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Re: News Releases - Thursday, May 13, 2010
East Asia Minerals Further Opens the Miwah Main Zone; Encounters
1.77 g/t Gold Over 65 Metres Within 159 Metres Grading 1.01 g/t
Gold
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For Immediate Release, May 13, 2010 TSXV: EAS
VANCOUVER, B.C. -- Thursday, May 13, 2010 -- East Asia Minerals
Corporation (TSXV-EAS) announces that drilling has further opened the
Miwah Main Zone at the Miwah Gold Project in Aceh Province, Northern
Sumatra, Indonesia. EMD026 encountered 1.77 g/t gold over 65 metres
within 159 metres grading 1.01 g/t gold, establishing the link between
the Miwah Bluff and Block M portions of the Miwah Main Zone. In
addition EMD026 encountered a deeper zone of 0.31 g/t gold over 58.7
metres, finishing at the end of hole. Due to similarities in
mineralization/alteration, this zone is interpreted to be a vector
towards the intersection of 15.74 g/t gold over 22 metres at the end of
EMD024, located 70 metres due north. EMD025 encountered several
interfingered gold-bearing zones within the cross-cutting Rusa Fault
Zone, extending the Miwah mineralization towards the recently
discovered Signal area gold-bearing vuggy silica outcrops located up to
600 metres west of previous drilling.
East Asia has drill validated the 1.2 kilometre east-west outcropping
width of the shallow, laterally extensive Miwah Main Zone, and has
encountered gold mineralization in all of its holes. 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.
EMD025 was drilled with a due west azimuth and 55 degree dip to test
west from EMD024, and was completed at 210 metres downhole depth. This
is the furthest west the Company has drilled the open northern area of
the Miwah Main Zone to date, and displays that the gold mineralization
continues towards the recently discovered gold-bearing Signal area
vuggy silica outcrops located several hundreds of metres further west.
Gold intercepts include 1.15 g/t gold over 7 metres (86 to 93 metres),
1.26 g/t gold over 8.5 metres (123.5 to 132 metres), 1.64 g/t gold over
3.9 metres (147.5 to 151.4 metres), and 1.09 g/t gold over 9.5 metres
(180 to 189.5 metres). The mineralization occurs as a structural
interfingering of favourable alteration/mineralization with less
permeable diorite horizons, due to the northwest trending Rusa Fault
Zone. The Rusa Fault Zone cut off gold mineralization in EMD001 and
017. The gold is open to depth and in all directions, and is
interpreted to continue north-easterly across the structure to where
EMD024 encountered 3.96 g/t gold over 111 metres, including 15.74 g/t
gold over 22 metres.
EMD026 was drilled with a 310 degree azimuth and 50 degree dip,
targeting the extension of silicification northeast of Miwah Bluff.
This hole has successfully established the link between the Miwah Bluff
and Block M portions of the Miwah Main Zone. It is a north-westerly
step out from EMD014, drilled towards EMD024, and was completed at
354.7 metres downhole depth. Gold grading 1.01 g/t was encountered
from 107 to 266 metres, including 1.77 g/t gold from 170 to 235 metres,
and further pushes the Miwah Main Zone to the north where it remains
open. Following a 30-metre interval of weak gold mineralization from
266 to 296 metres, the hole encountered 0.31 g/t from 296 metres to the
end of hole at 354.7 metres. The mineralization/alteration in the
lowermost 18.2 metres is similar to that of the high-grade intersection
of 15.74 g/t gold over 22 metres at the end of EMD024. It is
interpreted that this lower portion of EMD026 vectors towards the
high-grade EMD024 intersection which is located approximately 70 metres
due north along section. EMD026 is open to depth and in all
directions.
EMD027 was drilled with a due south azimuth and 55 degree dip, to
confirm thickness and test for gold grade variation in the vuggy
silicification between EMD023 and EMD024. The hole was completed at
200 metres downhole depth and encountered visually altered and
mineralized rock from 25 to 190 metres. Assays are pending.
EMD028 was drilled with a due east azimuth and 30 degree dip to test
for the extension of alteration and mineralization from EMD018/019, and
was completed at 200 metres downhole depth. It is located 130 metres
west from section EMD018/019 and encountered visually altered and
mineralized rock from 58 to 140 metres. Assays are pending.
EMD029 is being drilled with a due south azimuth and 60 degree dip to
test for the extension of alteration and mineralization from high-grade
hole EMD024. It is a 210 metres north step-out from EMD024 and is
progressing well, having encountered visually altered and mineralized
rock from 60.9 to 69.7 metres, and from 108 to 227 metres, including
145 to 155 metres, 212.5 to 213.6 metres and 214.9 to 215.70 metres
where the hole encountered similar mineralization to that hosting
high-grade gold assays at surface and at the end of EMD024.
EMD030 was drilled with a 45 degree azimuth and 47 degree dip from the
EMD028 location to test for the extension of silicification and
mineralization to the north of EMD021. The hole was completed at 210
metres downhole depth. Commencing at 51 metres depth the hole
encountered several zones of visually altered and mineralized rock to
201 metres. From 77.3 to 86.3 metres the hole encountered similar
mineralization to that hosting high-grade gold assays at surface and at
the end of EMD024. Assays are pending.
EMD031 is just commencing and is being drilled with a due south azimuth
and 30 degree dip from the EMD028/030 location to test the extension of
silicification to the west of Miwah Bluff (Refer to drill location map
at www.EAminerals.com).
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 75,387,872 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
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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts 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
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 Thu May 13, 2010 at 6:36:22 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. |