We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Register for streaming realtime charts, analysis tools, and prices.
| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Asiamet Resources Limited | LSE:ARS | London | Ordinary Share | BM04521V1038 | COM SHS USD0.01 (DI) |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.05 | 7.14% | 0.75 | 0.65 | 0.75 | 0.725 | 0.675 | 0.70 | 5,079,004 | 16:35:18 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Miscellaneous Metal Ores,nec | 0 | -6.93M | -0.0027 | -2.59 | 18.16M |
Dow Jones received a payment from EQS/DGAP to publish this press release.
Hot Features
Premium
Asiamet Resources Ltd. (ARS)
Exceptional Zn-Pb-Ag-Au Drill Results Upgrade Potential of BKZ Discovery
11-Oct-2017 / 07:00 GMT/BST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
For Immediate Release London AIM
October 11, 2017 Symbol: ARS
Asiamet's Exceptional Zn-Pb-Ag-Au Drill Results Upgrade Potential of BKZ
Discovery
Asiamet Resources Limited ("ARS" or the "Company") is pleased to announce
that scout drilling at the BKZ prospect continues to intersect broad zones
of near surface high grade base and precious metal rich mineralisation.
Results received for step-out drilling along strike of earlier intersections
(refer ARS Press Releases October 3, 2017) have exceeded all expectations
and provide added confidence that the Company has potentially discovered a
stand-alone high grade polymetallic Zn-Pb-Ag-Au deposit on its Kalimantan
Surya Kencana ("KSK") 6th Generation Contract of Work ("CoW"), in Central
Kalimantan, Indonesia.
BKZ is located approximately 800m north and proximal to the main access road
leading to the Company's feasibility stage BKM Copper Project. The discovery
of thick, very shallow, high grade polymetallic mineralisation close to
planned and propose infrastructure has the potential to transform the value
of the KSK property and is considered to be a very significant development
for the project and Company.
To date, seven holes (705m metres in total) have been drilled to test a zone
of massive sulphide outcrops over an area of 150m x 100m. Highlights of the
latest batch of drill results received include:
BKZ33650-01 30.0m at 8.9% Zinc, 2.2% Lead, 46g/t Silver and
0.37g/t Gold (from 43 metres)
Including 9.0m at 12.0% Zinc, 5.4% Lead, 94g/t
Silver, 0.56g/t Gold (from 44 metres)
Including 9.0m at 12.6% Zinc, 1.2% Lead, 28g/t
Silver, 0.15g/t Gold (from 61 metres)
The first hole on section line BKZ33650 was drilled 50m south of BKZ33700-02
(113.9m End of Hole "EOH"), which intersected 39m at 7.3% zinc, 2.3% lead,
33g/t silver and 0.33g/t gold from 41 metres (refer ARS Press Releases
October 3, 2017). BKZ33650-01 (113m EOH) intersected a broad zone of
quartz-sulphide mineralisation from 43m depth, which outcrops approximately
50m to the east. The mineralisation comprises quartz-sulphide veins to
massive sphalerite (zinc), galena (lead), chalcopyrite (copper) and pyrite
(Figure 2). This intersection is consistent with the interpreted geometry of
BKZ mineralisation observed in adjacent holes, indicating the
quartz-sulphide body is approximately 40-50 metres in true thickness.
The results of BKZ33650-01 confirming high grade zinc-rich polymetallic
mineralisation extends to the south of previous drilling is very promising.
This is the highest-grade broad interval of zinc-rich mineralisation the
Company has drilled to date and provides further evidence that polymetallic
mineralisation is increasing in grade to the east. It also enhances our
understanding of the structural and stratigraphic controls on the BKZ
mineralisation which remains open laterally and to depth. Step-out drilling
continues to the south and east and the drill rig is currently positioned on
BKZ33650-02, testing the eastern extensions to the high-grade polymetallic
mineralisation intersected in BKZ33650-01.
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:
"As the BKM Copper Project is being advanced through Feasibility Study, a
pipeline of additional prospects on the KSK COW such as BKZ Polymetallic,
Beruang Kanan West, Beruang Kanan South and Baroi represent high potential
walk up drill targets of which some are to be progressively tested over the
coming weeks and months. The Company views the recent results from drilling
at BKZ, the first pipeline target to be tested in the current program, as a
clear illustration of the substantial upside potential remaining on the very
underexplored KSK COW. Work undertaken by the Company and its predecessor
partners to date suggests that the greater BK area represents a polymetallic
mineral district covering approximately 10-15 square kilometres, the
potential of which is only beginning to see daylight. The discovery and
delineation of the BKM copper deposit in the past three years and these
recent exceptional grade polymetallic results from early drilling at BKZ
highlight the potential to multiply the value of the KSK COW through
systematic exploration. the Company is very excited by this opportunity and
looks forward to unlocking this value for its stakeholders."
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: +61 3 8644 1300
Email: peter.bird@asiametresources.com
Tony Manini
Executive Chairman, Asiamet Resources Limited
Telephone: +61 3 8644 1300
Email: tony.manini@asiametresources.com
FlowComms Limited
Sasha Sethi
Telephone: +44 (0) 7891 677 441
Email: Sasha@flowcomms.com
Asiamet Resources Nominated Adviser
RFC Ambrian Limited
Andrew Thomson / Stephen Allen
Telephone: +61 8 9480 2500
Email: Andrew.Thomson@rfcambrian.com / Stephen.Allen@rfcambrian.com [1]
Optiva Securities Limited
Christian Dennis
Telephone: +44 20 3137 1903
Email: Christian.Dennis@optivasecurities.com
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 Zinc Lead Silver Gold Copper
(%) (%) (g/t) (g/t) (%)
BKZ33650-01 43 73 30.0 8.88 2.23 46 0.37 0.35
Including 44 53 9.0 12.03 5.43 94 0.56 0.20
Including 61 70 9.0 12.63 1.20 28 0.15 0.65
BKZ33650-01 78 81 3.0 2.84 1.49 10 NSA NSA
BKZ33650-01 88 89 1.0 20.80 NSA 19 0.10 0.35
Notes: Grade intercepts are calculated as a weighted average grade >=1.0%
Zinc (uncut). True widths are interpreted to be between 80-100% of the
reported lengths, unless otherwise stated. Orientation of the mineralised
domain is estimated to have an azimuth of 340 degrees and a dip of -25
degrees to the northeast.
Figure 1: Location map showing strong zinc in soil geochemistry over the BK
district with prospects & drill collars. To view the graphic, please open
the link here
http://www.asiametresources.com/i/maps/2017-10-11_NR-map-01.jpg [2]
Figure 2: Semi-massive Sphalerite (Zn sulphide) and Galena (Pb sulphide)
mineralisation in BKZ33650-01. The weighted average grade for the interval
61 - 65 metres (4 metre interval) is 14.4% Zn, 1.3% Pb and 34g/t Ag. To view
the graphic, please open the link here
http://www.asiametresources.com/i/photos/2017-10-11_NR-photo-01.jpg [3]
Glossary of Technical Terms
"anomaly or anomalous" something in mineral
exploration that geologists
interpret as deviating from
what is standard, normal, or
expected.
"assay" The laboratory test conducted
to determine the proportion of
a mineral within a rock or
other material. For copper,
usually reported as percentage
which is equivalent to
percentage of the mineral
(i.e. copper) per tonne of
rock.
"azimuth" the "compass direction" refers
to a geographic bearing or
azimuth as measured by a
magnetic compass, in true or
magnetic north.
"bornite" Bornite, also known as peacock
ore, is a copper sulphide
mineral with the formula
Cu5FeS4.
"breccia" Breccia is a rock
classification, comprises
millimetre to metre-scale rock
fragments cemented together in
a matrix, there are many
sub-classifications of
breccias.
"chalcocite" Chalcocite is a copper
sulphide mineral with the
formula Cu2S, and is an
important copper ore mineral.
It is opaque and dark-gray to
black with a metallic luster.
"chalcopyrite" Chalcopyrite is a copper
sulphide mineral with formula
CuFeS2. It has a brassy to
golden yellow colour.
"channel sample" Samples collected across a
mineralised rock exposure. The
channel is typically
orientated such that samples
are collected perpendicular to
the mineralised structure, if
possible.
"chargeability" Chargeability is a physical
property related to
conductivity. Chargeability is
used to characterise the
formation and strength of the
induced polarisation within a
rock, under the influence of
an electric field, suggesting
sulphide mineralisation at
depth.
"CIM" The reporting standard adopted
for the reporting of the
Mineral Resources is that
defined by the terms and
definitions given in the
terminology, definitions and
guidelines given in the
Canadian Institute of Mining,
Metallurgy and Petroleum (CIM)
Standards on Mineral resources
and Mineral Reserves (December
2005) as required by NI
43-101. The CIM Code is an
internationally recognised
reporting code as defined by
the Combined Reserves
International Reporting
Standards Committee.
"covellite" Covellite is a copper sulphide
mineral with the formula CuS.
This indigo blue mineral is
ubiquitous in some copper
ores.
"diamond drilling" A drilling method in which
penetration is achieved
through abrasive cutting by
rotation of a diamond
encrusted drill bit. This
drilling method enables
collection of tubes of intact
rock (core) and when
successful gives the best
possible quality samples for
description, sampling and
analysis of an ore body or
mineralised structure.
"dip" A line directed down the
steepest axis of a planar
structure including a planar
ore body or zone of
mineralisation. The dip has a
measurable direction and
inclination from horizontal.
"g/t" grams per tonne; equivalent to
parts per million ('ppm').
"galena" Galena is the natural mineral
form of lead (II) sulphide,
with formula PbS. It is the
most important ore of lead and
an important source of silver.
It has a silver colour.
"grab sample" are samples of rock material
collected from a small area,
often just a few pieces or
even a single piece of rock
"grabbed" from a face, dump or
outcrop or roughly 2-5kg.
These are common types of rock
samples collected when
conducting mineral
exploration. The sample
usually consists of material
that is taken to be
representative of a specific
type of rock or
mineralisation.
"grade" The proportion of a mineral
within a rock or other
material. For copper
mineralisation this is usually
reported as % of copper per
tonne of rock (g/t).
"hypogene" Hypogene ore processes occur
deep below the earth's
surface, and form deposits of
primary minerals, such as
chalcopyrite and bornite.
"Indicated Resource" An "Indicated Mineral
Resource" is that part of a
Mineral Resource for which
quantity, grade or quality,
densities, shape and physical
characteristics, can be
estimated with a level of
confidence sufficient to allow
the appropriate application of
technical and economic
parameters, to support mine
planning and evaluation of the
economic viability of the
deposit. The estimate is based
on detailed and reliable
exploration and testing
information gathered through
appropriate techniques from
locations such as outcrops,
trenches, pits, workings and
drill holes that are spaced
closely enough for geological
and grade continuity to be
reasonably assumed.
"Induced Polarisation Geophysics" Induced polarisation (IP) is a
geophysical survey used to
identify the electrical
chargeability of subsurface
materials, such as sulphides.
The survey involves an
electric current that is
transmitted into the
subsurface through two
electrodes, and voltage is
monitored through two other
electrodes.
"Inferred Resource" An "Inferred Mineral Resource"
is that part of a Mineral
Resource for which quantity
and grade or quality can be
estimated on the basis of
geological evidence and
limited sampling and
reasonably assumed, but not
verified, geological and grade
continuity. The estimate is
based on limited information
and sampling gathered through
appropriate techniques from
locations such as outcrops,
trenches, pits, workings and
drill holes.
"Intercept" Refers to a sample or sequence
of samples taken across the
entire width or an ore body or
mineralised zone. The
intercept is described by the
entire thickness and the
average grade of
mineralisation.
"lbs" Pounds (measure of weight)
"massive" In a geological sense, refers
to a zone of mineralisation
that is dominated by sulphide
minerals. The
sulphide-mineral-rich material
can occur in centimetre-scale,
meter-scale or in tens of
meters wide veins, lenses or
sheet-like bodies containing
sphalerite, galena, and / or
chalcopyrite etc.
"Measured Resource" A "Measured Mineral Resource"
is that part of a Mineral
Resource for which quantity,
grade or quality, densities,
shape, and physical
characteristics are so well
established that they can be
estimated with confidence
sufficient to allow the
appropriate application of
technical and economic
parameters, to support
production planning and
evaluation of the economic
viability of the deposit. The
estimate is based on detailed
and reliable exploration,
sampling and testing
information gathered through
appropriate techniques from
locations such as outcrops,
trenches, pits, workings and
drill holes that are spaced
closely enough to confirm both
geological and grade
continuity.
"Mineral Resource" A "Mineral Resource" is a
concentration or occurrence of
diamonds, natural solid
inorganic material, or natural
solid fossilised organic
material including base and
precious metals, coal, and
industrial minerals in or on
the Earth's crust in such form
and quantity and of such a
grade or quality that it has
reasonable prospects for
economic extraction. The
location, quantity, grade,
geological characteristics and
continuity of a Mineral
Resource are known, estimated
or interpreted from specific
geological evidence and
knowledge.
"Mineralisation" In geology, mineralisation is
the deposition of economically
important metals (copper,
gold, lead, zin etc) that in
some cases can be in
sufficient quantity to form
mineral ore bodies.
"mlbs" Million pounds (measure of
weight)
"open pit mining" A method of extracting
minerals from the earth by
excavating downwards from the
surface such that the ore is
extracted in the open air (as
opposed to underground
mining).
"outcrop" A section of a rock formation
or mineral vein that appears
at the surface of the earth.
Geologists take direct
observations and samples from
outcrops, used in geologic
analysis and creating geologic
maps. In situ (in place)
measurements are critical for
proper analysis of the geology
and mineralisation of the area
under investigation.
"polymetallic" Three or more metals that may
occur in magmatic,
volcanogenic, or hydrothermal
environments; common base and
precious metals include
copper, lead, zinc, silver and
gold.
"polymict" A geology term, often applied
to breccias or conglomerates,
which identifies the
composition as consisting of
fragments of several different
rock types.
"Preliminary Economic Assessment" NI 43-101 defines a PEA as "a
study, other than a
pre-feasibility study or
feasibility study, which
includes an economic analysis
of the potential viability of
mineral resources".
"sediments" Sedimentary rocks formed by
the accumulation of sediments.
There are three types,
Clastic, Chemical and Organic
sedimentary rocks.
"sequential assays" Sequential copper analysis is
a technique to
semi-quantitatively define the
zonations associated with some
copper deposits. The method is
based on the partial
dissolution behaviour
displayed by the prevalent
copper minerals to solutions
containing sulphuric acid and
sodium cyanide. Results from
sequential analyses can
theoretically determine the
amounts of leachable oxide
minerals, leachable secondary
sulphide minerals, and primary
copper minerals, respectively.
"sphalerite" Sphalerite is a zinc sulphide
in crystalline form but almost
always contains variable iron,
with formula (Zn,Fe)S. It can
have a yellowish to honey
brown or black colour.
"supergene" Supergene ore processes occur
near surface, and form
deposits of secondary
minerals, such as malachite,
azurite, chalcocite,
covellite, digenite, etc.
"surface rock chip samples" Rock chip samples
approximately 2kg in size that
are typically collected from
surface outcrops exposed along
rivers and mountain
ridgelines.
"veins" A vein is a sheet-like or
anastomosing fracture that has
been infilled with mineral ore
(chalcopyrite, covellite etc)
or mineral gangue (quartz,
calcite etc) material, within
a rock. Veins form when
minerals carried by an aqueous
solution within the rock mass
are deposited through
precipitation and infill or
coat the fracture faces.
"volcanics" Volcanic rock such as andesite
or basalt that is formed from
magma erupted from a volcano,
or hot clastic material that
erupts from a volcano and is
deposited as volcaniclastic or
pyroclastics.
ISIN: BM04521V1038
Category Code: DRL
TIDM: ARS
LEI Code: 213800PWJMT1NG28TA88
Sequence No.: 4725
End of Announcement EQS News Service
617639 11-Oct-2017
1: mailto:Oliver.Morse@rfcambrian.com
2: http://public-cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=1c52fb9c3df1a2178658567cdda71e09&application_id=617639&site_id=vwd_london&application_name=news
3: http://public-cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=7544ca08977fff31476149c68b1175ac&application_id=617639&site_id=vwd_london&application_name=news
(END) Dow Jones Newswires
October 11, 2017 02:03 ET (06:03 GMT)
1 Year Asiamet Resources Chart |
1 Month Asiamet Resources Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
