The NI43-101 resource drilling program at the Miwah Main Zone of East Asia Minerals' Miwah project in Aceh Province, Northern Sumatra, continues to be on schedule with completion of the initial estimate expected early this quarter. Following this exploration drilling will continue in order to expand on the initial resource.
Recent drilling highlights include one hole which encountered 1.46 grams/tonne gold over 159.5 metres, including 2.28 grams/tonne gold over 95 metres, confirming the connection between Miwah Bluff and Block M.
A hole in the eastern area of the Miwah Main Zone was aimed at infilling alteration and mineralization between Block M and Moon River. It was completed at 352 metres and encountered 134 metres from 64 metres @ 0.54 grams/tonne gold, including 1.26 grams/tonne over 28 metres from 148 metres, followed by 29 metres from 224 metres @ 0.48 grams/tonne.
A hole drilled in the southeast extreme of the outcropping Miwah Main Zone to test south-southwest was completed at 200.2 metres and encountered 9 metres from 2 metres @ 0.97 grams/tonne, 28 metres from 39 metres @ 0.3 grams/tonne and 54,7 metres from 145.5 metres @ 0.26 grams/tonne, including 9 metres from 145.5 metres @ 0.6 grams/tonne.
Another hole drilled to infill alteration and mineralization between Miwah Bluff and Block M was completed at 400.2 metres and encountered favourable alteration/mineralization from 49.5 to 81.2 metres, 115.4 to 119.5 metres, 127.8 to 134.5 metres, 146.4 to 331 metres and 362.2 to 386.3 metres.
East Asia has diamond drill validated the 1.2km east-west outcropping width of the shallow, laterally extensive Miwah Main Zone, and has encountered significant gold mineralization in more than 95% of all holes analysed to date.
The Miwah Main Zone remains open in all directions with the Moon River area expanding the north-south potential to more than 600 metres, whilst remaining open further to the north towards Sipopok. Drilling has extended the Miwah Main Zone towards a similar northing as Moon River.
East Asia has recently announced its intention to spin out a number of its other assets so it can concentrate on the flagship Miwah project.
Sangihe Gold Corporation will become a precious metal exploration company focused on Eastern Indonesia. It will initially hold East Asia's 70% interest in the Sangihe gold project in North Sulawesi, Indonesia. The Sangihe project has an NI 43-101 compliant inferred resource of 1.075 million ounces of gold equivalent.
Barisan Gold Corporation is to become a gold-copper porphyry exploration company focused on Indonesia. It will initially hold East Asia's 80% interest in the Barisan gold-copper porphyries, including the Abong epithermal gold deposit, and East Asia's 75% interest in the Takengon gold-copper project, all located in Aceh Province. The Upper Tengkereng prospect at Barisan returned an interval of 40 metres at 1.46 grams/tonne gold and 0.48% copper within a 691 metre fully mineralized hole.
East Asia Energy Corporation is to become a Mongolian mining and energy company. It will initially hold all of East Asia's Mongolian assets, which consist of early stage uranium and phosphate projects.
The directors and senior management teams of Sangihe Gold, Barisan Gold and East Asia Energy will consist of current directors and senior officers of East Asia Minerals.