East Asia Minerals Announces Updated GOLD Resource Estimate FOR Sangihe
EAST ASIA MINERALS ANNOUNCES UPDATED GOLD RESOURCE ESTIMATE FOR
SANGIHE
For Immediate Release, July 11, 2017 TSXV: EAS
VANCOUVER, B.C. – July 11, 2017 – East Asia Minerals Corporation (TSXV-EAS) announces that Mining
Associates Pty Ltd (“MA”) has provided an updated resource estimate for East Asia Mineral’s Binebase-Bawone gold
deposit at the Sangihe Project. The Sangihe Project is a 42,000 hectare tenement on Sangihe Island, Sulawesi,
Indonesia, located in the volcanic island arc that extends nor thwards over 400 km from the north eastern ar c of
Sulawesi to Mindano in the southern Philippines. Both oxide and sulphide of gold mineralization are present at the
Binebase and Bawone deposits.
Based on 127 of a total of 153 diamond drill holes drilled at Binebase and Bawone , Indicated and Inferred resources using
a 0.25g/t gold cut-off for oxide material and 1.0g/t gold cut-off for sulphide material were derived. Indicated resources are
estimated at 3.16 million tonnes averaging 1.13 g/t gold and 19.4 g/t silver for 114,700 ounces gold and 1,972,400 ounces
silver in near and at surface oxides and sulphides. Inferred resources are estimated at 2.54 million tonnes averaging 1.29 g/t
gold and 13 g/t silver for 105,000 ounces gold and 1,055,600 ounces silver in near and at surface oxides and sulphides.
Mineral Resources are contained within two separate bodies, the Binebase and Bawone deposits, separated by
approximately one kilometre of shallow untested cover. At a 0.25 g/t gold cut-off, 82 percent of the oxide material,
including Indicated and Inferred gold ounces, is contained in the Binebase portion of the deposit. At a 1.0 g/t gold cut-off,
85 percent of the sulphide material, including Indicated and Inferred gold ounces, is contained in the Bawone portion of the
deposit.
Close-spaced drilling is required to upgrade Inferred resources to the Indicated classification, while step-out drilling is
required to determine the extents of the gold and silver mineralization which remains open at both prospects.
"Our goals for Sangihe are to complete the requirements for the Federal Indonesian Mining Department for the production
license issuance by the end of 2017 and the continuation of exploration with a view to increase the resource base of the
project. Our initial focus regarding production will be the oxide gold resource. The Binebase and Bawone resources are
open for further drilling. In addition, we plan to do further work to assess several high-grade surface gold zones which
have been identified on this large property,” said Terry Filbert , CEO of East Asia Minerals. Other areas of the large
Sangihe property that warrant follow-up include the results from trenches dug perpendicular to strike orientation set out
below.
- Kelapa where trench results include 14 metres at 34.8 g/t gold, 10 metres at 9.11 g/t gold, 6 metres at 9.19 g/t gold, 6
metres at 7.34 g/t gold, and 14 metres at 1.1 g/t gold;
- Brown Sugar where trench results include 7.8 metres at 15.6 g/t gold and 195.0 g/t silver, 4 metres at 16.0 g/t gold
and196.0 g/t silver, and 1.8 metres at 17.9 g/t gold and 251.0 g/t silver and an East Asia drill hole at the Brown Sugar
zone gave 16 metres at 2.7 g/t gold and 33.2 g/t silver;
- Sede where trench samples include 13.4, 15.0 and 42.6 g/t gold at Zone One, and 7.78, 11.2 and 16.0 g/t gold at Zone
Two;
- Kupa where trench results include 122.0, 82.4 and 73.8 g/t gold;
- Bonzos where trench results include 5 metres at 2.93 g/t gold and 35.0 g/t silver.
The foregoing campaign shall be carried out on a time scale to consider a production decision in 2018. The Company
cautions readers that the any production decision made by the Coimpany will prob ably not be based on a NI 43 -101
feasibility study of mineral reserves that demonstrates economic and technical viability and as such, there may be involved
increased uncertainty and various technological and economic risks outlined in the “forward looking statement” below.
The reader is referred to the Company’s website at www.EastAsiaMinerals.com where previous news releases of
exploration and drilling at Sangihe may be found. The complete NI 43-101 Resource Estimate can be accessed on the
SEDAR website at www.sedar.com.
Resource Estimation Methodology
The mineral resource estimate for the Binebase-Bawone gold deposits were completed by independent consultant Mining
Associates Pty Ltd. Drill hole samples were analyzed for silver and gold at SGS (Indonesia) prior to 2013 and PT Intertek
Utama Services after January 1st 2013. All sample results are monitored with an appropriate QA/QC program and passed
the quality checks. The presence of potential outlier sample data was evaluated and top cuts applied for silver and gold
according to the deposit (Binebase or Bawone) and the block model classification of high grade (HG) or low
grade (LG) . The Binebase HG top cuts used were 10.5g/t for gold and 300g/t for silver. The Bawone HG top
cuts used were 9.2g/t for gold and 60g/t for silver. The Binebase LG top cuts used were 2.6g/t for gold and
300g/t for silver. The Bawone LG top cuts used were 1.4g/t for gold and 30g/t for silver .
Resource estimation was constrained by domains consisting of 3D wireframes/solids. Drill hole data was
displayed in section and elevation slices showing assays and geology. Intercepts were selected and coded for
each domain based primarily on a grade greater than 0 .3 g/t Au and less than 1 g/t Au for low grade, and more
than 1 g/t Au for high grade.
Solids were extended laterally for approximately half the drill spacing, typically about 12.5 m, where
mineralization was not closed off by drilling. The depth of extr apolation below drill holes was also typically
about half the average drill spacing, about 12.5 m. Two sulphide breccia veins at Binebase were extended
vertically 15 m below their respective lowest drill hole intercept points. Bawone mineralization was ext ended
vertically 15 m below the lowest drill hole intercepts.
The grade of blocks measuring 15 metres (x) by 15 metres (y) by 5 metres (z) were estimated using the
Ordinary Kriging method with Gemcom Surpac (v6.4.1) software. A sub -block size of 1.875 m (x), 1.875 m
(y) and 0.625 m (z) was used to increase the resolution of the model at the edges of domains and to better
represent narrow, high grade mineralization. Block size selection was based on kriging neighbourhood
analysis “KNA”.
Mineral resources were estimated using informing sample 2 metre downhole composites across the
mineralization at Binebase and Bawone. Estimation parameters were based on directional variograms for
gold and silver for each domain except for Binebase high an d low grade silver. Omnidirectional variograms
were used for Binebase silver estimates
Tonnages at Binebase and Bawone were calculated from block volumes and 385 density measurements used in
this mineral resource estimate. Densities used in this mineral r esource estimate were equal to the mean of the
domained sample population rounded to two decimal places. Density values for Binebase range from 1.83 t/m3
to 2.28 t/m3. Density values for Bawone range from 2.11 t/m3 to 2.63 t/m3.
Frank Rocca , BAppSc.(Geolo gy), MAusIMM, Chief Geologist of East Asia Minerals Corp. is the Qualified
Person as defined under NI 43 -101 who has reviewed and approves the content of this release.
A copy of this 43-101 report can be found on www.sedar.com.
For further information please contact:
Ward Kondas
778-918-8384
For further information, visit the Company's website at www. EastAsiaMinerals.com
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.
Certain statements in this News Release, which are not historical in nature, constitute "forward looking
statements" within the meaning of that phrase under applicable Canadian securities law. These statements
include, but are not limited to, statements or information concerning fu ture work programs, results and timing
of any work programs, the Company's performance or events as of the date hereof. These statements reflect
management's current assumptions and expectations and by their nature are subject to certain underlying
assumpt ions, known and unknown risks and uncertainties and other factors which may cause actual results,
performance or events to be materially different from those expressed or implied by such forward looking
statements. Those risks include the interpretation of drill results; the geology, grade and continuity of mineral
deposits; the possibility that future exploration, development or mining results will not be consistent with our
expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory,
recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general
market and mining exploration risks and production and economic risks related to design and engineering,
manufacturing, t echnological processes and test procedures and the risk that the project's output will not be
salable at a price that will cover the project's operating and maintenance costs. Forward -looking statements
should not be construed as investment advice. Readers should perform a detailed, independent investigation and
analysis of the Company and are encouraged to seek independent professional advice before making any
investment decision. Accordingly, readers should not place undue reliance on any forward -looking statement.
Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any
forward looking statements to reflect events or changes in circumstances that occur after the date hereof.
East Asia Minerals Corporation
Terry Filbert, Chairman & CEO