Asiamet Resources Limited Asiamet Feasibility Drilling Hits More High Grade Copper At Bkm

 
TIDMARS 
 
 
   Asiamet Resources Limited ("ARS" or the "Company") is pleased to report 
that Resource evaluation drilling as part of feasibility studies on the 
Beruang Kanan Main ("BKM") copper deposit in Central Kalimantan, 
Indonesia continues to confirm excellent continuity of high grade copper 
mineralization in the BK044 Zone. 
 
   A total 70 holes for 7030 meters of diamond core drilling have now been 
completed and two holes are currently in progress. The results from ten 
holes drilled in the northern part of the BKM deposit are reported 
below. A further 48 holes/3970 meters are planned and a third drill rig 
has recently been mobilized to ensure completion of the feasibility 
study resource evaluation program in Q1,2017. An updated Resource 
estimate incorporating all of the 2016-2017 drilling will be prepared 
for release shortly thereafter. 
 
   Better results from the most recent drilling include: 
 
   BKM32600-05            4.8 meters at 1.07% Cu (from 21.3 meters) 
 
   26.85 meters at 2.34% Cu (from 34.15 meters) 
 
 
   -- Including 3.0 meters at 3.38% Cu (from 38.0 meters) 
 
   -- Including 16.0 meters at 3.02% Cu (from 44.0 meters) 
 
 
   BKM32600-06            14.0 meters at 0.74% Cu (from 34.0 meters) 
 
 
   -- Including 4.0 meters at 1.53% Cu (from 36.0 meters) 
 
 
   BKM32550-08            4.35 meters at 4.93% Cu (from 3.00 meters) 
 
 
   -- Including 2.0 meters at 8.97% Cu (from 4.0 meters) 
 
 
   33.5 meters at 0.75% Cu (from 34.5 meters) 
 
   BKM32100-02            4.0 meters at 1.87% Cu (from 2.00 meters) 
 
   2.0 meters at 1.36% Cu (from 17.00 meters) 
 
   BKM32150-05            30.0 meters at 0.75% Cu (from 9.00 meters) 
 
 
   -- Including 5.0 meters at 1.73% Cu (from 24.0 meters) 
 
   -- Including 5.0 meters at 1.03% Cu (from 34.0 meters) 
 
 
   Holes BKM32600-05 (128.8m end of hole ("EOH")) and BKM32600-06 (100.3m 
EOH) were drilled in the northern area of BK044 Zone.  Moderate to 
strong chalcocite-covellite mineralization was intersected just below 
the zone of oxidation in BKM32600-05, with individual samples (1-meter 
intervals) returning up to 7.78% copper in a broad zone of high grade 
mineralization.  Results from BKM32600-06 confirm that moderate to high 
grade copper mineralization thins to the west, as expected.  Drilling is 
now complete on this section with results confirming continuous 
mineralization up to 125m in true thickness over an east - west strike 
length of 400m. 
 
   Resource infill hole BKM32550-08 (169.8m EOH) drilled in the north east 
of BK044 Zone, intersected strong near surface copper mineralization 
followed further downhole by a zone of moderate grade 
chalcocite-covellite mineralization, confirming that high grade copper 
mineralization continues further eastward in this area.  Drilling is now 
complete on this section with results confirming continuous 
mineralization up to 125m in true thickness over an east - west strike 
length of 500m. 
 
   Two Resource infill holes BKM32500-06 (55.2m EOH) and BKM32500-07 (80.3m 
EOH) drilled west of BK044 Zone confirmed low to moderate copper 
mineralization hosted in quartz stockwork and pyrite veins, locally with 
strong chalcocite-covellite copper mineralization. 
 
   Quality control drill hole BKM32455-02 (65.0m EOH) collared adjacent to 
previous holes BK031 (128.9m @ 0.61% Cu from 16.0m refer ARS Press 
Release October 29, 2012) intersected moderate grade copper 
mineralization as expected. Quality control drill hole BKM32445-01 
(79.5m EOH) drilled east as a scissor hole to BK031 confirmed the 
orientation of mineralization in this area. 
 
   BKM32150-05 (76.1m EOH) drilled as an infill hole on section line 
intersected shallow, moderate to high grade chalcocite-covellite copper 
mineralization to the west of the BK044 Zone. This the final hole on 
this section with results confirming mineralization is continuous for 
325m in east - west dimension and is up to 100m in true thickness. 
 
   Two Resource infill holes BKM32100-01 (69.2m EOH) and BKM32100-02 (92.3m 
EOH) were drilled south of the BK044 Zone.  Each hole confirmed low to 
moderate grade copper mineralization. 
 
   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: 
 
   "The ARS drill results released today have again exceeded our 
expectations and provide further confirmation of the high quality 
characteristics of the BKM deposit. The higher grade BKM044 Zone has 
demonstrated excellent continuity of copper mineralization over more 
than 500m of strike length and is up to 325 meters wide and 100 meters 
thick in parts. This continuity coupled with the consistently shallow 
nature of the mineralization is expected to have a strong positive 
impact on project economics as mine engineering studies are completed. 
Feasibility study activities are being progressed at pace on all fronts 
and several corporate initiatives aimed at further strengthening the 
Company and providing funding options for the development of BKM have 
been significantly advanced. Asiamet expects 2017 to be a 
transformational year for the Company and we look forward to providing 
further updates shortly". 
 
   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. 
 
 
 
 
 
   HOLE ID      From    To     Length    Copper (%)    Cumulative Cu Mineralized Interval 
BKM32100-01     12.0   19.0       7.0          0.34                           16.0 Meters 
BKM32100-01     24.0   33.0       9.0          0.29 
BKM32100-02        2     60      58.0          0.45                           58.0 Meters 
 Including         2      6       4.0          1.87 
 Including        17     19       2.0          1.36 
 Including        52     57       5.0          0.81 
BKM32150-05      9.0   39.0      30.0          0.75                           30.0 Meters 
 Including      24.0   29.0       5.0          1.73 
 Including      34.0   39.0       5.0          1.03 
BKM32445-01     29.5   66.0      36.5          0.36                           56.8 Meters 
BKM32445-01     74.0   94.3      20.3          0.47 
BKM32455-02     20.0   45.0      25.0          0.39                           25.0 Meters 
BKM32500-06     42.5   55.2      12.7          0.82                           12.7 Meters 
 Including      47.5   51.5       4.0          1.99 
BKM32500-07     36.0   42.0       6.0          0.27                           37.0 Meters 
BKM32500-07     47.0   78.0      31.0          0.38 
BKM32550-08      3.0   7.35      4.35          4.93                           74.5 Meters 
 Including       4.0    6.0       2.0          8.97 
BKM32550-08     16.8   32.5      15.7          0.49 
BKM32550-08     34.5   68.0      33.5          0.75 
BKM32550-08     92.0  109.0      17.0          0.38 
BKM32550-08    144.0  148.0       4.0          0.61 
 
 
   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 Mineralized Interval 
BKM32600-05    12.00   14.00      2.00          0.31              46.35 Meters 
BKM32600-05    21.30   26.10      4.80          1.07 
 Including     23.50   26.10      2.60          1.76 
BKM32600-05    27.40   33.10      5.70          0.32 
BKM32600-05    34.15   61.00     26.85          2.34 
 Including     38.00   41.00      3.00          3.38 
 Including     44.00   60.00     16.00          3.02 
  Includes     56.00   60.00      4.00          5.70 
BKM32600-05   113.00  120.00      7.00          1.29 
 Including    114.00  117.00      3.00          1.82 
BKM32600-06      3.0    6.00      3.00          0.23              70.0 Meters 
BKM32600-06     34.0    48.0      14.0          0.74 
 Including      36.0    40.0       4.0          1.53 
 
 
   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. 
 
   To view the graphic, please click here 
http://fscwire.com/sites/default/files/NR/792/15083_img1.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

February 09, 2017 02:02 ET (07:02 GMT)

Copyright (c) 2017 Dow Jones & Company, Inc.