Asiamet Resources Limited Drilling/Production Report

 
TIDMARS 
 
BKM Feasibility Study Advancing to Plan - Mining and Geotechnical Studies 
Underway 
 
TSX Venture Exchange and AIM Symbol: ARS 
 
VANCOUVER, Oct. 12, 2016 /CNW/ - Asiamet Resources Limited ("ARS" or the 
"Company") is pleased to advise that excellent progress is being made on the 
Beruang Kanan Main ("BKM") feasibility study. 
 
As the detailed Resource evaluation drilling and metallurgical test work 
programs are now well advanced (45 holes/4500 metres of planned, 73 holes/6500 
metres completed), the Company is ramping up the mine engineering and related 
infrastructure components of the feasibility study. Australian Mine Design and 
Development Pty Ltd ("AMDAD") and PT Ground Risk Management ("GRM") have 
recently been engaged to undertake the mining engineering and geotechnical 
components of the feasibility study, respectively. 
 
AMDAD has over the past 27 years completed the engineering evaluation, planning 
and development for many highly successful open pit mine developments in 
South-east Asia similar to BKM. John Wyche, the principal leading the BKM 
engagement has over 30 years of evaluation, development and operation 
experience in open-cut and underground mining across more than 90 projects in 
Australia, the South Pacific, South East Asia, China, North America, Mexico and 
West Africa. 
 
AMDAD's scope of work includes open pit optimization, production rate 
assessments and development scenario analysis. These activities will support 
the strategic project development decisions being made by the Company in the 
coming months. More detailed feasibility study work will build upon these 
studies as results from the current exploration program and metallurgical 
test-work become available. With improved Resource knowledge, AMDAD will 
execute the required work to produce feasibility level pit designs, waste rock 
management and dump designs, mining equipment sizing and selection, mine 
scheduling, and the estimation of capital and operating costs for the mine. 
 
The geotechnical program will be led by GRM, a highly experienced consultancy 
that has completed over 100 geotechnical assignments across the Indonesian 
archipelago in the past eight years, more than 50 of which have been based in 
Kalimantan where the BKM copper deposit is located. Simon Ballantyne, the GRM 
principal leading the BKM program, is a recognized industry leader in the 
geotechnical field. 
 
GRM will implement a program of data collation, detailed mapping, geotechnical 
logging and laboratory testing to develop a robust geotechnical database for 
open pit mine engineering including assessments and recommendations on waste 
dumps. They will also provide geotechnical input into the infrastructure 
location studies being conducted. With the assistance of site surveys, this key 
input will allow the project team to establish an optimal site layout for the 
process plant and related infrastructure. GRM are also assisting with the 
hydrogeological components of the feasibility study, working with company 
personnel and other project consultants to establish an appropriate groundwater 
evaluation and management program. 
 
PT Lorax, engaged for the Environmental, Geoscience and Hydrology aspects of 
the feasibility study (as per ARS Press Release on 7 July 2016), has recently 
completed field activities for the dry season flora and fauna survey and the 
dry season aquatic ecology study. The rock geochemical characterization 
program, also being led by PT Lorax, has continued with static tests for acid 
rock drainage ("ARD") and metal leaching ("ML") evaluations progressing as 
planned. Results from 77 samples collected during August will underpin the data 
analysis for this key aspect of the feasibility study. 
 
Tony Manini, Asiamet's Chief Executive Officer commented: 
 
"The BKM feasibility study represents the most important pre-development 
de-risking phase for the project, the outcomes of which will be used by a wide 
range of stakeholders, including investors, financiers, government regulators 
and local communities, to assess the project's technical, financial, 
environmental and social viability. In order to ensure we meet or exceed the 
expectations of our key stakeholder groups it is critically important that all 
parts of the feasibility studies are completed to high industry standards. 
Securing the services of such highly experienced consultants for these key 
areas further strengthens the first-class team we have already assembled to 
deliver the BKM feasibility study and we look forward to reporting results of 
the various programs as they become available" 
 
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 
 
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. 
 
 
 
 
Tony Manini, Deputy Chairman and CEO, Asiamet Resources Limited, Telephone: +61 
3 8644 1300, 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] 
 
 
 
 
 
 
END 
 

(END) Dow Jones Newswires

October 12, 2016 02:00 ET (06:00 GMT)