilling.
To date more than 700 metres of strike length have been drilled and
assay validated by East Asia Minerals along the shallow, laterally
extensive 1.2 kilometre long Main Miwah Gold Zone. In addition the
drill rig has been stepped out a further 140 metres to the east where
EMD012 has been completed after drilling a wide intercept of visually
altered and mineralized rock. EMD013 is currently progressing in
similar visually altered and mineralized rock (Refer to map on
Company's website at www.EAminerals.com). The Miwah project
demonstrates a robust gold system that continues to grow rapidly and
that has provided a 100 percent hit rate of strong gold values.
Drilling in the Main Miwah Gold Zone has also demonstrated a laterally
extensive, higher grade near-horizontal layer, grading 2 to 5 g/t gold
in the upper levels of the mineralized system.
Detailed mapping and sampling are continuing at the new South Miwah
Bluff gold discovery, and planning is underway for a grid-based soil
sampling program in conjunction with ongoing rock sawn channel sampling
of outcrop. The results will be used to generate targets for follow-up
diamond drilling. Recent electron microprobe studies of gold-bearing
samples from the new discovery area display a high percentage of free
gold. Secondary and back-scattered electron images clearly show that
the free gold infills cavities and fractures. Together with
preliminary metallurgical test work undertaken by a previous explorer
for the Main Miwah Gold Zone, which indicated gold recoveries of 74% to
84% from cyanidation testing of mixed oxide sulphide samples, and
greater than 90% recovery for oxide, the recognition of significant
amounts of free gold in samples is pointing to favourable metallurgical
properties at the project. Formal metallurgical testing will be
conducted as the Miwah project is advanced.
Miwah Background
The Miwah Gold Prospect was partially defined by approximately 3,000
metres of drilling in eleven 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, 300 to 400 metre wide, approximately 200 metre
thick tabular zone; and vertical diatreme breccia feeder zones that are
beneath and cut through this. Within the tabular zone East Asia has
over 2,000 metres of rock sawn channel samples which average 1.2 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 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 eleven uranium
properties, including the advanced Ingiin-Nars, Ulaan Nuur and Enger
uranium projects, four phosphate properties, and a 75% interest in the
Khok Adar copper oxide discovery in Mongolia. East Asia currently has
66,584,122 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) 2009 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 Nov 3, 2009 at 6:01:42 AM Pacific Time
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East Asia Minerals Corporation
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EXPLORATEUR |
CODE : EAS.V |
ISIN : CA2705411056 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
East Asia Minerals est une société d’exploration minière d'or et d'argent basée au Canada. East Asia Minerals détient divers projets d'exploration en Indonesie. Ses principaux projets en exploration sont KHOK ADAR, ENGER, ULAAN NUUR et INGIIN-NARS en Mongolie et TANGSE, TAKENGON, BARISAN 2 PORPHYRY PROJECTS, ABONG, SANGIHE, MIWAH, UPPER TENKERENG et BARISAN en Indonesie. East Asia Minerals est cotée au Canada et en Allemagne. Sa capitalisation boursière aujourd'hui est 8,3 millions CA$ (6,3 millions US$, 5,3 millions €). La valeur de son action a atteint son plus haut niveau récent le 14 mai 2010 à 8,73 CA$, et son plus bas niveau récent le 01 janvier 2016 à 0,01 CA$. East Asia Minerals possède 53 790 000 actions en circulation. |