Business
East Asia Minerals Announces Updated Gold Resource Estimate for Sangihe
Vancouver, British Columbia--(Newsfile Corp. - July 11, 2017) - East Asia Minerals Corporat...
About this update from Baru Gold Corp
[{"type":"text","content":"East Asia Minerals Announces Updated Gold Resource Estimate for SangiheVancouver, British Columbia--(Newsfile Corp. - 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 northwards over 400 km from the north eastern arc 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 resource...