East Asia Minerals Finds More Gold at Sipopok; Scout Drilling Planned to Commence Mid-December
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/02/10 -- East Asia Minerals Corporation (TSX VENTURE: EAS) announces that it continues to encounter significant gold from the Sipopok area at its Miwah Gold Project in Aceh Province, North Sumatra, Indonesia. The latest results from a batch of one-metre long rock sawn channel samples have encountered up to 1.64 g/t gold. Upon completion of a hole currently being drilled with the 200-metre capacity diamond drill machine, the rig will be moved to Sipopok. This machine will continue with exploration drilling, whilst a fourth and larger machine is being mobilized to the property to assist in the Miwah resource estimate drilling.
On January 21, 2009, East Asia announced that it had discovered another mineralized zone at Sipopok, located approximately 1.5 kilometres north of the Miwah Main Zone. Initial rock chip channel sampling returned anomalous gold values including 12 metres of 0.78 g/t gold, 11 metres of 0.45 g/t gold and 35 metres of 0.33 g/t gold. Recent follow-up has encountered several contiguous one-metre long gold-bearing rock sawn channel samples including 1.18, 0.81, 0.38, 0.21, 0.43, 1.64, 0.87, 0.17, 0.14 and 0.11 g/t gold (Refer to Sipopok Prospect Rock Geochemistry map at www.EAminerals.com).
The sampling has only partially tested a small part of this potentially large mineralized system. The host is altered to quartz-alunite which is typical of the peripheral parts of the Miwah high sulphidation system. Drill targets have been generated to test for the presence of vuggy residual silica which typically carries the better gold grades at Miwah. Drilling at Sipopok is expected to commence by mid-December.
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. Moon River is part of a package of altered and mineralized rock that has distinctive chargeability, resistivity and magnetic signatures that extend all the way from the Miwah Main Zone to Sipopok, approximately 1.5 kilometres to the north. Although in the early exploration stage, the Company is greatly encouraged by the way all the pieces are fitting together.
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 eight 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