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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 | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.90 | 0.85 | 0.95 | 0.925 | 0.90 | 0.925 | 493,062 | 11:00:10 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Miscellaneous Metal Ores,nec | 0 | -6.93M | -0.0027 | -3.33 | 23.35M |
TIDMARS Asiamet Resources Limited ("ARS") is pleased to report assay results for the final holes drilled as part of the 2015 resource evaluation program at the Beruang Kanan Main ("BKM") copper deposit in Central Kalimantan, Indonesia. This is the final set of results required to complete an update of the BKM Resource. Infill drilling on section lines BKM32500 and BKM32550 within the BK044 zone intersected higher grade copper mineralization and confirmed the continuity of the deposit in this area as anticipated (refer Figure 1). Importantly, a single hole drilled on section line BKM32650 also intersected higher grade mineralization and extended the BKM044 zone to the north. The BKM deposit remains open in this area and will be followed up as part of feasibility study drilling. Hole BKM32550-06 (106.8m end of hole ("EOH")) intersected shallow high grade copper mineralization very similar to that reported in BKM32450-01, 120 meters to the southeast (refer Press Release Wednesday May 13, 2015) before entering a barren post mineral dyke at 10.5 meters. Better results include: BKM32550-06 7.5 meters at 4.11% Cu (from 3.0 meters depth) Assay results for BKM32550-07 (128.7m EOH) identified a broad zone of strong copper mineralization from 10 meters depth, which includes several zones of higher grade mineralization. Better results include: BKM32550-07 92.0 meters at 0.90% Cu (from 10 meters depth) -- Including 9.0 meters at 1.31% Cu (from 32 meters) -- Including 3.0 meters at 3.07% Cu (from 44 meters) -- Including 14.0 meters at 1.15% Cu (from 50 meters) -- Including 20.5 meters at 1.13% Cu (from 68 meters) 5.0 meters at 1.16% Cu (from 107 meters depth) -- Including 2.0 meters at 2.10% Cu (from 107 meters) Hole BKM32500-03 (156.4m EOH) intersected a cumulative 77 meter interval (seven individual intersections) of moderate grade copper mineralization and bottomed in 3.4 meters of copper mineralization assaying 1.45% Cu. Better results include: BKM32500-03 17.1 meters at 1.05% Cu (from 90.9 meters depth) -- Including 10.0 meters at 1.29% Cu (from 92.5 meters) Hole BKM32650-01 (110.0m EOH) is the most northerly hole drilled as part of this program, and intersected a cumulative 52.0 meter interval (four individual intersections) of moderate to high grade copper mineralization. Better results include: BKM32650-01 30.0 meters at 0.82% Cu (from 11.0 meters depth) -- Including 12.0 meters at 1.43% Cu (from 17.0 meters) BKM32650-01 11.0 meters at 1.35% Cu (from 57.0 meters depth) -- Including 5.0 meters at 2.37% Cu (from 63.0 meters) BKM32650-01 7.0 meters at 0.97% Cu (from 85.0 meters depth) -- Including 2.0 meters at 2.17% Cu (from 85.0 meters) A drill hole location plan and a table of full assay results are provided in Figure 1 and Table 1 respectively. A full list of drill hole details is provided in Table 2. Final assays have now been received for all 71 drill holes of the 2015 BKM resource evaluation program. The deposit remains open in several areas drilled as part of this program and the potential for the discovery of additional mineralization has also been identified further west of current drilling where outcrops assaying up to 9.6% copper have been sampled. These areas represent priority targets during the next phase of drilling at BKM. With the final assays received, an update of the Resource Estimate can now be finalized and we anticipate completion shortly. Preliminary results for Phase 1 metallurgical test work are expected in mid-November and the Phase 2 metallurgical program is underway. Three bulk composites from continuous intervals of half drill core were selected from drill holes on section lines BKM32200, BKM32250 and BKM32500 to test the leaching characteristics of the high grade, medium grade and low grade material. Upon receipt of the required permits the bulk samples will be exported to Australia for testing as part of the Preliminary Economic Assessment ("PEA"). Work on the PEA is expected to commence immediately following receipt of the updated Resource estimate. Tony Manini, Asiamet's Chief Executive Officer commented: "Asiamet is very pleased with the results of the drilling program completed at BKM in 2015 and we look forward to receiving and reporting the updated Resource estimate shortly. The combination of excellent copper grades, very shallow mineralization, discrete high grade zones, promising initial metallurgical test work and further growth potential bode well for the project. Focus now moves to the mining studies, detailed metallurgical test work and the various other inputs required to complete the PEA. Scout drill testing of nearby targets will continue. A strong ongoing news flow is anticipated as the various components of the PEA are advanced and the Company continues to execute on its strategy for its Beutong and Jelai assets. We look forward to progressively reporting the results of this intensive program as they come to hand" Table 1: Recent drill intercepts. HOLE ID From To Length Copper (%) Cumulative Cu Mineralized Interval BKM32500-03 13.40 17.65 4.25 0.55 77.0 Meters BKM32500-03 63.30 70.60 7.30 0.78 BKM32500-03 72.60 89.80 17.20 0.50 BKM32500-03 90.90 108.00 17.10 1.05 Including 92.50 102.50 10.00 1.29 BKM32500-03 119.00 122.80 3.80 0.44 BKM32500-03 123.55 147.50 23.95 0.64 BKM32500-03 153.00 156.40 3.40 1.45 BKM32550-06 3.00 10.50 7.50 4.11 11.5 Meters Including 3.00 7.50 4.50 5.88 BKM32550-06 64.50 68.50 4.00 0.47 BKM32550-07 2.10 4.00 1.90 0.35 98.9 Meters BKM32550-07 10.00 102.00 92.00 0.90 Including 32.00 41.00 9.00 1.31 Including 44.00 47.00 3.00 3.07 Including 50.00 64.00 14.00 1.15 Including 68.00 88.50 20.50 1.13 BKM32550-07 107.00 112.00 5.00 1.16 Including 107.00 109.00 2.00 2.10 BKM32650-01 11.00 41.00 30.00 0.83 52.0 Meters Including 17.00 29.00 12.00 1.43 BKM32650-01 49.00 53.00 4.00 0.34 BKM32650-01 57.00 68.00 11.00 1.35 Including 63.00 68.00 5.00 2.37 BKM32650-01 85.00 92.00 7.00 0.97 Including 85.00 87.00 2.00 2.17 BKM31800-03 No Significant Assays Notes: Grade intercepts are calculated as a weighted average grade greater than or equal to 0.3% copper (uncut). True widths are interpreted to be between 80-100% of the reported lengths, unless otherwise stated. Figure 1: Location map showing section lines and drill collars To view Figure 1, click onto the URL below or copy and paste into your browser: http://www.fscwire.com/sites/default/files/NR/792/8410_AsiametFig1Oct142015.jpg Table 2: Updated Drill Hole Details Hole ID Easting Northing RL Depth Azi Dip Status Assays Final Assays BKM31550-01 768877.2 9931550.0 428.0 75.0 270 -60 Completed Received Final Assays BKM31550-02 769078.3 9931550.0 379.1 70.4 270 -60 Completed Received Final Assays BKM31650-01 768684.3 9931647.4 403.7 81.9 270 -60 Completed Received Final Assays BKM31650-02 768766.2 9931653.3 435.6 81.3 270 -60 Completed Received Final Assays BKM31650-03 768824.1 9931652.5 427.2 69.3 270 -60 Completed Received Final Assays BKM31650-04 768883.2 9931653.2 426.0 72.6 270 -60 Completed Received Final Assays BKM31650-05 768999.3 9931648.3 408.9 81.6 270 -60 Completed Received Final Assays BKM31650-06 769093.6 9931649.3 358.7 90.2 270 -60 Completed Received Final Assays BKM31750-01 769085.8 9931753.1 375.6 75.1 270 -60 Completed Received Final Assays BKM31750-02 769001.2 9931758.6 400.5 85.0 270 -60 Completed Received Final Assays
(MORE TO FOLLOW) Dow Jones Newswires
October 14, 2015 02:00 ET (06:00 GMT)
BKM31750-03 768950.0 9931764.0 418.9 75.0 270 -60 Completed Received Final Assays BKM31750-04 768892.2 9931750.8 419.1 75.3 270 -60 Completed Received Final Assays BKM31750-05 768839.9 9931751.0 417.1 90.3 270 -60 Completed Received Final Assays BKM31750-06 768786.9 9931756.6 402.1 90.4 270 -60 Completed Received Final Assays BKM31750-07 768706.0 9931746.2 394.8 90.2 270 -60 Completed Received Final Assays BKM31750-08 768656.7 9931753.0 388.8 88.1 270 -60 Completed Received Final Assays BKM31750-09 769202.6 9931750.0 333.6 56.3 270 -60 Completed Received Final Assays BKM31800-01 769008.5 9931799.9 401.7 85.8 270 -60 Completed Received Final Assays BKM31800-02 769069.4 9931800.0 375.2 80.1 270 -60 Completed Received Final Assays BKM31800-03 769119.9 9931799.0 353.5 65.8 270 -60 Completed Received Final Assays BKM31850-01 769201.6 9931850.0 339.0 75.7 270 -60 Completed Received Final Assays BKM31850-02 769106.0 9931850.0 377.4 69.6 270 -60 Completed Received Final Assays BKM31850-03 769019.1 9931850.0 426.0 101.1 270 -60 Completed Received Final Assays BKM31850-04 768900.9 9931850.0 415.3 97.7 270 -60 Completed Received Final Assays BKM31850-05 768797.0 9931850.1 430.1 75.5 270 -60 Completed Received Final Assays BKM31850-06 769157.2 9931850.0 318.0 50.0 270 -60 Completed Received Final Assays BKM31850-07 769060.5 9931850.0 351.0 46.6 270 -60 Completed Received Final Assays BKM31950-01 769094.6 9931950.0 380.5 75.2 270 -60 Completed Received Final Assays BKM31950-02 768991.0 9931950.0 417.4 100.9 270 -60 Completed Received Final Assays BKM31950-03 768888.0 9931950.0 447.9 75.0 270 -60 Completed Received Final Assays BKM31950-04 768779.0 9931950.0 462.4 75.0 270 -60 Completed Received Final Assays BKM32050-01 768702.3 9932050.0 485.2 71.6 270 -60 Completed Received Final Assays BKM32050-02 768854.6 9932050.0 441.1 104.3 270 -60 Completed Received Final Assays BKM32050-03 768998.2 9932050.0 397.8 70.2 270 -60 Completed Received Final Assays BKM32150-01 768970.3 9932150.0 410.9 100.5 270 -60 Completed Received Final Assays BKM32150-02 768922.1 9932150.0 427.0 110.1 270 -60 Completed Received Final Assays BKM32150-03 768828.5 9932150.0 458.4 120.0 270 -60 Completed Received Final Assays BKM32150-04 768729.5 9932150.0 479.5 100.3 270 -60 Completed Received Final Assays BKM32200-01 768835.2 9932201.1 470.9 110.2 270 -60 Completed Received Final Assays BKM32200-02 768901.0 9932200.9 463.2 110.2 270 -60 Completed Received Final Assays BKM32200-03 768949.7 9932200.8 426.0 111.0 270 -60 Completed Received Hole ID Easting Northing RL Depth Azi Dip Status Assays Final Assays BKM32250-01 768731.7 9932249.9 504.1 84.3 270 -60 Completed Received Final Assays BKM32250-02 768836.9 9932250.0 483.3 110.8 270 -60 Completed Received Final Assays BKM32250-03 768881.0 9932249.9 457.6 101.9 270 -60 Completed Received Final Assays BKM32250-04 768973.8 9932249.9 402.9 104.3 270 -60 Completed Received Final Assays BKM32350-01 768999.7 9932350.0 386.5 45.7 270 -60 Completed Received Final Assays BKM32350-02 768896.7 9932350.0 447.3 125.9 270 -60 Completed Received Final Assays BKM32350-03 768839.3 9932350.0 460.0 143.1 270 -60 Completed Received Final Assays BKM32350-04 768737.7 9932350.1 489.6 111.5 270 -60 Completed Received Final Assays BKM32350-05 768666.0 9932350.1 517.0 124.7 270 -60 Completed Received Final Assays BKM32450-01 768849.2 9932443.7 422.4 92.4 270 -60 Completed Received Final Assays BKM32450-02 768745.4 9932452.6 442.5 70.6 270 -60 Completed Received Final
(MORE TO FOLLOW) Dow Jones Newswires
October 14, 2015 02:00 ET (06:00 GMT)
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