Asiamet Resources Limited Further Re Feasibility Study Update

 
TIDMARS 
 
 
   Asiamet Drilling Hits Continuous Higher Grade Copper Mineralization at 
BKM 
 
   Asiamet Resources Limited ("ARS" or the "Company") is pleased to 
announce that Resource infill and extension drilling at the Beruang 
Kanan Main ("BKM") copper deposit in Central Kalimantan, Indonesia 
continues to display excellent continuity of shallow high grade copper 
mineralization within the BK058 Zone. 
 
   A total 33 holes for 3400 meters of diamond core drilling have now been 
completed and three holes are currently in progress. The results from 
five holes are reported below. Four holes were drilled in the southern 
part of the BKM deposit and one hole at the far north end.  A further 87 
holes/7700 meters are planned. 
 
   Hole BKM31775-01 (141m End of hole 'EOH') was collared 25m north of 
BKM31750-02 (85.0m EOH) which intersected a broad zone of high grade 
near surface copper assaying 54 meters at 1.10% Cu (from 16.5 meters 
depth) including 16 meters at 1.67% Cu (from 17.5 meters) refer ARS 
Press Release May 13, 2015.  Assay results confirm the high grades 
within BK058 Zone and the continuity of the mineralization intersected 
in BKM31750-02.  Better results include: 
 
   BKM31775-01            31.0 meters at 1.57% Cu (from 12.0 meters) 
 
 
   -- Including 5.0 meters at 4.74% Cu (from 16.0 meters) 
 
 
   --            Includes 2.0 meters at 8.48% Cu (from 17.0 meters) 
 
 
   -- Including 2.0 meters at 2.76% Cu (from 22.0 meters) 
 
 
   -- Including 2.0 meters at 3.19% Cu (from 28.0 meters) 
 
 
   13.0 meters at 1.16% Cu (from 128.0 meters) 
 
 
   --  Including 3.0 meters at 2.27% Cu (from 128.0 meters) 
 
 
   -- Including 3.0 meters at 2.24% Cu (from 133.0 meters) 
 
 
   Drill hole BKM31755-01 (168m EOH) is a scissor hole to BKM31750-03 (75m 
EOH) which intersected high grade near surface copper mineralization, 
including 5.0 meters at 1.60% Cu (from 8.0 meters) and 8.0 meters at 
1.16% Cu (from 15.0 meters), refer ARS Press Release June 11, 2015. 
Assay results from drill hole BKM31755-01 confirm the style, width, and 
continuity of mineralization intersected previously and the high grade 
tenor of the BK058 Zone. Better results include: 
 
   BKM31755-01            55.1 meters at 0.74% Cu (from 7.9 meters) 
 
 
   -- Including 12.0 meters at 1.08% Cu (from 12.0 meters) 
 
 
   -- Including 14.0 meters at 1.10% Cu (from 49.0 meters) 
 
 
   Infill holes BKM31700-06 (91m EOH) and BKM31700-07 (74m EOH) were 
drilled west of the BK058 Zone and confirm continuous shallow, moderate 
grade covellite - chalcocite copper mineralization in quartz stockwork 
and pyrite veins.  Better results include: 
 
   BKM31700-06            19.0 meters at 0.81% Cu (from 3.0 meters) 
 
 
   -- Including 3.0 meters at 2.86% Cu (from 14.0 meters) 
 
 
   12.0 meters at 0.50% Cu (from 29.0 meters) 
 
   14.0 meters at 0.47% Cu (from 65.0 meters) 
 
   BKM31700-07            31.0 meters at 0.60% Cu (from 7.5 meters) 
 
 
   --  Including 2.0 meters at 2.98% Cu (from 28.5 meters) 
 
 
   Delineation drilling at BK058 Zone continues to confirm the thickness 
and continuity of near surface higher grade copper mineralization and it 
is anticipated that these results will further reduce the already low 
strip ratio of the potential open pit in the southern part of the BKM 
deposit. 
 
   Drilling in the northern part of the BKM deposit is focused on upgrading 
Resource confidence from Inferred to Indicated and Measured categories 
(NI43-101), and fully defining the northern limit of the mineralization. 
Hole BKM32705-01 (90.1m EOH) was collared on the most northern section 
line and intersected a broad zone of moderate to high grade copper 
mineralization that extends 20 meters outside of the resource envelope. 
The hole was terminated in strong copper mineralization at 90.1 meters 
after reaching the depth capacity of the Company's RB drill rig, with 
the final 1.1-meter sample interval assaying 4.38% copper. Better 
results include: 
 
   BKM32705-01            36.1 meters at 0.64% Cu (from 54.0 meters) 
 
 
   -- Including 4.0 meters at 2.25% Cu (from 69.0 meters) 
 
 
   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: 
 
   "Resource evaluation drilling at BKM continues to meet or exceed our 
expectations. The grade and continuity of mineralization appears to be 
very consistent and we are seeing higher grade mineralization shallower 
than anticipated within the BK058 zone. A lower strip ratio zone like 
BK058, coupled with higher grades has the potential to lower operating 
costs early in the mine life and further enhance the already strong 
economics of the BKM project as outlined in the preliminary economic 
assessment. The feasibility study on BKM is ramping up with mine 
engineering and infrastructure studies about to commence in addition to 
the Resource drilling, metallurgy, geo-technical and environmental 
studies currently in progress. We anticipate a strong news flow over the 
coming months and look forward to progressively updating all 
stakeholders as the study activity ramps up and corporate initiatives 
are advanced towards key milestones". 
 
   Table 1: Recent drill intercepts. 
 
 
 
 
 
   HOLE ID      From    To     Length    Copper (%)    Cumulative Cu Mineralized Interval 
BKM31700-06        3     22        19          0.81              52.0 Meters 
 Including        14     17         3          2.86 
BKM31700-06       29     41        12          0.50 
BKM31700-06       50     54         4          0.45 
BKM31700-06       59     62         3          0.44 
BKM31700-06       65     79        14          0.47 
BKM31700-07      7.5   38.5        31          0.60              23.1 Meters 
 Including      28.5   30.5         2          2.98 
BKM31755-01      7.9   63.0      55.1          0.74              75.1 Meters 
 Including      12.0   24.0      12.0          1.08 
 Including      49.0   63.0      14.0          1.10 
BKM31755-01     78.0   80.0       2.0          0.44 
BKM31755-00     97.0  113.0      16.0          0.58 
BKM31755-01    119.0  121.0       2.0          0.50 
BKM31775-01     12.0   43.0      31.0          1.57              77.0 Meters 
 Including      16.0   21.0       5.0          4.74 
  Includes      17.0   19.0       2.0          8.48 
 Including      22.0   24.0       2.0          2.76 
 Including      28.0   30.0       2.0          3.19 
BKM31775-01     46.0   57.0      11.0          0.54 
BKM31775-01     60.0   69.0       9.0          0.47 
BKM31775-01     79.0   92.0      13.0          0.45 
BKM31775-01    128.0  141.0      13.0          1.16 
 Including     128.0  131.0       3.0          2.27 
 Including     133.0  136.0       3.0          2.24 
BKM32705-01      8.0    9.0       1.0          0.67              49.1 Meters 
BKM32705-01     14.0   23.0       9.0          0.21 
BKM32705-01     47.0   50.0       3.0          0.37 
BKM32705-01     54.0   90.1      36.1          0.64 
 Including      69.0   73.0       4.0          2.25 
 Including      89.0   90.1       1.1          4.38 
 
 
   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/792/12597_ARS.png 
 
   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#2035562 
 
 
  http://www.asiametresources.com 
 

(END) Dow Jones Newswires

August 17, 2016 02:00 ET (06:00 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.