Wednesday, 28 April 2010

Asia Now Ramps Up Drilling Next Door to Large Producing Gold Mine

Asia Now (TSX-V: NOW)
Basic Shares: 65.5 million
Fully Diluted: 68.3 million
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The key to this announcement is the drilling program at its Beiya property in southern China, which is targeting areas immediately adjacent to the largest gold mine in Yunnan Province. This neighbouring mine is expected to produce 200,000 ounces of gold this year. The two drill programs have been planned around encouraging results from the company’s 2009 exploration programs.

Here are the highlights from the release on the two drill programs.

Beiya
• 17,400 metres in two phases.
• Infill drilling on a grid 80 meters by 80 meters is being carried out to define the extent of the main, thick gold-silver zone confirmed by drilling at 160 metres by 160 metres in 2009.
• Four drilling rigs are operating on Asia Now’s Beiya project and additional rigs will be moved in.
• There are plans to contract an independent consultant to provide a NI 43-101 Standard resource estimate in Beiya North.

Habo
• Asia Now has confirmed a large porphyry copper-molybdenum-gold mineralization system that covers an area of 2,300 metres by 1,300 metres at Habo South, and two tunneling programs continue to define the extent of high-grade molybdenum and copper zones.
• Regional comprehensive geological and geophysical programs will focus on testing other geochemical anomalies to discover more high-grade porphyry mineralization systems.
• Habo is located at the under-explored, southeast part of the productive Tethyan belt that contains some of the world's largest porphyry copper-gold-molybdenum ore deposits such as Sar Cheshmeh in Iran, and Reko Diq (owned by Barrick Gold, etc.) in Pakistan.

The company will be following up with more information detailing the timing and cost of the drill programs.

To view the full release, please click here.