VANCOUVER, BC–(Marketwired – February 22, 2017) – East Africa Metals Inc. (TSX VENTURE: EAM) (“East Africa” or the “Company”) is pleased to provide an update for on-going exploration and resource definition on the Adyabo and Harvest Projects in Ethiopia.
Diamond Drilling
Harvest Project follow-up diamond drilling on the VTEM09, Lihamat, and Mayshehagne prospects was completed in mid-January, and all samples have been shipped to Bureau Veritas for preparation and analyses. Results are anticipated for the end of Q1 2017.
In total, drilling included five holes (369 metres) at VTEM09, four holes (381 metres) at Lihamat, and four holes (314 metres) at Mayshehagne.
This work was completed as follow-up to successful previously released results, including;
- at VTEM09, 10.21m @ 3.97 g/t Au, 3.16% Cu, 87 g/t Ag, 3.82% Zn (see news release dated July 23, 2013),
- at Mayshehagne, 20.70m @ 1.03 g/t Au, 5.00% Cu,, 31 g/t Ag, 8.20% Zn (see news release dated August 8, 2012),
- at Lihamat, 4m @ 111.6 g/t Au (see news release dated September 14, 2015).
*Original holes and qualifying data released August 8, 2012, July 23, 2013, and September 14, 2015. Minor variance may occur due to QAQC interval adjustments.
At Adyabo, four diamond drill holes have been completed at each of the Da Tambuk and Mato Bula deposits, to detail the main core area of mineralization of existing Indicated Resources. Additionally, a 4,500 metre infill drilling program was initiated in January at Mato Bula to further define and delineate the existing resource south of the Silica Hill area.
Additional Exploration Activity
Preparations are underway to initiate a staged I.P. survey over the Mato Bula deposit starting in March, with the aim of profiling existing mineralization and using derived data to identify additional targets for drill testing.
Project Tenure
East Africa Metals currently has a Mining Licence application filed for the Terakimti Oxide deposit at Harvest. Exploration licence extensions have been filed for exploration ground at both the Harvest and Adyabo Adi Dairo licences with the goal of retaining additional prospects outside of current defined resources that warrant assessment for potential inclusion into the building resource base on the Company’s Ethiopian East Africa projects.
Additional information on the Company can be viewed at the Company’s website: www.eastafricametals.com.
Jeff Heidema, P.Geo., VP Exploration, a Qualified Person under the definitions of National Instrument 43-101, has reviewed and approved the contents of this news release.
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; 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 changes in project parameters as plans continue to be refined, as well as those risk factors set out in East Africa’s management’s discussion and analysis for the year end December 31, 2015, management’s discussion and analysis for the three and nine months ended September 30, 2016 and East Africa’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 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, the renewal or extension of exploration licences, 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.
For further information contact:
Nick Watters
Business Development
Telephone +1 (604) 488-0822
Email investors@eastafricametals.com
Website www.eastafricametals.com