SOURCE: East Africa Metals

East Africa Metals

March 27, 2017 03:15 ET

East Africa Metals Intersects 21.19 metres grading 4.32% copper, 1.04 grams per tonne gold, 35.9 grams per tonne silver, and 6.98% zinc at the Mayshehagne VMS prospect, continues both resource and exploration diamond drilling

VANCOUVER, BC--(Marketwired - March 27, 2017) - East Africa Metals Inc. (TSX VENTURE: EAM) (or the "Company") is pleased to announce results from a multi targeted drill program at the Harvest and Adyabo Projects in the Arabian Nubian Shield of Ethiopia. The Company has conducted additional drill testing of the Harvest Project Mayshehagne and VTEM09 VMS prospects to potentially upgrade targets, confirm interpretation of mineralization, and assess targets for inclusion as potential satellite resource zones. Both prospects are located near the EAM's Terakimti resource deposit. Drill intercepts continue to reflect very strong metal grades seen in previous drilling, and identifies the need for further delineation work on the VMS prospects.

Additionally, infill drilling has continued at the Adyabo Project Mato Bula and Da Tambuk resource deposits, with a 5,000 metre diamond infill drilling program in progress at Mato Bula. Results of Mato Bula Silica Hill infill drilling are also included in this release.

Highlight intersections include:

  • At Silica Hill - 31.55 metres grading 9.40 grams per tonne gold, and 0.10 % copper, from 111.32 metres drill depth, and;
  • At VTEM09 - 24.06 metres grading 1.88 % copper, 3.08 grams per tonne gold, 66.4 grams per tonne silver, and 2.54 % zinc, from 35.84 metres drill depth, and;
  • At Mayshehagne - 21.19 metres grading 4.32 % copper, 1.04 grams per tonne gold, 35.9 grams per tonne silver, and 6.98 % zinc, from 36.58 metres drill depth.

Harvest VMS Prospect diamond drilling

A total of 9 diamond drillholes have been completed at the Mayshehagne and VTEM09 VMS prospects. Results confirm the high base and precious metal grades encountered in previous drilling, and provide encouragement in assessing the prospects for further exploration, in parallel with Terakimti advancement. As a VMS prospect, Mayshehagne intercepts exhibit notably high grade base metal values, whereas intercepts at VTEM09 exhibit notably high grade precious metal values.

Mayshehagne and VTEM09 diamond drill intercepts

  Hole ID     From (m)   To  (m)   Interval (m)1   Copper        %   Gold          g/t2     Silver  g/t   Zinc %   Local Azimuth   Dip   Prospect
  HD011     36.58   57.77   21.19   4.32   1.04     35.9   6.98   90   -55   Mayshehagne
  including   36.58   46.60   10.02   7.74   1.89     59.4   8.39  
  including   52.60   56.00   3.40   2.84   0.62     40.0   14.24  
  HD012     58.84   71.07   12.23   5.15   1.07     35.9   3.09   90   -53   Mayshehagne
  HD013     80.50   93.26   12.76   0.40   0.13     1.30   0.25   90   -54   Mayshehagne
  HD014     26.15   36.95   10.80   5.86   1.22     42.1   5.82   80   -65   Mayshehagne
  including   26.15   32.10   5.95   8.18   1.74     62.8   8.18
  TVD006     39.00   49.65   10.65   3.09   5.23     68.6   4.25   263   -49   VTEM09
  TVD007     65.53   72.25   6.72   0.84   1.32     57.3   3.62   263   -66   VTEM09
  TVD008   No Significant Results   90   -65   VTEM09
  TVD009     35.84   59.90   24.06   1.88   3.08     66.4   2.54   270   -50   VTEM09
  including   46.23   57.90   11.67   2.93   5.15     105.8   4.89
  TVD010   No Significant Results   270   -50   VTEM09
                            

1True thicknesses are interpreted as 50-90% of stated intervals.

2No topcut has been used on analyses

Mato Bula Deposit diamond drilling

Work continues on upgrading the resource at the Mato Bula deposit, initially with a short infill drill program in the Silica Hill area, and a larger 5,000 metre infill program in the southern portion of the deposit. Large diameter core drilling was conducted on the central area of Silica Hill.

Results have been received for the initial Silica Hill drilling, and the larger 5,000 metre program is on-going with drilling completion estimated for the end of April 2017, and results expected prior to the end of Q2 2017.

Mato Bula diamond drill intercepts

Hole ID   From (m) To     (m) Interval (m)1   Gold g/t2,3 Copper % Local Azimuth Dip Prospect
WMD061   105.84 126.26 20.42   8.52 0.34 84 -55 Mato Bula
including 106.84 123.45 16.61   10.36 0.35
including 106.84 116.84 10.00   15.02 0.37
WMD062   101.70 119.13 17.43   1.46 0.11 84 -45 Mato Bula
including 108.20 117.50 9.30   2.22 0.16
  125.26 130.26 5.00   1.78 0.04
WMD063   92.85 118.55 25.70   5.06 0.19 84 -47 Mato Bula
including 92.85 105.47 12.62   9.21 0.32
including 99.47 105.47 6.00   14.84 0.44
WMD064   111.32 142.87 31.55   9.40 0.10 84 -50 Mato Bula
including 119.10 125.10 6.00   44.33 0.23

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

Continuing Exploration

The first phase of an IP program targeted at the Mato Bula area has started mobilization. Results from this work are expected to help geophysically define the present deposit mineralized signature, identify additional drill targets, and provide guidance for EAM in the potential for rolling out a larger scale IP program over the entire multi-kilometre Mato Bula trend.

Additionally, as part of this phase of exploration, once exploration licence extensions are granted, EAM will conduct diamond drilling on other existing priority targets.

Quality Control

The planning, execution, and monitoring of EAM's drilling and quality control programs at the Harvest and Adyabo Projects has been conducted under the supervision of Jeff Heidema, P.Geo., EAM'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 EAM'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 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 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 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, 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/2017/3/26/11G134114/Mayshehagne_Drill_Collar_Map-42953c49a850b6c1b5fcf708cdc9360a.pdf
Attachment Available: http://www.marketwire.com/library/MwGo/2017/3/26/11G134114/Mato_Bula_Long_Section-67db448eb928b0d2bd627f492f027f15.pdf
Attachment Available: http://www.marketwire.com/library/MwGo/2017/3/26/11G134114/Mato_Bula_Drill_Collar_Map-3ed3435203b79d14831d1ff7e9b16956.pdf
Attachment Available: http://www.marketwire.com/library/MwGo/2017/3/26/11G134114/VTEM09_Drill_Collar_Map-689f16dd22b39293aff59ac28c2754d5.pdf

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