EAST COAST MINERALS NL - ASX: ECM

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Description

East Coast Minerals is an Australian based exploration company listed on the Australian Stock Exchange (ASX:ECM). The philosophy of the company is to become a "mining house", whereupon we take an interest in promising mining opportunities and apply our expertise to commercialise and crystallise the opportunity to create and extract shareholder wealth. We will continue to look for new prospects, joint ventures and investments in the mining and exploration sectors in Australia and elsewhere.

Elizabeth Hill Project

(East Coast 69.88%, Legend Mining 30.12%)

The Elizabeth Hill project is a long standing project of East Coast located near Karratha Western Australian.

A further 5 Reverse Circulation (RC) holes for 975m were completed during the quarter targeting the Sub-audio Magnetics (SAM) and Electromagnetic(EM) anomalies identified (Figure 2). The drill program total was 17 RC holes for 2,602m with 657 (4m composite) samples being submitted for assay. Results have been received with anomalous silver assays being returned over significant portions of the SAM anomalies, see below:

* 32m @ 4g/t Ag, EH14, 72-104m
* 44m @ 4.1g/t Ag, EH15, 24-68m
* 16m @ 5.4g/t Ag, EH17, 44-60m

Unfortunately the results for individual assays did not get above 6.8g/t Ag over 4m. Whilst it is believed that the drill program has been a technical success, the results are not of the tenor previously mined from the underground mine. The directors are in the process of assessing these results to determine the next course of action.

Gossan Dam Project

The Exploration License over the Gossan Dam base metal and silver prospect is near Mukinbudin, which is 300Km east of Perth in Western Australia. No resource has been defined in the area, but significant mineralisation has been identified by rock chip sampling and limited drilling from previous companies.

In 1970, Asarco Australia Ltd carried out rock chip sampling. The results recorded maximum values of 3.25% Zn (Zinc), 1.16% Pb (Lead), 77g/t Ag (Silver) and 9.6% Mn (Manganese). In 1976, Otter Exploration NL carried out further rock chip sampling and returned grades of up to 6.8% Zn, 6.7% Pb and 127g/t Ag from the gossan and 5.2% Zn, 2.4% Pb and 98g/t Ag from the surrounding syenite host rocks.

In 1977, Shell Minerals Exploration (Australia) Pty Ltd undertook drilling. The best results recorded averaged 1.03 metres @ 1.00% Cu, 1.50% Pb, 1.70% Zn and 760g/t Ag (fillet sample) and 0.65% Cu, 1.58% Pb, 1.81% Zn and 680g/t Ag (quarter BQ core sample) from 85.09m. A total of 7 Diamond Drill holes for 930.95 metres and 3 Percussion holes for 141 metres have been drilled. All drilling undertaken was based on the view that the mineralisation dipped to the south.

In 1997, Merrit Mining NL undertook further sampling of gossans. The best results recorded were 2.23% Zn, 1.01% Pb, 34.8 g/t Ag and 12.9% Mn. All the previous work has concluded that potential exists for extensions to the known high grade silver mineralisation. However, the complex geophysical magnetic anomalies remain untested and no drilling has ever tested the potential for a north dipping mineralised system.

East Coast is in the final stages of a desk top study to outline potential exploration initiatives to look at methods of defining targets. Regional airborne magnetic and radiometric data has been acquired and processed. Due to seasonal pastoralist cropping a field visit is not scheduled until later in the year.

Kurabuka Creek Project

An exploration application was applied for at Kurabuka Creek in the Gascoyne mineral field. The area is prospective for base metals and silver. Recent work has been in finalising a Heritage Agreement which will then allow the tenement to be granted.

Mine For

silver, lead, zinc, copper

Location of operation(s)

Western Australia

Address

Ground Floor, 3 Richardson Street
WEST PERTH, WA, AUSTRALIA

Phone

(08) 6389 5775

Email

Website

http://www.eastcoastminerals.com

Last Updated

8/4/2011