HONG KONG and BELLINGHAM, Wash., Aug. 15, 2011 (GLOBE NEWSWIRE) -- Asia Properties, Inc. (API) (OTCQB:ASPZ) today announced its intention to start work on its 16 claims in Quebec, Canada.
API acquired the 16 claims located in La Pause Township, Abitibi, on July 18th and received the claims transfer receipt from the Quebec Natural Resources Department on August 9, 2011.
The Company is currently working with experienced geological consultants to complete compilation of all available data on the property including nearby historic deposits, geological maps, mineralized zones, geophysical surveys, and drilling results.
The 16 claims are within Quebec's Abitibi mining camp which hosts a world-renowned number and high grade precious metal (Au-Ag) and poly-metallic (Cu-Zn-Au-Ag and Cu-Au) ore deposits. The geological setting of the Banroy property, which exists between Destor-Porcupine and Larder Lake-Cadillac faults, exhibits geological features similar to the Kerr Addison (10,457,000 oz of gold from 1938 to 1996) and Holloway (4.9 M metric tonnes grading 5.9 g/t Au) ore deposits in Ontario. The works conducted by Resources Cartier Inc. in nearby areas show a great potential for gold and base metal discoveries.
Please see: http://www.asiaprop.com/properties/banroy-gold/property-description-and-location/
Daniel McKinney, CEO of API, commented; "The next step will be several prospecting site visits by our consultant geologists to the claims over the next few months. Their goal is to understand exactly what we have in the mineralized zones on the property. Concurrently, we are conducting intensive due diligence and negotiations on a number of other very interesting gold mining properties."
About 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
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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.