The initial resource for East Asia Minerals' Miwah Gold Project in Aceh Province of Northern Sumatra is estimated at 103.9 million inferred tonnes averaging 0.94 grams/tonne gold and 2.68 grams/tonne silver for 3.14 million ounces of gold and 8.95 million ounces of silver in near and at surface mineralization.
The NI 43-101 estimate was provided by Mining Associates and is based on 71 diamond drill holes and uses a 0.20 grams/tonne gold cut-off.
The resource estimate is contained within the Miwah Main Zone portion of the large Miwah Gold Project and remains open for expansion. The reported inferred resource block measures 1300 metres east-west, up to 600 metres north-south, and 300 metres thick from the summit of the Miwah hill.
Closer spaced drilling is required to upgrade inferred resources to the Indicated classification, whilst step-out drilling is required to determine the extents of the gold and silver mineralization which remain open.
East Asia’s president and CEO Michael Hawkins says, “This initial resource estimate is encouraging for the Miwah project, especially because exploration drilling was largely stopped during the resource drilling campaign.
“Combined with the Sangihe project we have now defined in excess of 4 million ounces of shallow NI43-101 compliant gold resources. The Miwah and Sangihe gold deposits remain open for resource expansion with drills turning at both projects.
“Elsewhere on these projects there are several surface gold zones being primed for initial and follow-up drilling. The company also anticipates completion of metallurgical, environmental and scoping studies at Miwah by year end. With a strong treasury, we are fully financed to move these programs forward.”
The company also notes significant gold-bearing drill intersections that remain open at the outer limits of and adjacent to the resource block, verifying the potential to quickly expand the initial resource estimate.
Exploration drilling is progressing with the objective to generate the next phase of data required to provide an update to the initial estimate.
Meanwhile, East Asia has appointed Greg Clark as a director. He is the chief executive officer of Mincom, a leader in software and services for the mining sector.