Asiamet Resources Limited Asiamet Expands Footprint Of High Grade Polymetallic Mineralisation In Bk District

 
TIDMARS 
 
 
   Systematic mapping and channel sampling of outcropping massive sulphide 
mineralisation was completed by Asiamet Resources Limited ("Asiamet" or 
the "Company") mid-April at the BKZ prospect in Central Kalimantan, 
Indonesia. BKZ is located 800m north of Asiamet's core BKM Copper 
Project where bankable feasibility studies are well advanced. Results 
received to date show the potential for a stand alone polymetallic 
deposit at BKZ. Highlights from this recent work include: 
 
 
   -- A continuous 15m rock channel sample collected in the southern part of 
      the BKZ prospect averaged 19.5% Zinc, 8.1% Lead, 121g/t Silver, 0.69g/t 
      Gold and 0.50% Copper (rock saw sampling at one-metre intervals) 
 
   -- Individual one-metre rock channel samples collected from three separate 
      locations over the mineralised strike extent outlined to date returned up 
      to: 
 
          -- 24.2% Zinc, 14.4% Lead, 0.83% Cu, 86g/t Silver and 0.24g/t Gold 
 
          -- 17.7% Zinc, 16.6% Lead, 0.23% Cu, 174g/t Silver and 1.34g/t Gold 
 
          -- 7.6% Zinc, 6.1% Lead, 0.10% Cu, 246g/t Silver and 0.36g/t Gold 
 
   -- Excellent potential to identify additional polymetallic mineralisation 
      along strike associated with a well defined coincident zinc-lead -copper 
      in soil anomaly measuring 400 x 200m. 
 
   -- Drill holes and surface sampling of massive sulphide-bearing outcrops 
      confirm mineralisation is near surface and has at least 150m of strike 
      extent 
 
   -- Additional high grade polymetallic mineralisation was also mapped and 
      sampled to the immediate south of BKM Copper deposit with rock chips 
      assaying to 35.6% Zinc, 26.2% Lead, 2.94% Copper, 1.0g/t Gold and 3440g/t 
      Silver 
 
 
   A total of 53 rock chip channel samples collected in the vicinity of 
historical drill hole BKZ-1 (123.1m End of Hole 'EOH') which intersected 
16m @ 5.75% Zinc, 2.78% Lead, 0.16% Copper, 0.64g/t Gold and 57.5g/t 
Silver from 6m depth (refer ARS Release October 21, 2015).  Channel 
samples were taken within a mapped area measuring 300m x 300m area and 
the discovery of new massive sulphide-bearing outcrops confirms a strike 
length of at least 150 metres.  Summary channel sample results (see 
Table 1 below) confirm the high grade polymetallic nature of the BKZ 
mineralised system, with up to 37% combined Lead-Zinc over 1-metre 
sample intervals.  The true width and thickness of the high grade 
mineralisation has not yet been determined. 
 
   Additional to the high grade polymetallic mineralisation mapped and 
sampled at the BKZ prospect, a review of historic exploration data 
collected to the immediate south of BKM Copper deposit confirms a strong 
coincident zinc-lead-copper in rock chip and soil anomaly measuring 400 
x 400 metres. A rock chip sample collected from a large boulder within 
this anomalous area assayed 35.6% Zinc, 26.2% Lead, 2.94% Copper, 1.0g/t 
Gold and 3440g/t Silver.  The location and style of this mineralisation 
is similar to that identified at BKZ and represents a second-high 
priority polymetallic target that warrants drill testing.  The BKZ and 
BKZ South prospects are shown on the project location map in Figure 1. 
http://www.asiametresources.com/i/pdf/2017-06-09-23_fig.jpeg 
 
   Table 1: Channel sample results from BKZ surface sampling program 
 
 
 
 
 Channel    From   To   Interval   Zn     Pb     Ag      Au     Cu    Combined 
 Location    (m)   (m)     (m)     (%)    (%)   (g/t)   (g/t)   (%)   Pb-Zn (%) 
 Southern 
    BKZ        0    15        15  19.50  8.10     121    0.69  0.50       27.60 
 Central 
    BKZ        0     6         6  13.40  8.20     103    0.52  0.18       21.60 
 Northern 
    BKZ        0     5         5   4.10  3.40     180    0.36  0.06        7.50 
 
 
 
   Peter Bird, Asiamet's Chief Executive Officer commented: 
 
   "Potential for polymetallic mineralisation in the BK District has been 
known for some time, however the grades and thicknesses indicated by 
this most recent work together with the identification of a second area 
of similar potential close to the advanced BKM project are very 
exciting.  While Asiamet will continue to focus its effort on 
progressing development of the BKM copper project and nearby copper 
prospects, it is also important for investors to appreciate the 
exceptional potential for additional discoveries on the KSK property. 
Asiamet looks forward to further advancing these high grade polymetallic 
prospects in the near future" 
 
   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] 
 
   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. 
 
   To view the graphic, please click here 
http://ww4.fscwire.com/sites/default/files/NR/792/17089_ARSIMG1.png 
 
   Figure 1: Location map showing Zn in Soils in the BK District. 
Coincident Zn in soil and rock chip anomalies occur at both BKZ prospect 
and immediately to the south of the BKM copper deposit, with similar 
styles of massive sulphide  mineralisation observed in both areas by ARS 
geologists. 
 
   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

June 09, 2017 02:00 ET (06:00 GMT)

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