Key points
. • Central Asia Resources acquires highly prospective tenement - Bizhe
. • 246km2 prospective for gold, silver, copper
. • In close proximity to infrastructure and the Company’s Dalabai prospect
. • Vendor accepts part payment in CVR shares at 20 cents each
Australian resources company Central Asia Resources Limited (“Central Asia” or “the Company” ASX:CVR) has signed a contract securing 90% of the Bizhe prospect in the Central Asian Republic of Kazakhstan.
The 246km2 Bizhe prospect is 250km north of Almaty, Kazakhstan’s largest city. The major Almaty-Taldy-Kurgan highway is in close proximity, as is the Company’s Dalabai gold prospect 50km to the South.
Central Asia’s Technical Director – Dr Waldemar Mueller said “The geological composition and mineralization style is quite similar to Dalabai, with quartz veining zones within volcanic formations. The area is prospective for gold and silver and potential copper porphyry style mineralisation. Near the licence’s eastern border is the world renowned Koksai copper porphyry deposit which is currently under development.
We have acquired historical exploration data, including geo-chemistry works for the entire prospect, and this data reveals a number of gold, silver, copper, lead and zinc anomalies. Only some of these anomalies have been further explored with trenches and drilling”.
The acquisition cost of $700,000 for 90% of the Bizhe prospect was previously agreed to be payable as $200,000 in cash and $500,000 in Central Asia shares. The vendor has now agreed to accept the Central Asia shares at 20 cents each. The transaction will be settled in January 2009.
Central Asia’s Managing Director, Jason Stirbinskis added “Bizhe brings our number of prospects in Kazakhstan to six and it is a long term strategic addition to the company’s portfolio. Our immediate focus is the nearby Dalabai deposit because of its potential as a low capex, early cashflow operation, and the highly prospective Altyntas gold deposit because of its potential size.
. • Central Asia Resources acquires highly prospective tenement - Bizhe
. • 246km2 prospective for gold, silver, copper
. • In close proximity to infrastructure and the Company’s Dalabai prospect
. • Vendor accepts part payment in CVR shares at 20 cents each
Australian resources company Central Asia Resources Limited (“Central Asia” or “the Company” ASX:CVR) has signed a contract securing 90% of the Bizhe prospect in the Central Asian Republic of Kazakhstan.
The 246km2 Bizhe prospect is 250km north of Almaty, Kazakhstan’s largest city. The major Almaty-Taldy-Kurgan highway is in close proximity, as is the Company’s Dalabai gold prospect 50km to the South.
Central Asia’s Technical Director – Dr Waldemar Mueller said “The geological composition and mineralization style is quite similar to Dalabai, with quartz veining zones within volcanic formations. The area is prospective for gold and silver and potential copper porphyry style mineralisation. Near the licence’s eastern border is the world renowned Koksai copper porphyry deposit which is currently under development.
We have acquired historical exploration data, including geo-chemistry works for the entire prospect, and this data reveals a number of gold, silver, copper, lead and zinc anomalies. Only some of these anomalies have been further explored with trenches and drilling”.
The acquisition cost of $700,000 for 90% of the Bizhe prospect was previously agreed to be payable as $200,000 in cash and $500,000 in Central Asia shares. The vendor has now agreed to accept the Central Asia shares at 20 cents each. The transaction will be settled in January 2009.
Central Asia’s Managing Director, Jason Stirbinskis added “Bizhe brings our number of prospects in Kazakhstan to six and it is a long term strategic addition to the company’s portfolio. Our immediate focus is the nearby Dalabai deposit because of its potential as a low capex, early cashflow operation, and the highly prospective Altyntas gold deposit because of its potential size.
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