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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Asiamet Resources Limited | LSE:ARS | London | Ordinary Share | BM04521V1038 | COM SHS USD0.01 (DI) |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.025 | 3.70% | 0.70 | 0.65 | 0.75 | 0.70 | 0.675 | 0.675 | 2,031,567 | 10:46:40 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Miscellaneous Metal Ores,nec | 0 | -6.93M | -0.0027 | -2.59 | 18.16M |
Dow Jones received a payment from EQS/DGAP to publish this press release.
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Asiamet Resources Ltd. (ARS)
Asiamet Intersects High Grade Copper Below BKZ Polymetallic Deposit
01-Nov-2017 / 12:30 GMT/BST
Dissemination of a Regulatory Announcement that contains inside information
according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
For Immediate Release London AIM
1 November 2017 Symbol: ARS
Asiamet Intersects High Grade Copper Below BKZ Polymetallic Zn-Pb-Cu-Ag-Au
Deposit
Asiamet Resources Limited ("ARS" or the "Company") is pleased to report that
ongoing exploration drilling at the BKZ Polymetallic ("BKZ") prospect
located on its Kalimantan Surya Kencana ("KSK") 6th Generation Contract of
Work ("CoW"), in Central Kalimantan, Indonesia continues to intersect thick,
near surface high-grade base and precious metal-rich mineralisation.
Highlights to date include:
? Visible massive sulphide or vein style mineralisation has been
intersected in thirteen of the fourteen holes drilled to date over an area
of 225m x 100m. The deposit remains open in multiple directions.
? BKZ continues to impress, with strong polymetallic mineralisation
occurring in an easterly dipping, N-S trending mineralised domain ranging
from 8m to 39m in true thickness.
? High-grade copper mineralisation has recently been intersected
immediately beneath the high-grade polymetallic Zn-Pb-Cu-Ag-Au
mineralisation.
Highlights of the latest batch of drill results received include:
BKZ33750-02 26.3m at 6.3% zinc, 2.2% lead, 33.6g/t silver and 0.33g/t gold
(from 1.7m)
Including 7.0m at 10.8% zinc, 4.7% lead, 56.1g/t silver, 0.45g/t gold (from
3m)
Including 5.0m at 10.3% zinc, 2.8% lead, 36.6g/t Silver, 0.37g/t gold (from
20m)
BKZ33650-02 7.0m at 3.6% zinc, 0.94% lead and 22.5g/t silver (from 41.0m)
8.4m at 1.3% copper (from 108.0m)
Including 3.0m at 2.7% copper (from 110.0m)
BKZ33700-04 14.0m at 2.7% zinc, 1.2% lead and 54.6g/t silver (from 54.0m)
The initial BKZ scout drilling programme is complete, comprising a total of
14 holes for 1,354 metres of diamond core drilling. The drill rig is now
being moved to the Beruang Kanan West ("BKW") prospect to test multiple
copper mineralised sheeted vein zones with associated wide spread alteration
similar to BKM occurring over a 2.5 square kilometre area. Three well
defined copper in soil anomalies occur coincident with these sheeted vein
zones, the largest measuring 1.7km x 1km (refer ARS Press Release February
23, 2017).
Peter Bird, Asiamet's Chief Executive Officer commented:
"Results from the initial scout drilling programme completed at the BKZ
polymetallic prospect have been extremely pleasing and have gone a long way
towards both advancing the potential for another high-value standalone
project in the immediate vicinity of our BFS stage BKM copper project, but
also enhancing our belief that Asiamet's KSK Contract of Work has
substantial exploration upside potential above and beyond the currently
defined BKM copper Resource.
Following on from the success of our initial step-out exploration we are now
moving to commence scout drilling at the Beruang Kanan West ("BKW") prospect
which, although returning historical high-grade copper in rock and soil
samples, has never been drilled to date. We are excited by the potential of
the BKW area and looking forward to drill testing another of the multiple
highly prospective exploration targets identified within the wider KSK
District."
Drilling Summary
The second hole on section line BKZ33750 was drilled south-southeast to
confirm continuity of mineralisation between section lines BKM33750 and
BKM323700. BKZ33750-02 (89.9m End of Hole "EOH") intersected a broad zone of
polymetallic mineralisation from 1.7m depth hosted in quartz-sulphide veins
to massive sphalerite (zinc), galena (lead), chalcopyrite (copper) and
pyrite (Figure 2). A third hole, BKZ33750-03 (87.5m EOH) was collared and
completed 40m east of BKM33750-02, which intersected visible massive
sulphide mineralisation at approximately 20m depth. Assays are expected in
early November (Figure 3).
The second hole on section line BKZ33650 was drilled to confirm continuity
of mineralisation in BKM33650-01 (113m EOH), which intersected 30.0m at 8.9%
Zinc, 2.2% Lead, 46g/t Silver and 0.37g/t Gold from 43 metres (refer ARS
Press Release October 11, 2017). BKZ33650-02 (117.4m EOH) is a vertical hole
that intersected multiple zones of moderate grade polymetallic
mineralisation from 41.0m depth comprising quartz-sulphide veins with
sphalerite (zinc), galena (lead), chalcopyrite (copper) and pyrite. Strong
copper mineralisation occurs at the end of the hole (Figure 4), indicating
potential for high grade copper mineralisation below the BKZ polymetallic
mineralised domain. Unfortunately, the hole had to be terminated due the
capacity of the scout drill rig.
The fourth hole on section line BKZ33700 was drilled to confirm continuity
of mineralisation in BKM33700-02 (113.9m EOH), which intersected 39m at 7.3%
zinc, 2.3% lead, 33g/t silver and 0.33g/t gold (from 41 metres) (refer ARS
Press Release October 3, 2017). BKZ33700-04 (122.0m EOH) is a vertical hole
that intersected a zone of moderate grade polymetallic mineralisation from
54.0m depth comprising quartz-sulphide veins with sphalerite (zinc), galena
(lead), chalcopyrite (copper) and pyrite. While this hole appears to mark
the eastern boundary of the BKZ deposit, further drilling is required to
close off the mineralisation in this area.
The Company's AIDT 600 rig has a drilling capacity of 600m depth which is
significantly more powerful than the Jackro rig currently being used at BKZ.
With a stronger rig capacity, the Company will be able to test the down-dip
extension of the BKZ polymetallic mineralisation and the strike and depth
extensions of the newly discovered high-grade copper mineralisation
intersected below the BKZ polymetallic mineralisation. The Company is
planning to mobilise the larger rig in early 2018.
A drill hole location plan and a table of full assay results are provided in
Figure 1 and Table 1 respectively.
Qualified Person
Data disclosed in this press release have been reviewed and verified by
ARS's qualified person, Stephen Hughes, P. Geo, Vice President Exploration
of the Company and a Qualified Person within the meaning of NI 43-101 and
for the purposes of the AIM Rules.
ON BEHALF OF THE BOARD OF DIRECTORS
Peter Bird, Deputy Chairman and CEO
For further information, please contact:
-Ends-
Peter Bird
Deputy Chairman and CEO, Asiamet Resources Limited
Telephone: +61 3 8644 1300
Email: peter.bird@asiametresources.com
Tony Manini
Executive Chairman, Asiamet Resources Limited
Telephone: +61 3 8644 1300
Email: tony.manini@asiametresources.com
FlowComms Limited
Sasha Sethi
Telephone: +44 (0) 7891 677 441
Email: Sasha@flowcomms.com
Asiamet Resources Nominated Adviser
RFC Ambrian Limited
Andrew Thomson / Stephen Allen
Telephone: +61 8 9480 2500
Email: Andrew.Thomson@rfcambrian.com / Stephen.Allen@rfcambrian.com [1]
Optiva Securities Limited
Christian Dennis
Telephone: +44 20 3137 1903
Email: Christian.Dennis@optivasecurities.com
This news release contains forward-looking statements that are based on the
Company's current expectations and estimates. Forward-looking statements are
frequently characterised by words such as "plan", "expect", "project",
"intend", "believe", "anticipate", "estimate", "suggest", "indicate" and
other similar words or statements that certain events or conditions "may" or
"will" occur. Such forward-looking statements involve known and unknown
risks, uncertainties and other factors that could cause actual events or
results to differ materially from estimated or anticipated events or results
implied or expressed in such forward-looking statements. Such factors
include, among others: the actual results of current exploration activities;
conclusions of economic evaluations; changes in project parameters as plans
continue to be refined; possible variations in ore grade or recovery rates;
accidents, labour disputes and other risks of the mining industry; delays in
obtaining governmental approvals or financing; and fluctuations in metal
prices. There may be other factors that cause actions, events or results not
to be as anticipated, estimated or intended. Any forward-looking statement
speaks only as of the date on which it is made and, except as may be
required by applicable securities laws, the Company disclaims any intent or
obligation to update any forward-looking statement, whether as a result of
new information, future events or results or otherwise. Forward-looking
statements are not guarantees of future performance and accordingly undue
reliance should not be put on such statements due to the inherent
uncertainty therein.
This announcement contains inside information as stipulated under the Market
Abuse Regulations (EU) no. 596/2014 ("MAR").
Table 1: Recent drill intercepts.
HOLE ID From To Length Zinc Lead Silver Gold Copper
(%) (%) (g/t) (g/t) (%)
BKZ33750-02 1.70 28.00 26.30 6.34 2.25 33.6 0.33 NSA
Including 3.00 10.00 7.00 10.82 4.72 56.1 0.45 NSA
Including 20.00 25.00 5.00 10.35 2.83 36.6 0.37 NSA
BKZ33750-02 41.00 43.00 2.00 2.00 NSA 7.5 0.29 0.64
BKZ33750-02 54.00 60.00 6.00 1.57 NSA 3.0 NSA NSA
BKZ33750-02 69.00 71.00 2.00 1.43 NSA NSA 0.13 NSA
BKZ33650-02 41.00 48.00 7.00 3.60 0.94 22.5 NSA NSA
BKZ33650-02 54.00 63.00 9.00 1.03 0.21 16.1 NSA NSA
BKZ33650-02 72.00 74.00 2.00 2.43 NSA 6.7 0.15 0.18
BKZ33650-02 78.00 80.00 2.00 1.92 NSA 28.6 NSA 1.94
BKZ33650-02 108.00 116.40 8.40 NSA NSA 5.6 0.11 1.29
Including 110.00 113.00 3.00 NSA NSA 8.0 0.13 2.67
Including 115.40 116.40 1.00 NSA 1.49 12.20 0.34 1.85
BKZ33700-04 54.00 68.00 14.00 2.70 1.23 54.6 0.12 0.12
BKZ33700-04 73.00 76.00 3.00 3.94 1.26 25.7 0.20 0.11
BKZ33700-04 103.00 104.00 1.00 2.56 NSA 4.7 0.27 NSA
Notes: Grade intercepts are calculated as a weighted average grade >=1.0%
Zinc (uncut). True widths are interpreted to be between 80-100% of the
reported lengths, unless otherwise stated. Orientation of the mineralised
domain is estimated to have an azimuth of 340 degrees and a dip of -25
degrees to the northeast.
Figure 1: Location map showing strong zinc in soil geochemistry over the BK
district with prospects & drill collars. To view the graphic, please open
the link here http://www.asiametresources.com/i/maps/2017-11-01_NR-Fig1.jpg
[2]
Figure 2: Semi-massive Sphalerite (Zn sulphide) and Galena (Pb sulphide)
mineralisation in BKZ33750-02. The weighted average grade for the interval 4
- 6m (2m interval) is 17.1% Zn, 8.7% Pb and 83g/t Ag. To view the graphic,
please open the link here
http://www.asiametresources.com/i/maps/2017-11-01_NR-Fig2.jpg [3]
Figure 3: Massive sulphides with strong galena mineralisation in
BKZ33750-03, assays pending. To view the graphic, please open the link here
http://www.asiametresources.com/i/maps/2017-11-01_NR-Fig3.jpg [4]
Figure 4: Semi-massive sulphides with strong chalcopyrite mineralisation in
BKZ33650-02. The interval 112 - 113m (1-metre) assayed 3.1% copper. To view
the graphic, please open the link here
http://www.asiametresources.com/i/maps/2017-11-01_NR-Fig4.jpg [5]
Glossary of Technical Terms
"anomaly or anomalous" something in mineral
exploration that geologists
interpret as deviating from
what is standard, normal, or
expected.
"assay" The laboratory test conducted
to determine the proportion of
a mineral within a rock or
other material. For copper,
usually reported as percentage
which is equivalent to
percentage of the mineral
(i.e. copper) per tonne of
rock.
"azimuth" the "compass direction" refers
to a geographic bearing or
azimuth as measured by a
magnetic compass, in true or
magnetic north.
"bornite" Bornite, also known as peacock
ore, is a copper sulphide
mineral with the formula
Cu5FeS4.
"breccia" Breccia is a rock
classification, comprises
millimetre to metre-scale rock
fragments cemented together in
a matrix, there are many
sub-classifications of
breccias.
"chalcocite" Chalcocite is a copper
sulphide mineral with the
formula Cu2S, and is an
important copper ore mineral.
It is opaque and dark-gray to
black with a metallic luster.
"chalcopyrite" Chalcopyrite is a copper
sulphide mineral with formula
CuFeS2. It has a brassy to
golden yellow colour.
"channel sample" Samples collected across a
mineralised rock exposure. The
channel is typically
orientated such that samples
are collected perpendicular to
the mineralised structure, if
possible.
"chargeability" Chargeability is a physical
property related to
conductivity. Chargeability is
used to characterise the
formation and strength of the
induced polarisation within a
rock, under the influence of
an electric field, suggesting
sulphide mineralisation at
depth.
"CIM" The reporting standard adopted
for the reporting of the
Mineral Resources is that
defined by the terms and
definitions given in the
terminology, definitions and
guidelines given in the
Canadian Institute of Mining,
Metallurgy and Petroleum (CIM)
Standards on Mineral resources
and Mineral Reserves (December
2005) as required by NI
43-101. The CIM Code is an
internationally recognised
reporting code as defined by
the Combined Reserves
International Reporting
Standards Committee.
"covellite" Covellite is a copper sulphide
mineral with the formula CuS.
This indigo blue mineral is
ubiquitous in some copper
ores.
"diamond drilling" A drilling method in which
penetration is achieved
through abrasive cutting by
rotation of a diamond
encrusted drill bit. This
drilling method enables
collection of tubes of intact
rock (core) and when
successful gives the best
possible quality samples for
description, sampling and
analysis of an ore body or
mineralised structure.
"dip" A line directed down the
steepest axis of a planar
structure including a planar
ore body or zone of
mineralisation. The dip has a
measurable direction and
inclination from horizontal.
"g/t" grams per tonne; equivalent to
parts per million ('ppm').
"galena" Galena is the natural mineral
form of lead (II) sulphide,
with formula PbS. It is the
most important ore of lead and
an important source of silver.
It has a silver colour.
"grab sample" are samples of rock material
collected from a small area,
often just a few pieces or
even a single piece of rock
"grabbed" from a face, dump or
outcrop or roughly 2-5kg.
These are common types of rock
samples collected when
conducting mineral
exploration. The sample
usually consists of material
that is taken to be
representative of a specific
type of rock or
mineralisation.
"grade" The proportion of a mineral
within a rock or other
material. For copper
mineralisation this is usually
reported as % of copper per
tonne of rock (g/t).
"hypogene" Hypogene ore processes occur
deep below the earth's
surface, and form deposits of
primary minerals, such as
chalcopyrite and bornite.
"Indicated Resource" An "Indicated Mineral
Resource" is that part of a
Mineral Resource for which
quantity, grade or quality,
densities, shape and physical
characteristics, can be
estimated with a level of
confidence sufficient to allow
the appropriate application of
technical and economic
parameters, to support mine
planning and evaluation of the
economic viability of the
deposit. The estimate is based
on detailed and reliable
exploration and testing
information gathered through
appropriate techniques from
locations such as outcrops,
trenches, pits, workings and
drill holes that are spaced
closely enough for geological
and grade continuity to be
reasonably assumed.
"Induced Polarisation Geophysics" Induced polarisation (IP) is a
geophysical survey used to
identify the electrical
chargeability of subsurface
materials, such as sulphides.
The survey involves an
electric current that is
transmitted into the
subsurface through two
electrodes, and voltage is
monitored through two other
electrodes.
"Inferred Resource" An "Inferred Mineral Resource"
is that part of a Mineral
Resource for which quantity
and grade or quality can be
estimated on the basis of
geological evidence and
limited sampling and
reasonably assumed, but not
verified, geological and grade
continuity. The estimate is
based on limited information
and sampling gathered through
appropriate techniques from
locations such as outcrops,
trenches, pits, workings and
drill holes.
"Intercept" Refers to a sample or sequence
of samples taken across the
entire width or an ore body or
mineralised zone. The
intercept is described by the
entire thickness and the
average grade of
mineralisation.
"lbs" Pounds (measure of weight)
"massive" In a geological sense, refers
to a zone of mineralisation
that is dominated by sulphide
minerals. The
sulphide-mineral-rich material
can occur in centimetre-scale,
meter-scale or in tens of
meters wide veins, lenses or
sheet-like bodies containing
sphalerite, galena, and / or
chalcopyrite etc.
"Measured Resource" A "Measured Mineral Resource"
is that part of a Mineral
Resource for which quantity,
grade or quality, densities,
shape, and physical
characteristics are so well
established that they can be
estimated with confidence
sufficient to allow the
appropriate application of
technical and economic
parameters, to support
production planning and
evaluation of the economic
viability of the deposit. The
estimate is based on detailed
and reliable exploration,
sampling and testing
information gathered through
appropriate techniques from
locations such as outcrops,
trenches, pits, workings and
drill holes that are spaced
closely enough to confirm both
geological and grade
continuity.
"Mineral Resource" A "Mineral Resource" is a
concentration or occurrence of
diamonds, natural solid
inorganic material, or natural
solid fossilised organic
material including base and
precious metals, coal, and
industrial minerals in or on
the Earth's crust in such form
and quantity and of such a
grade or quality that it has
reasonable prospects for
economic extraction. The
location, quantity, grade,
geological characteristics and
continuity of a Mineral
Resource are known, estimated
or interpreted from specific
geological evidence and
knowledge.
"Mineralisation" In geology, mineralisation is
the deposition of economically
important metals (copper,
gold, lead, zin etc) that in
some cases can be in
sufficient quantity to form
mineral ore bodies.
"mlbs" Million pounds (measure of
weight)
"open pit mining" A method of extracting
minerals from the earth by
excavating downwards from the
surface such that the ore is
extracted in the open air (as
opposed to underground
mining).
"outcrop" A section of a rock formation
or mineral vein that appears
at the surface of the earth.
Geologists take direct
observations and samples from
outcrops, used in geologic
analysis and creating geologic
maps. In situ (in place)
measurements are critical for
proper analysis of the geology
and mineralisation of the area
under investigation.
"polymetallic" Three or more metals that may
occur in magmatic,
volcanogenic, or hydrothermal
environments; common base and
precious metals include
copper, lead, zinc, silver and
gold.
"polymict" A geology term, often applied
to breccias or conglomerates,
which identifies the
composition as consisting of
fragments of several different
rock types.
"Preliminary Economic Assessment" NI 43-101 defines a PEA as "a
study, other than a
pre-feasibility study or
feasibility study, which
includes an economic analysis
of the potential viability of
mineral resources".
"sediments" Sedimentary rocks formed by
the accumulation of sediments.
There are three types,
Clastic, Chemical and Organic
sedimentary rocks.
"sequential assays" Sequential copper analysis is
a technique to
semi-quantitatively define the
zonations associated with some
copper deposits. The method is
based on the partial
dissolution behaviour
displayed by the prevalent
copper minerals to solutions
containing sulphuric acid and
sodium cyanide. Results from
sequential analyses can
theoretically determine the
amounts of leachable oxide
minerals, leachable secondary
sulphide minerals, and primary
copper minerals, respectively.
"sphalerite" Sphalerite is a zinc sulphide
in crystalline form but almost
always contains variable iron,
with formula (Zn,Fe)S. It can
have a yellowish to honey
brown or black colour.
"supergene" Supergene ore processes occur
near surface, and form
deposits of secondary
minerals, such as malachite,
azurite, chalcocite,
covellite, digenite, etc.
"surface rock chip samples" Rock chip samples
approximately 2kg in size that
are typically collected from
surface outcrops exposed along
rivers and mountain
ridgelines.
"veins" A vein is a sheet-like or
anastomosing fracture that has
been infilled with mineral ore
(chalcopyrite, covellite etc)
or mineral gangue (quartz,
calcite etc) material, within
a rock. Veins form when
minerals carried by an aqueous
solution within the rock mass
are deposited through
precipitation and infill or
coat the fracture faces.
"volcanics" Volcanic rock such as andesite
or basalt that is formed from
magma erupted from a volcano,
or hot clastic material that
erupts from a volcano and is
deposited as volcaniclastic or
pyroclastics.
ISIN: BM04521V1038
Category Code: DRL
TIDM: ARS
LEI Code: 213800PWJMT1NG28TA88
Sequence No.: 4799
End of Announcement EQS News Service
624143 01-Nov-2017
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(END) Dow Jones Newswires
November 01, 2017 08:33 ET (12:33 GMT)
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