Vancouver A reconnaissance exploration program completed by newly minted Asia Gold (ASG-V) has uncovered a high sulphidation epithermal gold system on its wholly owned Western Gobi property in southern Mongolia.
The Yagaan prospect lies in a 4.9-by-1.1 km Landsat anomaly with the main target being marked by an elongated ridge of silicified volcanics. The upper part of the ridge comprises silica, alunite, kaolinite and sericite alteration with local hydrothermal brecciation.
The junior collected 98 rock grab from the prospect, with 11 of them returning greater than 1 grams gold per tonne over 300-by 150 metre area. The company obtained a high gold value of 21.4 grams. A 1.2 km arsenic geochemical anomaly is partially coincident with the high gold values. Mineralization occurs in a zone within the silicified volcanics containing up to 20% sheeted and stockwork quartz veins. The veins display banded, colloform and vuggy textures.
Located 300 km west of the provincial capital of Dalanzadgad, the Yagaan target is part of the 35,812 sq km Western Gobi property, which lies 400 km west of Ivanhoe Mines‘ (IVN-T) Oyu Tolgoi copper-gold porphyry deposit in the south Gobi region of Mongolia.
This year, the company aims to advance the project by completing detailed mapping, geochemical sampling, trenching and ground geophysics. Priority targets will then be drill tested.
Asia Gold completed its initial public offering just last month. Ivanhoe Mines owns 51.1% of Asia Gold’s 14.62 million issued and outstanding shares.
Be the first to comment on "Asia Gold eyes Yagaan (January 14, 2004)"