Release: East Asia Minerals continues to extend N. Sulawesi gold zone
Wednesday, March 26 2008 - 01:19 AM WIB
BID-17 also encountered 89.25 metres of 0.37 g/t gold and 8.29 g/t silver from surface, and 31.0 metres of 0.14 g/t gold and 1.29 g/t silver commencing at 96.0 metres. Similar mineralization occurs in BID-16 (108.00 metres of 0.36 g/t gold and 7.75 g/t silver) and may represent an economically significant gold halo to the higher grade material.
BID-17 was collared 100 metres north-northwest of BID-15, with a northwest azimuth to test the extension of significant oxide gold mineralization encountered in section BID-11/15. The hole also tested beneath an area of structurally related mineralization grading 2 to 4 g/t gold in channel samples taken from an area not previously drilled. Strong alteration was encountered, consisting of variable silica, alunite, illite, sulphide (pyrite) with quartz, sulphide stringers hosted in breccia and illite, silica +/- alunite, and sulphide overprinted by tectonic breccia. Drill hole BID-18 was collared 90 metres to the southeast along section of BID-17, with a northwest azimuth, and encountered similar alteration to BID-17. Section BID-17/18 is located at a topographically lower position than BID-11/15 and is interpreted to be the lower or footwall side of the better gold mineralized silica bodies, which may explain the lower gold assays. The results demonstrate that the Binebase mineralization extends further north than previously known.
"In addition to encountering near-surface gold in every hole at Binebase-Bawone, we are also beginning to recognize a substantial lower grade, but potentially significant halo to the high grade mineralization, as well as some discrete bonanza grade veins where we have encountered up to 20 g/t gold", stated Michael Hawkins, President and CEO of EAS. "These newly recognized types of gold mineralization are being reviewed for the potential to add significantly to the deposit model and economics. In addition, results for base metals in the Binebase area are indicating zonation that may be used to vector us towards a potential porphyry source to the epithermal mineralization."
Drilling will continue to test Binebase and Bawone, which remain open along strike in both directions and may be contiguous along the intervening 1.2 kilometres of strike. Drill hole BID-19 was collared 200 metres southeast along section of BID-18 with a southeast azimuth and is the closest Binebase hole drilled to date by the Company towards the Bawone Prospect, located 1.2 kilometres along strike to the southeast
Induced Polarization
At Binebase preliminary induced polarization interpretations have confirmed the correlation of resistivity highs with outcropping surface silica breccia zones. These zones have returned very encouraging gold and silver assays from the Company's drilling to date. A recently mapped area of widespread silica breccia outcrops approximately 800 meters southeast of the Binebase drill area and has returned very encouraging induced polarization responses. Historic channel sampling indicates this area is anomalous in gold and silver.
At Bawone preliminary chargeability interpretations have extended the potential gold mineralization southeast from the main drill area. In addition, the interpretations have extended the potential gold mineralization to the southeast of the Brown Sugar Prospect (East Asia drill hole BOD-06 with 16.0 metres at 2.71 g/t gold and 33.2 g/t silver from 8.0 metres depth), and in a new area 200 metres to the south.
Samples reported were assayed at PT SGS Indoassay (SGS Group) in Balikpapan. Lionel Martin, P.Geo, the designated QP within the meaning of 43-101 has reviewed and approves the content of this release. (end of edited release)
