East Asia Minerals obtains further positive results from Sangihe gold project

By Ruli Setiawan

Vancouver-based East Asia Minerals Corporation announced additional positive results from its Phase 1 Drilling Program at the company's Sangihe gold and copper project in Sulawesi, Indonesia.

"We are very elated with these results which should increase the resources, tonnages and grades identified in the NI 43-101 technical report for both Binebase and Bawone," said Frank Rocca, Vice President of Exploration at East Asia Minerals in a statement received on Tuesday.

"The latest drilling results identified two further significant mineralized intercepts in the northwest portion of the Binebase resource with drill holes BID148 and BID149 extending the northwestern boundary of the current resource further to the West. Likewise at Bawone, drill holes BOD094 and BOD095 will enable us to extend the current Bawone resource further to the west and along strike to the southeast."

"The results further demonstrate the potential at Sangihe to increase the existing mineral resource," added Ed Rochette, CEO of East Asia Minerals. "The Phase 1 Drilling Program was completed in April 2013 and we have since started metallurgical studies to consider our processing options."

The Phase 1 Drilling Program holes BID148 and BID149 at Binebase resulted in expansion of the Binebase resource's northwestern boundary. Drill hole BID148 contains a significant intercept of oxide mineralization measuring 6 metres (m) in length from near surface at just 3m to 9m in depth down hole with an average gold grade of 2.50 grams per tonne (g/t). Drill hole BID149 contains a significant intercept of oxide mineralization measuring 5m in length from the shallow depth of 13m to 18m in depth down hole with an average gold grade of 5.17 g/t.

Bawone drill hole BOD094 contains two significant intercepts. The first at a down hole depth from 45m to 53.5m with an 8.5m length of sulphide mineralization which has a gold and copper grade average of 6.10g/t and 0.74%. The second intercept in BOD094 extends for a down hole length of 85.8m from 80.5m to 166.3m with this wide massive sulphide mineralized zone having a gold and copper grade average of 1.19 g/t and 0.26%.

This wide mineralized zone contains an intercept of 8.7m down hole length from 80.5m to 89.2m with an average gold grade of 2.00 g/t and an average copper grade of 0.39%. Bawone drill hole BOD095 contains a significant intercept of sulphide mineralization measuring 15.25m in length down hole from a depth of 66.6m to 81.85m with an average gold and copper grade of 3.05 g/t and 0.49%.

This significant intercept includes two higher grade zones the first from 70.6m to 75.6m where this 5 m length down hole has an average gold and copper grade of 4.33 g/t and 0.49% and the second higher grade zone from 78.6m to 81.85m where this 3.25m length down hole has an average gold and copper grade of 4.89 g/t and >1.0%.

The second phase of drilling is being considered to begin in the latter half of 2013. Phase 2 will comprise of 10,000 metres. The objective of Phase 2 will be to identify resource extensions and definitions at Binebase, Bawone and Taware.

The company will also drill scout holes to test for extensions from Bawone to Salurlang. Further scout holes are planned for the Kuring and Kupa valley prospects. Kuring and Kupa are known to contain high-grade veins and have extensive artisanal mining activity. Trenching samples retrieved by the company from Kupa have been assayed at in excess of 30 g/t of gold.

The Sangihe Gold-Copper Project is located on the island of Sangihe off the northern coast of Sulawesi in Indonesia. Sangihe has an existing NI 43-101 compliant inferred mineral resource of 836,718 ounces of gold and 11,927,237 ounces of silver (using a 0.25 g/t gold cut-off).

Editing by Reiner Simanjuntak