Volume 9 Edition 2 2012 - The ASIA Miner

Company Profile
ONE ASIA
RESOURCES limited
One Asia Resources Limited is focused
on the exploration and development
of the Awak Mas and
Pani gold projects located on the Island
of Sulawesi, Indonesia. One
Asia is targeting to become a producer
by the end of 2014 with
combined annual production from
Awak Mas and Pani of 200,000
to 250,000 ounces of gold.
The Awak Mas project is a multimillion
ounce joint venture with
Vista Gold Corp. whereby One
Asia can earn 80% by completing
a Definitive Feasibility Study (DFS)
and Amdal (the equivalent to an
Environment Impact Statement).
The company expects to have this
completed by late 2012.
The Awak Mas project is located
in the Luwu Regency of
South Sulawesi and is accessible
from the Provincial city of Makassar
via a 367 km paved highway
to Palopo then a further 41 km on
paved and gravel roads to site.
The city of Makassar hosts an international
airport with daily flights
to Jakarta and Singapore.
The Awak Mas project is held
under a 7th generation Contract
of Work (CoW), which allows for
100% foreign ownership. The
project lies within a non-forested
area and sits within land for other
uses classification, which allows
for mining.
Awak Mas has a current JORC
resource of 2.13m ounces of Au,
of which 1.89m ounces Au is
measured and indicated. Over
100,000m of drilling has been
completed to date on the project.
The Company is currently completing
a DFS on the Awak Mas project
with a production profile of
4mt pa on the Awak Mas deposit.
The Awak Mas deposit has excellent
metallurgical characteristics,
testing indicates very high recovery
rates 90%+.
In addition, to the known deposit
several other prospective areas
have been identified. Current and
ongoing exploration work to date
has revealed 6 additional prospect
areas outside the Awak Mas deposit
area. The Salu Bulo prospect
has returned significant drill intercepts
including; 26m @2.87 g/t
Au, 24m @ 2.46 g/t Au, 72m
@1.95 g/t Au (incl. 30m @ 3.15
g/t Au), 20m @ 3.32 g/t Au,
12m @ 3.43 g/t Au and 30m @
2.95 g/t Au. Additional drilling results
received from November
2011 include the following; 39m
@ 1.85 g/t Au, 17m @ 2.8 g/t
Au, 24m @ 1.86 g/t Au and 30m
@ 1.44 g/t Au. Excellent upside
potential exists for additional gold
resources at increased grade from
the Salu Bulo prospect area alone.
Exploration work on this area is currently
ongoing.
One Asia is targeting to commence
commercial production
from the Awak Mas in 2014, at a
gold production rate of 150,000
to 175,000 ounces per annum.
One Asia’s other gold project,
the Pani Project in North Sulawesi,
has over 500,000 ounces of
oxide gold resource identified
from previous work. One Asia has
a 90% interest in a joint venture to
develop the Pani gold property.
The project is located in the North
arm of Sulawesi and is approx.10
km from the coast and is
accessible via paved road
and dirt road.
The Pani project currently
hosts an oxide resource of
530,000 ounces Au in a
450m x 200m drilled area,
this zone remains open at
depth and strike, excellent
upside potential exists to increase
this resource. One Asia is
undertaking a drilling program to
further define and increase the
known resource of the deposit.
Recently competed field work
has confirmed that the current deposit
continues at depth and strike.
Trenching results on the eastern
slope of the Pani ridge include
24m @1.62 g/t Au and 44m @
1.06 g/t Au. West Pani trenching
results include 22m @ 1.50 g/t
Au and 10m 2.26 g/t Au. South
Pani trenching results include
118m @0.98 g/t Au and 96m @
0.90 g/t Au. Exploration work
here is ongoing and the Company
expects some promising drilling results
later this year.
The mineralization is entirely
oxide and testing by BHP has indicated
that +95% recoveries are
possible using heap leach type
processes.
The company plans to develop
the Pani deposit as an open pit
heap leach operation and is targeting
to place the Pani project
into production in the next 2-3
years at a production rate of
50,000-75,000 ounces of gold
per annum.
One Asia is intending to undertaking
a program to develop
these projects into producing
gold mines within the next 2 to 3
years with an annual production
of 200,000 to 250,000 ounces
of gold per annum.