SOURCE: East Africa Metals

East Africa Metals

April 24, 2017 03:15 ET

East Africa Metals Intersects 20 metres grading 4.7 grams per tonne gold and 4.7 grams per tonne silver at Da Tambuk, continues intersecting high grade gold intervals during infill drilling in Ethiopia; identifies extension to mineralization at Mato Bula

VANCOUVER, BC--(Marketwired - April 24, 2017) - East Africa Metals Inc. (TSX VENTURE: EAM) ("East Africa" or the "Company") is pleased to announce newly received results from on-going diamond drilling at the Adyabo Project in Ethiopia. Four holes have been completed at Da Tambuk, as part of a detailed infill program in the central area of the resource, and results for a total of eleven holes have been received from the Mato Bula south 40m x40m infill drill program.

Highlight intersections include:

  • At Da Tambuk - 20.00 metres grading 4.70 grams per tonne gold, and 4.7 grams per tonne silver, from 105.00 metres drill depth (ADD025);
  • At Da Tambuk - 8.61 metres grading 7.38 grams per tonne gold, and 23.1 grams per tonne silver, from 101.39 metres drill depth (ADD026);
  • At Mato Bula - 5.72 metres grading 6.06 grams per tonne gold, from 50.78 metres drill depth (WMD066), and;
  • At Mato Bula - 23.00 metres grading 1.27 grams per tonne gold, 0.51% copper, 6.1 grams per tonne silver, and 0.60% zinc, including 4.00 metres grading 4.54 grams per tonne gold, 0.70% copper, 6.5 grams per tonne silver, and 0.09% zinc, from 185.30 metres drill depth (WMD069).

Mato Bula Deposit diamond drilling

Work continues on upgrading the existing mineral resource at the Mato Bula deposit and infill drilling is on-going. The current diamond drilling is concentrated on defining the Upper and Main Lodes of the southern section of the deposit. The lodes comprise two near-vertically dipping mineralized horizons situated roughly 30 metres apart within the presently defined deposit resource.

At the southernmost extent of the resource, the Upper Lode metal contents host demonstrably more significant concentrations of copper, silver, and zinc within a wider sulphidic mineralized zone, and locally exhibit exhalative textures. The most recent drilling has extended this new mineralized zone, both lateral to the south and to depth, and the zone remains open in both directions (see Upper Lode-VMS extension zone). It is anticipated that the currently planned IP survey will assist in defining the spatial nature and extent of this newly identified zone of mineralization at depth.

The present drill program is scheduled for completion in early May, with final results expected near the end of Q2 2017.

Da Tambuk and Mato Bula 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
ADD025      105.00   125.00   20.00   4.70   0.20   4.7   0.26   87   -51    Da Tambuk
  including   115.00   120.00   5.00   13.80   0.10   7.3   0.36  
ADD026      92.00   95.81   3.81   2.88   0.32   5.5   0.07   87   -49    Da Tambuk
     98.49   110.00   11.51   5.60   0.31   21.3   0.75  
  including   101.39   110.00   8.61   7.38   0.33   23.1   0.73  
ADD027      82.50   85.00   2.50   2.43   0.39   3.8   0.06   88   -49    Da Tambuk
     88.80   94.00   5.20   0.78   0.09   4.3   0.34  
     110.00   114.00   4.00   1.11   0.08   4.0   0.37  
ADD028      87.00   103.54   16.54   2.63   0.08   2.0   0.07   85   -46    Da Tambuk
     115.00   118.00   3.00   2.15   0.05   2.4   0.20  
     130.00   133.00   3.00   0.79   0.02   1.8   0.22  
WMD065      36.58   47.00   10.42   0.97   0.23   0.50   0.0   270   -47    Mato Bula
     105.00   112.59   7.59   1.82   0.64   10.1   1.02  
WMD066      50.78   56.50   5.72   6.06   0.28   0.7   0.03   270   -47    Mato Bula
     86.50   96.25   9.75   1.10   0.27   4.5   0.06  
WMD067      19.81   23.86   4.05   1.76   0.01   2.2   0.00   270   -66    Mato Bula
     65.09   68.09   3.00   1.79   0.68   2.0   0.05  
WMD068      94.00   96.00   2.00   5.48   0.83   1.7   0.00   270   -47    Mato Bula
     109.00   119.00   10.00   1.93   0.90   10.8   0.71  
  including   112.39   117.00   4.61   3.59   1.47   18.7   1.29  
WMD069      162.30   185.30   23.00   1.27   0.51   6.1   0.60   270   -50    Mato Bula
  including   175.30   179.30   4.00   4.54   0.70   6.5   0.09  
WMD070      152.90   158.50   5.60   0.82   0.34   3.6   0.21   270   -49    Mato Bula
WMD071      267.43   283.72   16.29   0.98   0.58   9.6   0.88   270   -54    Mato Bula
WMD072      79.67   97.33   17.66   1.63   0.77   1.1   0.00   270   -50    Mato Bula
  including   94.92   97.33   2.41   9.30   4.41   5.0   0.00  
WMD073      46.80   54.50   7.70   3.75   0.38   0.9   0.00   270   -47    Mato Bula
     59.50   65.00   5.50   2.09   1.05   1.2   0.00  
WMD074      216.60   237.00   20.40   1.09   0.43   12.8   0.61   270   -62    Mato Bula
  including   223.30   229.00   5.70   2.41   0.52   11.6   0.47  
WMD075      62.30   66.50   4.20   0.92   0.47   1.2   0.00   270   -47    Mato Bula
     77.25   85.67   8.42   0.56   0.34   6.5   0.97  
     97.83   120.54   22.71   0.42   0.35   5.0   0.16  

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

2 No topcut has been used on analyses

3 Intervals 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, 2015, management's discussion and analysis for the three and nine months ended September 30, 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/2017/4/23/11G136641/Mato_Bula_Upper_LongSection-27382f980cbc861f8065dc2e878e9a1c.pdf
Attachment Available: http://www.marketwire.com/library/MwGo/2017/4/23/11G136641/Mato_Bula_Drill_Collar_Map-dc02c65591aeb2059e0b1f873360618c.pdf
Attachment Available: http://www.marketwire.com/library/MwGo/2017/4/23/11G136641/MB_Main_Long_Section-eeaef11a951ba77c9eb1e25875e8960e.pdf
Attachment Available: http://www.marketwire.com/library/MwGo/2017/4/23/11G136641/DT_Long_Section-b05a8bfc3bfba0ca98b203db0cc9fdbf.pdf
Attachment Available: http://www.marketwire.com/library/MwGo/2017/4/23/11G136641/Da_Tambuk_Drill_Collar_Map-c8fa73df62daa7589d2540099aacceb7.pdf

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