New Asia Gold to Begin Development Program
Thursday, August 14th 2008
New Asia Gold Corp wishes to announce that it has begun preparations to begin a program that will define additional proven reserves. Previous exploration work on the property consists of 41 diamond drill holes (7863 metres) and 42 trenches that were excavated around the prospect. In the current 43101F Independent Assessment report only 16 of the drillholes and none of the trenches were used to define the existing proven reserves of 330,000 ozs of gold. These are the drill holes that were drilled in such close proximity to allow a proven reserve to be defined.
The results of the other 25 drill holes and the trenching throughout the property showed that there were significant additional gold reserves on the property. The new program of infill drilling will further define these reserves changing them from the probable category to the proven category. The Company believes that, with the significant drilling already completed with excellent gold intersections and other exploration work already completed, this new program to further develop the ore body will substantially increase the proven reserve at very little risk.
New Asia Gold Corp. trades in the United States on the NQB Pink Sheets under the symbol “NWAG”. For further information, please contact Nancy Goldman at (561) 962-4139 or at http://www.newasiagold.com.
