East Asia Minerals Provides Mongolia Uranium Program Update
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 7, 2011) - East Asia
Minerals Corporation (TSX VENTURE:EAS) wishes to report on the progress
of its 2011 summer drilling campaign at its wholly-owned uranium
projects located in Mongolia.
The drilling campaign was launched in August with the objectives of (a) meeting annual expenditure requirements to keep the projects in good standing; (b) test previously identified targets at the Enger and Ingenii-Nars projects; and (c) initiate early stage exploration at the Ulaan Nuur, Sevsuul Bulag, Bukht Uul and Unegt prospects.
East Asia Minerals has now completed the proposed summer 2011 drill program at the Enger project. The program consisted of four PCD-DDH (Polycrystalline Pre Collar-Diamond Drilling) holes and six air core holes for a total of 838 metres. All PCD-DDH holes have encountered the targeted uranium-bearing horizons with down-hole radiometrics supporting the geologic model. Samples from the diamond drill core sections of the holes have exhibited excellent recovery and have been sent to the laboratory for further analysis.
The Enger project was discovered in the mid 1980s by government prospecting teams who conducted at least 18 drill holes, which resulted in the delineation of a historical, non-NI43-101 compliant, resource of approximately 400,000 lbs. of U at an average grade of 0.065% U. East Asia Minerals first acquired the Enger project in August 2005 and actively drilled the property in 2006/07 to confirm the presence of this historical uranium mineralization. Key intercepts of the East Asia drilling campaigns of 2006/2007 included 2.5 metres of 0.410% U3O8 (ENDD003) and 13.5 metres of 0.108% U3O8 (ENDD005). In addition, the drilling supported the concept that the volcanic-hosted mineralization at Enger forms in a similar geological environment to that of the Gurvanbulag uranium deposit (Saddle Hills project) in northeast Mongolia.
To access this image, please go http://www.eaminerals.com/i/maps/2011-09-07_NRM1.jpg
Figure 1 - Enger plan view map with contact area mineralization and drill hole locations (refer to www.EAminerals.com for additional maps and drill sections).
To access this image, please go http://www.eaminerals.com/i/pdf/2011-09-07_NRM2.pdf
Figure 2 - Enger longitudinal section looking north (refer to www.EAminerals.com for additional drill sections).
For the PCD-DDH program, four holes (ENDD010, and ENDD016 to 018) ranging from 57 to 250 metres depth were drilled to test the southwest up-dip extension of the main mineralization, and up-dip extension of deeper mineralized horizons. All holes encountered the targeted uranium-bearing horizons with down-hole radiometrics supporting the geologic model. The shallower main mineralized horizons at the contact between volcanics and overlying sediments were successfully extended. In addition, a number of tabular or lens like zones were encountered within altered rhyolite and associated tuffs just beneath the contact zone. The southwest extension from deeper zones was encountered in the eastern area of drilling, whereas to the west there appears to be some cut-offs or off-setting due to faulting. The 2011 program has extended the Enger deposit up-dip to the southwest and remains open in all other directions.
For the air core drilling (EN01AC to EN06AC), two prospective areas were identified in the northeast sector of the property from a soil gas hydrocarbon geochemical survey and follow-up ground radiometric survey. East Asia drilled six shallow holes (20 to 54 metres depth), with two holes identifying early stage targets for further investigation in sediments. Hole EN001AC encountered an average of 610 cps (counts per second) from 1.8 to 3.5 metres depth, and drill hole EN005AC encountered 373 cps from 10.17 to 10.42 metres.
The following table presents the key drill intercepts from holes conducted by East Asia Minerals since acquiring the project in 2005. By comparing the cps readings with assay results of the 2006/07 drill programs, East Asia Minerals is encouraged by the results of the 2011 drill program. The 2011 cps results are indicative and validation will be determined when assays are received from the submitted core samples.
Table 1 - Key intercepts at Enger from East Asia Minerals' drilling since 2006 (also refer to www.EAminerals.com)
The drill rig at the Enger project has now been moved to the Ingenii-Nars project. The proposed drilling program at Ingenii-Nars is expected to include four PCD holes in the main zone of the sandstone-hosted uranium project. Additional drilling in other parts of the property had been planned and is now being reconsidered in light of this year's excessive wet conditions in the clay basin where the project is located.
EAS has not verified the classification of the historic resource reference and is not treating it as a NI 43-101 defined resource verified by a QP. Although this historical resource is relevant to recognizing the potential of the Enger Property, it should not be relied upon. Samples have been sent to Stewart Mongolia LLC Laboratory in Ulaanbaatar, Mongolia. Lionel Martin, P.Geo., the designated QP within the meaning of NI 43-101, has reviewed and approves the content of this release.
To receive or stop receiving EAS news via email, please email info@eaminerals.com and state your preference in the subject line.
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 three advanced gold and gold-copper properties located in Aceh Province, Sumatra, and Sangihe Island, North Sulawesi. The Company owns six uranium properties, including the advanced Ingiin-Nars, Ulaan Nuur and Enger uranium projects, and one phosphate properties in Mongolia. East Asia currently has 84,221,582 shares outstanding. Its shares are listed for trading on the TSX Venture Exchange under the symbol "EAS".
Caution Regarding Forward Looking Statements
Certain statements in this News Release, which are not historical in nature, constitute "forward looking statements" within the meaning of that phrase under applicable Canadian securities law. When used in this News Release, such statements use words such as "may", "will", "expect", "intend", "anticipate" and other similar terms. These statements reflect management's current assumptions and expectations regarding future results, performance or events as of the date hereof and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements. Forward looking statements involve significant risks and uncertainties and should not be read as guarantees of future or performance results. Accordingly, readers should not place undue reliance on any forward looking statement.
Forward looking statements are based on assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made. The Company believes that the assumptions and expectations reflected in such forward looking statements are reasonable. Assumptions have been made regarding, among other things, the Company's future exploration and development activities; timely receipt of third party or regulatory approvals; and the Company's ability to obtain financing as and when required and on reasonable terms. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used and that these factors and assumptions may be incomplete or incorrect.
Forward looking statements are also subject to known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from those expressed or implied by such forward looking information. Those risks include 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; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, permitting and licensing risks; and general market and mining exploration risks.
Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward looking statements to reflect events or changes in circumstances that occur after the date hereof. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision.
The drilling campaign was launched in August with the objectives of (a) meeting annual expenditure requirements to keep the projects in good standing; (b) test previously identified targets at the Enger and Ingenii-Nars projects; and (c) initiate early stage exploration at the Ulaan Nuur, Sevsuul Bulag, Bukht Uul and Unegt prospects.
East Asia Minerals has now completed the proposed summer 2011 drill program at the Enger project. The program consisted of four PCD-DDH (Polycrystalline Pre Collar-Diamond Drilling) holes and six air core holes for a total of 838 metres. All PCD-DDH holes have encountered the targeted uranium-bearing horizons with down-hole radiometrics supporting the geologic model. Samples from the diamond drill core sections of the holes have exhibited excellent recovery and have been sent to the laboratory for further analysis.
The Enger project was discovered in the mid 1980s by government prospecting teams who conducted at least 18 drill holes, which resulted in the delineation of a historical, non-NI43-101 compliant, resource of approximately 400,000 lbs. of U at an average grade of 0.065% U. East Asia Minerals first acquired the Enger project in August 2005 and actively drilled the property in 2006/07 to confirm the presence of this historical uranium mineralization. Key intercepts of the East Asia drilling campaigns of 2006/2007 included 2.5 metres of 0.410% U3O8 (ENDD003) and 13.5 metres of 0.108% U3O8 (ENDD005). In addition, the drilling supported the concept that the volcanic-hosted mineralization at Enger forms in a similar geological environment to that of the Gurvanbulag uranium deposit (Saddle Hills project) in northeast Mongolia.
To access this image, please go http://www.eaminerals.com/i/maps/2011-09-07_NRM1.jpg
Figure 1 - Enger plan view map with contact area mineralization and drill hole locations (refer to www.EAminerals.com for additional maps and drill sections).
To access this image, please go http://www.eaminerals.com/i/pdf/2011-09-07_NRM2.pdf
Figure 2 - Enger longitudinal section looking north (refer to www.EAminerals.com for additional drill sections).
For the PCD-DDH program, four holes (ENDD010, and ENDD016 to 018) ranging from 57 to 250 metres depth were drilled to test the southwest up-dip extension of the main mineralization, and up-dip extension of deeper mineralized horizons. All holes encountered the targeted uranium-bearing horizons with down-hole radiometrics supporting the geologic model. The shallower main mineralized horizons at the contact between volcanics and overlying sediments were successfully extended. In addition, a number of tabular or lens like zones were encountered within altered rhyolite and associated tuffs just beneath the contact zone. The southwest extension from deeper zones was encountered in the eastern area of drilling, whereas to the west there appears to be some cut-offs or off-setting due to faulting. The 2011 program has extended the Enger deposit up-dip to the southwest and remains open in all other directions.
For the air core drilling (EN01AC to EN06AC), two prospective areas were identified in the northeast sector of the property from a soil gas hydrocarbon geochemical survey and follow-up ground radiometric survey. East Asia drilled six shallow holes (20 to 54 metres depth), with two holes identifying early stage targets for further investigation in sediments. Hole EN001AC encountered an average of 610 cps (counts per second) from 1.8 to 3.5 metres depth, and drill hole EN005AC encountered 373 cps from 10.17 to 10.42 metres.
The following table presents the key drill intercepts from holes conducted by East Asia Minerals since acquiring the project in 2005. By comparing the cps readings with assay results of the 2006/07 drill programs, East Asia Minerals is encouraged by the results of the 2011 drill program. The 2011 cps results are indicative and validation will be determined when assays are received from the submitted core samples.
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Year Hole From (m) To (m) Width (m) Grade(U3O8%) Average cps
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2006 ENDD002 182.5 185.0 2.5 0.232 1,285
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2006 ENDD003 128.5 131.0 2.5 0.410 3,682
---------------------------------------------------------------------------
2006 ENDD005 53.5 67.0 13.5 0.108 3,153
---------------------------------------------------------------------------
2007 ENDD011 104.5 113.8 9.3 0.212 3,993
---------------------------------------------------------------------------
2007 ENDD015 23.0 27.0 4.0 0.033 1,383
---------------------------------------------------------------------------
2011 ENDD016 31.9 36.9 5.0 Pending 634
---------------------------------------------------------------------------
59.6 61.3 1.7 Pending 2,890
---------------------------------------------------------------------------
2011 ENDD017 43.7 50.2 6.5 Pending 2,579
---------------------------------------------------------------------------
70.7 73.2 2.5 Pending 3,162
---------------------------------------------------------------------------
2011 ENDD018 108.9 111.8 2.9 Pending 741
---------------------------------------------------------------------------
134.2 136.1 1.9 Pending 1,171
---------------------------------------------------------------------------
Table 1 - Key intercepts at Enger from East Asia Minerals' drilling since 2006 (also refer to www.EAminerals.com)
The drill rig at the Enger project has now been moved to the Ingenii-Nars project. The proposed drilling program at Ingenii-Nars is expected to include four PCD holes in the main zone of the sandstone-hosted uranium project. Additional drilling in other parts of the property had been planned and is now being reconsidered in light of this year's excessive wet conditions in the clay basin where the project is located.
EAS has not verified the classification of the historic resource reference and is not treating it as a NI 43-101 defined resource verified by a QP. Although this historical resource is relevant to recognizing the potential of the Enger Property, it should not be relied upon. Samples have been sent to Stewart Mongolia LLC Laboratory in Ulaanbaatar, Mongolia. Lionel Martin, P.Geo., the designated QP within the meaning of NI 43-101, has reviewed and approves the content of this release.
To receive or stop receiving EAS news via email, please email info@eaminerals.com and state your preference in the subject line.
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 three advanced gold and gold-copper properties located in Aceh Province, Sumatra, and Sangihe Island, North Sulawesi. The Company owns six uranium properties, including the advanced Ingiin-Nars, Ulaan Nuur and Enger uranium projects, and one phosphate properties in Mongolia. East Asia currently has 84,221,582 shares outstanding. Its shares are listed for trading on the TSX Venture Exchange under the symbol "EAS".
Caution Regarding Forward Looking Statements
Certain statements in this News Release, which are not historical in nature, constitute "forward looking statements" within the meaning of that phrase under applicable Canadian securities law. When used in this News Release, such statements use words such as "may", "will", "expect", "intend", "anticipate" and other similar terms. These statements reflect management's current assumptions and expectations regarding future results, performance or events as of the date hereof and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements. Forward looking statements involve significant risks and uncertainties and should not be read as guarantees of future or performance results. Accordingly, readers should not place undue reliance on any forward looking statement.
Forward looking statements are based on assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made. The Company believes that the assumptions and expectations reflected in such forward looking statements are reasonable. Assumptions have been made regarding, among other things, the Company's future exploration and development activities; timely receipt of third party or regulatory approvals; and the Company's ability to obtain financing as and when required and on reasonable terms. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used and that these factors and assumptions may be incomplete or incorrect.
Forward looking statements are also subject to known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from those expressed or implied by such forward looking information. Those risks include 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; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, permitting and licensing risks; and general market and mining exploration risks.
Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward looking statements to reflect events or changes in circumstances that occur after the date hereof. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision.
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