Asiamet Resources Limited Asiamet Reports Final Assays For Bkm Feasibility Drilling

 
TIDMARS 
 
 
   Asiamet Resources Limited ("ARS" or the "Company") is pleased to advise 
that it has now received the final batch of assays for Resource infill 
and expansion drilling completed as part of Feasibility Studies on the 
Beruang Kanan Main ("BKM") copper deposit in Central Kalimantan, 
Indonesia.  Results continue to impress, with the latest near surface 
high grade copper assays returned from holes drilled at the BK058 Zone. 
In particular: 
 
 
   -- Infill drilling at the BKM deposit confirms excellent internal continuity 
      of near surface high grade copper mineralisation at the BK058 Zone 
 
   -- Twin drill holes confirm previously reported high grade and near surface 
      mineralisation at BKM058 Zone 
 
   -- Results have been incorporated into the ongoing Feasibility study to 
      refine and potentially improve the project's already favourable economics 
 
   -- Hackman & Associates are incorporating all 2016/17 drill results into an 
      updated Resource estimate. 
 
 
   The Resource infill and expansion drilling program at BKM comprised a 
total of 122 holes for 12480.9 metres of diamond core drilling.  The 
results from the final five drill holes of this drilling campaign are 
reported below. All were drilled in the southern part of the BKM deposit, 
with better results from the most recent drilling including: 
 
   BKM31800-07            58.0 metres at 1.45% Cu (from 6.5 metres) 
 
 
   -- Including 20.5 metres at 2.24% Cu (from 7.5 metres) 
 
   -- Including 18.5 metres at 1.71% Cu (from 36.0 metres) 
 
 
   BKM31835-01            17.5 metres at 1.57% Cu (from 25.5 metres) 
 
 
   -- Including 9.5 metres at 2.37% Cu (from 27.5 metres) 
 
          -- Includes 4.5 metres at 4.15% Cu (from 31.5 metres) 
 
 
   BKM31600-06            4.0 metres at 3.15% Cu (from 46.5 metres) 
 
   Expansion drill hole BKM31600-06 (100.0m End of Hole 'EOH') intersected 
a narrow zone of strong quartz - chalcocite - covellite veining, with 
individual veins up to 0.5 metres in width.  This hole was drilled 50 
metres west of BKM31600-05, which intersected 26.5 metres at 1.18% Cu 
from 48.0 metres, including 15.5 metres at 1.79% Cu from 50.0 metres 
(refer ARS Press Release May 24, 2017). 
 
   Quality control drill hole BKM31650-09 (120.0m EOH) is a scissor hole to 
BKM31650-07 (109.0m EOH), which intersected low to moderate grade copper 
mineralisation with locally narrow zones of high grade 
chalcocite-covellite located south of BKM058 Zone (refer ARS Press 
Release May 24, 2017).  BKM31650-09 was drilled east to confirm the 
orientation of mineralisation, and intersected similar style and grade 
mineralisation to that in BK31750-07. 
 
   BKM31750-11 (120.3m EOH) drilled as a quality control twin hole to 
BKM31750-01 (75.1m EOH), which reported 9m @ 0.73% Cu from 19.0m and 
10.0m @ 0.57% Cu from 41.0m (refer ARS Press Release May 13, 2015), 
successfully confirmed the moderate-grade copper mineralisation in 
BKM31750-01. 
 
   BKM31800-07 was drilled as a quality control twin hole to BKM31800-01 
(85.8m EOH) that reported 21.0 metres at 1.77% Cu from 9.0 metres depth 
and 29.5 metres at 0.95% Cu from 35.0 metres depth (refer ARS Press 
Release September 29, 2015). Drilling has successfully confirmed this 
zone of high grade near surface copper mineralisation. 
 
   Infill hole BKM31835-01 (118.0m EOH) drilled approximately 25m east of 
BKM31850-03 (101.1 m EOH), which reported 10.0m @ 0.93% Cu from 14.5m 
(refer ARS Press Release Sept 14, 2015), intersected higher grade quartz 
- chalcocite mineralisation compared to BKM31850-03, and confirms the 
near surface high grade mineralisation is 100m in width on this section 
line. 
 
   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 Resource infill and expansion drilling completed as part of the BKM 
Feasibility Study has consistently delivered results that have met or 
exceeded our expectations. The thickness, continuity and grade of copper 
mineralisation has proven to be very robust and we are expecting a high 
level of conversion from Inferred Resource to the higher confidence 
level Measured and Indicated Resources as the updated Resource estimate 
for BKM is completed shortly. The BKM mineralisation remains open in 
several areas and exploration in the wider BK District remains in its 
infancy. Asiamet is very excited by the opportunity to begin testing 
some of these high potential targets in the second half of 2017" 
 
   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, Asiamet Resources Limited 
 
   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. 
 
   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 
BKM31600-06     46.5   50.5       4.0          3.15                            4.0 Metres 
BKM31650-09     19.0   35.0      16.0          0.45                          44.15 Metres 
BKM31650-09     51.4   56.5       5.2          0.24 
BKM31650-09     85.5  108.5      23.0          0.39 
 Including      94.5   99.5       5.0          0.82 
BKM31750-11     18.7   83.0      64.4          0.29                          64.35 Metres 
BKM31800-07      6.5   64.5      58.0          1.45                           58.0 Metres 
 Including       7.5   28.0      20.5          2.24 
 Including      36.0   54.5      18.5          1.71 
BKM31800-07    107.5  111.5       4.0          0.59 
BKM31835-01     25.5   43.0      17.5          1.57                           17.5 Metres 
 Including      27.5   37.0       9.5          2.37 
  Includes      31.5   36.0       4.5          4.15 
 
 
   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/792/17150_ARSIMG1.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

June 15, 2017 02:00 ET (06:00 GMT)

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