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Asaplus Resources Ltd.

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Summary

Project:

Beikeng Mine

Deposit:Beiking Mine
Location:China
Commodities:Iron-Lead-Zinc-Tungsten
Date:7/12/2017
Report Code:JORC
Report Type:Resource Estimation
Project Stage:Pursuing Resource Increase/Upgrade
Report details:12-7-2017: Asaplus Resources Ltd. announces a Resource Estimation report for its Beiking Mine deposit at the Beikeng Mine project. Independent Geologists Mineral Reserve update for Beikeng Mine. Directors of Asaplus Resources Limited (the “Company”) are p
Resources:(Resource, Inf.): 1.058Mt @ 27.52% Fe, 1.53% Pb, 1.22% Zn, 0.58% WO3 at project
CP/QP:[Resources]: Peter Peebles (Darlington Geological Services Pty Ltd.)
ABSTRACT:Directors of Asaplus Resources Limited (the “Company”) are pleased to present herewith an independent geologist’s report on the Beikeng Mine owned by Hongji Mining Co., Limited, a subsidiary of the Company. This independent Geological and Report has been prepared by Darlington Geological Services Pty Ltd (“DGS”) (ABN 56 125 009 725) at the request of Asaplus Resources Limited (ARBN 158 717 492) (“Asaplus”) to provide an independent appraisal of the Beikeng Iron Mine(also referred to as the Datian Qian Ping Iron Mine) in Fujian Province, People’s Republic of China. This report has been prepared in accordance with the Australasian Code for Reporting on Exploration Results, Mineral Resources and Ore Reserves December 2012 edition ("JORC Code"), the Code and Guidelines for Assessment and Valuation of Mineral Assets and Mineral Securities for Independent Expert Reports (“Valmin Code”), and Regulatory Guides 111 and 112 relating to Independent Expert Reports by the Australian Securities and Investments Commission (“ASIC”) and relevant requirements of the Listing Rules of the Australian Securities Exchange (“ASX”). Datian County is the main mineral producing county of Fujian province. Mineral resources within Datian County are relatively rich, with abundant coal, iron ore and smaller copper, lead, zinc and manganese deposits as well as kaolin. By Australian standards, the size of the iron ore deposits are small and usually of a lower grade, but generally the ore is easily able to be beneficiated to an acceptable grade and the infrastructure is already established (population centres, roads, power, rail etc) with many steel mills and pig iron facilities being close by. There is a major steel mill in Sanming (see Figure 2) which is approximately 100 km by road from the project. This mill produces approximately 5.5 million tonnes of steel per year and is seeking additional suitable mill feed for it’s operations. Scattered around the project area are several much smaller “pig iron” facilities, which again are seeking suitable feed for their operations.

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