Positive Drilling Results from East Asia Minerals' Sangihe Island Project in Indonesia
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 05/29/13 -- East Asia Minerals Corporation (TSX VENTURE:EAS) ("East Asia Minerals" or "the Company") today announces additional positive results from its Phase 1 Drilling Program at the Company's Sangihe Project in Indonesia.
"These results should increase the resources, tonnages and grades identified in the NI 43-101 technical report for Bawone," said Frank Rocca, Vice President of Exploration at East Asia Minerals. "We are excited by the latest results at Bawone as hole BOD097 has extended the resource to the South East and shows the mineralisation is open along strike in this direction and will be further tested by the drill holes planned in the Phase II drilling program. The Phase 1 Drilling program is complete with all assay results received. We have started metallurgical studies to consider our processing options."
"The results further highlight the potential at Sangihe to increase the existing mineral resources of both our main prospects on Sangihe Island," added Ed Rochette, CEO of East Asia Minerals.
The assay results for BOD099 show a significant intercept of 11m length from 62.5m to 73.5m down hole which has an average gold and copper grade of 1.14g/t and 0.4%. This intercept will extend the eastern extent of the resource at Bawone. The final drill hole BOD097 in Phase 1 contains a significant intercept of 19.2m length down hole from 86.5m to 105.7m which has an average gold and copper grade of 3.13g/t and 0.55%.
The second phase of drilling is being considered to begin in the latter half of 2013. Phase 2 will comprise of 10,000 metres. The objective will be to identify resource extensions and definitions at Binebase, Bawone and Taware. The company will also drill scout holes to test for extensions from Bawone to Salurlang. Further scout holes are planned for the Kuring and Kupa valley prospects. Kuring and Kupa are known to contain high-grade veins and have extensive artisanal mining activity. Trenching samples retrieved by the company from Kupa have been assayed at in excess of 30 g/t of gold.
The Sangihe Gold-Copper Project is located on the island of Sangihe off the northern coast of Sulawesi in Indonesia. Sangihe has an existing NI 43-101 inferred mineral resource of 836,718 ounces of gold and 11,927,237 ounces of silver (using a 0.25 g/t gold cut-off).
Cautionary Statement Regarding Forward-Looking Statements
This news release contains forward-looking statements as to the potential results that may be achieved by the Company's second phase of drilling at Sangihe Island Project. The forward-looking statements are based on expectations, estimates and projections as of this date. Such forward-looking statements are identified by words such as "estimates", "intends", "plans", "expects", "believes", "may" and "will" and include, without limitation, the statements as to next steps and goals. There is no assurance that the Company will be able to achieve any of the goals referred to in this news release. Although management considers such statements to be reasonable, actual results could differ materially from those anticipated in such statements. Factors that could cause actual results to differ materially from the Company's plans or expectations include, without limitation, the unpredictable nature of drilling programs and metallurgical work. Accordingly, the reader should not place undue reliance on forward-looking information. The forward-looking statements contained in this news release represent the Company's views and expectations as of the date of this release and should not be relied upon as representing its views and expectations at any subsequent date. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as required by applicable securities legislation.
About East Asia Minerals Corporation
East Asia Minerals is an Asian-based, Canadian mineral exploration company with gold and copper exploration properties in Indonesia. The Company has a 70 to 85% interest in three advanced gold and gold-copper properties located in Aceh Province, Sumatra, and Sangihe Island, North Sulawesi which have a NI 43-101 compliant inferred resource of over 4 million ounces of gold. Its shares are listed for trading on the TSX Venture Exchange under the symbol "EAS".
Frank Rocca, AusIMM, Vice President Exploration of the Company, and a qualified person under National Instrument 43-101, has reviewed and approved the scientific and technical information in this press release.
East Asia Minerals Corporation
Edward Rochette, CEO
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