East Africa Metals Inc. (TSX Venture: EAM Frankfurt: EA1) (“East Africa”, “EAM” or the “Company”) would like to provide an update on the ongoing exploration/development of its gold and gold/copper/zinc projects in the Federal Democratic Republic of Ethiopia (“Ethiopia”).
EAM has completed planning and received government approval for C$2.7M, Phase 1 exploration program that will include 8,000m of diamond drilling, 115 line kilometers of geophysical surveys, environmental, metallurgical studies and resource calculations/updates. The exploration program is set to commence as soon as travel restrictions for the Tigray region are lifted.
Based on the recently completed sale of the 70% interest of EAM’s Ethiopian subsidiary, Tigray Resources Inc. (“TRI”) to Tibet Huayu Mining Co. Ltd (news release dated February 8, 2019), EAM retains the mineral rights and all exploration obligations for the prospective targets not incorporated in the current resources defined within the Terakimti, Mato Bula and Da Tambuk mining licenses (“EAM Mineral Resources”). EAM will advance the exploration agenda with the objective to expand and upgrade the current resource base and drill untested, high priority exploration prospects.
Listed below are the exploration targets that host potential to improve current resources and potentially increase the total resource base (news release dated May 7, 2018). Highest priority exploration targets that have potential to increase the resource base will be the focus of Phase 1 drilling;
The undrilled Halima Hill I.P. anomaly that is an extension of the geophysical signature of the Mato Bula resource, and the exploration of the Mato Bula Trend, the continuation of prospective geology between the Mato Bula and Da Tambuk mining licenses, represent first priority exploration targets on the Adyabo property.
- Halima Hill I.P. – Represents a compelling target as a large, open (to depth and southward) I.P. chargeability anomaly extending laterally 500 metres south beyond the established Mato Bula mineralization. The currently defined copper/gold mineralization increases in silver and zinc content locally in the south region of the resource. Being an open I.P. target, the feature requires drill qualification and has potential, with mineralization identification, to represent a significant spatial increase to the known mineralized footprint. A key intersection in this area includes 24.50 metres grading 0.61 grams per tonne gold, 1.67% copper, 8.0 grams per tonne silver, and 0.96% zinc, from 204.30 metres (WMD027- news release dated January 15, 2015). Halima Hill is considered a high priority target.
- Mato Bula Central – Results from the 2017 infill drilling program identified areas of potential high grade mineralization for step out drilling to depth in the central area of Mato Bula.
- Silica Hill – Resource mineralization remains open to depth.
- Silica Hill North – Interpretation of geology and mineralization has been revised and additional drill targets have been identified with the objective to build upon an initial intersection of 22.91 metres at 14.34 grams per tonne gold including 8.50 metres at 36.92 grams per tonne gold, from 101.09 metres drill depth (WMD032- news release dated January 15, 2015).
- Mato Bula North– A separate copper enriched area of the existing resource remains open laterally and to depth, and requires further delineation drilling.
- Da Tambuk Silica Ridge – Two target areas of artisanal workings, silica alteration and anomalous multi-element soil geochemistry remains to be trenched and drill tested.
- Da Tambuk deposit – Infill and extension drilling required (deposit currently open to depth and south).
The Company has identified a corridor of anomalous surface geochemistry between the Terakimti deposit and the VTEM09 prospect (a six kilometre separation). The VTEM09 prospect has yielded a number of precious metal-rich VMS related intersections, including 24.06 metres grading 1.88% copper, 3.08 grams per tonne gold, 66.4 grams per tonne silver, and 2.54% zinc, from 35.84 metres drill depth (diamond drill hole TVD009 – news release dated March 27, 2017). Additional drill work warranted in the Terakimti area includes;
- Supergene – High grade copper mineralization delineation drilling.
- Primary – VMS mineralization delineation drilling.
- VTEM09 – Following qualifying metallurgical work and potential resource work, additional diamond drilling would be warranted.
- Mayshehagne VMS trend – A separate VMS trend centres on the Mayshehagne prospect, located three kilometres south of Terakimti. Precious metal enriched copper-zinc mineralization has been identified at this prospect, including 21.19 metres grading 4.32% copper, 1.04 grams per tonne gold, 35.9 grams per tonne silver, and 6.98% zinc, from 36.58 metres drill depth (diamond drill hole HD011 – news release dated March 27, 2017).
- Mayshehagne – Following qualifying metallurgical work and potential resource work, additional diamond drilling would be warranted.
Furthermore, additional target generation is recommended through deep and downhole EM programs over prospective terrains at Harvest and I.P surveying along the untested Mato Bula Trend terrain at Adyabo.
The Company believes the work and advancement on the projects completed to date indicate both the commercial production potential of the defined deposits and the significant exploration potential of this area within the Arabian Nubian Shield. Management continues to believe there is excellent potential for resource expansion within the Harvest and Adyabo properties, as described in the EAM’s news release dated May 17, 2018.
Government approval for the extension of exploration licenses and the proposed 2020 drill program has been received. The initiation of the Phase 1 diamond drilling program is expected in the first quarter of 2021.
EAM currently has three approved Mining Agreements with Ethiopia’s Ministry of Mines and Petroleum; the Terakimti Oxide deposit Mining license has been issued (news release dated December 7, 2017) and Mining Agreements for the Mato Bula and Da Tambuk deposits have been approved and licences issued. For the additional prospective targets of interest that are located on ground outside of existing mining licences, the Company has received Extension/Inclusion agreements from the Ministry to allow additional time to qualify targets as they may complement existing Licence resources.
Andrew Lee Smith, P.Geo., C.E.O., a Qualified Person under the definitions of National Instrument 43-101, has reviewed and approved the technical contents of this news release