East Africa Metals Provides an Update on Infill Diamond Drilling at the Da Tambuk and Mato Bula Deposits, Adyabo Project, Ethiopia
VANCOUVER, BC--(Marketwired - March 22, 2016) - East Africa Metals Inc. (TSX VENTURE: EAM) ("East Africa" or the "Company") is pleased to announce the final diamond drill results from the recently completed 40 x 40 metre spaced infill program, targeted on the core areas of gold resource mineralization at the company's Adyabo Project in Ethiopia. Results for 15 drill holes, totaling 1,763.28 metres, are included below, and will be used to upgrade the current resources at Adyabo. Twelve holes tested the Da Tambuk deposit, and three holes tested the Silica Hill North area at Mato Bula.
Highlight intersections from the Da Tambuk infill drilling include;
- 8.14 metres at 26.84 grams per tonne gold including 4.14 metres at 52.42 grams per tonne gold, from 83.40 metres drill depth (ADD020 - Section 23640N).
- 25.15 metres at 3.81 grams per tonne gold including 9.00 metres at 7.68 grams per tonne gold, from 119.85 metres drill depth (ADD017 - Section 23720N).
Adyabo Diamond Drill results
| Hole ID | From (m) | To (m) | Interval(m) (1) | Gold (grams/tonne) (2),(3) | Copper(%) | Local Azimuth | Dip | Prospect | |||||||||
| ADD013 | 118.50 | 119.45 | 0.95 | 3.74 | 0.03 | 88 | -57 | Da Tambuk | |||||||||
| ADD014 | No Significant Results | 90 | -53 | Da Tambuk | |||||||||||||
| ADD015 | No Significant Results | 87 | -62 | Da Tambuk | |||||||||||||
| ADD016 | 59.63 | 61.03 | 1.40 | 3.55 | 0.36 | 88 | -48 | Da Tambuk | |||||||||
| ADD017 | 119.85 | 145.00 | 25.15 | 3.81 | 0.23 | 90 | -49 | Da Tambuk | |||||||||
| including | 135.00 | 144.00 | 9.00 | 7.68 | 0.11 | ||||||||||||
| ADD018 | 90.40 | 97.30 | 6.90 | 6.41 | 0.23 | 89 | -47 | Da Tambuk | |||||||||
| 102.30 | 104.30 | 2.00 | 1.18 | 0.07 | |||||||||||||
| ADD019 | 38.05 | 39.05 | 1.00 | 12.80 | 0.06 | 88 | -41 | Da Tambuk | |||||||||
| 49.40 | 55.40 | 6.00 | 2.38 | 0.03 | |||||||||||||
| ADD020 | 83.40 | 91.54 | 8.14 | 26.84 | 0.22 | 88 | -47 | Da Tambuk | |||||||||
| including | 84.40 | 88.54 | 4.14 | 52.42 | 0.43 | ||||||||||||
| ADD021 | 97.10 | 99.10 | 2.00 | 16.91 | 0.05 | 88 | -61 | Da Tambuk | |||||||||
| 109.90 | 117.40 | 7.50 | 0.68 | 0.16 | |||||||||||||
| ADD022 | 25.30 | 34.40 | 9.10 | 1.28 | 0.08 | 90 | -49 | Da Tambuk | |||||||||
| ADD023 | 59.20 | 62.05 | 2.85 | 1.21 | 0.09 | 88 | -47 | Da Tambuk | |||||||||
| ADD024 | 41.15 | 46.60 | 5.45 | 1.50 | 0.21 | 91 | -47 | Da Tambuk | |||||||||
| WMD058 | 91.62 | 99.45 | 7.83 | 3.90 | 0.30 | 316 | -70 | Mato Bula-Silica Hill N. | |||||||||
| WMD059 | No significant values | 75 | -46 | Mato Bula-Silica Hill N. | |||||||||||||
| WMD060 | No significant values | 315 | -60 | Mato Bula-Silica Hill N. | |||||||||||||
(1) True thicknesses are interpreted as 60-90% of stated intervals.
(2) Intervals use a 0.3 gram per tonne gold cutoff value.
(3) No top cut has been used on assay values. The intersection in ADD020 hosts a 0.80 metre interval grading 251.60 g/t Au.
Additionally, systematic trenching has been completed in the areas overlying defined resources, to assist in resource definition. Trench results highlights include;
- 11.0 metres at 3.26 grams per tonne gold, from 0.0 metres, and 16 metres at 6.06 grams per tonne gold, from 20.0 metres, in Trench WST0394,5,6.
- 12.0 metres at 1.95 grams per tonne gold, from 7.0 metres, and 17 metres at 14.70 grams per tonne gold, from 41.0 metres, in Trench WST0414,5,6.
- 4.0 metres at 5.23 grams per tonne gold, from 2.0 metres, in Trench ADT0214,5,6.
(4) True thicknesses are interpreted as 80-100% of stated intervals.
(5) Intervals use a 0.3 gram per tonne gold cutoff value.
(6) No top cut has been used on assay values.
A complete list of drill and trench data, including drill plan maps, is located here.
Forward Program
East Africa will continue to advance both its Harvest and Adyabo projects in Northern Ethiopia. A resource update will be initiated at Adyabo for Mato Bula and Da Tambuk, and is estimated for completion early in the second quarter 2016. Following the update, a review will be conducted to determine further potential upgrades to the identified resources. At Harvest, engineering and metallurgical testing is currently being carried out on samples from metallurgy-specific diamond drilling conducted at the Terakimti Oxide deposit in the fourth quarter of 2015.
Quality Control
The planning, execution, and monitoring of East Africa's drilling and quality control programs at the Adyabo Project has been conducted under the supervision of Jeff Heidema, P.Geo., East Africa's Vice President Exploration. Mr. Heidema is a "Qualified Person" as defined by NI 43-101, and has reviewed and approved the geological information contained in this news release. Diamond drilling was coordinated by East Africa's contract geologists who also managed the preparation, logging, and sampling of core and rock samples, in addition to carrying out bulk density measurements. During sampling, quality control standards and blanks were introduced at pre-determined intervals to monitor laboratory performance. A system of field, reject, and pulp sample duplicates was also incorporated, as were specific programs of re-assaying and umpire lab assaying to both monitor laboratory performance and also characterize potential mineralization; all consistent with industry best practice.
Drill core samples have undergone preliminary preparation at the Bureau Veritas Mineral 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 core analyses utilizing Aqua Regia digestion and both ICP-ES (AQ370 package) and ICP-MS/ICP-ES (AQ270 package) 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 (FA430, FA530-Au packages).
Information recorded from diamond drill core assaying was integrated using industry standard data management software (Maxwell Datashed).
About East Africa
The Company's principal assets and interests include both the 70%-owned Harvest polymetallic VMS exploration Project, which covers approximately 86 square kilometres in the Tigray region of Ethiopia, 600 kilometres north €northwest of the capital city of Addis Ababa, and the Adyabo Project, covering 225 square kilometres immediately west of the Harvest Project. The Company owns 80% of the Adyabo Project, and upon execution of an NSR agreement the Company will own 100% of the Adyabo Project, subject to a 2% NSR. East Africa now has mineral resources defined at both projects in Ethiopia and continues to test priority targets. 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. East Africa has entered into a definitive agreement with an arm's length private exploration and development company to advance the project.
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; the closing of the agreement with the exploration and development company to advance 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 Adyabo, Harvest and Magambazi Projects; 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.
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Contact
For further information contact:
Nick Watters
Business Development
Telephone +1 (604) 488-0822
Email nwatters@eastafricametals.com
Website www.eastafricametals.com