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East Africa Metals Submits Mine Licence Applications for Da Tambuk and Mato Bula Gold Projects, Ethiopia
VANCOUVER, British Columbia, Dec. 13, 2017 (GLOBE NEWSWIRE) -- East Africa Metals Inc. (TSX-V:EAM) (“East Africa” or the “Company”) is pleased to announce, subs
About this update from East Africa Metals, Inc.
[{"type":"text","content":"VANCOUVER, British Columbia, Dec. 13, 2017 (GLOBE NEWSWIRE) -- East Africa Metals Inc. (TSX-V:EAM) (“East Africa” or the “Company”) is pleased to announce, subsequent to the recently acquired Mining License for the Terakimti Oxide Gold Project (See news release dated December 7, 2017), the Company has submitted two additional Mining Licence applications for the Company’s Da Tambuk and Mato Bula Gold deposits at the Company’s 100% owned Adyabo Project located in the Tigray National Regional State of the Federal Democratic Republic of Ethiopia (“Ethiopia”). Andrew Lee Smith, East Africa’s C.E.O. stated, “Following the recent approval of the Mining Licence for the nearby Terakimti Oxide Gold Project, East Africa is pleased to have submitted formal Mining Licence Applications for two additional deposits at Da Tambuk and Mato Bula. The opportunity to hold three deposits within a 20 kilometre footprint, in an area of well developed, air, road, and power infrastructure offers exceptional potential for project development.” Project Profiles: The Company has defined the following mineral resources at Da Tambuk and Mato Bula1: Da Tambuk: 775,000 tonnes at 4.51 grams per tonne gold and 2.4 grams per tonne silver, containing 112,000 ounces of gold and 59,000 ounces of silver, to a drilled depth of 200 metres. The mineralized zone is open along strike and to depth. Mato Bula: 2,280,000 tonnes grading 3.74 grams per tonne gold, 0.28% copper and 1.1 gram per tonne silver, containing 278,000 ounces of gold, 14 million pounds copper and 70,000 ounces of silver, to a drilled depth of 450 metres. The mineralized zone is open along strike and to depth. At Da Tambuk, mineralization occurs in two sub-parallel zones with a strike length of 650 metres in a northeast-southwest direction, a vertical extent of 200 metres and horizontal widths up to 50 metres. At Mato Bula, mineralization occurs in three sub-parallel zones with a strike length of 850 metres in a northeast-southwest direction, a vertical extent of up to 450 metres and a horizontal width of up to 80 metres. The southern part of Mato Bula has a higher copper content relative to gold. The overall Au:Cu ratio is 8.1 to 1. Project Infrastructure: The Da Tambuk and Mato Bula deposits are located approximately 600 kilometres north of Addis Ababa, the capital of Ethiopia. The regi...