East Asia Minerals acquires Aceh gold project

Vancouver-based exploration firm East Asia Minerals Corporation (EAS) announced Thursday it has signed an agreement to explore and develop the Miwah gold-project in Aceh.

Under the terms of the agreement, EAS has an 85% starting equity in the 30,000-hectare property.

The company claimed that the property contains a large high sulphidation epithermal gold prospect that was previously partially defined by approximately 3000 metres of drilling in eleven holes by Highlands Pacific in the 1990s. All holes drilled during this program intersected significant alteration and mineralisation with intercepts including 71m at 1.4 g/t gold and 58m at 1.1 g/t gold, it said.

Exploration will commence with Phase 1 drill testing of the targets already identified by geology, geophysics and geochemistry at the Miwah prospect. EAS has already commenced surface validation and reports that of the first 13 samples to be analysed, eight returned greater than 1 g/t gold, with the average grade of the mineralised samples being 2.5 g/t gold. The company intends to begin drilling during the second half of 2007 in coordination with its other advanced Indonesian projects secured this year.

EAS, which is listed on the TSX Venture Exchange, is an Asian-based, Canadian mineral exploration company with uranium, gold and copper assets in Mongolia and Indonesia. In Indonesia, it has a 70% interest in the Sangihe gold project, an 85% interest in the Miwah project, a 75% interest in the Takengon gold project, and is finalizing agreements for additional advanced gold and gold-copper projects. (alex)