East Asia Minerals will begin a 4600 metre drill program at its Sangihe Gold-Copper Project next month. The $2.8 million program has been scheduled to follow up on phase one and two drill programs which were completed in previous years at the Binebase and Bawone zones. A scout drill program will also be carried out at the Kupa and Taware Valleys.
East Asia is anticipating an increase in the inferred resource at the mineralized zones at Binebase as a result of the drilling, as well as the conversion of some of the inferred resources to the indicated category. Another objective of the program is to define the along strike resource extensions of Bawone mineralized zone to increase the inferred resource estimate. The scoutl holes in the Kupa and Taware Valleys will target quartz veins which have returned high grade assay values in previous channel samples.
East Asia’s vice president of exploration Frank Rocca says, “Having recently completed site visits and reviewed existing data management, we believe there is good potential for this program to extend the existing zones as well as an increase the inferred and indicated resources at Sangihe. Equipment is being mobilized to site and we expect to begin drilling at site in late November this year.”
The 4600 metre program will be subdivided into 1800 metres in 12 holes at both Binebase and Bawone, while the eight Kupa and Taware scout holes will total 1000 metres.
Sangihe is on the island of Sangihe off the northern coast of Sulawesi and has an existing NI 43-101 compliant inferred resource of 27.3 million tonnes averaging 0.95 grams/tonne gold and 13.58 grams/tonne silver for 836,718 ounces of gold and 11.9 million ounces of silver.
The company’s chief executive officer Edward Rochette says, “We're very happy to see drilling recommence at Sangihe Island. This program demonstrates that East Asia is committed to creating shareholder value and moving the project forward.”