East Asia Minerals Extends Miwah Gold Mineralization North, South and in Lower Zone; Discovers Vuggy Silica Outcrops
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VANCOUVER, BRITISH COLUMBIA, Apr 06 (MARKET WIRE) --
East Asia Minerals Corporation (TSX VENTURE: EAS) announces that drilling
continues to extend gold mineralization south and north from the Miwah
Main Zone in Aceh Province, Northern Sumatra, Indonesia. EMD022
encountered 3.55 g/t gold over 48.1 metres, including 9.95 g/t gold over
11 metres in the upper part of the Miwah Main Zone. It also encountered
0.33 g/t gold over 30.5 metres in the recently discovered Lower Zone. The
intercepts in EMD022 are the southernmost intercepts of the Miwah Main
Zone. EMD023 encountered 1.32 g/t gold over 90 metres, including 1.90 g/t
gold over 50.3 metres. EAS also announces several new discoveries of
favourable vuggy silica in erosional window outcrops up to 600 metres to
the west of the previously defined Miwah Main Zone, considerably
expanding the potential east-west width of the Miwah Main Zone.
EMD022 was drilled with a 190 degree azimuth and 70 degree dip to test
the area immediately south of EMD001/002/003/018, and was completed at
300 metres downhole depth. Gold grading 3.55 g/t was encountered from 6.9
to 55 metres, including 9.95 g/t gold from 10 to 21 metres. Below an
intervening fault zone, EMD022 further intercepted the new Lower Zone
(first discovered in EMD018 approximately 250 metres to the north) which
assayed 0.33 g/t from 174.5 to 205 metres. The gold mineralization is
open to depth and in all directions, and is interpreted to be continuous
to the north towards EMD018/019.
EMD023 was drilled to 199 metres with a due north azimuth and 50 degree
dip to test north from the high-grade gold mineralization encountered by
EMD018/019. Gold grading 1.32 g/t was encountered from 83.5 to 173.5
metres, including 1.90 g/t gold from 85.7 to 136 metres. The mineralized
interval included 5.75 metres of open space cavity, lowering the overall
composite gold grade. The gold mineralization is open to depth and in all
directions, and is interpreted to be continuous to the south towards
EMD018/019 which encountered 4.08 g/t gold over 81 metres including 9.29
g/t gold over 21 metres (EMD019), and 2.18 g/t gold over 116 metres
including 3.28 g/t gold over 61 metres (EMD020). Due to drill rig
limitations EMD023 did not reach to the Lower Zone.
EMD024 was drilled with a due north azimuth and 55 degree dip, 125 metres
north from EMD023, and was completed at 209 metres downhole depth. The
hole encountered visually altered and mineralized rock from 90 metres
downhole depth to the end of the hole. Of added significance is that the
favourable vuggy silica was cut by an intensive crustiform and bladed
quartz stockwork from 207.5 to 208.75 metres, being similar in appearance
to the surface rock sawn channel sample in the eastern part of the Miwah
Main Zone that graded 106.46 g/t gold over 4.6 metres.. Visuals and
section interpretation suggest the Lower Zone encountered in EMD018 may
merge with the higher level Main Zone further north towards EMD023/024.
Assays are pending.
EMD025 is commencing with a 270 degree azimuth and 55 degree, to test
west from the EMD024 mineralized intersection (Refer to drill location
map at www.EAminerals.com).
EMD026 is commencing as a north-westerly step out from EMD014. This hole
is targeting the extension of silicification to the north and east of the
Miwah Bluff portion of the Miwah Main Zone.
EAS field crews have discovered favourable vuggy silica in outcrops up to
600 metres west of EMD024, reinforcing the model that the mineralized
silica zone extends under cover further west of the current Miwah Bluff
outcrops and drilling.
"Strong and consistent gold mineralization in EMD022 and 023, the
intersection of favourable vuggy silica to the north in EMD024, and newly
discovered favourable outcrop to the west of the Main Zone, all reinforce
our belief that the Miwah gold system is potentially one of the more
important gold discoveries in this exploration cycle" remarked Michael
Hawkins, President and CEO of East Asia Minerals Corporation. "The
intersection of the lower mineralized zone in EMD022 and the new
discovery of a favourable horizon in outcrop to the west open the
possibility of extension beneath the South Miwah Bluff Zone and to the
west".
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.
About East Asia Minerals Corporation
East Asia Minerals (TSX VENTURE: EAS) 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 71,455,372
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.
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The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release
Contacts:
East Asia Minerals Corporation - Vancouver
Michael Hawkins
President and CEO
1-604-684-2183
Hawkins@EAminerals.com
East Asia Minerals Corporation - Toronto
Nick Kohlmann
Corporate Communications
1-416-792-8734
Kohlmann@EAminerals.com
www.EAminerals.com
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