East Asia Minerals acquires more projects in Indonesia
Wednesday, May 2 2007 - 12:10 AM WIB
Under the terms of the agreements, EAS has an 80% starting equity in each of the projects, which are located in Aceh Province.
Tangse Previous limited drilling by CRA (Conzinc RioTinto Australia) in the 1980s at Tangse outlined a large porphyry copper-molybdenum deposit containing a coherent zone of copper-molybdenum mineralization five kilometres long and one to two kilometres wide. Historical order of magnitude estimates are at least 600 million tonnes of lower gradematerial, including a higher grade zone of 30 Mt with grades between 0.3 and 0.8% copper (Cu), and 0.02 to 0.03% molybdenum (Mo).
The Tangse porphyry system has been subjected to widespread supergene enrichment. This is most prevalent in the higher grade, hypogene portion of the deposit where the primary copper grade has reportedly been upgraded by a factor of 1.5 to 3, to grades in excess of 1% copper. EAS exploration will initially focus on this enriched zone. The project is located 100 kilometres to the southeast of the Provincial capital of Banda Aceh.
Barisan EAS has also signed an agreement with its Acehnese partner to explore and develop the Barisan Project consisting of four tenements in two project areas, also located in Aceh Province.
There are three known, classically zoned, partially explored porphyry copper-gold systems and two significant gold anomalous areas within the project.
Previous limited drilling by CRA (Conzinc RioTinto Australia) in the mid 1990s at Barisan identified three historical resources associated with small (500m x 300m) diorite-tonalite porphyry stocks:
Upper Tengkereng 41MT @0.24% copper and, 0.25 g/t gold
Lower Tengkereng 15MT @0.16% copper and 0.38 g/t gold
Upper Ise-Ise 10MT @0.20% copper and 0.17 g/t gold
These historical resources are quoted as tonnes per vertical 100 metres and are based on limited drilling. Great vertical extent is typically exhibited by Pacific Rim porphyries and the Company is optimistic that further exploration has good chances for success.
In addition to the above prospects, the Barisan tenement is host to a sedimentary-hosted gold deposit called the Abong prospect. This prospect has a historical resource in jasperoid of 8.7 million tonnes at 1.26 g/t gold and 2.8 g/t silver, and, 6 million tonnes at 0.81 g/t gold and 3.5 g/t silver in volcanic rocks.
The other gold anomalous zone has a kilometric trail of mineralized rock samples reportedly containing up to 456g/t gold.
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 already has a 70% interest in the Sangihe gold project, an 85% interest in the Miwah project, a 75% interest in the Takengon gold project.(alex)