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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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.075 | 9.68% | 0.85 | 0.80 | 0.90 | 0.85 | 0.775 | 0.775 | 5,878,414 | 12:45:55 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Miscellaneous Metal Ores,nec | 0 | -6.93M | -0.0027 | -3.15 | 22.05M |
Hot Features
Premium
TIDMARS
-- Recent drilling confirmed further extensions to the BKM Mineralisation
both along strike and at depth. Chalcocite-covellite copper
mineralisation was intersected 50m south of the Preliminary Economic
Assessment ("PEA") open pit design and thick intervals of moderate
to high-grade copper mineralisation extending more than 100 metres below
the base of the conceptual open pit design, as proposed in the PEA were
intersected on section line BKM32300.
-- Resource infill drilling results have confirmed a very robust Resource
with excellent continuity. As a result it is expected that a large
proportion of the current BKM Resource will be upgraded to the higher
confidence Measured and Indicated Mineral Resource categories when the
new Resource statement is completed. This will then feed into the mining
engineering studies and the reporting of initial Ore Reserves for the BKM
project.
-- Assay results from the infill and expansion drilling program at BKM are
near complete, with only 5 holes outstanding. Once the remaining assays
are received over the next week the Mineral Resource update can be
completed shortly thereafter.
Results from 32 additional drill holes completed as part of the BKM
Feasibility studies Resource infill and extension program are reported
below, with better results from the most recent drilling including:
BKM32300-06 90.0 metres at 1.11% Cu (from 2.5 metres)
-- Including 29.0 metres at 1.75% Cu (from 2.5 metres)
-- Includes 19.0 metres at 2.29% Cu (from 2.5 metres)
-- Including 3.0 metres at 2.07% Cu (from 45.5 metres)
-- Including 6.0 metres at 1.44% Cu (from 59.5 metres)
31.0 metres at 0.85% Cu (from 149.5 metres)
-- Including 9.0 metres at 1.01% Cu (from 149.5 metres)
-- Including 7.0 metres at 1.14% Cu (from 164.5 metres)
-- Including 2.0 metres at 1.12% Cu (from 178.5 metres)
BKM32300-07 33.0 metres at 0.87% Cu (from 15.0 metres)
-- Including 3.0 metres at 1.07% Cu (from 15.0 metres)
-- Including 3.0 metres at 1.18% Cu (from 24.0 metres)
-- Including 4.0 metres at 3.02% Cu (from 33.0 metres)
BKM32250-07 144.5 metres at 0.85% Cu (from 1.0 metres)
-- Including 12.0 metres at 2.58% Cu (from 1.0 metres)
-- Including 9.0 metres at 1.49% Cu (from 18.0 metres)
-- Including 13.0 metres at 1.86% Cu (from 50.5 metres)
-- Including 3.0 metres at 2.41% Cu (from 130.5 metres)
-- Including 6.0 metres at 1.12% Cu (from 138.5 metres)
BKM32250-08 6.15 metres at 0.94% Cu (from 0.35 metres)
BKM32250-08 14.0 metres at 1.28% Cu (from 11.5 metres)
BKM32250-08 47.0 metres at 0.79% Cu (from 43.5 metres)
-- Including 3.0 metres at 2.22% Cu (from 56.5 metres)
-- Including 15.0 metres at 1.24% Cu (from 64.5 metres)
BKM31600-01 21.0 metres at 0.74% Cu (from 4.5 metres)
-- Including 1.0 metres at 9.37% Cu (from 9.5 metres)
-- Including 1.0 metres at 2.65% Cu (from 15.5 metres)
BKM31600-04 3.0 metres at 1.15% Cu (from 13.0 metres)
BKM31600-04 37.0 metres at 0.90% Cu (from 52.5 metres)
-- Including 12.0 metres at 1.37% Cu (from 54.5 metres)
-- Including 7.0 metres at 1.36% Cu (from 78.5 metres)
BKM31600-05 26.5 metres at 1.18% Cu (from 48.0 metres)
-- Including 15.5 metres at 1.79% Cu (from 50.0 metres)
BKM31650-07 11.5 metres at 1.05% Cu (from 1.5 metres)
-- Including 6.0 metres at 1.76% Cu (from 6.0 metres)
BKM31650-08 52.0 metres at 0.70% Cu (from 48.0 metres)
-- Including 7.0 metres at 3.35% Cu (from 57.0 metres)
BKM31850-09 58.0 metres at 0.70% Cu (from 1.0 metres)
-- Including 34.0 metres at 1.00% Cu (from 24.0 metres)
Expansion drill hole BKM31500-01 (112.0m End of Hole 'EOH') was drilled
approximately 100m west of KBK-24 (305m EOH), which intersected 40.5m @
0.51% Cu (refer ARS Corporate Presentation June 2011). BKM31500-01
intersected locally narrow zones of moderate grade copper
mineralisation.
Expansion drill holes BKM31550-03 (54.5m EOH) and 04 (110.0m EOH) were
drilled approximately 100m and 50m west of BKM31550-02 (70.4m EOH) which
intersected 4.4m @ 0.44% Cu (refer ARS Release September 29, 2015),
respectively. BKM31550-04 was terminated at 54.5m due to a technical
problem and the final metre of core assayed 0.24% Cu. BKM31550-03
intersected a narrow zone of high grade chalcocite - covellite
mineralisation followed downhole by a broad zone of low grade and
similar style mineralisation.
Assays have been received for five of six expansion holes drilled on
section line BKM31600. The most impressive mineralisation occurs in
drill holes BKM31600-01 (100.3m EOH), BKM31600-04 (100.0m EOH) and
BKM31600-05 (101.1m EOH), where strong quartz - chalcocite - covellite
veining was intersected and with individual veins up to 1.5 metres in
width. BKM31600-02 (101.1m EOH) and BKM31600-03 (110.0m EOH)
intersected moderate grade chalcocite-covellite mineralisation. This
extends the chalcocite-covellite mineralisation 50m south of the PEA
open pit design. Assays for BKM31600-06 (100.0m EOH) are expected next
week.
Infill holes BKM31650-07 (109m EOH) and BKM31650-08 (100m EOH) were
drilled approximately 50m east and 50m west of BKM31650-05 (81.6m EOH),
respectively, which intersected 12.0m @ 1.22% Cu (refer ARS Release July
22, 2015). Both holes intersected moderate to locally high grade
chalcocite-covellite mineralisation hosted in quartz stockwork veins.
Infill hole BKM31800-08 (114.6m EOH) was drilled approximately 50m east
of BKM31800-01 (85.8m EOH), which intersected 21.0m @ 1.77% Cu (refer
ARS Release September 29, 2015) and intersected moderate to locally high
grade chalcocite-covellite mineralisation.
Infill holes BKM31850-08 (56.8m EOH) and BKM31850-09 (105.90m EOH) were
drilled approximately 50m west and 65m east of BKM31850-04 (97.7m EOH),
respectively. BKM31850-08 intersected the same coarse grained diorite
porphyry that BKM31850-04 intersected, and the hole was terminated.
BKM31850-09 intersected a thick zone of moderate to high grade
chalcocite-covellite mineralisation hosted in pyrite-quartz stockwork
veins.
Infill hole BKM31900-05 (65.6m EOH) was drilled approximately 50m west
of BKM31900-01 (33.3m EOH), which was abandoned in high grade copper
mineralisation that assayed 1.27% Cu over the final 5.3 metres (refer
ARS Release September 15, 2016). BKM31900-05 intersected near-surface
moderate to high grade chalcocite mineralisation before intersecting a
post mineral diorite porphyry dyke. Infill hole BKM31900-06 (75.0m
EOH) was drilled approximately 25m east of BKM31900-03 (89.2m EOH),
which intersected 44m @ 0.57% Cu and included 15m @ 0.87% Cu (refer ARS
Release April 12, 2017). Similar style and grade chalcocite - covellite
mineralisation was intersected in BKM31900-06, which drilled eastward
and away from the BKM31900-03 collar.
Infill holes BKM32050-05 (75.5m EOH), BKM32100-04 (56.5m EOH),
BKM32100-05 (76.8m EOH) and BKM32200-08 (61.3m EOH) tested the margins
of the BKM deposit, and each hole intersected low to moderate grade
chalcocite-covellite mineralisation as expected.
Thick intersections of near-surface high grade copper mineralisation
reported on section lines BKM32250 and BKM32300, in BK044 Zone.
Quality control drill hole BKM32250-07 (168.0m EOH) is a scissor hole to
BKM32250-03 (101.9m EOH), which intersected 51.9m @ 1.36% Cu from 50.0m
(refer ARS Press Release October 8, 2015). BKM32250-07 was drilled east
to confirm the orientation of mineralisation, and intersected similar
style and grade mineralisation to that in BK32250-03. BKM32250-08
(148.1m EOH) drilled as a quality control twin hole to BKM32250-02
(110.8m EOH), which reported 27m @ 1.18% Cu from 4.0m and 32.0m @ 1.29%
Cu from 60.0m (refer ARS Press Release September 29, 2015), successfully
confirmed the high-grade copper mineralisation in BKM32250-02.
Assays received for six infill holes drilled on section line BKM32300
reported thick intervals of moderate to high-grade copper mineralisation
extending more than 100 metres below the base of the conceptual open pit
design, as proposed in the Preliminary Economic Assessment ("PEA"). The
most impressive mineralisation occurs in drill holes BKM32300-06 (214.1m
EOH) and BKM32300-07 (112.6m EOH), where strong quartz - chalcocite -
covellite veining was intersected in several zones starting from surface
and to depths of more than 180 metres. Infill holes BKM32300-04
(156.1m EOH), BKM32300-08 (97.5m EOH) and BKM32300-09 (140.0m EOH)
intersected low to moderate grade chalcocite-covellite-chalcopyrite
mineralisation as expected. BKM32300-05 (87.9 EOH) was drilled at the
western margin and intersected a narrow zone of high grade
mineralisation, which closes off the system to the west. BKM32300-10
was drilled for metallurgical test work.
Infill holes BKM32350-06 (120.4m EOH) and BKM32350-07 (129.0m EOH)
tested intersected the western margins of the BKM deposit and
intersected narrow to broad zones of low to moderate grade
chalcocite-covellite-chalcopyrite mineralisation as expected. Quality
control drill hole BKM32335-01 (156.1m EOH) is a scissor hole to BK035
(101.9m EOH), which intersected 51.0m @ 0.50% Cu from 72.2m (refer ARS
Press Release February 19, 2013). BKM32335-01 was drilled east to
confirm the orientation of mineralisation, and intersected similar style
and grade mineralisation to that in BK035.
A drill hole location plan and a table of full assay results are
provided in Figure 1 and Table 1 respectively.
Peter Bird, Asiamet's Chief Executive Officer commented:
"The BKM resource upgrade and infill drilling has been completed on time
at the end of April 2017 as part of the Feasibility Study plan. Results
within this release and previous releases this year have confirmed the
continuity of mineralisation within the deposit has more than verified
that which was assumed in the PEA. We are very comfortable with the
original PEA assumptions and the recent extensions to mineralisation
outside the previously defined envelope encourage us from the
perspective of having the ability to grow our resource base over time.
The immediate task now is to incorporate all the assay results into an
updated Resource model for use in the mine design and engineering work,
following which an initial Mineral Reserve can be reported"
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, Vice Chairman and CEO, Asiamet Resources Limited
For further information, please contact:
-Ends-
Peter Bird, Vice Chairman and CEO, Asiamet Resources Limited
Telephone: +61 3 8644 1300
Email: peter.bird@asiametersources.com
Tony Manini
Executive Chairman, Asiamet Resources Limited
Telephone: +61 3 8644 1300
Email: tony.manini@asiametersources.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
VSA Capital Limited
Andrew Raca / Justin McKeegan
Telephone: +44 20 3005 5004 / +44 20 3005 5009
Email: araca@vsacapital.com
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 Copper (%) Cumulative Cu Mineralised Interval
BKM31500-01 66.0 72.0 6.0 0.66 17.0 Metres
BKM31500-01 79.0 82.0 3.0 0.55
BKM31500-01 94.0 102.0 8.0 0.35
BKM31550-03 43.00 47.00 4.00 1.45 32.0 Metres
BKM31550-03 68.00 96.00 28.00 0.32
BKM31550-04 No Significant Assays NIL
BKM31600-01 4.50 25.50 21.00 0.74 55.8 Metres
Including 9.50 10.50 1.00 9.37
Including 15.50 16.50 1.00 2.65
BKM31600-01 35.50 37.50 2.00 0.27
BKM31600-01 42.50 45.50 3.00 1.04
BKM31600-01 58.50 72.50 14.00 0.50
BKM31600-01 84.50 100.30 15.80 0.37
BKM31600-02 10.00 39.00 29.00 0.37 48.3 Metres
BKM31600-02 49.00 51.60 2.60 0.24
BKM31600-02 55.50 57.70 2.20 0.57
BKM31600-02 72.50 87.00 14.50 0.73
Including 72.50 81.50 9.00 0.99
BKM31600-03 53.00 71.00 18.00 0.45 47.5 Metres
BKM31600-03 67.00 70.00 3.00 1.23
BKM31600-03 75.00 104.50 29.50 0.41
BKM31600-04 13.00 16.00 3.00 1.15 47.5 Metres (Continued)
BKM31600-04 52.50 89.50 37.00 0.90
Including 54.50 66.50 12.00 1.37
Including 78.50 85.50 7.00 1.36
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.
Table 1: Recent drill intercepts (continued)
HOLE ID From To Length Copper (%) Cumulative Cu Mineralised Interval
BKM31600-04 93.50 101.00 7.50 0.56
BKM31600-05 18.00 21.00 3.00 0.39 40.5 Metres
BKM31600-05 34.00 45.00 11.00 0.39
BKM31600-05 48.00 74.50 26.50 1.18
Including 50.00 65.50 15.50 1.79
BKM31650-07 1.50 13.00 11.50 1.05 64.5 Metres
Including 6.00 12.00 6.00 1.76
BKM31650-07 23.00 45.00 22.00 0.24
BKM31650-07 49.00 55.00 6.00 0.45
BKM31650-07 60.00 72.00 12.00 0.47
BKM31650-07 92.00 96.00 4.00 0.34
BKM31650-07 100.00 109.00 9.00 0.37
BKM31650-08 26.00 33.00 7.00 0.69 59.0 Metres
BKM31650-08 48.00 100.00 52.00 0.70
Including 57.00 64.00 7.00 3.35
Including 74.00 77.00 3.00 0.82
BKM31800-08 22.5 62.5 40.0 0.58 56.0 Metres
Including 26.5 32.5 6.0 0.97
Including 51.5 57.5 6.0 0.88
BKM31800-08 65.5 70.5 5.0 0.81
BKM31800-08 77.5 88.5 11 0.38
BKM31850-08 No Significant Assays NIL
BKM31850-09 1.00 59.00 58.00 0.70 58.0 Metres
Including 24.00 58.00 34.00 1.00
BKM31900-04 No Significant Assays NIL
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.
Table 1: Recent drill intercepts (continued)
HOLE ID From To Length Copper (%) Cumulative Cu Mineralised Interval
BKM31900-05 11.50 35.15 23.65 0.40 23.65 Metres
Including 24.50 31.50 7.00 0.89
BKM31900-06 1.00 43.50 42.50 0.57 42.5 Metres
Including 11.50 14.50 3.00 1.82
Including 33.50 40.50 7.00 1.00
BKM32050-05 5.50 16.50 11.00 0.40 40.0 Metres
BKM32050-05 22.50 30.50 8.00 0.24
BKM32050-05 34.50 55.50 21.00 0.23
BKM32100-04 31.50 38.50 7.00 0.66 4.0 Metres
BKM32100-05 29.50 42.50 13.00 0.23 21.0 Metres
BKM32100-05 53.50 61.50 8.00 0.28
BKM32200-08 12.00 16.00 4.00 0.20 14.0 Metres
BKM32200-08 22.00 32.00 10.00 0.23
BKM32250-07 1.00 145.50 144.50 0.85 144.5 Metres
Including 1.00 13.00 12.00 2.58
Including 18.00 27.00 9.00 1.49
Including 50.50 63.50 13.00 1.86
Including 130.50 133.50 3.00 2.41
Including 138.50 144.50 6.00 1.12
BKM32250-08 0.35 6.50 6.15 0.94 71.2 Metres (Continued)
Including 1.50 4.50 3.00 1.52
BKM32250-08 11.50 25.50 14.00 1.28
Including 14.50 24.50 10.00 1.68
BKM32250-08 34.50 38.50 4.00 0.46
BKM32250-08 43.50 90.50 47.00 0.79
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.
Table 1: Recent drill intercepts (continued)
HOLE ID From To Length Copper (%) Cumulative Cu Mineralised Interval
Including 56.50 59.50 3.00 2.22 71.2 Metres Including 64.50 79.50 15.00 1.24 BKM32300-04 112.50 122.50 10.00 0.34 28.0 Metres BKM32300-04 132.50 143.50 11.00 0.57 BKM32300-04 149.50 156.50 7.00 0.64 BKM32300-05 54.00 57.00 3.00 1.14 3.0 Metres BKM32300-06 2.50 92.50 90.00 1.11 148.0 Metres Including 2.50 31.50 29.00 1.75 Includes 2.50 21.50 19.00 2.29 Including 45.50 48.50 3.00 2.07 Including 59.50 65.50 6.00 1.44 BKM32300-06 104.50 122.50 18.00 0.40 BKM32300-06 132.50 141.50 9.00 0.36 BKM32300-06 149.50 180.50 31.00 0.85 Including 149.50 158.50 9.00 1.01 Including 164.50 171.50 7.00 1.14 Including 178.50 180.50 2.00 1.12 BKM32300-07 15.00 48.00 33.00 0.87 53.0 Metres Including 15.00 18.00 3.00 1.07 Including 24.00 27.00 3.00 1.18 Including 33.00 37.00 4.00 3.02 BKM32300-07 57.00 62.00 5.00 0.30 BKM32300-07 67.00 82.00 15.00 0.28 BKM32300-08 9.70 27.00 17.30 0.33 61.8 Metres (Continued) BKM32300-08 31.00 55.50 24.50 0.53 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. Table 1: Recent drill intercepts (continued) HOLE ID From To Length Copper (%) Cumulative Cu Mineralised Interval BKM32300-08 74.50 94.50 20.00 0.36 Continued BKM32300-09 16.00 28.00 12.00 0.55 65.5 Metres BKM32300-09 33.00 50.00 17.00 0.27 BKM32300-09 78.00 114.50 36.50 0.26 BKM32300-10 Metallurgy Drill Hole NIL BKM32335-01 32.00 57.00 25.00 0.27 114.0 Metres BKM32335-01 66.00 155.00 89.00 0.36 BKM32350-06 48.50 66.50 18.00 0.67 18.0 Metres Including 53.50 57.50 4.00 2.42 BKM32350-07 21.00 105.00 84.00 0.35 84.0 Metres 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 graphic, please click here http://ww4.fscwire.com/sites/default/files/NR/792/16718_ARSIMG1_0.png 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
May 24, 2017 02:00 ET (06:00 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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