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Re: News Releases - Wednesday, January 21, 2009
East Asia Minerals Encounters Additional 200 Metres of 4.11 g/t
Gold in Miwah Channels
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For Immediate release, January 21, 2009 TSXV: EAS
VANCOUVER, B.C. -- Wednesday, January 21, 2009 -- East Asia Minerals
Corporation (TSXV-EAS) continues to encounter significant gold
intercepts from rock sawn channel sampling at its Miwah Gold Project
located in Aceh Province, North Sumatra, Indonesia. The latest results
have encountered high grade gold from the central part of Block M,
including 20 metres of 14.00 g/t gold, 10 metres of 3.70 g/t gold, 32
metres of 2.41 g/t gold and 20 metres of 1.45 g/t gold, over 200 metres
of strike within the plus 1000 metre long continuously gold mineralized
Miwah zone. Also, rock chip samples with anomalous gold values were
collected from Sipopok, a newly discovered mineralized system located
1.5 kilometres northeast of Miwah.
Miwah Trenching Update
Additional encouraging assay results have been received from rock sawn
channel sampling in trenches at the Miwah Gold Zone (view map at
www.EAminerals.com). Results from the central Block M area returned
consistently strong gold mineralization averaging 4.11 g/t gold across
a 200 metre long, semi-continuous channel. Selected un-cut composite
trench intervals include:
.. 20 metres of 14.00 g/t gold (Trench 119);
.. 6 metres of 6.19 g/t gold (Trench 121);
.. 10 metres of 3.70 g/t gold (Trench 117);
.. 32 metres of 2.41 g/t gold (Trench 118);
.. 5 metres of 1.61 g/t gold (Trench 115);
.. 20 metres of 1.45 g/t gold (Trench 116);
.. 34 metres of 0.75 g/t gold (Trench 114);
.. 15 metres of 0.61 g/t gold (Trench 112);
.. 50 metres of 0.58 g/t gold (Trench 103);
Michael Hawkins, President and CEO of East Asia Minerals Corporation
stated "We continue to be very encouraged by the tenor and continuity
of our rock sawn channel sampling of the huge, well exposed Miwah high
sulphidation epithermal gold system. Miwah is so well exposed at
surface that we are very confident of the overall size of the system,
and as our rock sawn sampling program progresses we are likewise
confident that the overall grade of the system might approach, or
perhaps even surpass that of the nearby world class Martabe gold
deposit."
Ongoing detailed surface mapping and sampling will form the basis for
selecting optimum drill targets which are anticipated to be drill
tested in Q2 2009.
Sipopok
EAS has recently discovered another mineralized zone at Sipopok,
located 1.5 kilometres northeast of the Miwah Gold Zone. Initial rock
chip channel sampling returned anomalous gold values including 12
metres of 0.78 g/t gold, 11 metres of 0.45 g/t gold and 35 metres of
0.33 g/t gold. This sampling has only partially tested a small part of
this new and potentially large mineralized system currently identified
over approximately 1000 by 1000 metres. The alteration facies sampled
was predominantly alunite-silica which is typical of the peripheral
parts of high sulphidation epithermal systems. Follow up mapping and
sampling are required to identify the more productive silicified part
of the system.
Project Background
Extensive surface channel sampling by EAS and a previous explorer shows
that mineralization in the Miwah Gold Zone occurs within a well
defined, one square kilometre zone of high sulphidation alteration.
Better gold mineralization is closely related to a well-defined body of
massive, residual vuggy silica-sulphide forming an impressive
resistant, east-northeast trending cliff traced for over 1000 metres
along strike, averaging 300 metres wide and up to 200 metres high.
Miwah demonstrates many features of the shallow part of a high-level
high sulphidation ("HS") epithermal gold system, including intense acid
leaching, strong structural and lithological permeability controls to
fracture fed mineralizing fluids, presence of structurally-controlled
hydrothermal and phreatic breccias, disseminated mineralization of
gold-silver much greater than copper, and the elemental association of
As, Sb, Bi, Ba, S and Te.
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. In addition to similarities to Martabe,
the Miwah project also exhibits a likeness to the size, style and
geometry of the alteration system developed at another important HS
gold deposit, 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).
Miwah was partially defined by approximately 3000 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 clearly parallel to higher grade (greater than 5 g/t
gold) structures at surface, and hence significantly higher overall
grades are anticipated from better oriented drill holes. The total
2,316 rock saw channel samples collected by EAS in 2008 averaged +1 g/t
gold and +3 g/t silver and the Company believes that this underlines
the huge, world-class potential of this high sulphidation gold system.
Samples reported were assayed at Intertech assay laboratories in
Jakarta. David Royle, B.Sc. (Hons), FAusIMM, CP, the designated QP
within the meaning of 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 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 twelve 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 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 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 Wed Jan 21, 2009 at 7:08:53 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. |