Asia Now Finds Up to 14.1 g/t Gold in Residual Magnetite at Beiya

04 December 2007 | 06:03 Code : 16123 Geoscience events
Asia Now Resources Corp. (TSX VENTURE: NOW) today reported assay results....

  Asia Now Resources Corp. (TSX VENTURE: NOW) today reported assay results from samples of residual magnetite collected from its Beiya property in Yunnan Province, China. The results, which hit a high of 14.1 grams per tonne (g/t), indicate a potential gold resource. These lie in the residual soils with potential for underlying primary gold mineralization at the northeast extension of the Beiya North gold zone that extends for 13 kilometres."We are very excited about Beiya North, and these early results only add to our expectations," says Asia Now President Kaihui Yang. All of the 58 samples of coarse magnetite were collected from the residual soil and contain various amounts of gold and base metals. The gold content ranges mostly from 0.5 to 3.0 g/t averaging 1.8 g/t with values up to 14.1 g/t. The significant assay results are listed below:

           Au      Ag     Pb      Zn
          g/t     g/t    wt%     wt%
CT001    1.30    4.70   0.59    0.17
CT002    1.05    5.20   0.51    0.13
CT003    1.08    4.70   0.43    0.12
CT004    0.11    8.50   0.66    0.28
CT005    0.93    5.80   0.51    0.20
CT006    0.97    4.10   0.52    0.16
CT007    1.37    3.60   0.44    0.12
CT008    0.43   10.50   0.88    0.19
CT009    1.14    6.00   0.57    0.17
CT010    0.53    2.90   0.32    0.07
CT013    0.91    2.80   0.22    0.07
CT014   11.30    9.30   0.55    0.17
CT015    2.45    9.90   0.49    0.15
CT016   14.10    5.60   0.43    0.14
CT017    0.91    8.70   0.75    0.20
CT018    0.26    7.00   0.83    0.20
CT019    0.79    8.30   0.75    0.27
CT020    0.46    3.30   0.19    0.04
CT021    1.61    5.70   0.47    0.13
CT023    0.10    3.50   0.11    0.06
CT029    3.51    3.90   0.51    0.14
CT030    1.51    5.20   0.42    0.12
CT031    0.63    9.10   0.49    0.12
CT032    0.27    2.50   0.41    0.08
CT033    2.41    8.20   0.66    0.20
CT034    0.71    3.80   0.48    0.10
CT035    0.11    2.70   0.23    0.08
CT041    2.43   12.70   0.59    0.29
CT042    1.40    4.20   0.30    0.07
CT043    2.36    4.40   0.54    0.06
CT044    1.51    7.20   0.53    0.11
CT045    1.42    5.60   0.92    0.13
CT046    0.93    4.90   0.43    0.08
CT053    0.20    1.90   0.14    0.06
The samples were collected from a 3.6-sq.-km area (16 samples for each square kilometre) to test a large gold anomaly in the northeast part of the Beiya North block. The area has typical limestone landscape, covered extensively with varying thickness of residual soil that contains magnetite debris (described as magnetite "bullets") of widely variable size. The extensive distribution of the residual gold-bearing magnetite suggests significant potential for primary gold mineralization at depth. In addition to this area, the magnetite bullets have been found in most parts of the Beiya North zone. The gold-bearing magnetite bullets are an easily-exploited resource and have been mined by local people, who sell them as iron ore.This gold mineralized area is at the northeast end of the 13-km-long gold anomaly that includes the 1,200-metre-long newly discovered gold and basemetal zone (reported previously) and the adjacent +2-million-ounce Beiya Gold Mine, the largest open-pit gold mine in Yunnan.The Company plans to assess the potential gold resource of the residual magnetite, examine the surface geology and drill-test the primary gold mineralization zone at depth. In the adjacent area to the southwest of the Beiya North block, the Company is currently drilling to test the 130-metre-thick gold and basemetal zone.The Beiya North block hosts one of two major gold zones that the company has identified on the 586-sq.-km Beiya property through soil and bedrock geochemical sampling. The second major gold-anomalous area on the Beiya property covers more than 12 square kilometres in the Beiya Far North block, about 12 km north of the Beiya North block. A total of four holes have been completed and sampled with assay results pending.The Beiya property involves two joint venture companies. The Company is earning a 70-88% interest in a joint venture with partner Yunnan Geology and Mineral Resources Company Limited and a 72-90% interest in a joint with partner Yunnan Non-Ferrous Geology and Mineral Resources Company Limited. The project area is 60 km by highway north of the city of Dali, which is a 35 minute flight from Kunming, the capital city of Yunnan Province. There are several daily flights, a railway and a paved highway between the two cities. The Beiya project is one of the two key projects that the Company is exploring in China.Magnetite debris samples were collected from the residual soil, each from an area of one meter square. Samples were assayed using aqua regia digestion with AAS determination for gold, and hydrochloric/perchloric (HCl/HClO4) digestion with ICP-MS determination for copper, molybdenum, silver, zinc, lead and others (a total of 35 elements). For samples with Cu grade higher than 1%, a four acid (HCl/HNO3/HClO4/HF) digestion method and AAS determination were applied. All the assays were completed at Intertek Laboratory in Beijing in accordance with international standard ISO17025. To maintain independent quality control on the laboratory, duplicate samples are submitted from 5% of sample sites, and replicate samples are submitted for 3% of samples. In addition the laboratories use an extensive range of internal standards. External check assays are routinely performed on check samples submitted independently by the Company to Ultra Trace Analytical Laboratories, Canning Vale, Western Australia.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 Exploration and financial controls are implemented in each of the company's exploration projects in Chinaas published on the website of the Company, Exploration on all of the Company's projects is conducted under the direction of Dr. Noel C. White, a director and 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.

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