East Asia Minerals Drills More Gold At Miwah

Investors in East Asia Minerals (EAS-V, EAIAF-O) have watched the stock move from 12¢ a share in November 2008 to $3.10 per share in August 2009.

At presstime, the stock was trading at $2.65 following new drill results from its Miwah gold project in Indonesia, a high-sulphidation epithermal gold system in northern Sumatra’s Aceh province.

The drill holes, EMD009 and EMD010, appear to support the company’s interpretation of shallow, laterally extensive gold mineralization along the 1.2-km main gold zone at Miwah.

Hole 009 encountered 1.16 grams gold per tonne over 88 metres, including 2.06 grams gold over 21.2 metres.

Hole 010 ended in mineralization and hit 1.42 grams gold over 116.9 metres, including 3.14 grams gold over 28 metres.

The intersections are west and south, respectively, of hole 008, which hit 2.11 grams gold over 100 metres, including 4.81 grams gold over 30 metres.

So far East Asia Minerals has validated, through drilling, a strike length of more than 600 metres.

Hole 009 is the second drill hole in the eastern part of the gold system. It was drilled west with a 245 azimuth and 55 dip, and completed at 206 metres down-hole depth.

It hit mineralization from 86 metres to 174 metres down-hole depth, including 21.2 metres of 2.06 grams gold from 88 metres. This hole was designed to test the extension of mineralization and alteration west of hole 008, where surface rock sampling returned 14 metres of 2.55 grams gold per tonne.

The mineralization in hole 009 is open in all directions and is interpreted to be contiguous upwards to similar-grade strong surface gold mineralization and to the east towards hole 008.

Hole 010 was drilled southerly with a 150 azimuth and 65 dip, and ended in mineralization (at 199.9 metres depth) due to drill rig limitations. Mineralization started from 83 metres depth, including 28.1 metres of 3.14 grams gold from 83 metres.

This hole confirmed the sub-horizontal gold-mineralized layer in the area of holes 008 and 009 is open at depth, and is interpreted to be contiguous to surface and towards hole 008 (which returned 2.11 grams gold over 100 metres, including 4.81 grams gold per tonne over 30 metres) and hole 009.

Holes 009 and 010 were collared 90 metres higher in elevation than holes 001 to 003, and continue to support the company’s interpretation of a laterally extensive, higher-grade sub-horizontal layer, grading between 2 and 5 grams gold per tonne in the upper levels of the mineralized system.

Within the tabular zone, East Asia has over 2,000 metres of rock-sawn channel samples, which average 1.2 grams gold. In addition to the tabular zone the company has begun to characterize some of the diatreme breccia feeder zones, with rock-sawn channel samples including 83.59 grams gold over 24 metres and 20.14 grams gold over 12 metres.

East Asia has a 70% to 85% interest in six advanced gold and gold-copper properties in Aceh province, Sumatra, and on Sangihe Island in North Sulawesi. It plans to define National Instrument 43- 101-compliant resources on two of these — the Sangihe (Binebase-Bawone) and Barisan 1 (Abong) gold projects.

The company also owns 11 uranium properties, including the advanced Ingiin-Nars, Ulaan Nuur and Enger uranium projects, four phosphate properties, and a 75% interest in the Khok Adar copper oxide discovery in Mongolia.