East Asia minerals acquires Takengon gold project

Canadian mineral explorer East Asia Minerals Corporation announced Monday it has acquired a 75% interest in the Takengon property which encompasses the large, drill ready Collins epithermal gold prospect.

The Takengon property covers approximately 19,000 hectares and is located in Aceh Province.

The Collins epithermal gold prospect is a low sulphidation mineralized system associated with an elliptical magnetic feature, a NE-SW trending fault system, and indicative alteration. The mineralization consists of gold-bearing vein swarms and stockwork covering at least 400 by 800 metres.

Lyndon Bradish, East Asia's President and CEO said the company intended to be drilling in Indonesia during the second quarter of 2007 and Takengon drilling will be coordinated with other projects anticipated to be secured in the coming weeks.

Initial exploration work at Collins was completed during 1998. Drill targets were selected at that stage but were not drilled due to external issues. East Asia Minerals plans to re-establish these drill pads with minor compilation, confirmatory sampling and mapping, and then begin drilling, said the company.(alex)