Asia Minerals receives Copperstone assay results
Asia Minerals Corp AMP
Shares issued 27,815,129 Jan 11 close $0.105
Tue 12 Jan 99 News Release
Mr. David Owens reports
Asia Minerals has received final gold assays and new copper and metallic
gold screening assay data from a 15 hole drilling program completed in
November 1998 on the Copperstone property in La Paz County, Arizona. Each
hole was started by reverse circulation drilling and finished with HQ core
drilling through the target zone. A total of 6,775 feet of RC drilling and
2,947 feet of core drilling was completed in the 15 holes. The objective of
the drilling program was to confirm and extend the Northwest high-grade
zone. Asia Minerals estimated in August 1998 that this zone contained
474,000 ounces of gold within a resource of 892,000 tons at a cut grade of
0.53 of an ounce per ton.
The gold and copper assay results for holes A98-1 to A98-15 are summarized
in the table below which includes previously reported gold data and new
results from holes A98-9 and A98-10. All holes are vertical and downhole
lengths are approximately equal to true thickness.
Hole From To Length Au Cu
ft ft ft oz/t %
D Zone
A98-12 Fault zone
A98-3 623.7 637.0 13.3 4.90 2.24
A98-14 675.6 679.0 3.4 0.28 9.5
A98-1 550.5 554.0 3.5 0.03 1.0
A98-11 651.3 658.1 6.8 0.07 1.48
A98-2 592.8 613.0 20.2 0.45 0.84
A98-4 538.5 546.2 7.7 0.09 0.30
A98-15 656.3 666.6 10.3 0.17 0.80
A98-5 558.0 588.5 30.5 0.46 0.30
A98-13 578.5 589.1 10.6 0.75 0.19
A98-10 No significant mineralization
A98-9 427.0 430.5 3.5 0.23 na
C Zone
A98-8 No significant mineralization
A98-6 727.0 729.0 2.0 0.71
A98-7 Pilot hole No core
The primary assay laboratory for drill core and rock chip analysis was
Bondar Clegg, Vancouver, B.C. Duplicate sample analysis was conducted at
the American Assay Laboratories in Reno, Nevada. Metallic screen analysis
was performed by Bondar Clegg. A fire assay extraction protocol with an AA
finish was used for all gold analyses.
Project Update
The results of the 1998 drilling confirm that a flat-lying zone of
high-grade gold and associated copper-iron oxide mineralization extends to
the northwest of the old Cyprus Minerals open pit. This zone occurs within
a sequence of limestones, siltstones and quartzites in association with
chlorite and silica alteration. A sequence of faults intersect the zone of
mineralization, producing several distinct blocks of mineralization. A
number of these faults were mapped and can be observed within the open pit.
Underground access to the Northwest high-grade zone could be established
from a location in the open pit which is 450 feet below surface and less
than 500 feet laterally from the mineralization.
A total of 39 holes has now been drilled to test the Northwest high-grade
zone. The current strike extent of this zone is about 1,400 feet from
Section 144 to Section 160. No drilling has been carried out to the north
of Section 160 and there is excellent geological potential for a
continuation of the mineralization in this direction. Further drilling is
also required to fully test and define the downdip limit and fault offset
extensions of the mineralization between Sections 144 and 160.
Asia Minerals plans to proceed with the next stage of development at
Copperstone after the results of an underground mine prefeasibility study
are available in February 1999.
A registration statement filed with the U.S. Securities and Exchange
Commission became effective Dec. 13, 1998. This registration provides Asia
Minerals with the opportunity to conduct marketing programs and to broaden
its shareholder base in the United States.
A new company website developed by Stratford Internet Technologies is now
available at www.asia-minerals.com.
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