East Asia Minerals Corporation

East Asia Minerals Corporation

August 27, 2010 08:30 ET

East Asia Updates Miwah Program-Continues to Encounter Gold

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 27, 2010) - East Asia Minerals Corporation (TSX VENTURE:EAS) announces that drilling at the Miwah Project in Aceh Province, Northern Sumatra, Indonesia, continues to build on and increase the understanding of the Miwah gold deposit. With the third drill rig on site, the pace of drilling has increased substantially.

EMD037B was drilled as a replacement hole for EMD037, which was abandoned at 186.3 metres in high-grade gold mineralization due to difficult ground conditions (1.43 g/t gold from 37 to 186.3 metres, including 4.27 g/t gold from 164.4 to 186.3). EMD037B was completed at 321.8 metres with a 129 degree azimuth and 45 degree dip to validate a large area to the east of EMD033 and to continue to prove up the potential to connect the Miwah Main Zone with the Moon River area. It was drilled towards EMD008-012A (EMD-008 assayed 2.11 g/t gold over 100 metres, including 4.81 g/t gold over 30 metres; and EMD012A assayed 1.28 g/t gold over 183.5 metres, including 1.79 g/t gold over 113.2 metres and 2.11 g/t gold over 77.7 metres) and encountered 0.50 g/t gold from 40 to 299 metres (259 metres), including 0.76 g/t gold from 40 to 100 metres (60 metres) and 0.84 g/t gold from 150.5 to 223 metres (72.5 metres). The difference in gold grade from abandoned EMD037 is due to increased variability in alteration and less overall silicification, attributed to drilling in a structural corridor. The mineralization is open to the north, east and at depth, and is interpreted to be contiguous to gold-rich holes drilled in all other directions.

EMD038 was drilled with a due south azimuth and 55 degree dip to test for the down-faulted mineralized block intersected in EMD032 and partially intersected in EMD036. The hole was stopped at 174.3 metres due to drilling difficulties and the appearance of quartz diorite porphyry from 151.8 to the end of hole. The presence of intrusive rock, combined with elevated faulting in this area, resulted in EMD038 being less intensively silica altered than typical of the Miwah Main Zone. It is interpreted that this diorite and faulting is local and that the more intensely altered gold-bearing horizon exists along strike in all directions. Assays are pending for silica-alunite altered horizons in the upper parts of the hole.

EMD039 was drilled with a 274 degree azimuth and 50 degree dip to test for continuity between EMD008 (2.11 g/t gold over 100 metres, including 4.81 g/t gold over 30 metres) and EMD014 (1.38 g/t gold over 101 metres, including 1.95 g/t gold over 58 metres). The hole was completed at 205.5 metres and encountered multiple intervals of visually favourable alteration/mineralization from 31.8 metres to the end of hole where it finished in favourable host rock. Geology in this area is controlled by a northwest structural corridor. Assays are pending.

EMD040 was drilled with a 210 degree azimuth and 55 degree dip to test for continuity of mineralization towards EMD033, and was completed at 341.3 metres. The hole encountered visually favourable alteration/mineralization from 55.5 to 147.2 metres, 179.8 to 233.4 metres, 252.2 to 269.6 metres, and 319.5 to 337.2 metres. Assays are pending.

EMD041 was drilled with a 22 degree azimuth and 55 degree dip to test for mineralization north from the EMD008-011 Block M area of the Miwah Main Zone, towards the Moon River area. The hole encountered favourable alteration/mineralization from 84.8 metres through to the end of hole at 211.8 metres. Assays are pending.

EMD042 was drilled with a 302 degree azimuth and 35 degree dip to test for the extension of mineralization north of the Miwah Main Zone towards EMD037-037B. The hole encountered favourable alteration/mineralization from 66.1 to 97.6 metres and from 112.9 metres through to the end of hole at 210.4 metres. Assays are pending.

EMD043 was abandoned in favourable alteration/mineralization at 41.7 metres due to heavy rains resulting in unsafe drill pad conditions. The hole was originally designed with a 230 degree azimuth and 50 degree dip to test west from the Moon River area towards mineralization intersected in EMD033 and EMD037/037B. It has been replaced by EMD043B.

EMD043B has just commenced and is located 30 metres southwest of EMD043, using the same orientation to continue testing the original target west from the Moon River area.

EMD044 has just commenced and is a vertical drill hole designed to test for depth extent of mineralization encountered by EMD033 (1.34 g/t gold over 323.1 metres, including 1.51 g/t gold over 270.5 metres with 2.33 g/t gold over 89 metres followed by 1.87 g/t gold over 71 metres).

EXD001 is the first hole for the third diamond drill rig that was recently brought into the Miwah property to test farther reaching exploratory targets. EXD001 was drilled with a due east azimuth and 47 degree dip to test for gold mineralization west of the Miwah Main Zone, in the recently discovered Signal area. The hole was completed at 201.6 metres and encountered 1.43 g/t gold from 82.8 to 102.6 metres (19.8 metres), including 4.32 g/t gold from 98 to 102.6 metres (4.6 metres), and 0.82 g/t gold from 153 to 176 metres (23 metres). The mineralization is open in all directions.

EXD002 was drilled with a 20 degree azimuth and 50 degree dip to test for gold mineralization in the Signal area where trench assays include 1.35 g/t gold over 14 metres. The hole was stopped at 154.5 metres downhole in a large fault zone due to drilling difficulties. The Company interprets that the favourable alteration/mineralization encountered in this fault zone (147.3 to 154.5 metres) persists on the other side. On surface this zone correlates with a large northwest-southeast trending drainage, which is the northwest expression of the previously reported Rusa Fault Zone. Assays are pending.

EXD003 has just commenced with a due south azimuth and 55 degree dip to test for gold mineralization 100 metres north from EMD029, in the western Moon River area. Previous hole EMD029 encountered 1.07 g/t gold over 103.5 metres, including 2.01 g/t gold over 44 metres, extending the Miwah Main Zone north from EMD024 where 3.96 g/t gold over 111 metres, including 15.74 g/t gold over 22 metres was drilled (Refer to drill location map at www.EAminerals.com).

The Company also reports that in addition to a previously announced sample grading 2.78 g/t gold over 2 metres located 420 metres east of drill hole EMD016, the furthest east that East Asia Minerals has drilled the Miwah Main Zone, recent channel sampling encountered 2.22 g/t gold over 27.5 metres, 1.72 g/t gold over 4 metres and 2.27 g/t gold over 4 metres. These new results are located between 130 and 220 metres northeast of EMD016. Additional sampling in the discovery area encountered 3.04 g/t gold over 3 metres, located 390 east of EMD016 (Refer to East Block M sample location maps at www.EAminerals.com). This area will be drilled as part of the ongoing regional targeting of the Miwah Gold Zone.

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 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.

Miwah Background
The Miwah Gold Prospect was partially defined by approximately 3,100 metres of drilling in twelve holes by a previous explorer in 1997. All holes drilled during this program intersected significant alteration and mineralization with intercepts including 71 metres of 1.4 g/t gold and 58 metres of 1.1 g/t gold. The previous explorer suggested potential for 100 Mt at 1.1 to 1.2 g/t gold, however a review of the historical data indicates that early drilling was parallel to higher grade (greater than 5 g/t gold) structures at surface. Hence, in addition to greater mineralized tonnage, significantly higher overall grades are anticipated from better geological understanding, results of the Company's detailed sampling, and from the ongoing drill program which is based on increased geological understanding. An example is the intersection of 3.96 g/t gold over 111 metres, including 15.74 g/t gold over 22 metres from East Asia's diamond drill hole EMD024.

Based on the Company's work Miwah is resolving into two components; a large 1,200 metre long, at least 450 metre wide, approximately 200 metre thick tabular zone; and vertical diatreme breccia feeder zones that are beneath and cut through this. At Miwah Gold Zones, East Asia has almost 2,500 metres of rock sawn channel samples which average 2.35 g/t gold. Grade expectations in Main Miwah Gold Zone exceed 1.5 g/t gold. Ongoing sampling verified the Company's confidence that higher overall gold grades can be achieved due to the presence of multiple high grade rock sawn channel samples throughout the strike, including 4.11 g/t gold over 200 metres at the eastern part of the Main Miwah Gold Zone, and 4.35 g/t gold over 27 metres at the western part. Recent drilling has supported this. In addition to the tabular zone the Company has begun to characterize some of the diatreme breccia feeder zones, with rock sawn channel samples including 83.59 g/t gold over 24 metres and 20.14 g/t gold over 12 metres. Recent drilling has supported this. These feeder zones have great potential to develop into substantial tonnages of higher grade gold mineralization in an area adjacent to the Main Miwah Gold Zone.

The Miwah Property is in a very similar volcanic setting to the Martabe gold-silver deposit, also located in North Sumatra (Purnama and Baskara resources: 127.8 million tonnes at 1.4 g/t gold (5.5 million ounces gold) and 15 g/t silver (60 million ounces silver), and the alteration system is of a comparable size. Miwah also exhibits a likeness to the size, style and geometry of the alteration system developed at the Pierina gold deposit in Peru (67.7 Mt grading 2.98 g/t gold and 22 g/t silver, giving a total 6.49 million ounces gold and 47.9 million ounces silver).

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. East Asia has not verified the classification of the resource references and is not treating them as NI 43-101 defined resources verified by a QP. Although the references of resources are relevant to recognizing the potential of the Miwah project, they should not be relied upon.

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 75,580,872 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.

To receive or stop receiving EAS news via email, please email Info@EAminerals.com and state your preference in the subject line.

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 Information