Wednesday, 12th October 2005 (2808 views)

Asia Gold has struck gold on its Naran Bulag property in southern Mongolia.

The company has discovered visible gold in 13 quartz veins spanning an area of 2.5 kilometres.

After the initial sampling of 75 rock grab samples, 464 semi-continuous rock chip samples were collected and their data interpreted.

These initial fire assay results, from seven individual veins, show that the average gold grades range from 30 g/t to 165 g/t.

"The occurrence of very high-grade gold at surface within a large area and over significant lengths in multiple veins is very promising. Further work is now required to evaluate the size potential of the veins and the continuity of mineralization," commented David Owens, Asia Gold's president.

Naran Bulag has not previously been explored for gold and the company reports that Mongolian-Russian survey databases do not mention the presence of gold.

A trenching programme is due to commence and, if encouraging, this will be followed up with drilling.

 

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