HONG KONG and BELLINGHAM, Wash., Jan. 3, 2012 (GLOBE NEWSWIRE) -- Asia Properties, Inc. (API) (OTCQB:ASPZ) announced today that the results from its recent King's Point geological work are excellent.
API's geological consulting firm, RDF, has reported positive results on its gold assays and from the geophysical tests from the recent (Nov-Dec) exploration program. RDF concluded that further detailed exploration work is warranted on this property.
The link below at the bottom of the pages shows the two IP/Resistivity pseudosections from the lines that were read over Rendall-Jackman deposit. The lines were 25 meters apart and read over the main zone of the deposit. The bottom profile indicates sulphides (Metals) which lit up "red color" and the top correlating blue zone is a low resistivity zone (conductor). The testing involves pulsing electricity into the ground and measuring the rate and strength of the returning pulses.
"The pseudosection results revealed a significant metal target which is indicated in red color," said CEO Daniel Mckinney, adding, "This tells us exactly where to drill in the next phase of exploration."
http://www.asiaprop.com/kings-point-gold/gold-potential/ (bottom chart)
"RDF Consulting conducted surface sampling of the historic Rendall-Jackman mine which produced great gold numbers from the gold assays. Of the 24 samples tested, 18 returned assays greater than 1 g/tn Au, with best sample showing 10.3 grams of gold per ton. All the samples also showed significant amounts of Silver, Copper and Zinc with the best sample indicating 6% copper," stated McKinney. "These results are extremely encouraging and mandate that we move forward with a drilling program to determine the reserves. Results from those drill cores will be used to write the NI 43-101 Report. The Rendall-Jackman mine was last in production when gold was trading at $40/oz. From these results we have confidence that we will locate a gold deposit that was previously not economic to extract when gold was at trading $40/oz."
Please see video clips of our geologist working the claims:
http://dl.dropbox.com/u/53876702/IP%20Survey_%20Beetle%20Pond.MOV
http://dl.dropbox.com/u/53876702/Rendell-Jackman.MOV
API plans to move quickly with its geological work on its King's Point claims throughout 2012 with a goal to bring its gold and base metal content into NI43-101 compliance. "We are creating significant value for our shareholders through this program," concluded Mckinney. "These results are an exciting reward for all our hard work in 2011. We are looking forward to a prosperous New Year and wish the same for all our shareholders."
ASPZ currently trades at just $0.05 per share with a market cap of only $1.92 million.
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
The Asia Properties, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=1733
RDF Consulting Ltd. is a Canadian geological and geophysical consulting firm that specializes in surveys, data processing and integrated interpretations to their clients in the mineral exploration industry for over 15 years. www.rdfconsulting.ca/
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.