Business
East Africa Metals targets resource expansion as it prepares to renew exploration activity in Ethiopia with a $2.7M drill program
East Africa Metals targets resource expansion as it prepares to renew exploration activit...
About this update from East Africa Metals, Inc.
[{"type":"text","content":"\n \n \n \n East Africa Metals targets resource expansion as it prepares to renew exploration activity in Ethiopia with a $2.7M drill program\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n VANCOUVER, BC,\n \n May 20, 2021\n \n /CNW/ -\n \n \n East Africa Metals Inc. (TSXV: EAM) (\"East Africa\", \"EAM\" or the \"Company\") would like to provide an update on the ongoing exploration of its gold and gold/copper/zinc projects in the Federal Democratic Republic of Ethiopia (\"Ethiopia\").\n \n \n After productive meetings with government officials in\n \n Addis Ababa\n \n last week, the Company is looking to building on the success achieved over the past ten years through the Company's investment of approximately\n \n $30,000,000\n \n in exploration with the support of the Ministry of Mines and Petroleum (\"MoMP\").\n \n \n \n East Africa\n \n is preparing to initiate a fully funded\n \n $2,700,000\n \n exploration program announced in early 2021 (see new release\n \n February 1, 2021\n \n ). The six-month state of emergency declared in the Tigray region was lifted on\n \n May 4\n \n \n th\n \n , 2021.  It is anticipated that commercial activity in the Tigray region will normalize in the near future, as it recovers from the impacts of the COVID pandemic and the political unrest.\n \n \n EAM has completed the planning and received government approval for the\n \n $2,700,000\n \n Phase 1 exploration program that will include 8,000 meters of diamond drilling, 115 line kilometers of geophysical surveys, environmental, metallurgical studies and resource calculations/updates. The initiation of the Phase 1 diamond drilling program is expected to begin immediately after the Government declares the region ready for field operations.\n \n \n EAM's management has confidence in the potential of the Company's exploration assets in the Tigray region and looks forward continued participation in what has become an active and emerging exploration sector.\n \n \n The Company has equal confidence in progressive policy initiatives of...