Asia Gold Updates Gold Exploration Programs at Tashlaka Hill and Vladimirovo, Bulgaria.VANCOUVER, British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography -- Asia Gold Corp. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:ASG ASG Assign ASG Allen Systems Group (Naples, FL) ASG Abu Sayyaf Group (terrorist group) ASG Associated Student Government ASG Area Support Group ASG Adaptive Services Grid ASG Assistant Secretary General ) is pleased to provide an update on the company's Tashlaka Hill and Vladimirovo gold exploration projects in Bulgaria. Asia Gold can earn up to an 80% interest in these projects pursuant to a joint venture agreement with Hereward Ventures Bulgaria (Hereward), a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Cambridge Mineral Resources Noun 1. mineral resources - natural resources in the form of minerals natural resource, natural resources - resources (actual and potential) supplied by nature plc (AIM:CMR CMR Crude mortality rate, see there ). (see News Release dated November 17, 2005). Tashlaka Hill Tashlaka Hill on the Rosino license is a low-sulphidation epithermal gold prospect in the Tertiary Rhodope Metallogenic Belt of southeast Bulgaria. The prospect was explored by Niproruda, a Bulgarian State mining company between about 1981 and 1992. Hereward explored the prospect from 2001 to 2005. Exploration drilling includes 86 holes by Niproruda and 42 holes by Hereward. The table below summarizes the historical open-pit geological resources compiled by Niproruda (86 drill holes) at a cutoff grade of 0.5 grams per tonne (g/t) gold.
Total
Contained
Au grade Gold
Company Date Category Tonnes (g/t) (ounces)
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Niproruda 1990 CIS Classification: 4,800,000 1.49 229,600
C1, C2 and P1
This mineral resource estimate was not calculated according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the standards of the Canadian Institute of Mining, Metallurgy and Petroleum The Canadian Institute of Mining, Metallurgy and Petroleum (CIM) is a technical society of professionals in the Canadian minerals, metals, materials and energy industries. It was founded in 1898. In 2006, the organization had 12,000 national members. (CIM (1) (Computer-Integrated Manufacturing) Integrating office/accounting functions with automated factory systems. Point of sale, billing, machine tool scheduling and supply ordering are part of CIM. ). The Niproruda estimate is based on the CIS Cis (sĭs), same as Kish (1.) (1) (CompuServe Information Service) See CompuServe. (2) (Card Information S classification system and the C1, C2 and P1 resource categories are approximately equivalent to a CIM inferred resource. Asia Gold intends to use the data from this resource estimate to assist the company in future exploration activity, but considers the reliability of this resource estimate to be low and will subject all data to further verification before relying on it. Barry W. Smee, Ph.D., P.Geo., an independent Qualified Person, audited the Tashlaka Hill assay database on behalf of Asia Gold and reports, "The analytical data from the Tashlaka Hill drilling can be used for preliminary resource estimates as the main analytical laboratory is using industry accepted analytical procedures Analytical Procedures is one of financial audit skill which help an auditor understand the client's business and changes in the business, to identify potential risk areas and to plan other audit procedures. and quality control methods. The present analytical data from the Tashlaka Hill drilling does not meet the requirements of NI 43-101 for resource estimation beyond a preliminary assessment." Tashlaka Hill is currently an exploration project and the relevance of the historical resource estimate is to confirm the presence of widespread epithermal gold mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. . A higher grade zone of gold mineralization, the Tashlaka Hill Main Zone, was outlined by the Hereward drilling program within the low grade gold envelope. The structural control and full extent of the higher grade mineralization are not well understood. A detailed structural evaluation and additional drilling is required to fully evaluate the potential of the higher-grade Main Zone. Tashlaka South The Tashlaka South gold prospect is located about 500 metres southwest of Tashlaka Hill. A 5-hole diamond drilling Diamond Drilling is a highly specialized industry used for mineral exploration around the world. Most commonly using wireline and core bits with diamond encrusted matrix. To drill holes to max depths of twelve thousand feet, for the recovery of core used in verifying mineral program totaling 1,038 metres was completed in August 2005. This program was designed to test a zone of silicification si·lic·i·fy v. si·lic·i·fied, si·lic·i·fy·ing, si·lic·i·fies v.tr. To convert into or impregnate with silica. v.intr. To become converted into or impregnated with silica. within Paleogene conglomerates measuring 20-50 metres in width and about 650 metres in strike-length. The textures associated with the silicification at surface suggest the zone is within the upper part of a low sulphidation epithermal gold system. Three of the five holes drilled in August intersected low grade gold mineralization (see Table below). However, all holes intersected the zone of silicification and the textural characteristics of the zone at depth, together with the high silver to gold ratio of the mineralization, suggest the potential for a higher grade gold horizon below the current level of drilling. Asia Gold plans to test this target with a new drilling program to start in March 2006. --------------------------------------------------------------- Drill Hole No. From To Length (m) g/t Au g/t Ag --------------------------------------------------------------- R238 97.0 99.0 2.0 1.05 14 --------------------------------------------------------------- R239a 223.6 232.6 9.0 1.29 40 --------------------------------------------------------------- R240 120.2 138.2 18.0 0.45 12 --------------------------------------------------------------- Vladimirovo The Vladimirovo gold prospect is situated on the Polski Gradets license in eastern Bulgaria. Gold mineralization associated with silicified si·lic·i·fy v. si·lic·i·fied, si·lic·i·fy·ing, si·lic·i·fies v.tr. To convert into or impregnate with silica. v.intr. To become converted into or impregnated with silica. Triassic meta-sediments was discovered at Vladimirovo by Hereward in 2003. Trenching and 7 reverse circulation drill holes by Hereward in 2004 outlined a zone of gold bearing carbonate rocks with a strike length of 1.6 kilometres and true widths of up to 18 metres. The best intersections in the 2004 drill holes are tabulated below:
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Drill Hole No. From To Length (m) g/t Au
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PG001 78.8 89.7 10.9 0.30
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91.2 94.6 3.4 1.28
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PG002 46.0 55.0 9.0 3.21
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72.0 84.0 12.0 2.24
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PG003 34.0 38.0 4.0 2.06
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PG004 79.0 81.0 2.0 1.55
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98.0 102.0 4.0 0.77
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PG007 74.0 82.0 8.0 4.11
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One diamond drill (PG008) hole totaling 150 metres was drilled in September 2005 to twin the reverse circulation hole PG002 drilled in 2004. Significant mineralized min·er·al·ize v. min·er·al·ized, min·er·al·iz·ing, min·er·al·iz·es v.tr. 1. To convert to a mineral substance; petrify. 2. To transform a metal into a mineral by oxidation. 3. intervals in hole PG008 are tabulated below.
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Drill Hole No. From To Length (m) g/t Au
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PG008 41.70 49.60 7.9 1.67
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63.60 64.60 1.0 1.13
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68.60 69.60 1.0 4.26
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81.60 82.60 1.0 1.20
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The gold bearing carbonate rocks are silicified and occur at the contact between a quartz-mica schist schist (shĭst), metamorphic rock having a foliated, or plated, structure called schistosity in which the component flaky minerals are visible to the naked eye. and an underlying marble. Silicification is typically massive, fine grained with local brecciation brec·ci·ate tr.v. brec·ci·at·ed, brec·ci·at·ing, brec·ci·ates To form (rock) into breccia. brec and re-silicification. The highest gold grades occur in areas of clay-filled brecciation and in clay-filled karst-like cavities indicating that secondary processes have locally enriched the gold grade. Asia Gold plans to further drill test the strike extension of the carbonate hosted gold mineralization following completion of the Tashlaka South drilling program. Sampling and Analytical Procedures Core samples from Tashlaka South and Vladimirovo were prepared and analyzed by Eurotest Control Plc. in Sofia, Bulgaria, an ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. 9001 certified laboratory. The samples were crushed to 90% passing 2mm and a 400g split was pulverized pul·ver·ize v. pul·ver·ized, pul·ver·iz·ing, pul·ver·iz·es v.tr. 1. To pound, crush, or grind to a powder or dust. 2. To demolish. v.intr. to 85% passing 75 microns. Gold less than 2.5 g/t was determined by AAS following an aqua regia digest, whereas gold more than 2.5 g/t was also assayed using normal fire assay procedures. The laboratory's internal QC meets industry accepted practice. David C. Owens, President, and Richard Gosse, Vice President Exploration, both qualified persons as defined by National Instrument 43-101, supervised the preparation of the technical information in this release. Ivanhoe Mines and BHP Billiton own approximately 47% and 7% respectively of the issued and outstanding shares of Asia Gold. Forward-Looking Statements: Statements in this release that are forward-looking statements, including the planned exploration of the company's mineral properties in Bulgaria, are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the company's periodic filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. has not reviewed and does not accept resp onsibility for the adequacy or accuracy or this release. |
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