Asiamet Resources Limited Asiamet Completes Bkm Drilling, Extends High Grade Copper To Depth In Bk044 Zone

 
TIDMARS 
 
 
   For Immediate Release   London AIM 
 
   04 May 2017     Symbol: ARS 
 
 
 
   Vancouver, British Columbia 
 
   Asiamet Completes BKM Drilling, Extends High Grade Copper to Depth in 
BK044 Zone 
 
   Asiamet Resources Limited ("ARS" or the "Company") is pleased to advise 
that Resource definition drilling as part of feasibility studies on the 
Beruang Kanan Main ("BKM") copper deposit in Central Kalimantan, 
Indonesia has intersected thick depth extensions of copper 
mineralisation in the BK044 Zone. 
 
 
   -- Drilling on section line BKM32400 intersected thick intervals of moderate 
      to high-grade copper mineralisation extending more than 100 metres below 
      the base of the conceptual open pit design, as proposed in the 
      Preliminary Economic Assessment ("PEA"). 
 
   -- Future drilling is required along strike (north-south) and laterally to 
      establish continuity of this deeper domain and determine the potential 
      for extending the open-pit to capture this mineralization. 
 
   -- Resource definition drilling continues to highlight excellent grade 
      continuity within the BKM deposit. 
 
 
   The Infill and Expansion drilling program at BKM has finished, a total 
122 holes for 12480.9 metres of diamond core drilling have been 
completed.  ARS expects further pending assays will be received over the 
next month, and work has already commenced on the Mineral Resource 
update. 
 
   Results from eleven holes are reported below, with better results from 
the most recent drilling including: 
 
   BKM32400-10  37.1 Metres at 1.10% Cu (from 3.4 Metres) 
 
 
   -- Including 17.0 Metres at 1.54% Cu (from 5.5 Metres) 
 
   -- Including 7.0 Metres at 1.35% Cu (from 25.5 Metres) 
 
 
   5.0 Metres at 1.12% Cu (from 100.5 Metres) 
 
   33.0 Metres at 1.11% Cu (from 110.5 Metres) 
 
 
   -- Including 2.0 Metres at 2.44% Cu (from 123.5 Metres) 
 
   -- Including 11.0 Metres at 2.04% Cu (from 131.5 Metres) 
 
 
   47.0 Metres at 0.64% Cu (from 147.5 Metres) 
 
 
   -- Including 16.0 Metres at 1.32% Cu (from 149.5 Metres) 
 
 
   19.35 Metres at 1.46% Cu (from 204.5 Metres) 
 
 
   -- Including 11.35 Metres at 2.14% Cu (from 212.5 Metres) 
 
 
   5.0 Metres at 0.56% Cu (from 229.0 Metres) 
 
   BKM32440-01  34.5 Metres at 0.74% Cu (from 145.5 Metres) 
 
   BKM32400-07  18.0 Metres at 1.60% Cu (from 13.0 Metres) 
 
 
   -- Including 3.0 Metres at 2.78% Cu (from 15.0 Metres) 
 
   -- Including 4.0 Metres at 2.83% Cu (from 27.0 Metres) 
 
 
   BKM32500-08  35.0 Metres at 0.75% Cu (from 22.0 Metres) 
 
 
   -- Including 5.0 Metres at 1.34% Cu (from 50.0 Metres) 
 
 
   BKM32650-05  20.0 Metres at 0.95% Cu (from 86.0 Metres) 
 
 
   -- Including 6.0 Metres at 2.22% Cu (from 87.0 Metres) 
 
 
   Infill hole BKM32400-06 (55.0m End of Hole 'EOH') was drilled 
approximately 50m east of BKM32400-05 (127.3m EOH), but failed to 
intersect significant copper mineralization and closes off the 
mineralization to the east.  Infill holes BKM32400-07 (91.2m EOH) and 
BKM32400-08 (75.0m EOH) were drilled approximately 50m and 100m west of 
metallurgy drill hole BKM32400-02, respectively. 
 
   Both holes intersected broad zones of chalcocite - covellite 
mineralization, with discrete high grade intervals.  Infill holes 
BKM32400-09 (80.0m EOH) and BKM32400-11 (70.6m EOH) were drilled 
approximately 50m and 100m west of BKM32400-08, respectively.  Both 
holes failed to intersect significant copper mineralization, and have 
closed off the deposit to the west in this area.  Infill hole 
BKM32400-10 was extended to deeper levels to test the spatial continuity 
of mineralisation intersected at >175m vertical depth in historic drill 
hole BKD03-01 (refer ARS Release February 19, 2013).  BKM32400-10 
intersected moderate to high grade chalcocite - covellite mineralization 
to greater than 200m depth, well beyond the BKM PEA conceptual open pit 
design. 
 
   Quality control drill hole BKM32440-01 (79.5m EOH) is a scissor hole to 
BK032, which intersected 54.5m @ 0.73% Cu from 17.8m (refer ARS Press 
Releases February 19, 2013).  BKM32440-01 was drilled east to confirm 
the orientation of mineralization, and intersected similar style and 
grade mineralization to that in BK032. 
 
   BKM32500-08 (109.8m EOH) drilled as a quality control twin hole to 
BKM32500-01 which reported 44m @ 0.91% Cu from 25.0m, and 20.0m @ 0.52% 
Cu from 78.0m (refer ARS Press Releases October 8, 2015), successfully 
confirmed the moderate and high grade copper mineralization in 
BKM32500-01. 
 
   Infill hole BKM32650-05 (126m EOH) was drilled approximately 50m east of 
BKM32650-04 (140m EOH) and intersected moderate to high grade 
chalcocite-covellite mineralization at deeper levels.   Infill hole 
BKM32660-02 (100.5m EOH) was drilled approximately 50m west of 
BKM32660-01 and intersected moderate to locally high grade 
chalcocite-covellite mineralization.   These are the final two holes to 
report on section line BKM325650. 
 
   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: 
 
   "Another significant milestone achieved with the completion of the BKM 
Infill and Expansion drilling program.  BKM continues to impress as our 
confidence in the continuity and grade of copper mineralisation from 
north to south, and particularly with depth, increases.  Recent drilling 
at BK044 Zone has yielded very encouraging results with broad intervals 
of high grade copper mineralization intersected in a deeper mineral 
domain extending well beyond the limits of the BKM PEA conceptual 
open-pit mine design. The potential for a deeper pit and longer mine 
life will be investigated as part of the ongoing feasibility study.  We 
look forward to updating the market in the near future with regards to 
pending assays.  The primary objective of this drilling campaign is the 
upgrading of Inferred Resources to higher confidence Measured and 
Indicated Resources by completing this closely spaced grid-drilling 
program, and we are very pleased with the results to date." 
 
   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, Vice Chairman and CEO, Asiamet Resources Limited 
 
   For further information, please contact: 
 
   -Ends- 
 
   Peter Bird, Vice 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 
BKM32400-05      3.0   25.3      22.3          0.56                           57.1 Metres 
Including       11.0  18.00      7.00          1.29 
BKM32400-05     32.5   38.0       5.5          0.21 
BKM32400-05     42.0   64.0      22.0          0.44 
Including       48.0   50.0       2.0          1.18 
Including       61.0   63.0       2.0          1.72 
BKM32400-05     74.0   77.0       3.0          0.48 
BKM32400-05    123.0  127.3       4.3          0.58 
BKM32400-06                   No Significant Assays                                   NIL 
BKM32400-07     13.0   31.0      18.0          1.60                            47.0Metres 
Including       15.0   18.0       3.0          2.78 

Including       27.0   31.0       4.0          2.83 
BKM32400-07     36.0   60.0      24.0          0.28 
BKM32400-07     65.0   67.0       2.0          0.42 
BKM32400-07     74.0   77.0       3.0          0.25 
BKM32400-08     24.0   74.0      50.0          0.50                           50.0 Metres 
Including       52.0   64.0      12.0          0.97 
BKM32400-09   No Significant Assays                  NIL 
 
 
   Notes: Grade intercepts are calculated as a weighted average grade >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) 
 
 
 
 
 
  HOLE ID       From    To     Length    Copper (%)    Cumulative Cu Mineralised Interval 
BKM32400-10      3.4   40.5     37.10          1.10                          165.5 Metres 
Including        5.5  22.50     17.00          1.54 
Including       25.5   32.5      7.00          1.35 
BKM32400-10     65.7   84.7     19.00          0.33 
BKM32400-10    100.5  105.5      5.00          1.12 
BKM32400-10    110.5  143.5     33.00          1.11 
Including      123.5  125.5      2.00          2.44 
Including      131.5  142.5     11.00          2.04 
BKM32400-10    147.5  194.5     47.00          0.64 
Including      149.5  165.5     16.00          1.32 
BKM32400-10    204.5  223.9     19.35          1.46 
Including      212.5  223.9     11.35          2.14 
BKM32400-10    229.0  234.0      5.00          0.56 
BKM32400-11                   No Significant Assays                                   NIL 
BKM32440-01     56.5     67      10.5          0.55                           57.0 Metres 
BKM32440-01     77.5   81.5         4          0.29 
BKM32440-01     92.5   94.5       2.0          0.39 
BKM32440-01    133.5  139.5       6.0          0.69 
Including      137.5  139.5       2.0          1.47 
BKM32440-01    145.5  180.0      34.5          0.74 
Including      156.5  159.5       3.0          1.12 
Including      163.5  171.5       8.0          0.84 
Including      175.5  178.8       3.3          1.13 
 
 
   Notes: Grade intercepts are calculated as a weighted average grade >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) 
 
 
 
 
 
  HOLE ID       From    To     Length    Copper (%)    Cumulative Cu Mineralised Interval 
BKM32400-10      3.4   40.5     37.10          1.10                          165.5 Metres 
Including        5.5  22.50     17.00          1.54 
Including       25.5   32.5      7.00          1.35 
BKM32400-10     65.7   84.7     19.00          0.33 
BKM32400-10    100.5  105.5      5.00          1.12 
BKM32400-10    110.5  143.5     33.00          1.11 
BKM32500-08        6     12       6.0          0.70                           85.8 Metres 
BKM32500-08       22     57      35.0          0.75 
Including       40.0   44.0       4.0          0.89 
Including       50.0   55.0       5.0          1.34 
BKM32500-08     61.0   71.0      10.0          0.25 
BKM32500-08     75.0  109.8      34.8          0.43 
BKM32650-05     49.0   55.0       6.0          0.56                           44.5 Metres 
BKM32650-05     60.0   65.0       5.0          0.41 
BKM32650-05     86.0  106.0      20.0          0.95 
Including       87.0   93.0       6.0          2.22 
BKM32650-05    110.0  123.5      13.5          0.56 
BKM32660-02        3     24      21.0          0.27                           53.0 Metres 
BKM32660-02       30     62      32.0          0.46 
 
 
   Notes: Grade intercepts are calculated as a weighted average grade >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/NR/792/16432_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

May 04, 2017 02:00 ET (06:00 GMT)

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