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Positive Initial Results From Metallurgical Tests at East Asia Minerals' Sangihe Island Project in Indonesia
|By Marketwired .
|March 31, 2014 07:00 AM EDT
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 03/31/14 -- East Asia Minerals Corporation (TSX VENTURE: EAS) ("East Asia Minerals" or "the Company") today announced the initial results of metallurgical studies of composite samples from its drilling program at the Binebase and Bawone mineralized zones on Sangihe Island in Indonesia.
The test work, conducted by ALS Laboratories in Perth, Australia under the supervision of Ausenco Processing Engineers, found that over 92 percent gold recovery could be achieved from the oxide ore in the composite samples using leach technology. Ausenco also achieved over 83 percent recovery from the sulphide ore in testing using flotation practices.
"The test results further demonstrate the potential at Sangihe to advance to development and that heap leaching can be a low-cost alternative," stated Ed Rochette, CEO of East Asia Minerals. "More work is planned, including gravity recovery and downstream test work, to define a process flowsheet."
In 2013, the Company carried out a 5,164 metre drilling project at Sangihe Island. The program was composed of 25 holes at Binebase for a total of 2,485 metres, six holes at Bawone for a total of 976 metres and 10 holes at another mineralized zone, called Taware, for a total of 1,703 metres.
The Sangihe Gold-Copper Project is located on the island of Sangihe off the northern coast of Sulawesi in Indonesia. Sangihe has an existing NI 43-101 compliant inferred mineral resource of 27.3 million tonnes containing 836,718 ounces of gold at an average grade of 1.1 g/t and 11,927,237 ounces of silver at an average grade of 12.2 g/t (using a 0.25 g/t gold cut-off).
Cautionary Statement Regarding Forward-Looking Statements
This news release contains forward-looking statements that are based on expectations, estimates and projections as of this date. Such forward-looking statements are identified by words such as "estimates", "intends", "plans", "expects", "believes", "may" and "will" and include, without limitation, the statements as to next steps and goals. There is no assurance that the Company will be able to achieve any of the goals referred to in this news release. Factors that could affect the outcome include, without limitation, the unpredictable nature of drilling programs and metallurgical work, and other factors not yet identified. The forward-looking statements contained in this news release represent the Company's views and expectations as of the date of this release and should not be relied upon as representing its views and expectations at any subsequent date.
About East Asia Minerals Corporation
East Asia Minerals is an Asian-based, Canadian mineral exploration company with gold and copper exploration properties in Indonesia. The Company has a 70 to 85% interest in three advanced gold and gold-copper properties located in Aceh Province, Sumatra, and Sangihe Island, North Sulawesi which have a NI 43-101 compliant inferred resource of over 4 million ounces of gold. Its shares are listed for trading on the TSX Venture Exchange under the symbol "EAS".
Frank Rocca, AusIMM, Vice President Exploration of the Company, and a qualified person under National Instrument 43-101, has reviewed and approved the scientific and technical information in this press release.
For further information, visit the Company's website at www.EAminerals.com.
East Asia Minerals Corporation
Edward Rochette, Chairman & CEO
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Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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