East Asia Minerals Corporation: Preliminary Metallurgical Testing at Miwah Returns up to 93% Recovery for Conventional Cyanidation
TORONTO, ONTARIO -- (Marketwire) -- 01/26/12 -- East Asia Minerals Corporation (TSX VENTURE: EAS) ('EAS' or the 'Company') is pleased to report the encouraging results of preliminary metallurgical testing, which helps to form the basis to commence more detailed studies in preparation for scoping and feasibility work at its Miwah project located in Aceh Province, Indonesia. The Company is currently preparing to carry out more comprehensive metallurgical testing in 2012, however, these initial results suggest that Miwah's mineralized material is readily leachable using processing techniques conventional to the gold mining industry.
----------------------------------------------------------------------------
Gold grade Silver grade Recovery (%)
Sample Description (g/t) (g/t) Gold/Silver(i)
----------------------------------------------------------------------------
Low-grade, alunite alteration
1 zone 0.77 0.63 48/81
----------------------------------------------------------------------------
High-grade, vuggy silica
2 alteration zone 7.35 34.8 93/79
----------------------------------------------------------------------------
Low grade, alunite alteration
3 zone 0.59 5.31 71/89
----------------------------------------------------------------------------
Low grade, copper rich
potential 'feeder' zone (0.5%
4 Cu) 0.77 5.46 68/78
----------------------------------------------------------------------------
Note: Recoveries presented are reported based on 48 hour leach time on a
notional 80 percent passing 100 um grind size
All four samples were taken from core drilled by East Asia Minerals, collected under the supervision of Ian Taylor of Mining Associates Pty. Ltd. of Australia in 2011. Metallurgical testing was performed by G&T Metallurgical Services ('G&T') of Kamloops, BC, Canada, and both grinding tests and leach recovery tests were performed by G&T. Each sample consisted of 10 metres of core from two different drill holes (for a total of 20 metres per sample) identified to represent a similar mineralogical assemblage and gold grade.
Grinding analysis was done by JKTech Pty. of Australia on the basis of data received from G&T using the SMC Test®, which allows for testing and analysis of grinding using small sample sizes. The Drop-weight Index (DWi) for the four Miwah samples ranged from 3.74 to 6.15 kWh/m3, described as ranging from soft to medium based on the categorization of JKTech's database.
Bond ball mill grindability indexes completed by G&T for the four samples above indicate an index of 12.9-16.6 kWHr/tonne with an index of 15.1 kWHr/tonne for sample 2 the higher grade vuggy silica alteration zone.
Cyanide leach recovery test results are summarized on the chart above. Samples 1, 2, and 3 represent fairly typical zones from the resource, and suggest that recovery is highly dependent on gold grade and alteration assemblage. Given that the bulk of the value of the Miwah deposit lies in the higher-grade vuggy silica zones, management is encouraged that recoveries in these unoptimized tests suggests leaching will not cause any significant processing issues. Recoveries from samples 2 and 3 did not show significant improvement in recovery between 24 and 48 hours suggesting a shorter leach time may be optimal. The notional 100-micron grind size (ranging from 91 - 104 um K80 for the four tests) used for the initial tests would be considered very coarse relative to industry standards, therefore future testing will also entail optimization of particle size.
Gravity gold recoveries were generally poor, suggesting that the vast majority of gold mineralization consists of fine-grained particles, which is consistent with previous field observations.
Ed Rochette, Chairman and CEO of East Asia Minerals commented, 'We are very encouraged by these preliminary metallurgical results which indicate that the ore should be able to be processed in a conventional gold cyanidation circuit. We are currently planning on a more comprehensive metallurgical test program which will be used in the future preliminary economic assessment (PEA) and the subsequent feasibility study.'
Based on these initial results, management of the Company is very encouraged that potential ores from the Miwah project are readily leachable, although it cautions that the initial results reported represent too small a sample size to make any strong conclusion. In addition to collecting a much more comprehensive database of metallurgical samples in 2012, East Asia intends to review different processing (e.g. conventional and heap leach) and mining options to further optimize the value of the project.
Michael Hoffman, P. Eng., a consultant of the Company, is a 'qualified person', as such term is defined in National Instrument 43-101, and has read and approved the scientific and technical information contained in 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 three advanced gold and gold-copper properties located in Aceh Province, Sumatra, and Sangihe Island, North Sulawesi. The Company owns nine uranium properties, including the advanced Ingiin-Nars, Ulaan Nuur and Enger uranium projects, and two phosphate properties in Mongolia. Its shares are listed for trading on the TSX Venture Exchange under the symbol 'EAS'.
Caution Regarding Forward Looking Statements
Certain statements in this News Release, which are not historical in nature, constitute 'forward looking statements' within the meaning of that phrase under applicable Canadian securities law. When used in this News Release, such statements use words such as 'may', 'will', 'expect', 'intend', 'anticipate' and other similar terms. These statements reflect management's current assumptions and expectations regarding future results, performance or events as of the date hereof and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements. Forward looking statements involve significant risks and uncertainties and should not be read as guarantees of future or performance results. Accordingly, readers should not place undue reliance on any forward looking statement. Forward looking statements are based on assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made. The Company believes that the assumptions and expectations reflected in such forward looking statements are reasonable. Assumptions have been made regarding, among other things, the Company's future exploration and development activities; anticipated timing with respect to the completion of additional metallurgical testing; preliminary metallurgical test results with respect to the Miwah property; timely receipt of third party or regulatory approvals; and the Company's ability to obtain financing as and when required and on reasonable terms. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used and that these factors and assumptions may be incomplete or incorrect.
Forward looking statements are also subject to known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from those expressed or implied by such forward looking information. Those risks include 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; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, permitting and licensing risks; and general market and mining exploration risks. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward looking statements to reflect events or changes in circumstances that occur after the date hereof. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision.
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.
Contacts:
East Asia Minerals Corporation
Edward C. Rochette
Chairman and CEO
+1-976-7012-1500
erochette@eaminerals.com
www.EAminerals.com