The Guilin Gold Deposit Located 100 km SE of Guilin City in GuangXi Province Has an Inferred Resource of 465,616 oz of Gold With Average Grades of 0.3563 Ounces or 10.18 Grams Per Ton Contained in 1.29 Million Tonnes of Ore, According to Government Geologists and Recent Geological Survey Work
TORONTO, Jan. 12, 2011 (GLOBE NEWSWIRE) -- Aspire International, Inc. (Pink Sheets:APIT) announced today that it has entered into a letter of intent to acquire the Guilin Gold GuangXi Gold deposit located in the northern part of GuangXi Province in southern China, an inferred resource of 1.29 million tonnes, with additional potential to further expand the resource, up to an estimated 1 million ounces.
The Guilin Gold deposit is located in an area containing numerous gold mineralized zones, originally hosted by sandstone beds deposited in a shallow quiescent platformal marine environment of Cambrian age. Orogenesis during Silurian-Devonian time has strongly folded those sediments and produced a series of parallel regional and secondary shear zones into which gold, silver and base metals were remobilized and concentrated. Historical information shows that the concession covers 5 zones of gold mineralization with potential to increase the size of the resource substantially. A detailed mapping and drilling program is planned in a first and second stage pre-production exploration program as a follow up to the recent exploration program that yielded assay results from samples taken from the Guilin Gold concession ranging from 0.024 to 43.1 grams per tonne of gold.
The South China Craton and its associated orogenic belts contain the most important metallogenic provinces in China that include world-class industrial, base and precious metal deposits. Aspire (Guangxi) Inc., a subsidiary of Aspire International, has chosen to take advantage of this opportunity by acquiring a majority interest in a 3.95 sq kilometer concession known to contain a minimum of five zones of Au gold mineralization, of which two are in production and considered economically viable.
CEO Bok Wong commented, "This is the first of several planned acquisitions in the precious metals arena that we have been working on for some time that will complement our Manganese mine production, providing an additional source of revenue. We are delighted to be able to announce this letter of intent to acquire this interest on behalf of Aspire and expect to expand this resource in due course as we further develop its full mining potential, that we believe will contribute strongly to future growth."
About Aspire International, Inc.
Aspire International, Inc. (Pink Sheets:APIT) was registered in the state of Maryland. Aspire GuangXi Inc. is a subsidiary of Aspire and is a Wholly Owned Foreign Enterprise (WOFE) in China. The GuangXi Manganese mining property covers an area of 21.3 Square KM containing 7.4 million metric tons of ore according to a 43-101 report certified by a qualified Geologist with more than 30 years' experience. The company is led by a highly capable and experienced management team in GuangXi of China.
Aspire has also been granted a right of exploration by the Ministry of Industry, Mines and Energy (MIME) of Cambodia for conducting geological data collection in Phnum Ngout area, Salakrau district, Pailin province, Ratanakmondol and Samlot districts and also the Battambang province in the Kingdom of Cambodia.
More information can be obtained from the Company's web sites at http://www.apitinternational.com.
Cautionary Statement
This press release contains statements relating to future results of Aspire (including certain projections and business trends) that are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those that are projected as a result of various risks and uncertainties, including the possibility that discoveries and grades could be less than expected or tonnage and other estimates may or may not be all that's anticipated. These risks and uncertainties include, but are not limited to: the cyclical nature of the mining industry and the many markets addressed by the company's and its customers' production; demand for and market acceptance of new and any existing production; successful development, mining and production of many ores and minerals; the timing of new or additional production; changes in production and range of materials; production and mineral obsolescence; competition and availability of manufacturing capacity; fluctuations in mining and manufacturing yields; pricing pressures and other competitive factors; the ability to develop new and existing deposits and to obtain permits and licenses; the uncertainties of litigation; our ability to attract and retain qualified personnel; as well as other risks and uncertainties of mines and mining, including those detailed from time to time in Aspire's Securities and Exchange Commission filings. These forward-looking statements are made only as of the date hereof, and the company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.