Wednesday, 6 October 2010

Asia Now Preps Six Rigs To Work Beside Gold Neighbour

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


Being next door to a large producing gold operation combined with very encouraging drill results is the perfect formula to motivate any junior company to step up exploration.

As such, it's clear why Asia Now has announced that it will be moving 6 to 8 rigs to its Beiya North property in China. The mobilization is set to occur in conjunction with the closing of a recently announced financing that will be taken up by NOW's partner and major investor China Gold.

Asia Now's Beiya North property sits adjacent to the largest gold mine in the Yunan Province which is reportedly expanding annual production to 200 thousand ounces.

The existing open-pit mine is looking to expand. Asia Now has all of the surrounding land covering 586 square kilometres. Owners of the gold mine have 20 rigs drilling 40,000 metres of high-grade massive copper-gold sulphides right on the border of Asia Now's property.

Asia Now is looking to drill 17,400 metres on a grid of 80 metres by 80 metres to prove up a 43-101 compliant resource next to the mine.

See full news release here....