China has proven to be a challenging country for mineral exploration companies to develop assets in, but for those few with knowledge to operate there, the potential is vast.
Asia Now Resources (TSX-V:NOW) is one junior mineral exploration company looking to drive shareholders value by developing projects in China. The company`s primary interest is a 72% stake (with an option to go to 90%) in the Beiya North property, which is located in Yunnan Province, 60 kilometers north of the city of Dali, and adjacent to the Beiya Gold Mine, which is currently ramping up production to 200,000 ounces of gold per annum.
This morning Asia Now Resources reported drilling from four additional holes completed at Beiya North, where the company is currently in the midst of a 17,000 meter drill campaign. The drilling extended the known strike of the gold-silver zone at Beiya North to 940 meters, with mineralization still open to the north and west.
Assay highlights included 14.4 meters in cumulative mineralization in drill hole BYN-ZK1048 of 8.7 meters averaging 2 grams per tonne gold, 145 grams per tonne silver and 15.3% combined lead and zinc, 4.8 meters averaging 3.2 grams per tonne gold, 227 grams per tonne silver and 22.9% combined lead and zinc, plus two additional zones of 2.5 meters and 0.9 meters grading 1.5 grams per tonne gold, 193 grams per tonne silver and 6.7 grams per tonne gold, 324 grams per tonnes of silver and 35.3% combined lead and zinc, respectively.
Drill holes BYN-ZK1861 and BYN-ZK4586 also reported equally promising assay results.
"This is particularly encouraging," said Noel White, the Chief Technical Advisor of Asia Now Resources, "the intersected high-grade zones and the altered intrusions indicate a new center for potential high-grade skarn mineralization, in addition to the Beiya Gold Mine. Beiya North is the key target that we are drilling, and the program is meeting our expectation.”
Asia Now is planning to release a 43-101 compliant resource once the current drill program is complete and assays are reported.
Disclosure: no position