Thursday, 18 October 2007

Asia Now Receives Chinese Approval

Asia Now (NOW: TSX-V)

Almost two years since Asia Now first assessed its Great Wall project, the Hebei Government has granted a two exploration licenses for the company and its cooperative joint venture (CJV) partner, Hebei Now Resources Co. Ltd.
Asia Now is earning an 80% interest in the joint venture.

Geological and geochemical mapping and sampling were completed in early 2006. The results showed that within the 24-square-kilometer area there was gold mineralization. The Great Wall project also sits next to existing open pit mines that are in full operation and is only a short drive from Beijing.

Modern western exploration techniques have never been applied in this area where successful smaller gold mines exist. It should be worth the wait as all the T’s are crossed and the I’s are dotted and Asia Now can move forward with full consent of the provincial and central government’s as well as gaining military approval.

The Great Wall project includes approximately 14 km of a known mineralized structural corridor. The Company has also applied for additional mining rights to cover approximately 40 km of this structural corridor.

Click here to read the press release.