East Africa Metals Exploration Update, Harvest and Adyabo Projects, Northern Ethiopia
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Apr 29, 2015) - East Africa Metals Inc. (TSX VENTURE:EAM) ("East Africa" or the "Company") is pleased to announce recent drill results from exploration conducted in Ethiopia on the Adyabo and Harvest projects. Results include reverse circulation (RC) drilling at the Terakimti VHMS deposit and additional diamond drill holes from Mato Bula North and Mato Bula.
TERAKIMTI OXIDE RESOURCE DRILLING - HARVEST PROJECT
20 x 20 metre RC drilling is continuing at the Terakimti VHMS deposit, to provide detailed definition of the Terakimti gold oxide resource. Recent results from holes TRC019 through 042 (see Table 1), drilled in the northern section of the deposit, continue to define continuity and grade of the gold and silver enriched oxide zones, and follow on the positive results received for holes TRC01-18 (see East Africa's news release dated March 11, 2015). East Africa plans to utilize the RC drill results to update the oxide mineral resource at Terakimti, with the intent of applying for a Mining Licence.
Drill results for TRC019 to 042 are presented in Table 1. Highlights from the drilling results received include:
Gold Rich Oxide
- TRC019 - 9 metres at 5.94 grams per tonne gold (section 54120N);
- TRC026 - 14 metres at 7.25 grams per tonne gold (section 54160N);
- TRC028 - 10 metres at 11.30 grams per tonne gold (section 54160N);
- TRC031 - 12 metres at 3.59 grams per tonne gold (section 54180N) ; and
- TRC038 - 20 metres at 1.99 grams per tonne gold (section 54220N).
Gold-Silver Rich Oxide
- TRC021 - 15 metres at 7.34 grams per tonne gold and 324.5 grams per tonne silver (section 53120N); and
- TRC029 - 3 metres at 3.31 grams per tonne gold and 159.2 grams per tonne silver (section 53160N).
VMS Mineralization (locally supergene enriched)
- TRC024 - 12 metres at 2.43 grams per tonne gold, 6.74% copper and 20.5 grams per tonne silver (section 54140N); and
- TRC033 - 32 metres at 4.40 grams per tonne gold, 3.08% copper and 15.8 grams per tonne silver (section 53180N).
Drilling of the oxide resource is now almost complete with 92 drill holes totaling 4,560m for an average drill hole depth of 49.6m.
Table 1 - RC drilling results TRC019 to TRC042.
| Hole ID | From (m) | To (m) | Interval (m)* | Gold g/t | Copper % | Silver g/t | Local Azimuth | Dip | Resource Type | |
| TRC019 | 8.00 | 17.00 | 9.00 | 5.94 | 0.03 | 1.6 | 270 | -64 | Oxide | |
| 27.00 | 41.00 | 14.00 | 0.06 | 0.69 | 0.0 | Supergene | ||||
| TRC020 | 31.00 | 35.00 | 4.00 | 2.50 | 0.03 | 2.7 | 270 | -63 | Oxide | |
| 39.00 | 46.00 | 7.00 | 0.03 | 1.95 | 0.0 | Supergene | ||||
| 48.00 | 58.00 | 10.00 | 1.00 | 0.63 | 1.3 | Sulfide | ||||
| TRC021 | 24.00 | 39.00 | 15.00 | 7.34 | 0.03 | 324.5 | 275 | -63 | Oxide | |
| 40.00 | 49.00 | 9.00 | 1.08 | 1.03 | 12.1 | Supergene | ||||
| 53.00 | 61.00 | 8.00 | 0.38 | 0.13 | 490.3 | Oxide | ||||
| TRC022 | No Significant Results | 276 | -67 | |||||||
| TRC023 | 20.00 | 37.00 | 17.00 | 1.76 | 0.03 | 18.6 | 274 | -61 | Oxide | |
| 37.00 | 49.00 | 12.00 | 1.60 | 0.65 | 7.6 | Supergene/Sulfide | ||||
| TRC024 | 24.00 | 36.00 | 12.00 | 2.25 | 0.04 | 45.7 | 270 | -65 | Oxide | |
| 36.00 | 48.00 | 12 | 2.43 | 6.74 | 20.5 | Supergene/Transition | ||||
| TRC025 | 28.00 | 32.00 | 4.00 | 0.54 | 0.03 | 4.9 | 269 | -69 | Oxide | |
| 32.00 | 79.00 | 47.00 | 0.78 | 2.09 | 23.1 | Supergene/Transition/Sulfide | ||||
| TRC026 | 10.00 | 24.00 | 14.00 | 7.25 | 0.08 | 8.7 | 276 | -63 | Oxide | |
| 32.00 | 43.00 | 11.00 | 0.93 | 0.70 | 6.7 | Sulfide | ||||
| TRC027 | 28.00 | 31.00 | 3.00 | 0.98 | 1.36 | 14.0 | 272 | -63 | Sulfide | |
| TRC028 | 0.00 | 10.00 | 10.00 | 11.30 | 0.09 | 4.9 | 270 | -62 | Oxide | |
| 28.00 | 34.00 | 6.00 | 0.48 | 0.05 | 70.8 | Oxide | ||||
| TRC029 | 25.00 | 29.00 | 4.00 | 0.91 | 0.02 | 3.0 | 277 | -64 | Oxide | |
| 35.00 | 38.00 | 3.00 | 3.31 | 0.21 | 159.2 | Oxide | ||||
| 38.00 | 61.00 | 23.00 | 2.04 | 1.56 | 8.3 | Supergene | ||||
| TRC030 | 17.00 | 26.00 | 9.00 | 3.32 | 0.10 | 9.0 | 270 | -65 | Oxide | |
| TRC031 | 6.00 | 18.00 | 12.00 | 3.59 | 0.09 | 10.2 | 273 | -65 | Oxide | |
| 32.00 | 43.00 | 11.00 | 1.60 | 1.20 | 7.9 | Transition/Sulfide | ||||
| TRC032 | 27.00 | 33.00 | 6.00 | 5.83 | 0.03 | 28.4 | 270 | -65 | Oxide | |
| 50.00 | 53.00 | 3.00 | 1.02 | 0.43 | 3.6 | Sulfide | ||||
| TRC033 | 29.00 | 93.00 | 64.00 | 2.34 | 1.88 | 9.4 | 270 | -65 | Supergene/Transition/Sulfide | |
| including | 39.00 | 71.00 | 32.00 | 4.40 | 3.08 | 15.8 | ||||
| TRC034 | 2.00 | 4.00 | 2.00 | 1.88 | 0.18 | 0.4 | 272 | -62 | Oxide | |
| 10.00 | 17.00 | 7.00 | 1.33 | 0.11 | 2.1 | Oxide | ||||
| TRC035 | 0.00 | 7.00 | 7.00 | 6.09 | 0.16 | 3.3 | 276 | -65 | Oxide | |
| 30.00 | 38.00 | 8.00 | 2.41 | 2.83 | 32.4 | Transition | ||||
| TRC036 | 28.00 | 37.00 | 9.00 | 3.08 | 3.71 | 26.8 | 276 | -64 | Sulfide | |
| 55.00 | 67.00 | 12.00 | 0.43 | 0.37 | 3.8 | Sulfide | ||||
| TRC037 | 0.00 | 11.00 | 11.00 | 1.56 | 0.11 | 2.9 | 273 | -63 | Oxide | |
| TRC038 | 9.00 | 29.00 | 20.00 | 1.99 | 0.04 | 18.4 | 276 | -65 | Oxide | |
| 29.00 | 31.00 | 2.00 | 1.17 | 0.96 | 17.0 | Sulfide | ||||
| TRC039 | 15.00 | 25.00 | 10.00 | 3.05 | 0.02 | 5.3 | 276 | -65 | Oxide | |
| 40.00 | 51.00 | 11.00 | 3.13 | 3.01 | 33.2 | Transition | ||||
| TRC040 | 3.00 | 22.00 | 19.00 | 1.40 | 0.04 | 6.1 | 272 | -60 | Oxide | |
| 22.00 | 40.00 | 18.00 | 0.60 | 1.45 | 16.6 | Supergene/Transition/Sulfide | ||||
| 48.00 | 54.00 | 6.00 | 0.98 | 0.90 | 10.1 | Sulfide | ||||
| TRC041 | 0.00 | 7.00 | 7.00 | 0.96 | 0.08 | 0.6 | 266 | -62 | Oxide | |
| TRC042 | 6.00 | 16.00 | 10.00 | 1.08 | 0.09 | 2.3 | 269 | -63 | Oxide | |
| 19.00 | 27.00 | 8.00 | 2.10 | 0.06 | 12.2 | Oxide | ||||
| (1) | True thicknesses are interpreted as 70-100% of stated intervals. |
| (2) | Intervals use a 0.3 gram per tonne gold cutoff value, for gold only intervals. |
| (3) | No top cut has been used on assay values. |
Click here to view a map and type sections of the Terakimti oxide RC drill program (including full intercept table), illustrating the interpretation of mineralization at surface and at depth.
Adyabo Project
Recent results for 6 diamond drill holes have been received for Mato Bula, Silica Hill North and Mato Bula North (WMD036 to 041).
Drilling at Mato Bula North included a 40m step-out to the north and an infill 40 x 40m spaced drill hole into the siliceous pipe-like Cu-rich Mato Bula North target. Results include:
- WMD040 - 14.1 metres at 1.59% copper, 0.07 grams per tonne gold and 5 grams per tonne silver from 38m (40m northern step out); and
- WMD041 - 41.55 metres at 0.97% copper and 0.14 grams per tonne gold and 5 grams per tonne silver from 17.80 metres including 7.25 metres at 2.19% copper, 0.08 grams per tonne gold and 14 grams per tonne silver.
Drilling at Halima Hill, a 320m southerly step out to the Mato Bula drill grid, intersected 1 metre at 0.43% copper and 1.77 grams per tonne gold from 98.5m (WMD039). The assay results and visual interpretation of alteration at Halima Hill indicate the Mato Bula system is weakening to the south. Drilling near surface at the southern end of the Jasper Hill Zone at Mato Bula also failed to intersect mineralization (WMD038). This drill hole was drilled above the plunging shoot defined at Jasper Hill in WMD027, which intersected 24.50 metres at 1.67 grams per tonne gold and 0.61 percent copper (see East Africa Metals' release dated January 15th, 2015).
Two drill holes (WMD036, WMD037) were completed as 80m step outs to a 22.91 metre at 14.34 grams per tonne gold intercept at Silica Hill North (WMD032, see East Africa Metals release dated January 15th, 2015). Neither hole intersected significant mineralization. Structural logging of the two holes and detailed 1:250 scale mapping on site has indicated structural complexity and closer spaced drilling is required to test the interpreted shoot-like geometry of the zone.
A full table of intercepts and new collar plan maps are located here.
Quality Control
The planning, execution and monitoring of East Africa's quality control programs at the Harvest and Adyabo Projects are under the supervision of Jeff Heidema, P.Geo., East Africa's Vice President Exploration. Mr. Heidema is a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosures of Mineral Projects ("NI 43-101"). Diamond drill core samples and RC samples have undergone preliminary preparation at the Acme Laboratories facility in Ankara, Turkey, and are crushed to 80% passing 10 mesh, and pulverized to 85% passing 200 mesh (PRP70-1KG package). Analyses are conducted at Bureau Veritas Mineral Laboratories in Vancouver, Canada, with diamond drill analyses utilizing Aqua Regia digestion and ICP-ES for base metal and silver analyses and RC analyses utilizing Aqua Regia digestion and ICP-MS/ICP-ES(AQ270) for base metal and silver analyses. Gold analyses are conducted via Fire Assay Fusion with AA finish, and gravimetric analyses are completed for over-limit samples. Blanks and certified reference standards are inserted into the sample stream to monitor laboratory performance. For core, duplicate samples are inserted into the sample stream to both monitor laboratory performance and also characterize potential mineralization.
Qualified Person
Technical information included in this news release was reviewed and approved by Jeff Heidema, P.Geo., the Company's Vice President Exploration. Mr. Heidema is a Qualified Person as defined by NI 43-101.
About East Africa Metals
The Company's principal assets and interests include both the 70%-owned Harvest polymetallic VMS exploration Project, which covers approximately 116 square kilometres in the Tigray region of Ethiopia, 600 kilometres north‐northwest of the capital city of Addis Ababa, and the Adyabo Project, covering 264 square kilometres immediately west of the Harvest Project. The Company has entered into an agreement to acquire up to 80% of the Adyabo Project. Additionally, the Company owns the 93 square kilometre Handeni Property located in north-eastern Tanzania. Handeni includes the Magambazi Project, a gold deposit discovered in 2009.
More information on the Company can be viewed at the Company's website: www.eastafricametals.com.
On behalf of the Board of Directors:
Andrew Lee Smith, P.Geo., CEO
Cautionary Statement Regarding Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "anticipate", "believe", "plan", "expect", "intend", "estimate", "forecast", "project", "budget", "schedule", "may", "will", "could", "might", "should" or variations of such words or similar words or expressions. Forward-looking information is based on reasonable assumptions that have been made by East Africa as at the date of such information and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of East Africa to be materially different from those expressed or implied by such forward-looking information, including but not limited to: early exploration; risks associated with the integration of Tigray Resources Inc.'s business with the Company's; the ability of East Africa to find a development partner for the Magambazi Project or identify any other corporate opportunities for the Company; mineral exploration and development; metal and mineral prices; availability of capital; accuracy of East Africa's projections and estimates, including the initial mineral resource for the Harvest Project and Magambazi Project; interest and exchange rates; competition; stock price fluctuations; availability of drilling equipment and access; actual results of current exploration activities; government regulation; political or economic developments; foreign taxation risks; environmental risks; insurance risks; capital expenditures; operating or technical difficulties in connection with development activities; personnel relations; the speculative nature of strategic metal exploration and development including the risks of diminishing quantities of grades of reserves; contests over title to properties; and changes in project parameters as plans continue to be refined, as well as those risk factors set out in East Africa's listing application dated July 8, 2013 and Tigray Resources Inc. Management Information Circular dated March 28, 2014.
Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to the successful integration of Tigray Resources Inc.'s business with the Company; the price of gold, silver, copper and zinc; the demand for gold, silver, copper and zinc; the ability to carry on exploration and development activities; the timely receipt of any required approvals; the ability to obtain qualified personnel, equipment and services in a timely and cost-efficient manner; the ability to operate in a safe, efficient and effective manner; and the regulatory framework regarding environmental matters, and such other assumptions and factors as set out herein. Although East Africa has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. The Company does not update or revise forward looking information even if new information becomes available unless legislation requires the Company do so. Accordingly, readers should not place undue reliance on forward-looking information contained herein, except in accordance with applicable securities laws.
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.
Contact
East Africa Metals Inc.
Nick Watters
Business Development
+1 (604) 488-0822 or Toll Free: 866.488.0822
604.899.1240
nwatters@eastafricametals.com
www.eastafricametals.com