VANCOUVER, March 12 /CNW/ - East Asia Minerals Corporation (TSXV-EAS)
reports drill confirmation of a laterally extensive in-situ leach uranium
environment at its 100% owned Ooshin Govi Property in southeast Mongolia. The
drilling intercepted a thick sequence of uranium bearing sands and has
validated the continuation of the same radiometric anomaly that extends south
from the adjacent Compagnie Generale des Matieres Nucleaires (AREVA) property
where extensive drilling over recent years has been conducted right up to the
Ooshiin Govi property boundary. The Ooshiin Govi property covers 40 to 60% of
The first phase of EAS drilling was completed early March. A total of 15
vertical holes ranging from 117 to 200 metres depth were completed along two
fences at the EAS - AREVA tenement boundary. Approximately 2,418 metres of
downhole gamma logging were completed. Regional and property scale radiometric
anomaly maps with drill hole locations are posted at www.EAminerals.com.
The drilling tested the western-most radiometric anomaly on the Ooshiin
Govi property, one of several such anomalies identified on the EAS tenements.
Within this anomaly, EAS interprets two wide, finger-like radiometric segments
extending from the AREVA ground. A fence of ten holes, spaced generally 100
metres apart was completed over the east segment and encountered
unconsolidated sands with multiple zones of downhole radiometric anomalies
over a thickness of 80 to 90 metres. The anomalous horizons are open in both
directions beyond the one kilometre of defined uranium-bearing stratigraphy. A
second fence of five holes was drilled over the western segment,
1.8 kilometres west of the first fence. The same uranium-bearing stratigraphy
as identified in the east segment was encountered over 600 metres and remains
open in both directions.
Difficult ground conditions and poor sample recovery were experienced
during drilling however sample recovery was greatly improved towards the end
of the program. There is concern of uranium grade dilution due to water used
in the drilling process. Alternative systems capable of adequate sample
recovery in these difficult terrains are currently being evaluated for any
Drill results indicate a large body of unconsolidated sand hosted uranium
mineralization with clay and lignitic intervals. The drill program
successfully validated an extensive and laterally continuous redox front, and
anomalous radioactivity at this front and beneath the water table. Favourable
porous host rock (unconsolidated sand) sandwiched between impermeable strata
(clay layers), and an extensive size potential suggest the mineralization may
be amenable to low cost ISL mining methods.
ISL, in-situ leaching, also known as solution mining, is a low cost
uranium recovery process that can remove the uranium from the ground without
moving the ore. Liquids to dissolve the uranium are pumped into the uranium
bearing sands. The uranium-rich solution is pumped back to surface and the
uranium is recovered. There is little surface disturbance and no tailings or
waste rock are generated. World-wide, about 20% of uranium production is by
The Company envisions a large, flat, buried river bed (paleochannel)
environment for the Ooshiin Govi mineralization. Deposits in similar
environments are being developed. For example, in neighbouring Kazakhstan
Cameco, the world's largest publicly traded uranium company, is developing the
Inkai ISL Uranium Project with global reserves reported at 860 million pounds
U3O8, including proven and probable reserves of 143 million pounds U3O8 at an
average grade of 0.06% U. Another is the Mynkuduk Project with a total of
174 million pounds U3O8, including proven and probable reserves of 127 million
pounds U3O8 at an average grade of 0.035% U.
Major Drilling Group conducted Phase One drilling at Ooshiin Govi.
Samples have been sent for assay to ACTLABS in Ulaanbaatar, Mongolia. Mike
Hawkins, M.Sc., MAusIMM, the designated QP within the meaning of 43-101, has
reviewed and approves the content of this release. EAS has not verified the
classification of stated reserve numbers, although these estimates are
relevant to demonstrating the potential of the Ooshin Govi Property.
East Asia Minerals Corporation also announces that its Annual General
Meeting will now be held on April 20, 2007 at Suite 401-750 West Pender
Street, Vancouver, B.C. at 11:00 am, Pacific time.
About East Asia Minerals Corporation
East Asia Minerals is an Asian-based Canadian mineral exploration company
with gold, copper and uranium assets and acquisition targets in the East Asia
Region. It has a 75% interest in the Takengon gold project and is finalizing
agreements for additional advanced gold and copper-gold projects in Indonesia.
The Company also owns six uranium properties and a 75% interest in the Khok
Adar copper oxide discovery in Mongolia. East Asia has 42,820,752 shares
outstanding. Shares are listed for trading on the TSX Venture Exchange under
the symbol "EAS".
To receive or stop receiving EAS news via email, please email
Info@EAminerals.com and state your preference in the subject line.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
For further information:
For further information: visit the Company's website at
www.EAminerals.com, or contact: Lyndon Bradish, President and CEO, T: +852
2719-1551 (Hong Kong), E: Bradish@EAminerals.com; Nick Kohlmann, Corporate
Communications, T: (416) 792-8734 (Toronto), E: Kohlmann@EAminerals.com