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VANCOUVER, BC–(Marketwired – August 14, 2017) – East Africa Metals Inc.(TSX VENTURE: EAM) (“East Africa” or the “Company”) is pleased to announce final diamond drill hole results from the most recent infill diamond drilling program at the Mato Bula deposit, part of the Company’s Adyabo Project in Ethiopia.
Highlight intersections include:
- 5.89 metres grading 53.32 grams per tonne gold, 0.51 % copper, and 2.6 grams per tonne silver from 54.56 metres drill depth, and 10.26 metres grading 8.90 grams gold, 0.05 % copper, and 3.7 grams per tonne silver from 20.54 metres drill depth (WMD097), and;
- 4.33 metres grading 38.94 grams per tonne gold, 0.24% copper, and 2.6 grams per tonne silver, from 160.60 metres drill depth (WMD090).
Adyabo Project Mato Bula Work Program
Trenching and diamond drill hole supplemental sampling was completed to assist in planned resource update work. Additional metallurgical samples from Mato Bula were also collected and have now been received by the Blue Coast Metallurgical Group in B.C. Canada. Results for the metallurgical work and resource update are anticipated for Q4 2017. In accordance with project advancement, in July 2017 East Africa also initiated an independent Environmental and Social Impact Assessment study for the Adyabo resource area, with completion estimated for Q4 2017.
Mato Bula infill diamond drill intercepts
|Hole ID||From (m)||To (m)||Interval (m) 1||Gold g/t2,3||Copper %||Silver g/t||Zinc %||Local Azimuth||Dip|
|WMD100||No Significant Results||90||-49|
|WMD101||No Significant Results||271||-49|
|WMD103||No Significant Results||90||-52|
1True thicknesses are interpreted as 60-90% of stated intervals.
2No topcut has been used on analyses
3Intervals use a 0.3 gram per tonne gold cutoff value
Diagrams illustrating recent drilling and IP results are attached and available on the website.
Adyabo I.P. Survey Results
An initial eight (8) line Induced Polarization (I.P.)/Resistivity and Magnetic survey was planned for the Mato Bula deposit area, however favourable drill results to depth at the southern extent of planned drilling resulted in additional coverage.
A ten (10) line, 22.4 km I.P./Resistivity/Magnetic survey was conducted over the Mato Bula area from May 8 through June 4, 2017, and was carried out by Scott Geophysics of Vancouver, Canada, with follow-up section Inversion and 3D modelling carried out by Jules Lajoie of Comtech Enterprises (see compilation map link).
The survey clearly identifies an I.P. Chargeability high associated with the Mato Bula deposit mineralized trend, and a corresponding Resistivity low. On all but two central lines, this Chargeability anomaly remains open at depth. Of additional note, the anomaly remains open to the north and south, and is observed to build strongly to depth southward, beyond both the current Mato Bula resource, and the most recent drill campaign intersections hosting distinctive Cu, Zn, Au, Ag mineralization to depth.
Ethiopia Tenure Update
On August 11, 2016, East Africa announced it had filed a mine permitting application for the Terakimti Oxide Gold Project at the Harvest Project. East Africa management continues to engage in discussion and negotiation meetings with representatives of the Ethiopian Ministry of Mines, Petroleum and Natural Gas (MoMPNG) to finalize the Harvest Terakimti Oxide Mining Licence Agreement, and in addition, to ensuring the retention of key prospects within the Harvest Exploration Licence area. Currently, the MoMPNG is assessing, for purposes of adherence to Mining Regulations, that the prospects be included in an expanded Harvest Terakimti Mining Licence area.
The planning, execution, and monitoring of East Africa’s drilling and quality control programs at the Harvest and Adyabo Projects 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 both the Turkey facility and the 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 at the Turkey Bureau Veritas Mineral Laboratories facility 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).
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 the Company 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 the Company 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 the Company’s projections and estimates, including the initial mineral resource for the Adyabo, Harvest and Magambazi Projects; mining licence/permit applications, estimated exploration licence extensions, 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/or projects; and changes in project parameters as plans continue to be refined, as well as those risk factors set out in the Company’s management’s discussion and analysis for the year ended December 31, 2016, management’s discussion and analysis for the three months ended March 31, 2017, and the Company’s listing application dated July 8, 2013. Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to 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, the renewal or extension of exploration licences, and such other assumptions and factors as set out herein. Although the Company 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.
Attachment Available: http://www.marketwire.com/library/MwGo/2017/8/13/11G144099/IP_Presentation-e221471044a8b4c9b961a7c86536b4fe.pdf
Attachment Available: http://www.marketwire.com/library/MwGo/2017/8/13/11G144099/Mato_Bula_Upper_Long_Section-fe9d3c594bd1b119ab75b61e9c7c243d.pdf
Attachment Available: http://www.marketwire.com/library/MwGo/2017/8/13/11G144099/Mato_Bula_Main_Long_Section-152c9156b2ef950fa07e6219e230dd52.pdf
Attachment Available: http://www.marketwire.com/library/MwGo/2017/8/13/11G144099/Mato_Bula_Drill_Collar_Map-f370f2934752a1cb90aefe818aaff632.pdf
Attachment Available: http://www.marketwire.com/library/MwGo/2017/8/13/11G144099/Adyabo_Published_Drill_Intercepts-a6e06290b6ba913d8f8ae79f3528fc09.pdf
Attachment Available: http://www.marketwire.com/library/MwGo/2017/8/13/11G144099/Published_Adyabo_Trench_Results-b1489f734a56a0628a42b98f6201ba7f.pdf
Mon, 14 Aug 2017 07:15:00 GMT