Asiamet Resources Limited Thick Copper Intersections Expand High Grade Zone At Bkm

 
TIDMARS 
 
 
   Asiamet Resources Limited ("ARS" or the "Company") is pleased to advise 
that Resource evaluation drilling being undertaken as part of the 
feasibility study at the Beruang Kanan Main ("BKM") copper deposit in 
Central Kalimantan, Indonesia continues to report wide intervals of 
higher grade near surface copper mineralization which further expand the 
BK044 Zone. 
 
   A total 67 holes for 6750 meters of diamond core drilling have now been 
completed and one hole is currently in progress. The results from ten 
holes drilled in the northern part of the BKM deposit are reported 
below. A further 51 holes/4250 meters are planned. 
 
   Better results from the most recent drilling include: 
 
   BKM32600-03    104.0 meters at 0.83% Cu (from 8.00 meters) 
 
 
   -- Including 4.0 meters at 1.93% Cu (from 8.0 meters) 
 
   -- Including 7.0 meters at 1.92% Cu (from 21.0 meters) 
 
   -- Including 18.0 meters at 1.31% Cu (from 33.0 meters) 
 
   -- Including 5.0 meters at 3.64% Cu (from 106.0 meters) 
 
 
   BKM32600-04    15.0 meters at 0.66% Cu (from 9.00 meters) 
 
 
   -- Including 2.0 meters at 2.41% Cu (from 9.0 meters) 
 
 
   74.5 meters at 0.64% Cu (from 29.0 meters) 
 
 
   -- Including 17.0 meters at 1.41% Cu (from 69.0 meters) 
 
   -- Includes 2.0 meters at 7.23% Cu (from 73.0 meters) 
 
 
   BKM32455-01    60.0 meters at 0.51% Cu (from 69.0 meters) 
 
   BKM32200-06        9.0 meters at 1.35% Cu (from 5.00 meters) 
 
 
   -- Including 3.0 meters at 3.18% Cu (from 9.0 meters) 
 
 
   52.25 meters at 1.15% Cu (from 26.0 meters) 
 
 
   -- Including 4.0 meters at 3.04% Cu (from 30.0 meters) 
 
   -- Including 6.0 meters at 1.59% Cu (from 49.0 meters) 
 
   -- Including 15.25 meters at 1.53% Cu (from 63.0 meters) 
 
 
   BKM32165-01    105.5 meters at 0.65% Cu (from 0.5 meters) 
 
 
   -- Including 24.5 meters at 1.27% Cu (from 5.5 meters) 
 
 
   Infill holes BKM32600-03 (153.7m end of hole ("EOH")) and BKM32600-04 
(159.4m EOH) drilled on the north-eastern end of BK044 Zone intersected 
strong chalcocite/covellite mineralization just below the zone of 
oxidation in each drill hole, with individual one meter intervals 
returning up to 10.1% copper in BKM32600-04 and 4.8% copper in 
BKM32600-03. These results confirm wider than expected, near surface, 
moderate to high grade copper mineralization approximately 175 meters in 
width on the northern end of the BK044 zone. 
 
   Geological logs for holes BKM32600-05 and BKM32600-06 drilled >100m west 
of BKM32600-03 reported significant intervals of near surface 
chalcocite/covellite mineralization in. Assays are pending. 
 
   Infill drill hole BKM32500-05 (66.0m EOH) drilled at the western margins 
of the BKM resource envelope intersected several zones of moderate grade 
copper mineralization consistent with the resource model. 
 
   Resource infill hole BKM32455-01 (151.7m EOH) drilled at the western 
edge of the BK044 Zone intersected a cumulative 106m interval (4 
individual sections) of moderate grade copper mineralization hosted in 
centimeter to meter scale quartz and or pyrite veins. 
 
   Quality control drill hole BKM32425-01 (80.4m EOH) was collared adjacent 
to a metallurgy hole BKM32400-02 (111.5m EOH) and drilled north to 
confirm the orientation of mineralization.   Chalcocite and covellite 
mineralization hosted in quartz stockwork and pyrite veins consistent 
with assay results in BK031, which returned 28.95m @ 0.61% Cu from 16.0m 
(refer ARS Press Releases October 29, 2012). 
 
   Two Resource infill holes BKM32400-03 (151.7m EOH) and BKM32400-04 
(123.0m EOH) were drilled at the western edge of the BK044 Zone, where 
previous drilling identified an interpreted landslip.  Each hole 
confirmed continuous low to moderate copper mineralization. 
 
   BKM32200-06 (79.5m EOH) was collared adjacent to BKM32200-03 (111.0m 
EOH) and drilled east to confirm the orientation of mineralization and 
test the robustness of the BKM Resource model. Strong zones of 
chalcocite and covellite copper mineralization were intersected from 
near surface hosted in quartz stockwork and pyrite veins. BKM32200-07 
was drilled outside the BK044 Zone and closes off the mineralization to 
the west as expected.  Drilling is now complete on this section with 
results confirming continuous mineralization up to 100m in true 
thickness over an east - west strike length of 125m. 
 
   BKM32165-01 (106.0m EOH), drilled as a quality control twin hole to 
BK048, which reported 15m @ 1.21% Cu from 4.5m and 80.5m @ 0.55% Cu from 
31.5m (refer ARS Press Releases June 10, 2013), successfully confirmed 
the moderate and high grade copper mineralization in BK048. 
 
   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: 
 
   "Asiamet is extremely pleased with these latest results from the 
feasibility study Resource evaluation drilling at BKM. These are some of 
the best intersections we have seen to date at BKM with greater 
thicknesses of mineralization than anticipated in several areas and 
excellent continuity of copper grade across the deposit. The drill out 
and upgrading of Inferred Resources to higher confidence Measured and 
Indicated Resources is a major de-risking/value enhancing milestone as 
it is only these higher confidence Resources which can be used in the 
economic evaluation and conversion to Ore Reserves. As such 
significantly increased valuation multiples are generally applied to 
Measured and Indicated Resources and Asiamet is very well placed to 
convert a large part of its Resource base to these higher confidence 
levels when an updated Resource estimate is completed at the end of the 
current drill campaign. 
 
   Overall the feasibility study on BKM is making excellent progress and 
with the recent capital raising now complete we are in a strong position 
to maintain the momentum at a time when the copper price is in the early 
stages of recovery. 
 
   Asiamet is simultaneously advancing a number of technical and corporate 
initiatives and we expect 2017 to be a transformational year for the 
Company" 
 
   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. 
 
 
 
 
 
                                                           Cumulative Cu 
   HOLE ID      From     To     Length    Copper (%)    Mineralized Interval 
BKM32165-01     0.50  106.00    105.50          0.65            105.5 Meters 
   Including    5.50   30.00     24.50          1.27 
BKM32200-06     5.00   14.00      9.00          1.35             61.3 Meters 
   Including    9.00   12.00      3.00          3.18 
BKM32200-06    26.00   78.25     52.25          1.15 
   Including   30.00   34.00      4.00          3.04 
   Including   49.00   55.00      6.00          1.59 
   Including   63.00   78.25     15.25          1.53 
BKM32200-07     0.00    6.00      6.00          0.28              6.0 Meters 
BKM32400-03    62.00   74.00     12.00          0.32             41.0 Meters 

BKM32400-03    91.00  120.00     29.00          0.22 
BKM32400-04    11.00   30.00     19.00          0.44             58.3 Meters 
   Including   20.00   22.95      2.95          1.57 
BKM32400-04    61.00   70.00      9.00          0.38 
BKM32400-04    75.00   77.00      2.00          1.16 
BKM32400-04    84.00   89.00      5.00          0.75 
BKM32400-04   100.00  111.00     11.00          0.25 
BKM32400-04   116.00  128.30     12.30          0.32 
 
 
   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) 
 
 
 
 
 
                                                           Cumulative Cu 
   HOLE ID      From     To     Length    Copper (%)    Mineralized Interval 
BKM32425-01    30.50   53.00     22.50          0.51             22.5 Meters 
BKM32455-01     2.00   12.00     10.00          0.33            106.0 Meters 
BKM32455-01    21.00   38.00     17.00          0.37 
BKM32455-01    47.00   66.00     19.00          0.44 
BKM32455-01    69.00  129.00     60.00          0.51 
BKM32500-05    11.00   22.00     11.00          0.27             40.2 Meters 
BKM32500-05    26.00   32.00      6.00          0.43 
BKM32500-05    36.00   39.20      3.20          0.77 
BKM32500-05    45.00   65.00     20.00          0.63 
BKM32600-03     8.00  112.00    104.00          0.83            123.0 Meters 
   Including    8.00   12.00      4.00          1.93 
   Including   21.00   28.00      7.00          1.92 
   Including   33.00   51.00     18.00          1.31 
   Including  106.00  111.00      5.00          3.64 
BKM32600-03   123.00  142.00     19.00          0.25 
BKM32600-04     9.00   24.00     15.00          0.66             89.5 Meters 
   Including    9.00   11.00      2.00          2.41 
BKM32600-04    29.00  103.50     74.50          0.64 
   Including   69.00   86.00     17.00          1.41 
    Includes   73.00   75.00      2.00          7.23 
 
 
 
   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/filefield_paths/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

January 17, 2017 02:00 ET (07:00 GMT)

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