Mon Mar 1, 2010 Asia Now Initiates Aggressive Drill Program On Its' Key Gold Property Beiya
Asia Now Resources Corp. (TSXV: NOW) is pleased to announce that the Company has contracted five rigs to immediately continue drilling to define the previously identified resources and to test new targets at its Beiya project starting right after Chinese New Year celebrations end in March 1 this year.
The Beiya project occupies two-thirds of a 13 km long by 2 km wide gold belt with potential for multiple large mineralization systems including the producing Beiya Gold Mine, the largest open-pit gold mine in the Yunnan Province of China. The Beiya Gold Mine has production capacity of up to 100,000 ounces of gold annually and is being expanded to double its' current production .
Strongly encouraged by recent drill results (see news release on February 16, 2010), the Company is continuing exploration at Beiya North. Infill drilling programs at a grid of 80 meters by 80 meters has been planned to define the resource of the main gold zone that is adjacent to the open pit of the producing Beiya Gold Mine. (www.asianow.ca)
Immediately west of the Beiya Gold Mine, a new target is being drilled to test the magnetic anomaly identified from a high-resolution ground magnetic survey recently completed over the area. This anomaly is extended from the Beiya Gold Mine where the highest grades of copper-gold zone were discovered recently to extend into the joint venture's exploration right.
Two rigs are being mobilized to the target at Beiya Northeast, where alteration zones were found at outcrops of limestones within the ground magnetic anomalies and soil geochemical anomalies. This drilling program is to test Skarn copper-gold mineralization zones that extend from the Beiya Gold Mine.
Asia Now has earned 72% with a possibility to increase to 90% interest in the Beiya North property where the Company is currently drilling. Beiya North is part of the Beiya project that involves two joint venture companies. Beiya North is part of the joint venture with Yunnan Non-Ferrous Geology and Mineral Resources Company Limited. The Company is earning a 70-88% interest in another joint venture with Yunnan Geology and Mineral Resources Company Limited. The Beiya project is 60 km by highway north of the city of Dali, which is a 35 minute flight from Kunming, the capital city of Yunnan. There are several daily flights, a railway and a paved highway between the two cities. The Beiya property is one of two key projects the Company is exploring in China.
QUALITY CONTROL AND QUALIFIED PERSON
Quality control and assurance programs are implemented in line with the standards of National Instrument 43-101, as described the independent 43-101 report filed on www.sedar.ca. Exploration and financial controls are implemented in each of the company's exploration projects in China as published on the website of the Company, www.asianow.ca. Exploration on all of the Company's projects is conducted under the guidance of Dr. Noel C. White, a consultant to the Company and a Qualified Person as defined under National Instrument 43-101. Dr. White has read and approved this news release. Disclosure on mineralization on adjacent properties has not been verified by Dr. White and is not necessarily indicative of the Company's anticipated results. Where provided, potential quantity and grade is conceptual in nature as the Company has not conducted sufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.
About Asia Now Resources:
Asia Now Resources Corp. is a mineral exploration company active in China since 2002. The Company has established offices, joint ventures and a significant network with Chinese partners. Current projects include copper, gold and silver at two major projects, with drilling underway at both. Under the leadership of an experienced management team, the Company has a sound balance sheet and sufficient working capital to take exploration into the next phase.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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