Asiamet Resources Limited Asiamet Bkm Feasibility Drilling Highlights Excellent Continuity Of Shallow Copper Mineralization

 
TIDMARS 
 
 
   Asiamet Resources Limited ("ARS" or the "Company") is pleased to advise 
that Resource infill and extension drilling in progress as part of 
feasibility studies on the Beruang Kanan Main ("BKM") copper deposit in 
Central Kalimantan, Indonesia continues to demonstrate excellent 
continuity of shallow copper mineralization within the BK058 and BK044 
high grade zones. 
 
   A total 38 holes for 3800 meters of diamond core drilling have now been 
completed and two holes are currently in progress. The results from ten 
holes are reported below. Five holes were drilled in the southern part 
of the BKM deposit (BK058 Zone) and five holes in the northern area 
(BK044 Zone). A further 80 holes/7200 meters are planned. 
 
   As part of the feasibility study Resource quality control several holes 
are being drilled in different orientations and angles to test the 
robustness of the BKM Resource. This is particularly important for the 
upgrade of Resource confidence from Inferred to Indicated and Measured 
status. The first of these quality control holes, BKM32260-01 (124.3m 
End of hole 'EOH') drilled in the western area of the Resource envelope 
to confirm the orientation of mineralization intersected in earlier 
holes BKM32250-02 and BKM32250-03 (refer ARS Press Releases September 
29, 2015 and September 15, 2015) successfully intersected extensive 
mineralization in three separate intervals.   Better results include: 
 
 
 
 
BKM32260-01  20.4 meters at 1.75% Cu (from 1.6 meters) 
 
                 * Including 6.0 meters at 3.65% Cu (from 7.0 meters) 
 
             23.0 meters at 0.62% Cu (from 26.0 meters) 
 
             70.3 meters at 0.49% Cu (from 54.0 meters) 
 
                 * Including 8.0 meters at 1.02% Cu (from 54.0 meters) 
 
 
   Hole BKM31655-01 (100.1m EOH) was drilled as a scissor hole to 
BKM31750-03 (75m EOH) which intersected high grade copper mineralization 
(refer ARS Press Release June 11, 2015).  Assay results confirm high 
grade mineralization in the western part of the BK058 Zone and 
demonstrates excellent continuity along section.  Better results 
include: 
 
 
 
 
BKM31655-01  2.0 meters at 1.62% Cu (from 37.0 meters) 
 
             31.0 meters at 0.73% Cu (from 51.0 meters) 
 
                 * Including 17.0 meters at 1.11% Cu (from 54.0 meters) 
 
 
   Resource infill holes BKM31700-08 (66.3m EOH) and BKM31700-09 (70.5m 
EOH) were drilled west of the BK058 Zone and confirmed continuous 
shallow, moderate grade copper mineralization hosted in quartz stockwork 
and pyrite veins. Better results include: 
 
 
 
 
BKM31700-08  32.0 meters at 0.74% Cu (from 21.0 meters) 
 
                 * Including 4.0 meters at 1.89% Cu (from 22.0 meters) 
 
 
   Hole BKM31900-01 (33.3m EOH) drilled between the currently defined 
Resources on line 31900 was abandoned at 33.3m depth due to poor ground 
conditions, however high grade copper mineralization was intersected 
over the final few meters.  Drilling will be expanded in this area to 
further define the mineralization which lies outside the current 
resource envelope.  Better results include: 
 
 
 
 
BKM31900-01  5.3 meters at 1.27% Cu (from 28.0 meters) 
 
                 * Including 1.0 meters at 4.34% Cu (from 29.0 meters) 
 
 
   BKM32000-01 (70m EOH), the first hole on section line BKM32000, extended 
copper mineralization beyond the current Resource envelope.  Drilling 
intersected a broad zone of moderate grade copper mineralization 
including: 
 
 
 
 
BKM32000-01  38.0 meters at 0.55% Cu (from 18.0 meters) 
 
                 * Including 2.0 meters at 1.36% Cu (from 18.0 meters) 
 
                 * Including 6.0 meters at 1.03% Cu (from 48.0 meters) 
 
 
   Infill drill holes BKM32300-01 (151.9m EOH), BKM32700-01 (70.0m EOH) and 
BKM32700-02 (69.3m EOH) all intersected zones of low to moderate grade 
copper mineralization as anticipated. Better results included 8.0 meters 
at 0.77% Cu from 18.0 meters and 2.0 meters at 2.31% Cu from 41.0 meters 
in hole BKM32700-01. Results for hole BKM32700-02 (69.3m EOH), including 
11.0 meters at 0.56% Cu from 48.0 meters, highlight potential for at 
depth extensions of mineralization to the west of the current Resource 
envelope on line 32700. Further drilling is required to confirm these 
extensions. 
 
   Planned drilling on section lines BKM31700 and BKM31750 is now complete. 
Results demonstrate continuity of shallow moderate to high grade copper 
mineralization at BKM south over a width of up to 600 meters with 
mineralization remaining open to the east and west on both section 
lines. 
 
   ARS is optimistic that a significant upgrade of the BKM Mineral Resource 
to higher confidence levels will be realized through this drilling. 
More importantly, it is anticipated that these results will further 
reduce the already low strip ratio in the southern part of the BKM 
deposit. 
 
   A drill hole location plan and a table of full assay results are 
provided in Figure 1 and Table 1 respectively. 
 
   Tony Manini, Asiamet's Chief Executive Officer commented: 
 
   "ARS is very pleased with the results received to date for the Resource 
evaluation drilling being completed as part of the BKM feasibility 
study. We are seeing excellent continuity of copper grade and thickness 
within the existing Resource and extensions beyond the boundaries in 
some areas. While extensive study work remains to be completed, the 
consistently shallower nature of the mineralisation intersected to date 
is expected to translate to an even lower strip ratio, and potentially 
stronger economics, than outlined in the preliminary economic 
assessment. The feasibility study on BKM is progressing to plan and 
first results from the detailed heap leach test work are expected 
shortly. In addition to the current feasibility work streams (Resource 
drilling, heap leach testwork, geotechnical studies, and environmental 
studies) our mine engineering and infrastructure studies are now ramping 
up as expert consultants are engaged for each area of the study. We look 
forward to progressively updating all stakeholders as the study advances 
and our other corporate initiatives reach important milestones". 
 
   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 
 
   Tony Manini, Deputy Chairman and CEO 
 
   For further information, please contact: 
 
   -Ends- 
 
   Tony Manini 
 
   Deputy Chairman and CEO, Asiamet Resources Limited 
 
   Telephone: [phone] 
 
   Email: [e-mail] 
 
   FlowComms Limited 
 
   Sasha Sethi 
 
   Telephone: [phone] 
 
   Email: [e-mail] / [e-mail] 
 
   Asiamet Resources Nominated Adviser 
 
   RFC Ambrian Limited 
 
   Andrew Thomson / Oliver Morse 
 
   Telephone: [phone] 
 
   Email: [e-mail] / [e-mail] 
 
   VSA Capital Limited 
 
   Andrew Raca / Justin McKeegan 
 
   Telephone: [phone] 
 
   Email: [e-mail] 
 
   Optiva Securities Limited 
 
   Christian Dennis 
 
   Telephone: [phone] 
 
   Email: [e-mail] 
 
   Neither the TSX Venture Exchange nor its Regulation Services Provider 
(as that term is defined in the policies of the TSX Venture Exchange) 
accepts responsibility for the adequacy or accuracy of this release. 
 
   This news release contains forward-looking statements that are based on 
the Company's current expectations and estimates. Forward-looking 
statements are frequently characterized 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. 
 
 
 
 
                  Table 1: Recent drill intercepts. 
 
                                                     Cumulative Cu 
  HOLE ID     From    To    Length  Copper (%)    Mineralized Interval 
BKM31655-01     9.0   11.0     2.0        0.39             38.0 Meters 
BKM31655-01    37.0   39.0     2.0        1.62 
BKM31655-01    51.0   82.0    31.0        0.73 
 Including     54.0   71.0    17.0        1.11 
BKM31650-06    88.0   91.0     3.0        0.68 
BKM31700-08     0.8   15.0    14.3        0.46             46.3 Meters 
BKM31700-08    21.0   53.0    32.0        0.74 
 Including     22.0   26.0     4.0        1.89 
BKM31700-09    26.0   44.0    18.0        0.50             25.0 Meters 
BKM31700-09    49.0   53.0     4.0        0.60 
BKM31700-09    59.0   62.0     3.0        0.52 

BKM31900-01    28.0   33.3     5.3        1.27             5.30 Meters 
 Including     29.0   30.0     1.0        4.34 
BKM32000-01    18.0   56.0    38.0        0.55             38.0 Meters 
 Including     18.0   20.0     2.0        1.36 
 Including     48.0   54.0     6.0        1.03 
BKM32250-06    12.0   20.0     8.0        0.25             31.0 Meters 
BKM32250-06    26.0   40.0    14.0        0.33 
BKM32250-06    68.0   75.0     7.0        0.26 
BKM32250-06    87.0   89.0     2.0        0.43 
BKM32260-01     1.6   22.0    20.4        1.75            113.7 Meters 
 Including      7.0   13.0     6.0        3.65 
BKM32260-01    26.0   49.0    23.0        0.62 
BKM32260-01    54.0  124.3    70.3        0.49 
 Including     54.0   62.0     8.0        1.02 
BKM32300-01    15.0   21.0     6.0        0.34             23.0 Meters 
BKM32300-01    31.0   42.0    11.0        0.42 
BKM32300-01    51.0   53.0     2.0        0.39 
BKM32300-01   122.0  126.0     4.0        2.63 
BKM32700-01     5.0   43.0    38.0        0.51             38.0 Meters 
 Including     18.0   26.0     8.0        0.77 
 Including     41.0   43.0     2.0        2.31 
BKM32700-02    48.0   59.0    11.0        0.56             11.0 Meters 
         Notes: Grade intercepts are calculated as a weighted 
          average grade greater than or equal to 0.2% copper 
                               (uncut). 
          True widths are interpreted to be between 80-100% 
           of the reported lengths, unless otherwise stated. 
 
   To view the image for Figure 1, please click on the following link. 
 
   http://www.fscwire.com/sites/default/files/NR/792/13007_image1.jpg 
 
   Figure 1: Location map showing section lines and drill collars 
 
   This announcement is distributed by Nasdaq Corporate Solutions on behalf 
of Nasdaq Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Asiamet Resources Limited via Globenewswire 
 
 
  http://www.asiametresources.com 
 

(END) Dow Jones Newswires

September 15, 2016 02:01 ET (06:01 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.