Asiamet Resources Limited Asiamet Feasibility Drilling Confirms High Grade Copper Mineralization.

 
TIDMARS 
 
 
   Asiamet Resources Limited ("ARS" or the "Company") is pleased to 
announce that Resource infill and extension drilling being undertaken as 
part of the feasibility study on the Beruang Kanan Main ("BKM") copper 
deposit in Central Kalimantan, Indonesia continues to intersect high 
grade copper mineralization in the southern part of deposit and has 
confirmed good continuity of higher grades previously reported within 
the BK058 Zone. 
 
   Four drill rigs are operational with 25 holes/2558 meters of diamond 
core drilling completed to date and four holes currently in progress. 
Five large diameter holes collecting bulk samples for copper leaching 
test work have also been completed with an additional 12 holes to 
follow. 
 
   Assay results have been received for three infill holes drilled to 
increase Resource confidence and one hole drilled to extend the BKM 
Resource eastward. Shallow high grade covellite-chalcocite copper 
mineralization very similar in style to that reported previously in 
drill holes BKM31850-02 (11m at 2.96% Cu, including 2 meters at 9.26% Cu, 
from 6 meters. Refer ARS Press Release August 26, 2015) and 
BK058-01(64.9m at 1.24% Cu, including 9 meters at 7.35% Cu, from 11.7 
meters. Refer ARS Press Release August 22, 2013) was intersected in all 
three holes drilled within the BK058 Zone. 
 
   Better results include: 
 
 
 
 
BKM31700-02  12.0 meters at 0.93% Cu (from 1 meter) 
 
BKM31700-03  5.0 meters at 1.80% Cu (from 10.5 meters) 
 
             22.0 meters at 1.07% Cu (from 21 meters) 
 
              -- Including 3 meters at 5.42% Cu (from 21 meters) 
 
             6.2 meters at 1.06% Cu (from 102 meters) and hole 
              terminated in 1.2% Cu 
 
BKM31700-04  43.0 meters at 1.16% Cu (from 15 meters) 
 
              -- Including 8 meters at 2.52% Cu (from 23 meters) 
 
              -- Including 13 meters at 1.60% Cu (from 38 meters) 
 
 
   The first hole on section line BKM31700 (110m End of hole) was drilled 
outside the BKM Resource and intersected moderate grade mineralization 
from near surface, confirming copper mineralization continues eastward. 
Drilling continues to confirm continuity and extend copper 
mineralization in the BK058 Zone. Five additional holes have also been 
completed on this line and assays are expected shortly. 
 
   Consistent intersections of strong copper mineralization grading 1-2% 
and above so close to surface is considered to be highly positive for 
the BKM project, as is the extension of mineralization beyond the 
current Resource envelope. This shallow higher grade mineralization is 
easily accessible for early mining and has the potential to further 
improve the very low mining strip ratio generated in the BKM Preliminary 
Economic Assessment (1.23:1). Lower strip ratios would be expected to 
result in lower mining costs and enhanced project economics. Drilling is 
continuing to assess this opportunity. 
 
   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: 
 
   "The BKM deposit feasibility study drilling program is off to a flying 
start with these first results providing early confirmation of 
continuous shallow, high grade mineralization at the BK058 Zone. This 
presents Asiamet with an opportunity to assess selective mining and 
scheduling of this higher grade mineralization early in the mine life, 
potentially enhancing project economics and shortening the capital 
payback period for the project. As the momentum of the feasibility study 
builds over the coming months, Asiamet looks forward to reporting the 
results from ongoing drilling, metallurgical testing, mining, 
infrastructure and environmental studies" 
 
   Table 1: Recent drill intercepts. 
 
 
 
 
 
   HOLE ID      From    To     Length    Copper (%)    Cumulative Cu Mineralized Interval 
BKM31700-01      1.8   33.0      31.2          0.29              31.2 Meters 
 Including       1.8    7.0       5.2          0.50 
 Including      11.0   18.0       7.0          0.34 
BKM31700-02      1.0   73.2      72.2          0.38              72.2 Meters 
 Including       1.0   13.0      12.0          0.93 
 Including      19.0   21.0       2.0          0.67 
BKM31700-03     10.5   15.5       5.0          1.80              50.5 Meters 
BKM31700-03     21.0   43.0      22.0          1.07 
 Including      21.0   24.0       3.0          5.42 
BKM31700-03     47.0   58.5      11.5          0.30 
BKM31700-03     66.2   72.0       5.8          0.41 
BKM31700-03    102.0  108.2       6.2          1.06 
BKM31700-04     15.0   58.0      43.0          1.16              49.0 Meters 
 Including      23.0   31.0       8.0          2.52 
 Including      38.0   51.0      13.0          1.60 
BKM31700-04     95.0  101.0       6.0          0.69 
 
 
   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/NR/792/12220_asiametimage.jpg 
 
   Figure 1: Location map showing section lines and drill collars 
 
   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. 
 
   This announcement is distributed by NASDAQ OMX Corporate Solutions on 
behalf of NASDAQ OMX 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 
 
   HUG#2029820 
 
 
  http://www.asiametresources.com 
 

(END) Dow Jones Newswires

July 21, 2016 02:02 ET (06:02 GMT)

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