Tuesday, 16 February 2010

Asia Now Celebrates Chinese New Year With Good News

Asia Now (TSX-V: NOW)
Basic Shares: 65.5 million
Fully Diluted: 68.3 million

Over the past several years, Asia Now has been working towards the goal of proving a sizable gold resource at one of its key properties named Beiya in the province of Yunan, China.

The Beiya property sits adjacent to the largest open-pit gold mine in Yunan, which produces roughly 100,000 ounces of gold per year and has a two million ounce gold reserve. As such, there's no argument that there is gold in the area.

Asia Now has 586 square kilometres of land surrounding the existing open-pit mine, which is looking to expand its operations according to NOW management.
To advance its theory that gold extends well beyond the open-pit operation, NOW drilled an additional 7 holes since its last market update last September. The result was that further mineralization has been proven extending the zone by 120 meters to 780 meters from the mining lease. This mineralization is still open to the north and west on Asia Now's property.

The company is not yet in a position to start talking in terms of reserves as it will have to complete a recognized 43-101 resource report before it can even suggest how big its project may become. The point is that the signs continue to point to NOW's theory that it is in the right place.