VANCOUVER, BRITISH COLUMBIA–(Marketwired – Jan. 11, 2016) – East Africa Metals Inc. (TSX VENTURE:EAM) (“East Africa” or the “Company”) is pleased to provide an update on the 40 x 40 metre spaced infill diamond drilling program at the Mato Bula Silica Hill Deposit, being conducted to upgrade and further define the present resource (refer to East Africa’s news release dated May 5, 2015). Results for 16 drill holes, totaling 2,265 metres, have been received, and will assist in further refining the definition of the mineralization. The Mato Bula Silica Hill system remains open to depth.
Highlight intersections from the Mato Bula Silica Hill Resource infill drilling include;
- 19.50 metres at 21.67 grams per tonne gold including 8.6 metres at 46.81 grams per tonne gold, from 103.35 metres drill depth (WMD050 – Section 19920N).
- 20.69 metres at 18.37 grams per tonne gold including 10.67 metres at 34.23 grams per tonne gold, from 87.5 metres drill depth (WMD053 – Section 19880N).
The highlighted intersections are situated in adjacent proximity to former highest grade intercepts encountered at Silica Hill (Figure 1), and it is anticipated they will improve confidence in the refinement and definition of the existing resource. A long section of the Upper Lode illustrates the new results (Figure 2). The table below outlines results for the Infill program to date.
Silica Hill Diamond Drill results
|WMD042||35.75||49.30||13.55(4)||0.31||1.74||91||-45||Mato Bula-Silica Hill|
|WMD043||87.65||100.55||12.90(4)||0.73||2.30||92||-61||Mato Bula-Silica Hill|
|WMD044||175.20||193.75||18.55||1.45||0.64||91||-61||Mato Bula-Silica Hill|
|WMD045||61.84||63.84||2.00||0.50||0.03||89||-49||Mato Bula-Silica Hill|
|WMD046||No Significant Results||86||-47||Mato Bula-Silica Hill|
|WMD047||27.00||40.10||13.10||1.52||0.53||86||-55||Mato Bula-Silica Hill|
|WMD048||28.35||62.10||33.75||2.30||0.17||89||-55||Mato Bula-Silica Hill|
|WMD049||73.65||101.00||27.35||3.52||0.21||91||-47||Mato Bula-Silica Hill|
|WMD050||103.35||122.85||19.50||21.67||0.18||85||-47||Mato Bula-Silica Hill|
|WMD051||130.06||153.15||23.09||6.03||0.23||88||-49||Mato Bula-Silica Hill|
|WMD052||155.00||201.65||46.65||1.58||0.09||88||-61||Mato Bula-Silica Hill|
|WMD053||87.50||108.19||20.69||18.37||0.21||90||-55||Mato Bula-Silica Hill|
|WMD054||25.91||48.00||22.09||3.26||0.08||90||-46||Mato Bula-Silica Hill|
|WMD055||87.30||106.80||19.50||1.21||0.06||90||-47||Mato Bula-Silica Hill|
|WMD056||147.53||168.35||20.82||5.64||0.20||89||-59||Mato Bula-Silica Hill|
|WMD057||211.50||231.50||20.00||3.33||0.12||91||-70||Mato Bula-Silica Hill|
|(1)||True thicknesses are interpreted as 60-90% of stated intervals.|
|(2)||Intervals use a 0.3 gram per tonne gold cutoff value.|
|(3)||No top cut has been used on assay values.|
|(4)||Copper interval, not subject to gold cutoff criteria.|
Terakimti Update – Harvest Project
Review of the updated Oxide Resource portion of the Terakimti deposit by East Africa has identified an error in the tabulation of mineral resources (refer to East Africa’s news release dated October 27, 2015). This error has been corrected by the resource QP.
Updated Terakimti Oxide resource
The Company does not believe this revision to be material.
Mineral Resource Qualified Persons
David Thomas, P.Geo., of Fladgate Exploration Consulting Corporation has reviewed and approved the technical revised resource information contained in this news release regarding the Updated Terakimti Oxide resource. Mr. Thomas is independent of East Africa and is a “Qualified Person” as defined by NI 43-101.
East Africa will continue to advance both its Harvest and Adyabo projects in Northern Ethiopia. Infill drilling continues in January 2016 at the Da Tambuk deposit at Adyabo, and is scheduled for completion by the end of January 2016. Metallurgical diamond drilling has been completed at the Terakimti Oxide deposit, and samples have been forwarded to an accredited lab for metallurgical evaluation.
The planning, execution, and monitoring of East Africa’s drilling and quality control programs at the Adyabo Project has been conducted under the supervision of Jeff Heidema, P.Geo., East Africa’s Vice President Exploration. Mr. Heidema is a “Qualified Person” as defined by NI 43-101, and has reviewed and approved the geological information contained in this news release. Diamond drilling was coordinated by East Africa’s contract geologists who also managed the preparation, logging, and sampling of core and rock samples, in addition to carrying out bulk density measurements. During sampling, quality control standards and blanks were introduced at pre-determined intervals to monitor laboratory performance. A system of field, reject, and pulp sample duplicates was also incorporated, as were specific programs of re-assaying and umpire lab assaying to both monitor laboratory performance and also characterize potential mineralization; all consistent with industry best practice.
Drill core samples have undergone preliminary preparation at the Bureau Veritas Mineral Laboratories facility in Ankara, Turkey, and are crushed to 80% passing 10 mesh, and pulverized to 85% passing 200 mesh (PRP70-1KG package). Analyses are conducted at Bureau Veritas Mineral Laboratories in Vancouver, Canada, with diamond drill core analyses utilizing Aqua Regia digestion and ICP-ES for base metal and silver analyses (AQ370 package), and Infill sample program utilizing Aqua Regia digestion and ICP-MS/ICP-ES (AQ270 package) for base metal and silver analyses. Gold analyses are conducted via Fire Assay Fusion with AA finish, and gravimetric analyses are completed for over-limit samples (FA430, FA530-Au packages).
Information recorded from diamond drill core assaying was integrated using industry standard data management software (Maxwell Datashed).
About East Africa
The Company’s principal assets and interests include both the 70%-owned Harvest polymetallic VMS exploration Project, which covers approximately 116 square kilometres in the Tigray region of Ethiopia, 600 kilometres north‐northwest of the capital city of Addis Ababa, and the Adyabo Project, covering 264 square kilometres immediately west of the Harvest Project. The Company owns 80% of the Adyabo Project. East Africa now has mineral resources defined at both projects in Ethiopia and continues to test priority targets. Additionally, the Company owns the 93 square kilometre Handeni Property located in north-eastern Tanzania. Handeni includes the Magambazi Project, a gold deposit discovered in 2009. East Africa has entered into a binding letter agreement with an arm’s length private exploration and development company to advance the project.
More information on the Company can be viewed at the Company’s website: www.eastafricametals.com.
On behalf of the Board of Directors:
Andrew Lee Smith, P.Geo., CEO
Cautionary Statement Regarding Forward-Looking Information
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “anticipate”, “believe”, “plan”, “expect”, “intend”, “estimate”, “forecast”, “project”, “budget”, “schedule”, “may”, “will”, “could”, “might”, “should” or variations of such words or similar words or expressions. Forward-looking information is based on reasonable assumptions that have been made by East Africa as at the date of such information and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of East Africa to be materially different from those expressed or implied by such forward-looking information, including but not limited to: early exploration; the closing of the agreement with the exploration and development company to advance the Magambazi Project or identify any other corporate opportunities for the Company; mineral exploration and development; metal and mineral prices; availability of capital; accuracy of East Africa’s projections and estimates, including the initial mineral resource for the Adyabo, Harvest and Magambazi Projects; interest and exchange rates; competition; stock price fluctuations; availability of drilling equipment and access; actual results of current exploration activities; government regulation; political or economic developments; foreign taxation risks; environmental risks; insurance risks; capital expenditures; operating or technical difficulties in connection with development activities; personnel relations; the speculative nature of strategic metal exploration and development including the risks of diminishing quantities of grades of reserves; contests over title to properties; and changes in project parameters as plans continue to be refined, as well as those risk factors set out in East Africa’s listing application dated July 8, 2013 and Tigray Resources Inc. Management Information Circular dated March 28, 2014. Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to the successful integration of Tigray Resources Inc.’s business with the Company; the price of gold, silver, copper and zinc; the demand for gold, silver, copper and zinc; the ability to carry on exploration and development activities; the timely receipt of any required approvals; the ability to obtain qualified personnel, equipment and services in a timely and cost-efficient manner; the ability to operate in a safe, efficient and effective manner; and the regulatory framework regarding environmental matters, and such other assumptions and factors as set out herein.
Although East Africa has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. The Company does not update or revise forward looking information even if new information becomes available unless legislation requires the Company do so. Accordingly, readers should not place undue reliance on forward-looking information contained herein, except in accordance with applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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