SOURCE: East Africa Metals

East Africa Metals

May 29, 2017 03:05 ET

East Africa Metals completes Mato Bula infill diamond drill program, most recent intersections include 12.60 metres grading 12.59 grams per tonne gold, 0.66% copper, and 1.5 grams per tonne silver.

VANCOUVER, BC--(Marketwired - May 29, 2017) - East Africa Metals Inc.(TSX VENTURE: EAM) ("East Africa" or the "Company") is pleased to announce newly received results from recently completed infill diamond drilling at the Adyabo Project, Mato Bula deposit in Ethiopia.

Highlight intersections include:

  • At Mato Bula - 12.60 metres grading 12.59 grams per tonne gold, 0.66% copper, and 1.5 grams per tonne silver, from 77.40 metres drill depth (WMD085), and;
  • At Mato Bula - 7.60 metres grading 14.59 grams per tonne gold, 0.62% copper, and 1.5 grams per tonne silver, from 150.40 metres drill depth (WMD086).

Adyabo Project Mato Bula work program

The Mato Bula infill diamond drill program was concluded on May 15, 2017. A total of 7,025 metres in 49 holes were completed. Geophysical I.P. survey work continues on site, and is expected to be completed in early June 2017. The most recent drill results received are outlined below.

Mato Bula infill diamond drill intercepts

Hole ID   From (m) To (m) Interval (m) 1 Gold          g/t2,3 Copper      % Silver        g/t Zinc              % Local Azimuth Dip Prospect
WMD076   16.24 19.00 2.76 5.13 0.04 1.7 0.01 270 -45 Mato Bula
  40.01 46.00 5.99 2.29 0.26 8.0 0.30
WMD077   30.00 36.00 6.00 1.36 0.55 1.2 0.02 270 -69 Mato Bula
  63.80 67.00 3.20 0.92 0.21 4.1 1.11
  71.80 93.00 21.2^^ 0.28 0.23 4.7 1.02
including 88.00 93.00 5.00 0.47 0.32 6.3 0.57
WMD078   40.23 41.00 0.77 1.90 0.14 0.0 0.01 270 -49 Mato Bula
  143.26 147.00 3.74 4.22 1.13 1.2 0.00
  151.30 154.90 3.60 0.51 1.70 2.6 0.00
  228.00 232.73 4.73^^ 0.25 0.28 6.8 1.57
WMD079   34.30 40.64 6.34 0.54 0.01 1.7 0.00 270 -45 Mato Bula
  50.00 53.80 3.80 4.84 0.52 5.9 0.06
WMD080   105.00 110.00 5.00 0.61 0.90 1.8 0.00 270 -63 Mato Bula
  129.00 135.00 6.00 5.39 0.06 1.1 0.00
including 133.00 135.00 2.00 14.95 0.06 2.0 0.00
WMD081   22.86 25.91 3.05 2.24 0.00 0.2 0.00 270 -47 Mato Bula
WMD082   47.00 50.00 3.00 0.81 0.93 0.6 0.00 270 -47 Mato Bula
  81.00 81.58 0.58 2.17 0.37 0.0 0.00
WMD083   214.91 218.30 3.39^^ 0.68 0.18 11.8 2.41 270 -62 Mato Bula
  216.30 220.30 4.00 0.76 0.25 11.2 0.34
WMD084   96.07 97.30 1.23 1.89 0.86 1.1 0.00 270 -49 Mato Bula
  125.00 127.00 2.00 4.25 0.21 0.0 0.00
  135.48 135.93 0.45 12.30 0.95 19.3 0.05
WMD085   77.40 90.00 12.60 12.59 0.66 1.5 0.03 270 -56 Mato Bula
  146.22 153.53 7.31 0.80 0.45 3.3 0.08
WMD086   150.40 158.00 7.60 14.59 0.62 1.5 0.03 270 -58 Mato Bula
including 153.00 155.65 2.65 37.12 1.44 3.6 0.03
WMD087   101.53 108.40 6.87 3.74 0.29 0.7 0.02 270 -48 Mato Bula
WMD088   108.70 123.00 14.30 2.39 0.26 0.6 0.01 270 -51 Mato Bula
including 108.70 115.00 6.30 4.59 0.44 1.2 0.02
  131.00 135.00 4.00 2.64 1.14 2.8 0.01

1True thicknesses are interpreted as 60-90% of stated intervals.

2No topcut has been used on analyses

3Intervals use a 0.3 gram per tonne gold cutoff value

^^Zinc interval, not subject to gold cutoff criteria

Harvest Project Update

Diamond drilling results were also received for the Lihamat drill program, as described below.

Hole ID   From (m) To (m) Interval (m) 1  Gold g/t2,3 Local Azimuth Dip Prospect
LD001   49.00 51.00 2.00  9.840 90 -59 Lihamat
LD002   35.00 36.00 1.00  4.300 90 -54 Lihamat
  61.00 62.00 1.00  4.370
LD003   No Significant Results 90 -56 Lihamat
LD004   15.50 17.00 1.50  3.300 90 -61 Lihamat

1True thicknesses are interpreted as 60-90% of stated intervals.

2No topcut has been used on analyses

3Intervals use a 0.3 gram per tonne gold cutoff value

Diagrams illustrating recent drilling results are attached and available on the website.

Quality Control

The planning, execution, and monitoring of East Africa's drilling and quality control programs at the Harvest and Adyabo Projects 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 both the Turkey facility and the Bureau Veritas Mineral Laboratories in Vancouver, Canada, with diamond drill core analyses utilizing Aqua Regia digestion and ICP-ES for base metal and silver analyses (AQ370 package), and Infill sample program utilizing Aqua Regia digestion and ICP-MS/ICP-ES (AQ270 package) for base metal and silver analyses. Gold analyses are conducted at the Turkey Bureau Veritas Mineral Laboratories facility 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).

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 the Company 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 the Company 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 the Company's projections and estimates, including the initial mineral resource for the Adyabo, Harvest and Magambazi Projects; mining licence/permit applications, estimated exploration licence extensions, 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/or projects; and changes in project parameters as plans continue to be refined, as well as those risk factors set out in the Company's management's discussion and analysis for the year end December 31, 2016 and the Company's listing application dated July 8, 2013. Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to 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, the renewal or extension of exploration licences, and such other assumptions and factors as set out herein. Although the Company 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.

Attachment Available: http://www.marketwire.com/library/MwGo/2017/5/27/11G139828/1705_Lihamat_Drill_Collar_Map-b5e0d793b47386a0ac66982b0df71472.pdf
Attachment Available: http://www.marketwire.com/library/MwGo/2017/5/27/11G139828/170529_MB_Main_LongSection-c65b853e6f9d87f78ff6f528ec01831f.pdf
Attachment Available: http://www.marketwire.com/library/MwGo/2017/5/27/11G139828/1705_Mato_Bula_Drill_Collar_Map-8c20b12d582eb353a78ecf3cb25e401c.pdf
Attachment Available: http://www.marketwire.com/library/MwGo/2017/5/27/11G139828/170529_Mato_Bula_Upper_LongSection-b03ede0ec287a0bf8f2237b01632270d.pdf

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