Asiamet Resources Limited Asiamet Drilling Intersects Further High Grade Copper At Bkm

 
TIDMARS 
 
 
   Vancouver, British Columbia, 12 April 2017, Symbol: ARS 
 
   Asiamet Resources Limited ("ARS" or the "Company") is pleased to advise 
that Resource definition drilling as part of feasibility studies on the 
Beruang Kanan Main ("BKM") copper deposit in Central Kalimantan, 
Indonesia continues to intersect thick intervals of copper 
mineralisation with discrete high grade intervals, at both the BK058 and 
BK044 Zones. 
 
 
   -- The 2016-17 BKM Resource definition drilling program continues to 
      intersect thick intervals of shallow, moderate to high-grade copper 
      mineralisation across the deposit, which has successfully established 
      continuity and closed gaps in the previous BKM Resource model. 
 
   -- New copper mineralisation intersected in drill holes BKM31900-02 and 
      BKM1900-03 is outside of the current BKM resource envelope and located 
      between the BK044 and BK058 Zones. 
 
   -- Metallurgy hole BKM32200-04 drilled within BK044 Zone intersected a broad 
      zone of high grade copper, with individual samples (1-metre intervals) 
      assaying up to 13.0% copper. 
 
 
   A total 112 holes for 11500 metres of diamond core drilling have now 
been completed and three holes are currently in progress. The infill / 
expansion drill campaign has been extended to approximately 12,500 
metres, with the final 1,000 metres to be completed by the end of April. 
Additional holes were drilled on section lines BKM31900 and BKM32650, 
and several holes were extended to deeper levels to test the spatial 
continuity within selected mineralised domains. 
 
   The results from twelve holes are reported below, including three holes 
drilled for metallurgical test work.  Better results from the most 
recent drilling include: 
 
   BKM32200-04            82.0 Metres at 0.79% Cu (from 15.5 Metres) 
METALLURGY HOLE 
 
 
   -- Including 3.0 Metres at 1.19% Cu (from 15.5 Metres) 
 
   -- Including 13.0 Metres at 2.24% Cu (from 34.5 Metres)- Includes 3.0 Metres 
      at 3.36% Cu (from 37.5 Metres)- Includes 1.0 Metres at 13.0% Cu (from 
      45.5 Metres) 
 
   -- Including 11.0 Metres at 1.07% Cu (from 73.5 Metres) 
 
 
   BKM32475-01            26.4 Metres at 0.78% Cu (from 8.6 Metres) 
 
 
   -- Including 2.0 Metres at 1.96% Cu (from 21.0 Metres) 
 
   -- Including 1.0 Metres at 8.31% Cu (from 32.0 Metres) 
 
 
   BKM31900-02            12.0 Metres at 0.95% Cu (from 18.0 Metres) 
 
 
   -- Including 2.0 Metres at 1.96% Cu (from 27.0 Metres) 
 
 
   35.2 Metres at 0.80% Cu (from 35.0 Metres) 
 
 
   -- Including 3.0 Metres at 1.57% Cu (from 38.0 Metres) 
 
   -- Including 13.0 Metres at 1.25% Cu (from 47.0 Metres) 
 
 
   BKM31800-04            57.0 Metres at 0.60% Cu (from 7.0 Metres) 
METALLURGY HOLE 
 
 
   -- Including 6.0 Metres at 1.62% Cu (from 38.0 Metres) 
 
   -- Including 6.0 Metres at 0.86% Cu (from 52.0 Metres) 
 
 
   BKM31900-03            44.0 Metres at 0.57% Cu (from 1.0 Metres) 
 
 
   -- Including 15.0 Metres at 0.87% Cu (from 22.0 Metres) 
 
 
   BKM31970-01            53.5 Metres at 0.42% Cu (from 11.5 Metres) 
 
 
   -- Including 7.3 Metres at 1.07% Cu (from 15.75 Metres) 
 
 
   BKM32000-04            13.0 Metres at 0.74% Cu (from 0.0 Metres) 
 
 
   -- Including 4.0 Metres at 1.70% Cu (from 1.0 Metres) 
 
 
   Metallurgy hole BKM31800-04 (133.1m End of Hole 'EOH') intersected 
moderate to high grade chalcocite-covellite copper mineralisation 
similar to that reported previously in hole BKM31800-01 (40m to the 
east) and is within BK58 Zone (refer ARS Release September 29, 2015). 
 
   Resource expansion holes BKM31900-02 (70.2m EOH) and BKM31900-03 (89.2m 
EOH) drilled approximately 50m and 100m east of BKM31900-01 (33.3m EOH) 
respectively, both intersected pervasive near surface 
chalcocite-covellite mineralisation hosted in quartz-pyrite veins and 
confirmed easterly extensions of high grade copper mineralisation in 
this area. Resource infill hole BKM31925-01 (65.5m EOH) drilled 25m off 
section intersected moderate grade copper mineralisation from surface. 
 
   Resource infill hole BKM31950-05 (49.1m EOH) was drilled approximately 
40m east of BKM31950-03 (ARS Release August 26, 2015).  This hole 
intersected a post mineral diorite porphyry dyke starting at shallow 
depths and was therefore terminated before the proposed hole depth, with 
no significant mineralisation to report.    Resource infill hole 
BKM31970-01 (79.8m EOH) was drilled approximately 50m west of 
BKM31950-03 intersected a broad zone of moderate grade chalcocite 
mineralisation.  Drilling is near complete on this section line. 
 
   Resource infill hole BKM32000-02 (90.1m EOH) was drilled approximately 
50m east of BKM32000-01 (70.0m EOH) and confirmed moderate grade 
chalcocite - covellite mineralisation continues further eastward. 
Resource infill hole BKM32000-03 (70.1m EOH) was drilled 50m west of 
BKM32000-01, and also intersected moderate grade chalcocite - covellite 
mineralization from surface.  Resource infill hole BKM32000-04 (84.0m 
EOH) was drilled 60m east of BKM32000-02 and intersected moderate 
chalcocite - covellite mineralization starting from surface. Drilling is 
complete on this section line. 
 
   Hole BKM32200-04 (127m EOH) drilled within BKB044 Zone to provide sample 
for metallurgical test work intersected high grade chalcocite-covellite 
mineralisation over the entire drilled interval. High grade copper 
mineralisation up to 13.0% copper was reported over a 1-metre interval. 
Hole BKM32250-05 (81.5m EOH) located west of BK044 Zone drilled for 
metallurgical test work samples also intersected moderate grade 
chalcocite-covellite mineralisation over the entire drilled interval. 
 
   Infill hole BKM32475-01 (113.8m EOH) was drilled 25m off section and at 
the eastern edge of BK044 Zone.  Moderate to strong chalcocite-covellite 
mineralisation was intersected just below the zone of oxidation, with 
individual samples (1-metre intervals) returning up to 8.31% copper in a 
broad zone of high grade mineralisation. 
 
   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: 
 
   "Asiamet is pleased to report another set of excellent results from its 
feasibility study Resource evaluation drilling program at the BKM 
deposit. Results from the program have met or exceeded our expectations 
in respect of both grade and continuity, particularly within the higher 
grade BKM044 and BKM058 zones. While the program has been very much 
focused on Resource definition, some extension areas requiring further 
evaluation have also been identified for future follow up. As per our 
previous updates, we are extremely pleased with the geometry of the 
mineralization and both the lateral and vertical continuity of this 
mineralization at BKM and as the current drilling campaign nears its 
completion, greatly look forward to a positive Resource update to be 
issued shortly after results of these last few remaining holes." 
 
   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, Managing Director & CEO 
 
   For further information, please contact: 
 
   -Ends- 
 
   Peter Bird, Managing Director & CEO 
 
   Telephone: [phone] 
 
   Email: [e-mail] 
 
   Tony Manini 
 
   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 / 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] 
 
   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. 
 
 
 
 
 
                                                           Cumulative Cu 
    HOLE ID      From    To     Length    Copper (%)    Mineralised Interval 
 BKM31800-04      7.0   64.0      57.0          0.60             74.0 Metres 
  Including      38.0   44.0       6.0          1.62 
  Including      52.0   58.0       6.0          0.86 
 BKM31800-04     69.0   73.0       4.0          0.43 
 BKM31800-04     83.0   86.0       3.0          1.35 
 BKM31800-04     92.0  102.0      10.0          0.58 
 BKM31900-02     18.0   30.0      12.0          0.95             47.2 Metres 
  Including      27.0   29.0       2.0          1.96 
 BKM31900-02     35.0   70.2      35.2          0.80 
  Including      38.0   41.0       3.0          1.57 
  Including      47.0   60.0      13.0          1.25 
 BKM31900-03      1.0   45.0      44.0          0.57             51.0 Metres 
  Including      22.0   37.0      15.0          0.87 
 BKM31900-03     53.0   60.0       7.0          0.19 
 BKM31925-01      2.5     45      42.5          0.28             42.5 Metres 
BKM310950-05      No Significant Assays to Report                        NIL 
 BKM31970-01     11.5     65      53.5          0.42             53.5 Metres 
  Including     15.75     23       7.3          1.07 
 BKM32000-02        2      9       7.0          0.28             38.0 Metres 
 BKM32000-02       25     56      31.0          0.58 
  Including        49     52       3.0          2.33 
 BKM32000-03        3     22      19.0          0.51             19.0 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. 
 
   Table 1: Recent drill intercepts (continued) 
 
 
 
 
 
                                                          Cumulative Cu 
   HOLE ID      From    To     Length    Copper (%)    Mineralised Interval 
BKM32000-04      0.0   13.0     13.00          0.74            35.45 Metres 
 Including       1.0    5.0      4.00          1.70 
BKM32000-04       27     38     11.00          0.31 
BKM32000-04     58.4     66      7.60          0.54 
BKM32000-04     68.6  72.45      3.85          0.89 
BKM32200-04     15.5   97.5      82.0          0.79             82.0 Metres 
 Including      15.5   18.5       3.0          1.19 
 Including      34.5   47.5      13.0          2.24 
  Includes      37.5   40.5       3.0          3.36 
  Includes      45.5   46.5       1.0          13.0 
 Including      73.5   84.5      11.0          1.07 
BKM32250-05     23.5   46.5      23.0          0.45             23.0 Metres 
BKM32475-01      8.6   35.0      26.4          0.78             38.3 Metres 
 Including      21.0   23.0       2.0          1.63 
 Including      32.0   33.0       1.0          8.31 
BKM32475-01     65.2   74.0       8.8          0.75 
BKM32475-01    100.0  103.0       3.0          0.98 
 
   Notes: Grade intercepts are calculated as a weighted average grade 
greater than or equal to 0.2% copper (uncut). 
 
   rue widths are interpreted to be between 80-100% of the reported lengths, 
unless otherwise stated. 
 
   To view figure 1, please click on the following link: 
 
   http://fscwire.com/sites/default/files/NR/792/16078_asiametimage1.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

April 12, 2017 02:00 ET (06:00 GMT)

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