Iron ore weakness to continue into 2025 and beyond, says Fitch Solutions’ BMI
Looking beyond 2024-2025, BMI analysts maintained their view that iron ore prices will likely follow a multi-year downtrend.
TORONTO, ONTARIO–(Marketwire – Sept. 8, 2011) – Asia Now Resources Corp. (TSX VENTURE:NOW) reported today the assay results for 14 drill holes recently completed at its Beiya Project, one of the most prospective areas in China (see news release dated February 22, 2011). These new drill holes expanded the main gold-silver and base metal zone to 1,840 meters by 250 to 700 meters; it remains open to the northwest and east.
Particularly notable, hole ZK1036 intersected 26.7 meters grading 73.4 g/t silver and 6.1% lead, including 7.5 meters at 140.6 g/t silver and 11.7% lead and 1.1 meters at 6.0 g/t gold and 134 g/t silver. This hole is located east of the main mineralized zone, which is adjacent to the open-pit Beiya Gold Mine that produces 200,000 ounces of gold annually. This intersection indicates a new high-grade zone east of the main zone.
Dr. Noel White, the Chief Technical Advisor to the Company, said, “We are particularly pleased by the new results that indicate a high-grade trend in the east in addition to the consistent high grade values along the main zone to the north. These results complement a successful drill program and will make a positive contribution to our upcoming initial NI43-101 resource estimate in this fall.”
In order to capitalize on the recent better than expected drilling results and the progress made with surface geological mapping, the Company has decided to add another 14,000 meters drilling in addition to the previous plan of 40,000 meters drilling for the Beiya project. The increased drilling programs will be focused on new targets prospective for high-grade gold and polymetallic systems at the Beiya area.
Assay results of 14 drill holes with high-grade intercepts are highlighted below:
| From (m) |
To (m) |
Interval (m) | Gold (g/t) |
Silver (g/t) |
Lead (wt%) |
Zinc (wt%) |
Copper (wt%) |
Total Iron (wt%) |
||||||||
| ZK1036 | 　 | 　 | 　 | 　 | 　 | 　 | 　 | 　 | ||||||||
| 188.69 | 215.25 | 26.56 | 0.35 | 73.40 | 6.05 | 0.21 | 0.08 | 26.84 | ||||||||
| Incl 188.69 | 196.19 | 7.50 | 0.12 | 140.60 | 11.69 | 0.05 | 0.12 | 25.34 | ||||||||
| Incl 190.19 | 191.69 | 1.50 | 0.16 | 184.00 | 15.17 | 0.04 | 0.21 | 20.51 | ||||||||
| Incl 214.19 | 215.25 | 1.06 | 5.95 | 134.00 | 2.41 | 0.06 | 0.42 | 31.45 | ||||||||
| 271.05 | 272.55 | 1.50 | 0.02 | 65.00 | 6.01 | 0.04 | 　 | 29.60 | ||||||||
| 　 | 　 | 　 | 　 | 　 | 　 | 　 | 　 | 　 | ||||||||
| ZK358 | 　 | 　 | 　 | 　 | 　 | 　 | 　 | 　 | ||||||||
| 120.27 | 128.88 | 8.61 | 0.08 | 1.35 | 0.66 | 0.21 | 0.03 | 4.93 | ||||||||
| 144.96 | 146.46 | 1.50 | 2.61 | 8.00 | 0.59 | 0.10 | 0.01 | 1.97 | ||||||||
| 192.14 | 202.26 | 10.12 | 0.05 | 4.44 | 1.14 | 0.73 | 0.02 | 4.41 | ||||||||
| 236.08 | 239.00 | 2.92 | 0.80 | 74.00 | 7.56 | 2.14 | 0.13 | 20.86 | ||||||||
| 293.86 | 299.10 | 5.24 | 0.28 | 13.01 | 0.35 | 0.18 | 0.03 | 17.71 | ||||||||
| 　 | 　 | 　 | 　 | 　 | 　 | 　 | 　 | 　 | ||||||||
| ZK644 | 　 | 　 | 　 | 　 | 　 | 　 | 　 | 　 | ||||||||
| 94.77 | 99.27 | 4.50 | 0.06 | 2.00 | 0.75 | 0.91 | 0.02 | 3.76 | ||||||||
| 178.92 | 181.92 | 3.00 | 0.05 | 3.50 | 1.04 | 0.54 | 0.02 | 5.33 | ||||||||
| 187.92 | 189.42 | 1.50 | 0.37 | 1.00 | 0.72 | 0.53 | 0.02 | 4.30 | ||||||||
| 194.48 | 198.98 | 4.50 | 0.18 | 29.00 | 2.15 | 0.49 | 0.01 | 6.13 | ||||||||
| Incl 197.48 | 198.98 | 1.50 | 0.38 | 72.00 | 3.50 | 0.34 | 0.01 | 2.55 | ||||||||
| 　 | 　 | 　 | 　 | 　 | 　 | 　 | 　 | 　 | ||||||||
| ZK660 | 　 | 　 | 　 | 　 | 　 | 　 | 　 | 　 | ||||||||
| 137.69 | 138.84 | 1.15 | 0.06 | 3.00 | 0.15 | 0.27 | 1.21 | 3.29 | ||||||||
| 284.37 | 293.04 | 8.67 | 0.59 | 98.03 | 2.94 | 0.05 | 0.15 | 28.13 | ||||||||
| Incl 287.37 | 288.87 | 1.50 | 1.78 | 311.00 | 2.55 | 0.10 | 0.37 | 26.04 | ||||||||
| 　 | 　 | 　 | 　 | 　 | 　 | 　 | 　 | 　 | ||||||||
| ZK746 | 　 | 　 | 　 | 　 | 　 | 　 | 　 | 　 | ||||||||
| 58.50 | 64.50 | 6.00 | 0.11 | 2.00 | 0.86 | 0.24 | 0.02 | 2.57 | ||||||||
| 82.50 | 84.00 | 1.50 | 0.11 | 1.00 | 0.72 | 0.15 | 0.01 | 3.04 | ||||||||
| 164.47 | 171.97 | 7.50 | 0.25 | 4.40 | 0.97 | 0.43 | 0.08 | 5.81 | ||||||||
| 185.47 | 199.36 | 13.89 | 0.65 | 15.78 | 1.97 | 0.37 | 0.05 | 8.37 | ||||||||
| Incl 195.00 | 196.85 | 1.85 | 3.95 | 55.00 | 6.50 | 0.83 | 0.21 | 28.88 | ||||||||
| 242.86 | 244.36 | 1.50 | 0.27 | 25.00 | 2.04 | 0.17 | 0.05 | 13.50 | ||||||||
| 278.60 | 286.10 | 7.50 | 0.22 | 7.80 | 1.06 | 0.38 | 0.06 | 12.94 | ||||||||
| Incl 280.10 | 281.60 | 1.50 | 0.75 | 7.00 | 2.19 | 0.59 | 0.03 | 24.01 | ||||||||
| 316.82 | 318.32 | 1.50 | 0.04 | 22.00 | 0.03 | 0.02 | 0.49 | 11.15 | ||||||||
| 322.82 | 326.97 | 4.15 | 1.30 | 19.81 | 0.25 | 0.07 | 0.10 | 17.57 | ||||||||
| Incl 325.82 | 326.97 | 1.15 | 2.02 | 18.00 | 0.08 | 0.02 | 0.09 | 10.60 | ||||||||
| 387.70 | 389.20 | 1.50 | 0.86 | 10.00 | 0.01 | 0.01 | 0.52 | 9.42 | ||||||||
| 　 | 　 | 　 | 　 | 　 | 　 | 　 | 　 | 　 | ||||||||
| ZK766 | 　 | 　 | 　 | 　 | 　 | 　 | 　 | 　 | ||||||||
| 202.20 | 208.68 | 7.74 | 0.17 | 5.84 | 0.92 | 0.29 | 0.02 | 6.35 | ||||||||
| 302.38 | 303.88 | 1.50 | 0.51 | 64.00 | 6.26 | 0.01 | 0.08 | 10.50 | ||||||||
| 　 | 　 | 　 | 　 | 　 | 　 | 　 | 　 | 　 | ||||||||
| ZK1044 | 　 | 　 | 　 | 　 | 　 | 　 | 　 | 　 | ||||||||
| 154.36 | 155.86 | 1.50 | 0.09 | 16.00 | 0.82 | 0.28 | 0.01 | 9.19 | ||||||||
| 169.32 | 170.82 | 1.50 | 0.04 | 11.00 | 0.72 | 0.22 | 0.01 | 8.62 | ||||||||
| 177.38 | 188.76 | 11.38 | 0.27 | 13.92 | 1.91 | 1.35 | 0.04 | 10.40 | ||||||||
| Incl 182.48 | 184.26 | 1.78 | 1.16 | 13.00 | 6.75 | 3.75 | 0.12 | 26.82 | ||||||||
| 200.57 | 203 | 2.43 | 2.85 | 25.64 | 4.12 | 2.83 | 0.23 | 27.38 | ||||||||
| 247.8 | 256.09 | 8.29 | 0.09 | 35.22 | 1.48 | 0.42 | 0.07 | 13.41 | ||||||||
| Incl 252.3 | 253.3 | 1.00 | 0.02 | 101.00 | 4.85 | 0.34 | 0.03 | 24.08 | ||||||||
| 275.34 | 276.34 | 1.00 | 2.66 | 26.00 | 0.51 | 0.05 | 0.01 | 9.08 | ||||||||
| 　 | 　 | 　 | 　 | 　 | 　 | 　 | 　 | 　 | ||||||||
| ZK1458 | 　 | 　 | 　 | 　 | 　 | 　 | 　 | 　 | ||||||||
| 118.35 | 119.85 | 1.50 | 0.07 | 25.00 | 3.08 | 0.17 | 0.06 | 4.22 | ||||||||
| 266.91 | 269.91 | 3.00 | 0.18 | 31.50 | 1.04 | 0.38 | 0.08 | 14.52 | ||||||||
| 286.59 | 291.09 | 4.50 | 0.05 | 18.67 | 1.47 | 0.98 | 0.04 | 11.09 | ||||||||
| 297.09 | 298.99 | 1.90 | 0.03 | 41.00 | 2.42 | 0.06 | 0.01 | 17.47 | ||||||||
| 　 | 　 | 　 | 　 | 　 | 　 | 　 | 　 | 　 | ||||||||
| ZK1462 | 　 | 　 | 　 | 　 | 　 | 　 | 　 | 　 | ||||||||
| 239.7 | 242.7 | 3.00 | 0.51 | 17.00 | 1.09 | 0.14 | 0.14 | 12.30 | ||||||||
| 246.53 | 248.37 | 1.84 | 0.42 | 12.00 | 1.08 | 0.11 | 0.09 | 12.87 | ||||||||
| 316.3 | 317.8 | 1.50 | 0.96 | 56.00 | 1.76 | 0.24 | 0.26 | 22.46 | ||||||||
| 　 | 　 | 　 | 　 | 　 | 　 | 　 | 　 | 　 | ||||||||
| ZK1846 | 　 | 　 | 　 | 　 | 　 | 　 | 　 | 　 | ||||||||
| 135.29 | 138.29 | 3.00 | 0.36 | 33.50 | 1.71 | 0.29 | 0.10 | 12.27 | ||||||||
| 　 | 　 | 　 | 　 | 　 | 　 | 　 | 　 | 　 | ||||||||
| ZK3775 | 　 | 　 | 　 | 　 | 　 | 　 | 　 | 　 | ||||||||
| 95.96 | 97.46 | 1.50 | 0.10 | 3.00 | 0.92 | 0.19 | <0.01 | 3.12 | ||||||||
| 　 | 　 | 　 | 　 | 　 | 　 | 　 | 　 | 　 | ||||||||
| ZK4266 | 　 | 　 | 　 | 　 | 　 | 　 | 　 | 　 | ||||||||
| 150.94 | 152.8 | 1.86 | 0.57 | 149.00 | 5.86 | 2.59 | 0.06 | 13.21 | ||||||||
| 192.5 | 196.4 | 3.90 | 0.30 | 46.67 | 3.63 | 0.24 | 0.03 | 27.52 | ||||||||
| 　 | 　 | 　 | 　 | 　 | 　 | 　 | 　 | 　 | ||||||||
| ZK5878 | 　 | 　 | 　 | 　 | 　 | 　 | 　 | 　 | ||||||||
| 72.98 | 74.28 | 1.30 | 0.15 | 3.00 | 1.29 | 0.43 | 0.01 | 6.11 | ||||||||
| 77.28 | 78.78 | 1.50 | 0.27 | 3.00 | 1.27 | 0.39 | 0.02 | 6.65 | ||||||||
| 185.43 | 186.62 | 1.19 | 　 | 12.00 | 0.83 | 0.03 | 0.03 | 7.64 | ||||||||
| 228.89 | 229.94 | 1.05 | 0.01 | 5.00 | 0.67 | 0.04 | <0.01 | 7.79 | ||||||||
| 　 | 　 | 　 | 　 | 　 | 　 | 　 | 　 | 　 | ||||||||
| ZK269 | 　 | 　 | 　 | 　 | 　 | 　 | 　 | 　 | ||||||||
| 　 | No significant mineralization　 | 　 | 　 | |||||||||||||
| Note: cutoff grades are 0.5 grams 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% with a possibility to earn up to 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 a four acid (HCl/HNO3/HClO4/HF) digestion method and AAS determination for gold, silver, lead, zinc, copper and iron. All the assays were completed at Intertek Testing Service Ltd (Shanghai) in accordance with international standard ISO17025. To maintain independent quality control on the laboratory, duplicate samples are submitted from 5% of sample sizes, replicate samples are submitted for 3% of samples, and the Company’s internal standards are submitted for 2-3% 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 (e.g., SGS-CSTC Standards Technical Sciences Co. Ltd in Tianjin).
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, Beiya and Habo, both in China. The Company is currently drilling for the NI43-101 resource at Beiya. Under the leadership of an experienced management team, the Company is taking exploration into the next phase of success.
This Press Release contains certain forward-looking statements. We have tried, whenever possible, to identify these forward-looking statements using words such as “anticipates”, “believes”, “estimates”, “expects”, “plans”, “intends”, “potential” and similar expressions. These statements reflect our current belief and are based upon currently available information. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the Corporation’s actual results, performance or achievements to differ materially from those expressed in or implied by such statements. We undertake no obligation to update or advise in the event of any change, addition or alteration to the information contained in this Press Release including such forward-looking statements, unless otherwise required under applicable law.
Neither the 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.
