East Asia Minerals says Indonesian projects acquisition progressing

Vancouver-based junior miner East Asia Minerals said on Tuesday it had completed geological due diligence on four epithermal gold and porphyry copper-gold projects in Indonesia and claimed the results meet the multi-million ounce potential criteria.

Last May the company announced to have signed MoUs to acquire four advanced epithermal gold and porphyry copper-gold projects in Indonesia. The company did not give the exact locations., but only saying it intended to form joint ventures with various Indonesian partners to explore for gold and copper-gold on these projects through 8th Generation Contracts of Work (CoWs).

According to the company, the projects encompass multi-jurisdictional land positions that require a variety of title applications and numerous approvals from Local, Provincial and Central Government levels. Significant progress has been made and once in place, title and permitting will be fully secure under a globally accepted mineral exploration and development system, it said.

The company is also investigating other advanced acquisition opportunities in Indonesia, it said. (alex)