East Africa Metals Qualifies Exploration Upside relating to Terakimti, Mato Bula, and Da Tambuk Projects

 

VANCOUVER, British Columbia, May 07, 2018 (GLOBE NEWSWIRE) -- East Africa Metals Inc. (TSX-V:EAM) (“East Africa” or the “Company”) is pleased to update that the Company will continue to explore highly prospective areas in the immediate vicinity of the known Terakimti Gold (“Terakimti”), Mato Bula Gold Copper (“Mato Bula”, and Da Tambuk Gold (“Da Tambuk”) deposit areas, and below outlines its exploration strategy for actively assessing the areas through further targeted and staged exploration. This work will be concurrent with on-going development review and assessment at Terakimti, Mato Bula, and Da Tambuk (see positive Preliminary Economic Assessment study (“PEA”) news release April 30, 2018) in the Federal Democratic Republic of Ethiopia (“Ethiopia”). The full undertaking of this exploration will remain dependent upon additional financing being completed.

MB Trend Figure Harvest Deep EM Target Areas

The Company has maintained a steady multi-project advancement strategy over years of exploration, building value by drilling out key areas of mineralization to establish core base assets.  The release of positive PEA results for the three close spatially related projects listed above now provides a foothold for working to potentially improve and expand resources on the projects through additional systematic exploration. Priority targets include:

Adyabo Property

Mato Bula and Da Tambuk

Metallurgical test work is currently being coordinated at Blue Coast Metallurgy Ltd. in BC, in order to facilitate a resource update primarily incorporating the 2017 diamond drill program at Mato Bula.

Both Mato Bula and Da Tambuk lie along a geologically defined trend (the Mato Bula trend) characterised by anomalous base and precious metal soil values, and prospective alteration similar to that in the deposit areas. Additional work warranted to potentially locate additional mineralization includes;

• 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 known 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-press release dated January 15, 2015).
• 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-press 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.
• Regional I.P. survey – To delineate additional targets to depth along the Mato Bula Trend.
• Da Tambuk Silica Ridge – Two target areas of artisanal workings, silica alteration, and anomalous multi-element soil geochemistry remains to be trench and drill tested.
• Da Tambuk deposit – Infill and extension drilling required (deposit currently open to depth and south).

A photo accompanying this release is available at http://resource.globenewswire.com/Resource/Download/058aaff8-5570-40f0-984e-dd23fa442e6d

Harvest Property

Terakimti

The company has recently released positive PEA results for the Terakimti Gold Heap Leach Project (news release April 30, 2018), which includes the oxide cap portion of the overall Terakimti VMS deposit. Additional work warranted here includes;

• Supergene - High grade copper mineralization delineation drilling.
• Primary - VMS mineralization delineation drilling.
• Downhole/deep EM – To potentially identify additional targets at depth.

Terakimti VMS trend, VTEM09

The company has identified a corridor of anomalous surface geochemistry between the Terakimti deposit and the VTEM09 prospect (a six kilometer 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 drillhole TVD009 - press release dated March 27, 2017).

• VTEM09 - Metallurgical work, potential resource work, potential additional diamond drilling.
• Deep EM testing – To test the corridor between Terakimti and VTEM09 for potential additional targets.

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 – press release dated March 27, 2017).

• Mayshehagne - Metallurgical work, potential resource work, potential additional diamond drilling.
• Deep EM testing – To test the Mayshehagne trend area for potential additional targets.

A photo accompanying this release is available at http://resource.globenewswire.com/Resource/Download/b00d5aac-4dc8-4745-b3a4-14987abcffb9

Additional Project Information

Mato Bula, Terakimti, and Da Tambuk are located within 10 km of existing paved highways and the National power grid, and approximately 35 km from the town of Shire, which has an airport and extensive services. The Mato Bula and Da Tambuk projects are located 5 km apart and offer the opportunity to share access road and power line construction costs. The Terakimti gold project is approximately 15 km from Mato Bula and Da Tambuk.

Mining Licences

East Africa, through its Ethiopian subsidiary company Harvest Mining PLC, has received a mining licence for the Terakimti Gold Heap Leach Project which provides authorization for the Company to construct and operate a heap leaching operation (see news release dated December 7, 2017).  In addition, and as previously announced, the Company through its Ethiopian subsidiary company Tigray Resources Incorporated PLC, submitted mining licence applications for the Mato Bula and Da Tambuk Projects which are currently in the formal review process by the Ethiopian Ministry of Mines, Petroleum and Natural Gas (see news release dated December 13, 2017).

Management Discussion

The Company believes the work and advancement on the projects completed to date display both the significant mineral potential of this area of the Arabian Nubian Shield, and also the accommodative Ethiopian regulatory environment that is facilitating the progress of the projects.

“East Africa’s management has established objectives to advance the company’s Ethiopia assets through exploration and development agendas,” stated Andrew Lee Smith, CEO of East Africa Metals. “The exploration objectives described in this release are aimed to increase and upgrade the resource along strike, to depth, and through definition drilling, while the development agenda described in the Terakimti, Da Tambuk and Mato Bula Preliminary Economic Assessments (see press release April 30, 2018) will, once successfully executed, continue to de-risk the project as the Company works towards its objective to establish operations and cash flow.” 

Quality Control

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

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

For further information contact:
Nick Watters, Business Development
Telephone			+1 (604) 488-0822
Email			investors@eastafricametals.com
Website			www.eastafricametals.com

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;  mineral exploration and development; engineering study assessments and results, metal and mineral prices; availability of capital; accuracy of East Africa's projections and estimates, including the mineral resources for the Adyabo and Harvest; estimated timing of receipt of the Adyabo mining licence applications and/or 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; 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, 2017, 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 price of gold, silver, and copper; 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.