Tuesday, 20th November 2007 (1806 views)

Drilling at the Sangihe project in Indonesia has intersected gold, extending the site's Bawone prospect, according to East Asia Minerals.

Michael Hawkins, president and chief executive officer of the company, said it is "greatly encouraged" by recent drilling results at the site.

"The gold mineralisation remains consistent over great widths and we are confident we will continue to enhance the potential of the Bawone Prospect," he said.

Mr Hawkins added that the company, which currently holds a 70 per cent interest in the project, is in the process of opening up two other prospects on the Sangihe site – Binebase and Brown Sugar – for exploration.

In addition, he said definition drilling is set to begin on the site during 2008, which will help the company develop a resource estimate for Sangihe.

East Asia Minerals currently has interests in five gold properties in Indonesia, which are located in North Sulawesi and Aceh Province, Sumatra.

 

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