Monday, March 8, 2010

East Asia confirms conversion of Aceh mining permits

East Asia Minerals Corporation reports that its has received formal documents from the Indonesian Directorate General of Mineral, Coal and Geothermal confirming the conversion of mining permits to the new IUP for its Miwah, Barisan I, Takengon and Barisan II tenements in Aceh province. In Indonesia the company has a 70-85% interest in six advanced gold and gold-copper properties located in Aceh and in Sangihe Island in North Sulawesi province. Two of these, the Sangihe (Binebase-Bawone) and Barisan 1 (Abong) gold projects, are being advanced to define NI43-101 compliant resources.

The Barisan II tenement encompasses a cluster of six known porphyry centers within a 6.2 km by 3 km block. At the Upper and Lower Tengkereng areas, two windows of similar porphyry gold-copper mineralization, located about 1.5 km apart, are exposed through shallow inter-bedded sedimentary and volcanic cover rocks and may be linked at depth.

Geological features observed in drill core from Upper Tengkereng and surface outcrops at Lower Tengkereng confirm that these systems share many features of the world's best gold-rich porphyry copper deposits in the circum-Pacific rim.

Exploration by East Asia Minerals at the Lower Tengkereng project has provided confidence to improve on grades from the limited historic drilling. Surface channel sampling by East Asia at Lower Tengkereng, including 31 m of 0.77 g/t gold plus 0.03% copper and 116 m of 0.33 g/t gold plus 0.04% copper, confirms the presence of gold-rich porphyry mineralization.

At Upper Tengkereng East Asia drilled a 646.25 mhole averaging 0.39 g/t gold plus 0.21% copper (0.68 g/t gold equivalent), including 268 m of 0.57 g/t gold plus 0.26% copper (0.92 g/t gold equivalent) from 318 to 586 m. Significant near surface gold mineralization was also intercepted, including 14 to 82 m (68 m) of 0.51 g/t gold plus 0.21% copper (0.80 g/t gold equivalent).

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