Another PP, and drilling this month.
fin-info.com
VANCOUVER, BRITISH COLUMBIA--Asia Minerals Corp. ("Asia") is
pleased to report that the $500,000 brokered financing announced
on 11 January 2000 has now been amended and increased to a
$650,000 non-brokered private placement financing by way of the
issuance of 3,250,000 units at $0.20 per unit. Each unit consists
of one Class "A" Common Voting share and one warrant to purchase
an additional Class "A" Common Voting share at $0.25 per share for
a one year period. A finders fee is payable. The private placement
is subject to the approval of the regulatory authorities having
jurisdiction over the affairs of Asia.
The proceeds of the financing will be used to continue the
exploration of the Copperstone Gold project in Arizona and for
general working capital. Asia plans to start a new drill program
at Copperstone in early February. The primary objective of the
drilling is to test the open north strike and down dip extensions
of the C and D zones of high grade gold mineralization within the
Copperstone Fault. The geological resource in the C and D zones
has been estimated by MRDI at 2,085,900 tons at a capped grade of
0.34 opt gold, containing 708,900 ounces of gold. An underground
mine scoping study by MRDI in 1999 was based on a diluted mining
resource in the C and D zones of 827,400 tons at a grade of 0.55
opt gold, containing 459,500 ounces of gold.
The drilling program will also test other high grade gold targets
identified by previous drilling in both the hanging-wall and
foot-wall of the Copperstone Fault.
Dated at Vancouver, British Columbia the 21st day of January 2000. |
