East Asia Minerals* (EAS : TSX-V : $7.54), Net Change: 0.67, % Change: 9.75%, Volume: 399,892
Five words: Eric Sprott’s Highest-Conviction Stock. East Asia released further drill results Tuesday; however, it was
comments from one of Canada’s most well-known fund managers that caught investors’ attention. Eric Sprott stated Tuesday
that East Asia Minerals is his highest-conviction stock. “It has a gold prospect called Miwah that could potentially have an
extremely large gold resource in place, possibly multiples of our current 10-million-ounce estimate,” Sprott said, “We tend to
focus on the gold producers, but once in a while we come across an opportunity like East Asia which can’t be passed up.” As for
the drill results released Tuesday, they were two additional drill holes from the company’s main Miwah zone in Indonesia. Drill
hole EMD028 encountered 1.73 g/t Au over 85.5 metres, including 2.08 g/t Au over 49 metres in the uppermost level. EMD028
was drilled with a due east azimuth and 30-degree dip to test for the extension of alteration and mineralization from
EMD018/019. The hole was collared 130 metres west from section EMD018/019 (where up to 4.08 g/t Au over 81 metres,
including 9.29 g/t Au over 21 metres where drilled). EMD027 was drilled at 180-degree azimuth and 55-degree dip to confirm
thickness and test for gold grade variation in the high-grade vuggy silicification south of EMD024 and north of EMD023 (1.3
g/t Au over 90 m). It returned Au grading 0.62 g/t over 147 metres (29 to 176 metres), including 1.28 g/t Au over 33 metres (29
to 62 metres). Given the location of this hole between two previously strong intersections in 23 and 24, the market likely
expected a more robust result. However, gold systems are typically variable and this is not necessarily negative. The company
has suggested that the area is influenced by a cross cutting fault that disrupts mineralization. Canaccord Genuity Senior Mining
Analyst Wendell Zerb continues to be bullish on the story and believes East Asia's shares could continue to be driven by
speculative interpretations (no formal resources outlined) over the next several quarters, as new results build on the size
potential at Miwah and the surrounding area.