HONG KONG and BELLINGHAM, Wash., Oct. 4, 2011 (GLOBE NEWSWIRE) -- Asia Properties, Inc. (API) (OTCQB:ASPZ) is pleased to announce that the exploration plans for both Canadian gold claims are moving forward as planned.
King's Point:
API has retained the services of RDF Consulting Ltd to oversee exploration activities on the Company's Canadian assets. As part of the ongoing program, API has received approval from the Province of Newfoundland Labrador for its proposed exploration plan. "RDF has laid out the gridlines, hired line-cutters and will be performing Induced Polarization/Resistivity and total field magnetometer ground geophysical surveys over a highly prospective portion of the claims. API will also perform a Phase 1 sampling program at the historic Rendall-Jackman Mine site," said API's CEO, Daniel Mckinney. The new data obtained from the upcoming work program along with the historical data already available for the property will be used to determine the scope of the next phase of exploration. "Our goal at King's Point is to re-evaluate the historic King's Point Mine and make a significant new discovery in the area. API's ultimate goal is to delineate NI 43-101 compliant resources on the property that will add significantly to our bottom line," stated Mckinney.
Banroy:
The Banroy claims are located along the prolific "Cadillac/Larder Lake Break" that combined have produced over 50 million ounces of gold. API has accessed historical reports from the Quebec Department of Natural Resources on the property which have indicated that further prospecting should be performed as the first phase of exploration. "We have hired an excellent prospector to collect samples from the area and the program is currently underway. Once the sampling is completed we will test the samples he finds and that data will be used to determine the scope of exploration to follow. We have the right 'address' being located along the Cadillac Break, now we are going to see what we actually have. I'm eager to see these results," said Mckinney.
In the meantime, the API team continues to vet other claims worldwide, including some very promising sites in the Philippines.
About Asia Properties, Inc.: is a Nevada corporation and trades on the OTCQB under the symbol "ASPZ." The transfer agent is Transfer Online, Inc. of Portland, Oregon. Please visit our website: www.asiaprop.com
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This press release contains forward-looking statements based on management's expectations and beliefs, and may involve known and unknown risks and uncertainties and other factors that may cause the actual results to be materially different from the results implied herein. Readers are cautioned not to place undue reliance on the forward-looking statements made in this press release.