East Asia Minerals has received positive results from phase one drilling at the Sangihe Gold-Copper Project in North Sulawesi and has made regulatory progress at the Miwah Gold Project in Aceh province, Sumatra.
“The phase one results should increase the resources, tonnages and grades identified in the NI 43-101 technical report for Bawone,” says East Asia’s vice president of exploration Frank Rocca. “The results further highlight the potential to increase the existing mineral resources of both our main prospects on Sangihe Island.”
One of the drill holes has extended the Bawone resource to the southeast and shows the mineralization is open along strike in this direction. This will be tested further by drilling planned in the phase two program. This hole includes a 19.2-metre intersection from 86.5 metres with average grades of 3.13 grams/tonne gold and 0.55% copper.
Another hole includes an 11-metre intersection from 62.5 metres with average gold and copper grades of 1.14 grams/tonne and 0.4% respectively, extending to eastern Bawone.
Sangihe Island is north of Sulawesi with NI 43-101-compliant inferred mineral resources of 836,718 gold ounces and 11,927,237 silver ounces.
During the second half of 2013 the phase two program will comprise 10,000 metres seeking resource extensions and definitions at Binebase, Bawone and Taware. Scout holes will also be drilled to test for extensions from Bawone to Salurlang, along with the Kuring and Kupa valley prospects, which are known to contain high-grade veins and have extensive artisanal mining activities. Trenching samples from Kupa have been assayed at more than 30 grams/tonne gold.
In Aceh, Indonesian Ministry of Forestry officials are also close to approving development of East Asia’s Miwah Gold Project by clearing the way for mining, logging and palm oil production on 1.2 million hectares of forest. The changes also allow for an extensive new road network.
Miwah hosts an NI 43-101 compliant resource of 3.14 million gold ounces and 8.95 million silver ounces, based on a 103.9 million-tonne resource averaging 0.94 grams/tonne gold and 2.68 grams/tonnes silver.
East Asia Minerals is a Canadian-owned, Asian-based, mineral exploration company with gold and copper exploration projects across the Indonesian archipelago. East Asia possesses an 70 to 85% interest in three advanced gold and gold-copper properties in Aceh, Sumatra and Sangihe, North Sulawesi.