Asia Now Resources Corp.

Asia Now Resources Corp.

February 23, 2007 13:59 ET

Asia Now's First Hole at Beiya Intersects Shallow Gold-Silver Zones Within 13-km Gold Anomaly That Covers Adjacent Open-Pit Mine

TORONTO, ONTARIO--(CCNMatthews - Feb. 23, 2007) - Asia Now Resources Corp. (TSX VENTURE:NOW) is pleased to report assay results from the first drill hole and from soil samples at its Beiya Project in Yunnan Province, China.

The first drill hole, BYN-ZK1, was located in the Beiya North anomaly 500 metres north of an operating open-pit gold mine adjoining the Company's property. Assay result highlights are as follows:

From (m) To (m) Intersection (m) Av. Gold (g/t) Av. Silver (g/t)
28.77 29.82 1.05 5.76 16.10
100.51 101.79 1.28 4.15 29.25
128.60 146.82 18.21 1.12 28.06

Hole BYN-ZK1, inclined at 70 degrees, was planned to drill to a depth of 400 metres to test gold mineralization extending from the adjacent mine, but was stopped at 259 metres when it hit an unexpected structural zone. A second hole, collared 105 meters north of the first hole, is now being drilled and an additional 10 holes are planned in this first phase of drilling.

In addition to drilling, soil sampling at Beiya North and an adjoining concession, Beiya Northeast, identified a large gold anomaly extending for 13 km and up to 2.0 km wide with 434 samples out of a total of 4327 samples returning higher than 10 ppb gold (against a background of less than 3 ppb) and 63 samples returning values from 0.1 to 1.7 grams per tonne (g/t). Approximately half of the anomaly, which covers an area of more than 10 sq. km, lies within Asia Now's joint venture area and half lies within the Beiya Mine's mining lease. The Beiya Mine, in which Asia Now holds no interest, is wholly owned by Asia Now's joint venture partner.

Rock samples collected from the anomalous zone in the joint venture area, which include 16 new chip samples in addition to previously reported chip and channel samples, returned up to 33 g/t,with most returning 0.4-2.3 g/t gold. The anomaly is associated with a previously reported pronounced magnetic ridge, which is interpreted to correspond to an underlying intrusion, believed to be the source of the mineralization.

"This is an extremely large, high gold anomaly," said Noel White, a consultant and director of the Company. "This anomaly shows features indicating a different style of gold mineralization than found elsewhere on our concessions, and is associated with shallow intrusions extending from the open pit of the adjacent operating gold mine."

The Company believes the presence of high gold values in soil samples and, as previously reported, chip samples of outcrops, in addition to the gold and silver grades intersected in Hole BYN-ZK1 confirm the potential for a near-surface bulk mineable gold deposit at Beiya North.

Gold in the anomaly occurs associated with copper, zinc, lead and molybdenum anomalies, surrounded by weak arsenic, antimony and mercury anomalies.

Mineralization intersected in Hole BYN-ZK1 is hosted in a structural zone in sandstone and consists of a quartz stockwork with disseminated pyrite, chalcopyrite, sphalerite and galena, variably oxidized to a depth of 150 metres. This differs from the magnetite-associated gold found in the open pit of the adjacent Beiya Mine.

An IP survey program is being carried out on the Beiya North block to locate the newly found, sulfide-dominated gold mineralization. The Company is also continuing with exploration at Beiya West and Beiya Far North, where large, strong gold anomalies have been reported previously in brecciated limestones along wide structure zones with local emplaced intrusions, a geological setting favorable for Carlin-type gold deposits.

"At Beiya, we control a huge area of ground with potential to develop into a distinct mining camp with several styles of deposits," said Dr White. "We see gold-bearing magnetite replacement bodies at the Beiya Mine, skarns at Beiya West, and there is indicated potential for sediment-hosted gold deposits (Carlin-type) in Beiya Far North, and for porphyry copper-gold deposits associated with the intrusions that occur throughout the area."

Soil sampling at Beiya North was conducted on a grid of 400-metre or 200-metre line spacing with 40-metre sample spacing. All samples were assayed for nine elements; gold, silver, arsenic, antimony, mercury, bismuth, lead, copper, and zinc.

The Beiya project covers approximately 500 sq. km in Yunnan Province and involves two joint venture (JV) companies. The Company is earning a 70% interest in a JV with partner Yunnan Geology and Mineral Resources Co. Limited (YGMR) and a 72% interest in a JV 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. The Beiya project is one of the four key projects that the Company is exploring in China.


Details of soil sampling procedures and laboratory checks are provided in the NI 43-101 report titled "Technical Report on Three Properties in Yunnan, Peoples Republic of China", dated May 14, 2004, and amended June 6, 2005, and filed on SEDAR. All geochemical samples are collected by experienced field exploration teams following Chinese standard procedures and the requirements of the Company, and closely monitored by Company personnel.

All soil and split-core samples were assayed using the analytical method of aqua regia digestion with atomic absorption spectrometric determination at the Yunnan Central Analytical Laboratory, a certified Chinese laboratory in Kunming. 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 by the laboratory to The National Geological Laboratory, Beijing, and independently by the Company to Ultra Trace Analytical Laboratories, Canning Vale, Western Australia.

Exploration on all of the Company's projects is conducted under the supervision of Dr. Noel C. White, a Director of the Company and a consultant to the Company and a Qualified Person as defined under NI 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 resources and it is uncertain if further exploration will result in the target being delineated as a mineral resource.


Asia Now Resources Corp. is a Canadian mineral exploration company focused solely on projects in the People's Republic of China. To learn more about Asia Now Resources, please visit its web site at

Shares Outstanding: 48,193,238

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

Contact Information