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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 | |
---|---|---|---|---|---|---|---|---|---|---|
0.075 | 7.32% | 1.10 | 1.05 | 1.15 | 1.125 | 1.025 | 1.025 | 14,964,906 | 16:23:20 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Miscellaneous Metal Ores,nec | 0 | -6.93M | -0.0027 | -4.07 | 28.53M |
TIDMARS VANCOUVER, British Columbia, July 19, 2017 -- Systematic mapping and rock chip sampling was recently completed by Asiamet Resources Limited ("Asiamet" or the "Company") in the northern part of the Beruang Kanan West ("BKW") prospect in Central Kalimantan, Indonesia. BKW is located approximately 1km west of Asiamet's core Beruang Kanan Main ("BKM") Copper Project where bankable feasibility studies are well advanced. Results received to date at BKW confirm a copper in soil anomaly in the northern part of BKW is associated with a zone of quartz-chalcocite-bornite veins hosted in a polymict breccia (Figure 1 http://ww4.fscwire.com/sites/default/files/NR/792/17752_ARSING1.png ). Highlights from this recent work include: -- A rock grab sample collected from a 30-cm wide quartz -sulphide vein cutting sericite altered breccia assayed 26.1% Copper and 57.1g/t Silver -- Approximately 200m west is a sericite altered breccia cut by quartz-bornite-chalcocite-pyrite veins, with individual rock chip grab samples assaying up to 4.1% Copper. Discovery of these copper sulphide bearing outcrops within a zone of mineralised quartz veins covers 600m x 150m in the northern part of BKW and overlaps with a small portion of the broad copper in soil anomaly delineated at BKW. There were 147 rock chip grab samples collected and a summary of the significant assays from this program are detailed in Table 1. The true width and thickness of the high-grade copper mineralisation has not yet been determined and follow up mapping and sampling will be undertaken. The location and style of the BKW mineralisation is similar to that identified at BKM and represents a priority target for drill testing. The mapping area is shown on the project location map in Figure 2 http://ww4.fscwire.com/sites/default/files/NR/792/17752_ARSING2.png . Asiamet geologists will soon commence mapping and sampling the largest and strongest copper in soil anomaly at BKW measuring 1.7km x 1km, with the goal of defining near surface copper mineralisation for immediate drill testing. Peter Bird, Asiamet's Chief Executive Officer Commented "Over the past three years the team at Asiamet have rapidly advanced a new copper discovery at BKM from early exploration through to feasibility stage. Looking forward we are now focused on completing the feasibility study with the objective of then moving this asset through to the development phase. "As previously highlighted, the BKM discovery is not an isolated occurrence but rather the first prospect with defined Resources within a large, approximately 15sqkm area, of anomalous copper mineralisation in rocks and soils. These recent results from the northern part of BKW coupled with the fact that the mineralisation is similar in style to BKM highlights the significant potential for the discovery of additional copper mineralisation that exists in the greater BK area. "This area and any others generated from ongoing mapping and sampling at BKW and Beruang Kanan South ('BKS') represent high priority drill targets for testing over the coming months. Any targets with potential to add mine life and enhance the already attractive economics (outlined in the PEA) of BKM will be rapidly advanced in order to achieve initial Resource status. We look forward to reporting the results of this exciting exploration work over the coming months" Table 1: Rock chip grab sample results from northern BKW surface sampling program Interval Rock Sample Cu Ag Location Sample Type No (ppm) (ppm) Pb (ppm) Zn (ppm) BKM-NW Grab Outcrop 111107 20 0.60 797 2670 BKM-NW Grab Outcrop 111108 66 <0.5 31 4250 BKM-NW Grab Outcrop 111112 90 1.00 237 1450 BKM-NW Grab Outcrop 111123 32 9.40 3260 327 BKM-NW Grab Outcrop 111127 702 0.70 1580 863 BKM-NW Grab Outcrop 111149 8160 10.80 30 6070 BKW Grab Outcrop 111165 214 <0.5 386 1550 BKW Grab Outcrop 111169 193 1.10 156 1860 BKW Grab Outcrop 111175 70 0.70 394 1110 BKW Grab Outcrop 111177 48 0.70 344 5890 BKW Grab Outcrop 111181 2150 5.10 194 1120 BKW Grab Outcrop 111184 2140 2.20 174 58 BKW Grab Outcrop 111194 1390 <0.5 260 795 BKW Grab Outcrop 111224 63 <0.5 1440 3210 BKW Grab Outcrop 111231 40700 17.30 55 181 BKW Grab Outcrop 111232 13700 6.70 129 77 BKW Grab Outcrop 111233 1480 1.50 46 67 BKW Grab Outcrop 111238 261000 56.60 88 2220 BKW Grab Outcrop 111239 23800 7.00 41 191 BKW Grab Outcrop 111240 78 <0.5 178 1310 BKW Grab Outcrop 111246 276 <0.5 746 1440 BKW Grab Outcrop 111268 143 1.20 1690 674 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 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. You may also view the original graphics at the following location: Figure 1: http://ww4.fscwire.com/sites/default/files/NR/792/17752_ARSING1.png Rock chip grab samples from northern part of BKW assayed 26.1% Cu (Left) and 4.1% Cu (Right). Figure 2: http://ww4.fscwire.com/sites/default/files/NR/792/17752_ARSING2.png Location map showing Cu in Soils in the BK District. Coincident Cu in soil and rock chip anomalies occur at both BKW prospect and BKM copper deposit, with similar styles of copper mineralisation in both areas. To view this press release as a PDF file, click onto the following link: public://news_release_pdf/Asiamet07192017.pdf http://ww4.fscwire.com/sites/default/files/news_release_pdf/Asiamet07192017.pdf 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
July 19, 2017 06:08 ET (10:08 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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