Business
East Africa Metals Provides Update on On-Going Project Advancement
VANCOUVER, BC--(Marketwired - July 13, 2016) - East Africa Metals Inc. (TSX VENTURE: EAM) ("East Africa" or the "Company" or "EAM") is pleased to report on an a
About this update from East Africa Metals, Inc.
[{"type":"text","content":" VANCOUVER, BC--(Marketwired - July 13, 2016) - East Africa Metals Inc. (TSX VENTURE: EAM) (\"East Africa\" or the \"Company\" or \"EAM\") is pleased to report on an anticipated active Fall 2016 program on the development and exploration fronts, as the Company looks to address corporate objectives including; the completion of mine permitting, closing of project financing, and the initiation of development for the Terakimti Gold Oxide project, the anticipated startup of operations at Magambazi in Tanzania, and continued work to grow the resource base in Ethiopia through exploration and definition drilling. The Company's current resource base in Ethiopia comprises 926,000 gold equivalent ounces in the indicated category plus 860,000 gold equivalent ounces in the inferred category (see table below and news release dated June 29, 2016) from Terakimti, Mato Bula, and Da Tambuk mineral resources. Exploration targets that EAM plans to test, to continue the growth of the resource base, will include the VTEM09 and Mayshehagne prospects (highlight intersections previously released are listed in the table below), and new targets along the largely underexplored Mato Bula trend. Options for geophysically assessing the entire Mato Bula trend are presently being investigated, potentially providing the most cost effective forward program to systematically develop additional gold targets at depth for drill testing. Ground geophysical testing has yet to be initiated on the property, and offers significant opportunity for identification of additional prospective zones. VTEM09 and Mayshehagne Previously Released Highlight Intervals *Hole ID From (m) To (m) Interval (m)* Copper % Gold g/t Silver g/t Zinc % Local Azimuth Dip Prospect HD002 24.00 44.70 20.70 5.00 1.03 31 8.20 90 -61 Mayshehagne including 28.75 41.55 12.80 7.77 1.62 50 12.66 HD006 62.00 80.00 18.00 3.23 0.95 22 3.78 90 -45 Mayshehagne including 62.00 67.45 5.45 7.05 1.24 46 6.45 TVD001 20.29 30.50 10.21 3.16 3.97 87 3.82 271 -47 VTEM09 including 21.58 24.40 2.82 5.61 7.48 102 0.72 TVD002 58.20 68.95 10.75 2.24 2.63 71 3.74 263 -60 VTEM09 *Original holes and qualifying data released March 12, 2012, August 8, 2012, July 23, 2013, and May 27, 2015. Minor varian...