East Asia Minerals Corporation
TSX VENTURE : EAS

East Asia Minerals Corporation

March 21, 2011 08:30 ET

East Asia Minerals Encounters 3.2 g/t Gold Over 34 Metres Within 172 Metres Grading 1.21 g/t Gold, Firmly Connecting Miwah Bluff and Block M

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 21, 2011) - East Asia Minerals Corporation (TSX VENTURE:EAS) announces that drilling has firmly established the connection between Block M and Miwah Bluff at the Miwah Main Zone in Aceh Province, Northern Sumatra, Indonesia. EMD059 encountered 1.21 g/t gold over 172 metres, including 3.2 g/t gold over 34 metres, 145 metres north of recently announced EMD058. In addition ongoing drilling has clearly demonstrated that the gold-hosting Miwah horizon continues north past the initial resource estimate block towards Moon River, providing immediate upside potential for future resource expansion.

The Company also reports;

  • assays for drill holes EMD059 to 061,
  • geological updates for completed holes EMD062 to 063 (assays pending),
  • updates for in-progress drill holes EMD064 to 067.

EMD059 was drilled with a 270 degree azimuth and 50 degree dip to infill alteration and mineralization between Block M and Miwah Bluff to the north of EMD058. The hole was completed at 400.2 metres and encountered 1.21 g/t gold from 129 to 301 metres (172 metres) including 3.2 g/t gold from 162.5 to 196.5 metres (34 metres). EMD059 is approximately 145 metres due north of the EMD058 intersection, which assayed 1.46 g/t gold over 159.5 metres including 2.28 g/t gold over 95 metres, and firmly establishes continuity between the eastern and western blocks of the Miwah Main Zone.

EMD060 was drilled with a 30 degree azimuth and 50 degree dip to test alteration and mineralization northeast of Block M towards Moon River. The hole was completed at 350.9 metres and encountered 0.40 g/t gold from 39.5 to 147 metres (107.5 metres) including 0.95 g/t gold from 57 to 90 metres (33 metres). The results support continuation of the favourable gold-hosting Miwah Horizon north towards Moon River and extending past the initial Miwah Main Zone resource block. 

EMD061 was drilled with a 40 degree azimuth and 60 degree dip in the west extreme of the resource estimate block. The hole was completed in mineralization at 211.8 metres and encountered 0.47 g/t gold from 44 to 53 metres (9 metres) and 0.34 g/t gold from 194 to 211.8 metres (17.8 metres).

EMD062 was drilled with a 225 degree azimuth and 70 degree dip to infill alteration and mineralization south of EMD058. The hole was completed at 311.2 metres and encountered favourable alteration/mineralization from 6.6 to 43.3 metres, 108.2 to 150.3 metres, 201.9 to 240.7 metres, 243.5 to 252.9 metres, and 277 to 287.9 metres. Assays are pending.

EMD063 was drilled with a 150 degree azimuth and 60 degree dip to test the northwest extension of alteration and mineralization intersected in EMD061. The hole was completed at 201.4 metres and encountered favourable alteration/mineralization from 75 to 113.3 metres, 119.1 to 124.1 metres, and 137.8 to 161.6 metres. Assays are pending.

EMD064 is being drilled with a 346 degree azimuth and 50 degree dip to infill lithology and alteration between Block M and Moon River. Drilling to date has encountered significant favourable alteration/mineralization intercalated throughout moderately to lesser altered host rock from 15.6 metres to the current depth of 245 metres where it is progressing well. The results support continuation of the favourable gold-hosting Miwah Horizon north towards Moon River and extending past the initial Miwah Main Zone resource block.

EMD065 is being drilled with a 45 degree azimuth and 50 degree dip to infill lithology and alteration between Block M and Moon River. The hole entered favourable alteration/mineralization at 101.4 metres, within which it continued to the current depth of 218 metres where it is progressing well. The results support continuation of the favourable gold-hosting Miwah Horizon north towards Moon River and extending past the initial Miwah Main Zone resource block.

EMD066 has just commenced with a 280 degree azimuth and 60 degree dip to test the west extension of alteration and mineralization intersected in EMD061, reaching west past the initial Miwah Main Zone resource block.

EMD067 is being prepared for drilling with a 310 degree azimuth and 55 degree dip to infill resource block lithology and alteration to the north of EMD026 and EMD059. (Refer to Miwah drill hole location map at www.EAminerals.com).

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 700 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.

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. The Company owns seven uranium properties, including the advanced Ingiin-Nars, Ulaan Nuur and Enger uranium projects, and two phosphate properties in Mongolia. East Asia currently has 77,089,872 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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