East Asia Minerals drills uranium mineralization at Ooshiin Goviadmin
East Asia Minerals Corporation 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 this anomaly.
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 future drilling.
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 ISL methods.
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”.
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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
Source: East Asia Minerals