EAS drills 56m of 1.41 g/t oxide gold at Binebase

Vancouver-based mineral explorer East Asia Minerals Corporation (EAS) |reported Tuesday that drilling is continuing to encounter strong near surface oxide gold mineralization at its Binebase Gold Project located on Sangihe Island, North Sulawesi.

Significant intersections of 56.15 metres of 1.41 g/t gold including 27.9 metres of 2.45 g/t gold in hole BID-48, 16.0 metres of 4.04 g/t gold in hole BID-51, and 29.0 metres of 1.24 g/t gold in BID-52 provide added confidence to the resource drilling of this leachable near-surface oxide deposit, the company said, adding that the Binebase Gold Zone continued to grow, and remained open to the north, east and southeast.

Drilling at Sangihe is now testing high-potential geophysical targets at the Bawone sulphide gold zone. These targets have the potential to double the potential size of the Bawone epithermal gold system, it said.

The company said drilling of its Sangihe and Abong gold project in Aceh are progressing extremely well, with nearly a 100% success rate for encountering significant gold mineralization. The company has drilled 170 holes totaling approximately 13,250 metres during the past 12 months in both properties. However, due to global financial turmoil, the company said it would take measures to cut down costs including reducing number of rigs operating.

East Asia Minerals 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. Two of these, the Sangihe (Binebase-Bawone) and Barisan 1 (Abong) gold projects are being drilled to define NI43-101 compliant resources.(alex)