At the Miwah gold project, East Asia Minerals has completed 10 holes since the release of the initial resource estimate on May 9. The objective of the ongoing drilling is to extend the resource north towards and into Moon River.
One hole was completed at 446.5 metres and encountered 156 metres @ 0.55 grams/tonne gold from 102 metres, including 13 metres @ 1.64 grams/tonne from 121 metres and 21 metres @ 1.00 grams/tonne from 182 metres. Another was completed at 206 metres and encountered 0.62 grams/tonne over 10 metres from 138.5 metres and 0.42 grams/tonne over 25 metres from 180 metres.
A third was completed at 352.7 metres and encountered 13 metres from 127.5 metres @ 0.87 grams/tonne and 12.5 metres from 251.5 metres @ 0.32 grams/tonne. Another was completed at 309.1 metres and encountered 309.1 metres from surface @ 0.32 grams/tonne, including 144 metres from 57 metres @ 0.57 grams/tonne with 1.01 grams/tonne over 19.4 metres from 59 metres and 1.53 grams/tonne over 13 metres from 106 metres.
Other results are: 86 metres from 65 metres @ 0.85 grams/tonne, including 15 metres from 65 metres @ 1.42 grams/tonne; 18.5 metres from 23.5 metres @ 1.18 grams/tonne; 29 metres from 18.5 metres @ 0.79 grams/tonne; and 13.9 metres from 178.7 metres @ 0.41 grams/tonne.
East Asia has appointed G & T Metallurgical Group Services of Kamloops, British Columbia, to undertake metallurgical testing at Miwah, which should be completed by year end.
Work to develop drill targets in the Sipopok area is ongoing in the area north of Moon River, and west and north of Sipopok. Favourably altered surface samples have been sampled from a reconnaissance program, and a controlled soil, mapping and sampling program is near completion.
East Asia Minerals’ new management team has begun a complete review of the company’s assets in Indonesia and Mongolia with the aim of providing an update to investors within the next few weeks that will detail the strategy for the company going forward.
At the Sangihe gold project, East Asia continues to make progress with authorities in Indonesia to complete the transfer of assets from East Asia Minerals to Sangihe Gold Corporation. In the meantime, drilling continues at Sangihe with 13 holes completed since drilling began in March 2011. East Asia also recently approved an increase in spending at the Sangihe gold project with the addition of two more drill rigs on site.
In Mongolia, East Asia continues to make progress with the authorities to complete the transfer of assets from East Asia to East Asia Energy Corporation.
East Asia Minerals has recently changed its management structure. Michael Hawkins has resigned as CEO-president-director and is replaced by Dr Darryl Clark and Alex Granger. Director Edward Rochette has accepted the role of chairman. The changes come at a time when Miwah is about to move from an exploration stage towards feasibility, and Michael Hawkins and the Board have determined that the new management team is the appropriate one to take Miwah to the next level in this evolution. Michael Hawkins will continue as a consultant during this period of transition, and shall further assist the company in the identification of new early stage opportunities.
The company is extremely appreciative of Michael Hawkins’ many contributions to the company and its success. Having joined East Asia Minerals in 2005, he brought in key value through his 30 years of exploration experience in Mongolia, PNG, Indonesia, Australia, North America and Latin America.