Asiamet Resources Limited Asiamet Discovers High Grade Copper Mineralisation At Bkw Prospect

 
TIDMARS 
 
 
   VANCOUVER, British Columbia, July 19, 2017 -- Systematic mapping and 
rock chip sampling was recently completed by Asiamet Resources Limited 
("Asiamet" or the "Company") in the northern part of the Beruang Kanan 
West ("BKW") prospect in Central Kalimantan, Indonesia.  BKW is located 
approximately 1km west of Asiamet's core Beruang Kanan Main ("BKM") 
Copper Project where bankable feasibility studies are well advanced. 
Results received to date at BKW confirm a copper in soil anomaly in the 
northern part of BKW is associated with a zone of 
quartz-chalcocite-bornite veins hosted in a polymict breccia (Figure 1 
http://ww4.fscwire.com/sites/default/files/NR/792/17752_ARSING1.png ). 
Highlights from this recent work include: 
 
 
   -- A rock grab sample collected from a 30-cm wide quartz -sulphide vein 
      cutting sericite altered breccia assayed 26.1% Copper and 57.1g/t Silver 
 
   -- Approximately 200m west is a sericite altered breccia cut by 
      quartz-bornite-chalcocite-pyrite veins, with individual rock chip grab 
      samples assaying up to 4.1% Copper. 
 
 
   Discovery of these copper sulphide bearing outcrops within a zone of 
mineralised quartz veins covers 600m x 150m in the northern part of BKW 
and overlaps with a small portion of the broad copper in soil anomaly 
delineated at BKW.  There were 147 rock chip grab samples collected and 
a summary of the significant assays from this program are detailed in 
Table 1.  The true width and thickness of the high-grade copper 
mineralisation has not yet been determined and follow up mapping and 
sampling will be undertaken.  The location and style of the BKW 
mineralisation is similar to that identified at BKM and represents a 
priority target for drill testing.  The mapping area is shown on the 
project location map in Figure 2 
http://ww4.fscwire.com/sites/default/files/NR/792/17752_ARSING2.png . 
 
   Asiamet geologists will soon commence mapping and sampling the largest 
and strongest copper in soil anomaly at BKW measuring 1.7km x 1km, with 
the goal of defining near surface copper mineralisation for immediate 
drill testing. 
 
   Peter Bird, Asiamet's Chief Executive Officer Commented 
 
   "Over the past three years the team at Asiamet have rapidly advanced a 
new copper discovery at BKM from early exploration through to 
feasibility stage.  Looking forward we are now focused on completing the 
feasibility study with the objective of then moving this asset through 
to the development phase. 
 
   "As previously highlighted, the BKM discovery is not an isolated 
occurrence but rather the first prospect with defined Resources within a 
large, approximately 15sqkm area, of anomalous copper mineralisation in 
rocks and soils.  These recent results from the northern part of BKW 
coupled with the fact that the mineralisation is similar in style to BKM 
highlights the significant potential for the discovery of additional 
copper mineralisation that exists in the greater BK area. 
 
   "This area and any others generated from ongoing mapping and sampling at 
BKW and Beruang Kanan South ('BKS') represent high priority drill 
targets for testing over the coming months.  Any targets with potential 
to add mine life and enhance the already attractive economics (outlined 
in the PEA) of BKM will be rapidly advanced in order to achieve initial 
Resource status.  We look forward to reporting the results of this 
exciting exploration work over the coming months" 
 
 
 
 
 
Table 1: Rock chip grab sample results from northern 
 BKW surface sampling program 
 
            Interval     Rock    Sample     Cu       Ag 
Location     Sample      Type      No      (ppm)    (ppm)   Pb (ppm)  Zn (ppm) 
 BKM-NW       Grab     Outcrop    111107       20     0.60       797      2670 
 BKM-NW       Grab     Outcrop    111108       66     <0.5        31      4250 
 BKM-NW       Grab     Outcrop    111112       90     1.00       237      1450 
 BKM-NW       Grab     Outcrop    111123       32     9.40      3260       327 
 BKM-NW       Grab     Outcrop    111127      702     0.70      1580       863 
 BKM-NW       Grab     Outcrop    111149     8160    10.80        30      6070 
   BKW        Grab     Outcrop    111165      214     <0.5       386      1550 
   BKW        Grab     Outcrop    111169      193     1.10       156      1860 
   BKW        Grab     Outcrop    111175       70     0.70       394      1110 
   BKW        Grab     Outcrop    111177       48     0.70       344      5890 
   BKW        Grab     Outcrop    111181     2150     5.10       194      1120 
   BKW        Grab     Outcrop    111184     2140     2.20       174        58 
   BKW        Grab     Outcrop    111194     1390     <0.5       260       795 
   BKW        Grab     Outcrop    111224       63     <0.5      1440      3210 
   BKW        Grab     Outcrop    111231    40700    17.30        55       181 
   BKW        Grab     Outcrop    111232    13700     6.70       129        77 
   BKW        Grab     Outcrop    111233     1480     1.50        46        67 
   BKW        Grab     Outcrop    111238   261000    56.60        88      2220 
   BKW        Grab     Outcrop    111239    23800     7.00        41       191 
   BKW        Grab     Outcrop    111240       78     <0.5       178      1310 
   BKW        Grab     Outcrop    111246      276     <0.5       746      1440 
   BKW        Grab     Outcrop    111268      143     1.20      1690       674 
 
 
   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: [phone] 
 
   Email: [e-mail] 
 
   Tony Manini 
 
   Executive Chairman, Asiamet Resources Limited 
 
   Telephone: [phone] 
 
   Email: [e-mail] 
 
   FlowComms Limited 
 
   Sasha Sethi 
 
   Telephone: [phone] 
 
   Email: [e-mail] 
 
   Asiamet Resources Nominated Adviser 
 
   RFC Ambrian Limited 
 
   Andrew Thomson / Stephen Allen 
 
   Telephone: [phone] 
 
   Email: [e-mail] / [e-mail] 
 
   Optiva Securities Limited 
 
   Christian Dennis 
 
   Telephone: [phone] 
 
   Email: [e-mail] 
 
   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. 
 
   You may also view the original graphics at the following location: 
 
   Figure 1: 
http://ww4.fscwire.com/sites/default/files/NR/792/17752_ARSING1.png 
 
   Rock chip grab samples from northern part of BKW assayed 26.1% Cu (Left) 
and 4.1% Cu (Right). 
 
   Figure 2: 
http://ww4.fscwire.com/sites/default/files/NR/792/17752_ARSING2.png 
 
   Location map showing Cu in Soils in the BK District. Coincident Cu in 
soil and rock chip anomalies occur at both BKW prospect and BKM copper 
deposit, with similar styles of copper mineralisation in both areas. 
 
   To view this press release as a PDF file, click onto the following link: 
public://news_release_pdf/Asiamet07192017.pdf 
http://ww4.fscwire.com/sites/default/files/news_release_pdf/Asiamet07192017.pdf 
 
 
   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

July 19, 2017 06:08 ET (10:08 GMT)

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