East Asia Minerals' Drilling on Track for NI43-101 Resource Estimate at Miwah; Completion Expected Late Q1 to Early Q2
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/22/11 -- East Asia Minerals Corporation (TSX VENTURE: EAS) reports that the NI43-101 resource drilling program at the Miwah Main Zone in Aceh Province, Northern Sumatra, Indonesia, continues to demonstrate a robust gold system and remains on schedule with four diamond drill machines turning. Completion of the initial resource estimate is planned for late-Q1 to early-Q2, following which exploration drilling will continue in order to expand on the initial resource. The Company also reports;
-- assays for drill holes EMD052, EMD053, EMD054, EMD056, EXD003, EXD005
-- geological updates for completed holes EMD055, EMD057 (assays pending),
-- updates for in-progress drill holes EMD058 to EMD061.
EMD052 was drilled with a 215 degree azimuth and 60 degree dip in the northwest extreme of the resource estimate block. The hole was stopped at 350.9 metres and encountered 0.59 g/t gold from 207 to 216 metres (9 metres), and 0.35 g/t gold from 257 to 268 metres (11 metres).
EMD053 was drilled a due north azimuth and 60 degree dip in the west extreme of the resource estimate block. The hole was completed at 406.1 metres and encountered 0.47 g/t gold from 102.2 to 131.2 metres (29 metres), and 0.34 g/t gold from 153.5 to 177.5 metres (24 metres).
EMD054 was drilled with a 45 degree azimuth and 50 degree dip in the west extreme of the resource estimate block. The hole was completed at 205.1 metres and encountered 0.55 g/t gold from 112 to 122 metres (10 metres), 0.34 g/t gold from 159 to 177 metres (18 metres), and 0.83 g/t gold from 199 to 205.1 metres (6.1 metres) where the hole ended in mineralization due to drill rig limitations.
EMD055 was drilled with a 272 degree azimuth and 30 degree dip in the eastern area of the Miwah Main Zone to infill lithology and alteration between Block M and Moon River. The hole was completed at 352 metres and encountered several isolated favourable alteration/mineralization units from 11 to 104 metres, followed by the main gold bearing horizon from 132 to 352 metres where the hole ended in mineralization due to drill rig limitations. Assays are pending.
EMD056 was drilled with a 30 degree azimuth and 55 degree dip in the northeast extreme of the outcropping Miwah Main Zone to test north of EXD004 (0.60 g/t gold over 165.7 metres starting at surface, including 0.89 g/t gold over 90 metres with 1.47 g/t gold 40.4 metres). The hole ended at 200.1 metres and encountered 0.77 g/t gold from 2 to 57 metres (55 metres), including 1.15 g/t gold from 2 to 18 metres (16 metres) and 1.18 g/t gold from 43 to 57 metres (14 metres).
EMD057 was drilled with a 195 degree azimuth and 70 degree dip in the southeast extreme of the outcropping Miwah Main Zone to test south-southwest along section from EMD056. The hole was completed at 200.2 metres and encountered favourable alteration/mineralization from surface to 11.3 metres, 38 to 41 metres, 45 to 67 metres, and variably between 100 and 150 metres. Assays are pending.
EMD058 is being drilled with a 258 degree azimuth and 50 degree dip to infill lithology and alteration between Miwah Bluff and Block M.
EMD059 is being drilled with a 270 degree azimuth and 50 degree dip to infill lithology and alteration between Miwah Bluff and Block M to the north of EMD058.
EMD060 is being drilled with a 30 degree azimuth and 50 degree dip to infill lithology and alteration between Block M and Moon River.
EMD061 is being drilled with a 40 degree azimuth and 60 degree dip in the west extreme of the resource estimate block.
EXD003 was extended to 350 metres downhole depth from the previously drilled due south azimuth and 55 degree dip. The new assay composite gave 1.28 g/t gold from 174.5 to 222.5 metres (48 metres).
EXD005 was drilled with a 75 degree azimuth and 50 degree dip to the southeast of EXD004 where channel sampling encountered 1.23 g/t gold over 12 metres including 3.04 g/t gold over 3 metres in the East Block M area. The target is east-southeast of the known Miwah Main Zone. The hole was completed at 167.1 metres and encountered 0.26 g/t gold from 9 to 38 metres (29 metres) and 0.36 g/t gold from 69 to 81 metres (12 metres), indicating favourable mineralization east from the current resource estimate block. (Refer to Miwah drill hole location map at www.EAminerals.com).
SPD002 was drilled with a 35 degree azimuth and 50 degree dip to test directly northeast from the favourable Miwah-type horizon encountered in SPD001. The hole was abandoned at 174.4 metres after encountering Miwah-type silica and silica-alunite alteration/mineralization from 40.3 to 60.52 metres. Immediately following this horizon the hole was dominated by fault breccia and abandoned after several shifts attempted to cement the hole for continuation. No significant assays were returned (Refer to Sipopok drill hole location map at www.EAminerals.com).
East Asia has diamond drill validated the 1.2 kilometre east-west outcropping width of the shallow, laterally extensive Miwah Main Zone, and has encountered significant gold mineralization in more than 95% of all holes analyzed to date. 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. Recent sampling east of the Miwah Main Zone in the East Block M area has potentially expanded the east-west width another 400 metres and remains open.
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.
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 seven uranium properties, including the advanced Ingiin-Nars, Ulaan Nuur and Enger uranium projects, and two phosphate properties in Mongolia. East Asia currently has 76,040,872 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.
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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