East Asia Minerals has started a 4600 metre drill program at its Sangihe Gold-Copper Project on Sangihe Island off the north coast of Sulawesi. Drill targets have been identified at Bawone and Binebase prospects as well as the highly prospective Taware Valley/Sedi site, in a follow-up program to the phase one and two programs completed in previous years.
The company says it hopes the drilling will increase inferred resource ounces at Binebase mineralized zones and define the boundaries of the mineralized zone, and subsequently convert some of the inferred resources to the indicated category. The second objective is to define resource extensions along strike of the Bawone mineralized zone towards Salurang, and to increase the tonnage of the inferred resource.
Scouting holes in the Kupa and Taware valleys will also be drilled to target quartz veins in both valleys that have returned high grade assay values in grab and channel samples taken in previous years.
East Asia’s vice president of exploration Frank Rocca says, “Based upon recent evaluation of geomagnetics and interpretation of previous drilling results, we are very enthused that these initiatives will lead to extension of the existing Binebase and Bawone ore zones plus exploration of the highly prospective Taware/Sedi area.”
Sangihe has an existing NI 43-101-compliant inferred mineral 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 more than 11.927 million ounces of silver.
Meantime, East Asia has been given confirmation of an additional two years extension to the mining business licence at its Miwah project on Sumatra, ending confusion regarding the cooperation agreements covering the company’s interest. The licence expired on November 30.
East Asia Minerals has outlined an exploration plan to move forward on Miwah during 2013 and 2014. Chief executive officer Ed Rochette says, “This is great news, as we have worked diligently to achieve this extension of time for the business licences and now the company can focus its attention on the exploration of the areas and the issues involving further access in the areas under the forestry classification.”