Asiamet Resources Limited Asiamet Review Highlights Exploration Upside Around Bkm

 
TIDMARS 
 
 
   Asiamet Resources Limited ("ARS" or the "Company") is pleased to 
announce the results of a comprehensive review of all historical 
exploration data collected within a 3 kilometer radius of the BKM 
deposit in Central Kalimantan, Indonesia where the Company is currently 
advancing feasibility studies for the development of a 25,000 tpa SX-EW 
copper mine. 
 
   The review assessed the base and precious metal potential at each of the 
Beruang Kanan West (BKW), Beruang Kanan South (BKS) and BKZ Polymetallic 
Prospects (BKZ). Significant copper, zinc and associated base and 
precious metal mineralization warranting near term drill testing is 
present on each of the key prospect areas. These prospects are shown on 
the project location map in Figure 1 and historic results for each 
prospect area are summarized below. 
 
   BKS Copper Prospect 
 
 
   -- A well-defined high tenor copper in soil anomaly measuring 800m x 600m is 
      located less than 1km south of BKM and is coincident with copper 
      mineralized sheeted veins and a strong near surface IP geophysical 
      anomaly of similar intensity to the near surface signature at BKM. 
 
 
   -- Historic rock chip sampling reported highly anomalous gold, silver and 
      copper values, including a rock chip outcrop sample assaying 12.3% Cu, 
      18.2g/t Au and 41g/t Ag 
 
 
   --  Scout hole KBK-028 (151.3m EOH) drilled in 2007 reported: 
 
 
   -- 26.5m @ 0.43% Cu from 2.5m, (including 10.5m @ 0.88% Cu from 14.5m) 
 
 
   This hole also intersected near surface high grade gold mineralization 
as follows: 
 
 
   -- 3m @ 11.5g/t Au from 11.5m, (including 1.5m @ 21.8g/t Au from 11.5m) 
 
 
   -- Three scout holes were drilled in 2015 totaling 194.8 meters. The first 
      drill hole BKM30350-01 intersected a barren dyke and was not assayed. 
      Drill holes BKM30500-01 and BKM30625-01 locally intersected moderate to 
      strong copper mineralization, including: 
 
 
   --  BKM30500-01 
 
 
   -- 10.0m @ 2.52% Cu from 19.5m depth 
 
   -- Includes 2m @ 7.45% Cu from 19.5m depth 
 
 
   -- 3.0m @ 1.45% Cu from 43.5m depth 
 
 
   --  3.5m @ 1.04% Cu from 58.5m depth 
 
 
   -- BKM30625-01 
 
   -- 1.0m @ 3.83% Cu from 7.5m depth 
 
 
   -- 2.0m @ 0.67% Cu from 12.5m depth 
 
 
   BKW Copper Prospect 
 
 
   --  Multiple copper mineralized sheeted vein zones with wide spread 
      alteration similar to BKM are observed within a 2.5 sqkm area, including 
      exposures along the BKM access road. Three well defined copper in soil 
      anomalies occur coincident with these sheeted vein zones, the largest 
      measuring 1.7km x 1km. 
 
 
   -- Copper in soil anomalies are coincident with chargeability anomalies 
      identified in IP geophysical surveys.  The most prominent chargeability 
      anomaly which replicates the BKM signature is greater than 1 km in strike 
      length. 
 
 
   -- Historic rock chip sampling of these sheeted vein zones yielded highly 
      anomalous copper values, with individual rock chip samples assaying up to 
      7.1% Cu. 
 
 
   -- No previous drilling on two anomalies noted above, and only one hole 
      drilled off the margin of a third extensive (1.7km by 1km) copper in soil 
      anomaly. 
 
 
   BKZ Polymetallic Prospect 
 
 
   -- Located less than 800m north of BKM a well-defined zinc-lead-copper in 
      soil anomaly measuring 400m by 200m occurs coincident with massive 
      sulphide-bearing outcrops. 
 
 
   --  Massive base metal sulphide-bearing outcrops are exposed along the main 
      creek with rock channel sampling returning exceptional high grade 
      polymetallic results including 11.5 meters @ 16.50% Zn, 6.16% Pb, 0.48% 
      Cu, 0.55g/t Au and 106g/t Ag. 
 
 
   --  A total of 12 line kilometers of IP and ground magnetic geophysical 
      surveys were completed and six scout holes were drilled in 1999 totaling 
      871 meters. Three holes (BKZ-1,2 and 3) tested the coincident soil/rock 
      geochemistry and IP chargeability anomaly. 
 
 
   --  Mineralization occurs within a zone of pervasive alteration, containing 
      barite, carbonate and gypsum after anhydrite. True thickness is estimated 
      at 50 meters, and mineralized outcrops indicate at least 100m of strike 
      extent.  Significant drill intercepts are summarized in Table 1. 
 
 
   Table 1: Historic significant drill intercepts at BKZ Prospect 
 
 
 
 
             From            Length   Zinc     Lead    Copper  Silver   Gold 
 Hole ID      (m)    To (m)   (m)      (%)      (%)     (%)    (g/t)    (g/t) 
  BKZ-1        6.00   56.00    50.0     2.91     1.01    0.12    25.2     0.52 
 Including     6.00   14.00     8.0     9.47     4.87    0.26    96.5     0.56 
  BKZ-2        8.20   15.50     7.3     3.65     1.31    0.09    38.5     0.53 
 Including     8.20   10.20     2.0     8.75     3.29    0.12    56.0     0.80 
  BKZ-2       17.60   49.60    32.0     2.19     0.91    0.10    12.1     0.26 
 Including    19.60   21.60     2.0     9.20     3.39    0.19    41.0     0.65 
 Including    33.60   35.60     2.0     6.75     1.74    0.38    22.0     0.26 
 Including    39.60   41.60     2.0     2.93     5.34    0.05    18.0     0.24 
  BKZ-3       14.60   19.10     4.5     8.33     4.26    0.08    79.6     0.54 
  BKZ-3       20.95   58.95    38.0     3.13     1.02     NSA    12.7     0.26 
 Including    20.95   46.95    26.0     4.00     1.39    0.07    17.0     0.31 
 
 
 
   Notes: Grade intercepts are calculated as a weighted average grade 
(uncut).  NSA-No Significant Assay 
 
   True widths are interpreted to be between 80-100% of the reported 
lengths, unless otherwise stated. 
 
   The BKW and BKS prospects display similar characteristics to the BKM 
deposit and represent potentially highly attractive resource expansion 
targets immediately adjacent to the proposed BKM mine. The BKZ prospect 
represents a potential stand-alone high value polymetallic target. 
 
   An initial scout drill program is proposed for each area in Q2-Q3, 2017 
to confirm the width and continuity of the mineralization. Any 
potentially economic areas will be fast tracked to resource delineation 
drilling as this may have a material impact on mine life and development 
planning for the BKM project. 
 
   Stephen Hughes, Asiamet's Vice President - Exploration commented: 
 
   "Asiamet has always been very excited by the substantial exploration 
potential in the wider BK area however it has been critical for the 
Company to focus its efforts on progressing the development of the BKM 
deposit over the past two years. As the feasibility study on BKM is now 
in full swing and advancing to plan we have taken the opportunity to 
re-assess and prioritize those targets with the potential to materially 
impact the BKM mine life and development schedule. With elevated base 
and precious metals extending over more than five square kilometers in 
the soils and high grade mineralization reporting from a number of 
discrete zones associated with favorable geology we are looking forward 
to more fully testing these targets and demonstrating the wider Resource 
potential of the BK area". 
 
   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 / 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. 
 
   To view the graphic, please click here 
http://fscwire.com/sites/default/files/NR/792/15274_AM1.png 
 
   Figure 1: Location map showing Beruang Kanan project area, and the four 
main prospects BKM, BKW, BKS and BKZ 
 
 
 
 
   To view the graphic, please click here         To view the graphic, please click here 
http://fscwire.com/sites/default/files/NR/79   http://fscwire.com/sites/default/files/NR/79 
              2/15274_AM2.jpg                                2/15274_AM3.jpg 
 
 
   Figure 2: (Left) Massive sulphide Galena-Sphalerite mineralization. 
(Right) Galena-Sphalerite mineralization in quartz 
 
   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 23, 2017 02:01 ET (07:01 GMT)

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