Asia Now Resources Corp.
TSX VENTURE : NOW

Asia Now Resources Corp.

August 18, 2010 08:30 ET

Asia Now Identifies More Copper-Gold-Molybdenum Porphyries at Habo

TORONTO, ONTARIO--(Marketwire - Aug. 18, 2010) - Asia Now Resources Corp. (TSX VENTURE:NOW) is pleased to release assay results for samples from recently completed tunnels, drill holes and surface outcrops at its Habo property in Yunnan Province, China. The results indicate three new copper-gold-molybdenum porphyry systems in addition to the 2.3 km long by 1.3 km wide porphyry mineralization system at Habo South.

Three new copper-gold-molybdenum porphyries have been indicated by recent surface geological programs including 636 rock-chip samples taken over a 40 square kilometre area at Habo North and East. These porphyries show extensive alteration and stockwork mineralization with samples containing up to 3.1g/t of gold, 0.42% copper and 0.29% molybdenum and 172g/t silver (see below the chart of selected assay results), in addition to high-grade veins (up to 2.96 g/t gold, 242 g/t silver, 0.94% molybdenum, 9.96% copper, see news release dated January 7, 2008). At Habo South, 7 new tunnels and 2 new drillholes intersected extensive alteration and mineralization zones with high-grade intervals grading up to 1.0% copper, 0.21% molybdenum and 47g/t silver (see below), similar to previous results (see news release dated February 26, 2008).

"We are highly encouraged by the surface indication of three additional copper-gold-molybdenum porphyries," said Dr. Kaihui Yang, the President of the Company. "We are planning a program that will include extensive trenching, tunnelling and drilling to test these new mineralized porphyries. We will continue to focus on high-grade porphyry systems that have potential for bulk tonnage, open-pittable mining at Habo."

Habo is located at the southeast part of the productive Tethyan magmatic belt that contains some of the world's largest porphyry systems such as Sar Cheshmeh in Iran, and Reko Diq in Pakistan. Results to date indicate strong geological similarities between the Habo porphyries and the big systems in Iran and Pakistan.

Assay results are summarized below.

From (m) To (m) Interval (m) Au (g/t) Ag (g/t) Cu (wt%) Mo (wt%)
Outcrop sample#      
1B5 chips   0.60   0.01 0.001
1D6 chips   0.63   0.01 0.002
5A4 chips   1.59      
5A8 chips   0.64      
6B5 chips     12.1 0.09 0.024
9B2 chips   1.27 4.36    
13B8 chips   0.69      
13D4 chips   0.68      
14A4 chips   0.83 27.9 0.14 0.003
14A5 chips   0.21     0.001
14A8 chips   0.74     0.001
14B7 chips   0.82   0.02  
14C8 chips   0.17 3.96 0.02 0.002
14D4 chips   0.14   0.03 0.004
15D2 chips   0.52     0.001
15D8 chips   0.26      
16D2 chips   0.21      
D1006H1 chips   0.15   0.13  
D1018H1 chips   0.04 172.0 0.08  
D1026H1 chips   0.18 3.00 0.18 0.002
D1028H1 chips   0.11 2.00 0.19 0.017
D1040H1 chips   0.11 4.00 0.09  
D1046H1 chips   1.20 5.00    
D1048H1 chips   0.12 11.0 0.42 0.025
D1060H1 chips   0.11 11.0 0.04 0.002
D1060H2 chips   0.22      
D1077H1 chips   0.62   0.01  
D1080H1 chips   0.21 7.00 0.09  
D1084 H1 chips   0.22      
D1091 H2 chips   0.85   0.02  
D1093 H2 chips   0.82 22.0 0.08 0.003
D1094 H1 chips   0.10 19.0 0.08 0.002
D1097 H1 chips   0.14 6.00 0.03 0.031
D1098 H1 chips   0.19 3.00 0.06 0.106
D1103 H1 chips   3.10   0.02 0.002
D1110 H1 chips   0.11   0.02 0.058
D1114 H1 chips   0.19 70.0 0.21 0.014
D1116 H1 chips   1.99 7.00 0.12 0.054
D1121 H1 chips   0.12 3.00 0.07 0.003
D1122 H1 chips   0.11   0.13 0.024
D1123 H1 chips   0.16 6.00 0.29 0.044
D1124 H1 chips   0.13 4.00 0.19 0.294
D1125 H1 chips   0.96 4.00 0.09 0.002
D1126 H1 chips   0.10 4.00 0.12  
D1129 H1 chips   0.19   0.04  
D1133 H1 chips   0.18   0.02  
D1135 H1 chips   0.44   0.10  
D1137 H1 chips   0.26   0.10  
D1138 H1 chips   1.02   0.12  
D1139 H1 chips   0.10   0.03  
D1143 H1 chips   0.16 6.00 0.05 0.018
D1163 H1 chips   0.08 11.0 0.07 0.055
D1164 H2 chips   0.51 23.0 0.06  
D1166 H1 chips   0.35   0.05 0.023
D1178 H1 chips   0.04   0.11 0.050
D1179 H1 chips   0.09 8.00 0.14 0.017
D783H1 chips   0.14 11.0 0.04  
D715H1 chips   1.92   0.01  
D756H1 chips   0.10 4.00 0.03 0.010
D651H1 chips   0.14 2.00 0.01  
D702H1 chips   1.83   0.02  
D627H1 chips   0.51 16.0 0.17 0.001
D693H1 chips   0.23 6.00 0.06 0.180
D609H1 chips   0.17 9.00 0.12 0.235
D712H1 chips   0.89 3.00 0.04 0.001
D760H1 chips   0.42 2.00    
D774H1 chips   0.20 16.0 0.05 0.012
D667H1 chips   0.25      
D380H1 chips   0.16 7.00 0.01  
             
Tunnel            
PD12             
  13.90 16.40 2.50 0.02 6.00 0.07 0.040
  19.10 21.80 2.70 0.03 3.44 0.12 0.018
  37.00 38.20 1.20 0.06 11.0 0.20 0.036
  45.70 59.20 13.50 0.04 6.11 0.13 0.027
  68.70 70.70 2.00 0.03 3.00 0.21 0.015
  104.00 105.50 1.50 0.09 10.0 0.26 0.009
  107.00 115.20 8.20 0.03 5.59 0.23 0.051
  118.20 127.50 9.30 0.04 6.28 0.37 0.027
  Incl 121.7 123.20 1.50 0.07 10.0 0.90 0.018
  138.30 139.90 1.60 0.02 7.00 0.07 0.029
PD13            
  19.30 20.10 0.80 0.12 6.00 0.65 0.002
  47.10 50.10 3.00 0.04 4.50 0.41 0.006
  51.60 53.10 1.50 0.04 5.00 0.58  
  71.50 74.20 2.30 0.22 24.9 0.35 0.002
  91.90 92.90 1.00 0.05 10.0 0.44 0.004
  178.90 184.90 6.00 0.04 8.33 0.22 0.021
  189.90 207.90 18.00 0.06 10.6 0.17 0.073
PD14            
  60.40 61.00 0.60   3.00 0.32  
  86.50 88.00 1.50 0.04 47.0 0.07  
  88.00 89.50 1.50 0.04 16.0 0.20  
  100.00 101.50 1.50 0.02 5.00 0.27 0.009
  119.70 121.20 1.50 0.03 10.0 0.30 0.007
PD15            
  71.30 74.40 3.10 0.15   0.21 0.006
  80.60 86.60 6.00 0.03 4.00 0.23 0.025
  94.10 95.60 1.50 0.02   0.14 0.034
  98.60 101.60 3.00 0.02 3.00 0.35 0.027
  104.60 125.60 21.00 0.03 2.21 0.21 0.041
  128.60 130.10 1.50     0.11 0.023
  156.30 160.80 4.50 0.02   0.12 0.023
  174.00 175.50 1.50 0.05 3.00 0.22 0.007
  178.70 180.20 1.50 0.02   0.23 0.012
  183.20 187.70 4.50     0.23 0.025
  191.70 196.30 4.60 0.03   0.21 0.033
  202.30 203.80 1.50 0.05 2.00 0.25 0.010
  205.30 206.80 1.50 0.01   0.12 0.018
  211.30 247.80 36.50 0.06 2.60 0.28 0.015
  264.50 265.30 0.80 0.06 6.00 0.16 0.094
PD16            
  15.60 17.10 1.50 0.28 10.0 0.08  
  21.30 22.80 1.50 0.26 4.00 0.11  
  165.90 167.40 1.50 0.26 3.00 0.37  
PD17            
  21.10 22.60 1.50 0.08 30.0 0.10 0.057
  27.10 28.60 1.50 0.13 5.00 0.04 0.036
  91.40 92.20 0.80 0.19   0.04 0.031
             
Drillhole            
HBD11            
  45.10 85.11 40.01 0.16   0.16  
  276.94 278.44 1.50     0.36  
  290.37 291.87 1.50     0.04 0.093
  413.49 414.99 1.50     0.02 0.047
  449.64 454.03 4.39     0.04 0.096
  520.89 522.39 1.50     0.59  
  525.39 528.39 3.00     0.28 0.021
  531.78 545.28 13.50     0.07 0.023
  558.78 560.28 1.50     0.04 0.035
  563.28 567.78 4.50     0.03 0.030
  576.78 581.28 4.50     0.02 0.045
  592.98 594.48 1.50     0.05 0.023
  595.98 597.74 1.76     0.16 0.024
             
HBD12            
  28.50 34.50 6.00     0.02 0.020
  194.05 195.55 1.50     0.34  
  285.76 287.26 1.50     0.32  
  289.76 290.94 1.18     1.00  
  321.45 327.45 6.00     0.45 0.004
  Incl 322.95 324.45 1.50     1.00 0.006
  331.95 333.26 1.31     0.21 0.013
  348.20 351.20 3.00     0.35 0.033
  375.47 379.97 4.50     0.41 0.033
  383.96 392.96 9.00     0.47 0.011
  Incl 389.96 392.96 3.00     0.75 0.210
  407.96 409.46 1.50     0.33  
  412.46 413.96 1.50     0.28  
  415.46 418.46 3.00     0.31  
  472.46 473.96 1.50     0.12 0.021
  487.74 490.94 3.20     0.14 0.022
Note: cutoff grade is 0.2g/t, 0.2% copper and 0.02% molybdenum.

The Habo Project involves a cooperative joint venture with Yunnan Geology and Mineral Resources Company Limited called Yunnan Now Mineral Exploration Company Limited. It covered initially an area of 162 sq. kilometres, in which Asia Now can earn an interest of between 70% and 88%. Soil and stream sediment sampling and geological mapping have been carried out on the whole area of 162 square kilometres, and have identified a number of copper-gold-molybdenum anomalies and mineralization zones. Low potential areas have been relinquished, and only 59.76 square kilometres of high potential area has been kept for further exploration.

SAMPLING, ASSAYING, QUALITY CONTROL AND QUALIFIED PERSON

Tunnels were sampled by channelling along one side of the tunnels, each sample being 1.0 to 2.0 metres long by 15 cm wide by 3 cm deep and weighting 6 to 12 kilograms. Mineralized intervals were sampled based on the width of mineralization, each sample consisting of chips totalling between 3 and 8 kilograms. Drill core samples were cut in halves using a diamond saw. One half of the core was sampled and assayed. Rock-chip samples of 1 to 3 kilograms were taken from the surface outcrops mostly from the ridges and valleys. All the 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 international laboratories.

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 with 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 three major projects, with drilling underway at two of these. Under the leadership of an experienced management team, the Company is taking exploration into the next phase of success.

The TSX Venture Exchange has not reviewed and does not accept responsibility for this news release.

Contact Information