Asia Now Resources Corp.
TSX VENTURE : NOW

Asia Now Resources Corp.

February 07, 2011 09:00 ET

Asia Now Expands the High-Grade Gold/Silver and Base Metal Zone to 1,200 Meters Long at Beiya North-11 Drill Rigs Now Operating

TORONTO, ONTARIO--(Marketwire - Feb. 7, 2011) - Asia Now Resources Corp. (TSX VENTURE:NOW) is pleased to announce that the Company now has 11 rigs drilling at Beiya North adjacent to the open-pit Beiya Gold Mine, the largest gold mine in Yunnan Province of China, whose production capacity has been increased to 200,000 ounces of gold annually. The Company's accelerated drill program started last October (see News on October 6, 2010) and a total of 18 holes have been drilled to date. All the holes intersected the mineralized zones as expected and confirm that the Beiya North gold/silver and base metal zone continues for 1,200 meters by 350 to 620 meters and remains open to the north and west.

Dr. Kaihui Yang, President and CEO of the Company, said, "We are very pleased to have received the initial assay results confirming and extending the high-grade zones at Beiya North. Our positive results have caused us to accelerate our drill campaign by adding drills for a total of 11. The additional drills will enable us to develop a NI 43-101 compliant resource estimate at Beiya North sooner than originally planned."

Assay results of six holes returned demonstrate high-grade intercepts as highlighted below, while the assay results for the other 12 holes are expected in late February:

ZK750: intersected mineralized zones with cumulative thickness of 52.8 meters including 15 meters at 3.5 g/t gold, 72 g/t silver and 4.2% lead; 21 meters at 1.1g/t gold; 1.5 meters at 18.7 g/t gold, 221 g/t silver and 16.1% lead; 1.5 meters at 4.4 g/t gold, 66 g/t silver and 4.2% lead; 0.63 meters at 4.16 g/t gold, 928 g/t silver and 23.9% lead; 1.3 meters at 1.9 g/t gold, 155 g/t silver; 1.4 meters at 4.9g/t gold, 92g/t silver and 1.58% copper.

ZK1548: intersected mineralized zones with cumulative thickness of 34.4 meters including 16.1 meters grading 2.1 g/t gold; 1.85 meters at 6.3 g/t gold and 17 g/t silver; 1.5 meters at 6.5 g/t gold; 1.1 meters at 5.0 g/t gold and 13 g/t silver; 1.5 meters at 0.7 g/t gold, 91 g/t silver and 9.7% combined lead and zinc.

ZK1873: intersected mineralized zones with cumulative thickness of 29.4 meters mineralized zone including 10.5 meters grading 0.3 g/t gold, 37 g/t silver and 2.9% combined lead and zinc; 1.3 meters at 78 g/t silver and 7.3% lead; 1.2 meters at 0.4 g/t gold, 61 g/t silver and 9.2% combined lead and zinc.

ZK2658: intersected mineralized zones with cumulative thickness of 12.8 meters including 9.0 meters grading 0.35 g/t gold, 46 g/t silver and 4.2% lead; 0.9 meters at 1.0 g/t gold, 89 g/t silver and 8.8% lead; 0.4 meters at 0.2 g/t gold, 59 g/t silver and 1.3% copper.

ZK350: intersected 1.3 meters grading 0.6 g/t gold, 47 g/t silver and 9.3% combined lead and zinc.

All the holes were drilled vertically, each stepping out 160 to 240 meters from others at Beiya North. Two holes (ZK1873 and ZK2658) stepping out to the north intersected altered intrusions, confirming the proximity to a new center with potential for high-grade skarn mineralization, in addition to the center at the Beiya Gold Mine (see news release on August 9, 2010). The detailed data are being compiled, and a map showing the locations of the drilled holes and the geology will be soon available on the Company's website (www.asianow.ca). Drilling is slowing down for the Chinese New Year in early February, but will be resumed in mid February.

The assay results for the six holes are summarized below:
 
From (m) To (m) Interval (m) Gold (g/t) Silver (g/t) Lead (wt%) Zinc (wt%) Copper (wt%)
Hole ZK340              
243.46 244.81 1.35 0.60 47.0 8.29 1.00  
Hole ZK750              
64.69 71.91 7.22 0.98 69.8 4.97 0.24  
Incl 64.69 66.04 1.35 2.44 217.0 13.47 0.42  
76.13 77.33 1.20 0.31 7.0 1.89 0.34  
91.87 112.98 21.11 1.13 5.2 1.43 0.20  
Incl 97.59 99.09 1.50 2.66 6.0 1.45 0.16  
Incl 105.09 106.59 1.50 2.16 13.0 4.72 0.49 0.18
Incl 109.94 111.34 1.40 3.42 3.0 1.38 0.26 0.15
121.75 136.72 14.97 3.49 72.0 4.13 0.23  
Incl 123.25 124.55 1.30 2.63 3.0 1.65 0.25  
Incl 124.55 125.46 0.91 3.95 4.0 2.55 0.31  
Incl 129.16 130.66 1.50 18.70 221.0 16.12 0.25 0.15
Incl 130.66 132.16 1.50 4.41 66.0 4.19 0.16  
Incl 133.66 134.86 1.20 2.17 3.0 0.78 0.18  
Incl 136.09 136.72 0.63 4.16 928.0 23.90 0.67 0.52
208.56 209.36 0.80 0.45 31.0 3.56 1.26  
214.56 216.06 1.50 0.44 17.0 2.81 0.95  
282.11 286.91 4.80 0.72 73.2 3.61 0.88  
Incl 284.34 285.68 1.34 1.91 155.0 3.29 1.71 0.11
341.68 343.09 1.41 4.93 92.0 0.65 0.94 1.58
354.80 355.98 1.18 0.58 33.0 0.12   0.28
Hole ZK1548              
138.72 140.22 1.50 0.10 13.0 4.15 0.56  
164.40 165.90 1.50 0.71   0.66    
191.44 194.12 2.68 1.33 8.1 0.74 0.10  
272.22 278.59 6.37 0.75 40.2 2.96 0.94  
Incl 273.42 274.92 1.50 0.68 91.0 8.70 0.95 0.12
Incl 274.92 276.01 1.09 1.79 36.0 2.02 1.91  
326.48 327.81 1.33 1.59 3.0      
331.65 333.50 1.85 6.25 17.0 0.12   0.11
331.65 347.79 16.14 2.13 8.6     0.12
Incl 331.65 333.50 1.85 6.25 17.0 0.12   0.11
Incl 338.00 339.50 1.50 6.50 7.0     0.11
Incl 344.40 345.53 1.13 4.97 13.0     0.14
350.79 352.29 1.50 0.90        
356.79 358.29 1.50 2.08 5.0     0.10
Hole ZK1873              
182.41 183.41 1.00 0.34 6.0 0.52 0.21  
187.69 193.57 5.88 0.09 35.6 1.20 1.30  
194.97 196.37 1.40 0.65 7.0 0.67 0.26  
199.09 202.04 2.95 0.12 23.4 2.30 1.21  
211.84 217.47 5.63 0.22 37.3 2.35 2.56  
Incl 214.76 216.00 1.24 0.42 61.0 4.45 4.69  
229.01 229.91 0.90 0.07 18.0 1.58 2.38  
238.37 239.52 1.15 0.35 29.0 3.10 0.14  
244.21 254.74 10.53 0.28 36.8 2.50 0.21  
Incl 246.36 247.16 0.80 0.64 60.0 4.34 0.38  
Incl 248.06 249.16 1.10 0.13 78.0 7.32 0.08 0.12
Hole ZK2658              
138.47 141.92 3.45   27.7 1.69 0.30  
182.47 191.44 8.97 0.50 46.5 4.20 0.24  
Incl 183.48 184.38 0.90 0.99 88.9 8.81 0.21 0.10
311.32 311.67 0.35 0.15 59.3 0.25 0.66 1.26
Hole ZK3458              
105.23 110.68 5.45   17.8 0.95 0.60  
151.41 154.41 3.00   13.0 1.05 0.85  
170.14 171.64 1.50   26.0 2.15 0.05 0.09
Note: cutoff grades are 0.5 gram per tonne for gold and 1.0 % for combined lead and zinc. The interval is a drill intercept width; the true thickness is unknown as yet.

Asia Now has earned 72% with the option of increasing to 90% our 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.

SAMPLING, ASSAYING, QUALITY CONTROL AND QUALIFIED PERSON

Drill core samples were cut in halves using a diamond saw. One half of the core was sampled and 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 SGS-CSTC Standards Technical Sciences Co. Ltd in Tianjin 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 other 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 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. Under the leadership of an experienced management team, the Company is taking exploration into the next phase of success.

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.

Contact Information

  • Asia Now Resources Corp.
    Kaihui Yang
    President
    +1 (416) 364-7281
    or
    Asia Now Resources Corp.
    Andreas Curkovic
    Investor Relations
    +1 (416) 364-7281
    www.asianow.ca