Asiamet Reports Further High Grade Copper Mineralization at BKM

VANCOUVER, BC / ACCESSWIRE / September 15, 2015 / Asiamet Resources Limited (“ARS” or the “Company”) is pleased to announce that recent drilling as part of the Resource evaluation program in progress on the Beruang Kanan Main (“BKM”) copper deposit in Central Kalimantan, Indonesia has identified a second zone of higher grade copper mineralization within the BKM Resource. The delineation of these two shallow, higher grade zones is expected to have a very positive impact on the BKM project economics.

Assay results were received for an additional nine holes drilled to increase confidence and expand the BKM Resource. In total, 66 holes and 5605 meters of the planned 80 hole/ 6500 meter resource evaluation drilling program have now been completed and two holes are currently in progress.

Higher grade copper mineralization has now been identified in two separate parts of the BKM deposit, namely the northern BK044 Zone and the southern BK058 Zone (refer Figure 1). Within the BK044 Zone, hole BKM32350-02 (125.9m end of hole (“EOH”)) intersected shallow, high grade copper mineralization very similar to that reported previously to the northwest in hole BKM32450-01 (refer ARS Press Release Wednesday May 13, 2015) and southwest in hole BK045 (refer ARS Press Release Monday June 10, 2013). Better results include:

BKM32350-02 35.0 meters at 1.73% Cu, (from 20 meters depth)

– Including 11 meters at 3.49 Cu (from 20 meters)
– Includes 2 meters at 10.15% Cu (from 20 meters)

BKM32350-02 14.0 meters at 1.42% Cu, (from 65 meters depth)

-Including 6 meters at 2.53% Cu (from 72 meters)

This high grade, shallow copper mineralisation in BKM32350-02 is similar in style to that recently identified in the BK058 Zone 11m at 2.96% Cu, including 2 meters at 9.26% Cu, from 6 meters (refer ARS Press Release August 26, 2015) and BK058 64.9m at 1.24% Cu, including 9 meters at 7.35% Cu, from 11.7 meters (refer ARS Press Release August 22, 2013). Drilling aimed at confirming continuity and expanding these higher grade zones is ongoing and further results will be reported over the coming weeks.

The first hole on section line BKM32200 (110.2m EOH) intersected pervasive copper mineralization from near surface and a smaller interval of higher grade at deeper levels. Results received for drill hole BKM32200-01 confirm the moderate to high grade copper mineralization previously outlined in wide spaced drilling. Better results include:

BKM32200-01 55.0 meters at 0.58% Cu, (from 2.0 meters depth)

– Including 7.00 meters at 0.86% Cu (from 4.0 meters)
– Including 9.0 meters at 0.72% Cu (from 36.0 meters)

BKM32200-01 6.0 meters at 2.47% Cu, (from 76.0 meters depth)

– Including 1.0 meter at 12.5% Cu (from 76.0 meters)

Two additional holes have also been completed on this line and assays are expected shortly.

A drill hole location plan and a table of full assay results are provided in Figure 1 and Table 1 respectively. An updated list of drill hole details is provided in Table 2.

Infill and expansion drilling at the BKM deposit will be completed by mid-September and an updated Resource estimate is being prepared for release in late September or early October subject to receipt of final assays for all drill holes. Scout drilling of the BKS and BKW targets is expected to commence by the end of September.

Tony Manini, Kalimantan Gold’s Chief Executive Officer commented:

“The delineation of these two discrete areas of higher grade copper mineralization within the BKM Resource envelope is a promising development for the Beruang Kanan copper project. With further drilling we expect the continuity of these two shallow zones to be confirmed and anticipate that they will have a highly positive impact on the project economics when our evaluation of various mining scenarios commences in Q4, 2015. Asiamet looks forward to providing further results from ongoing drilling and metallurgical test work, and a Resource update for BKM, in the coming weeks”

Figure 1: Location map showing section lines and drill collars
To view the image for figure 1, please click here.

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:

Tony Manini
Deputy Chairman and CEO, Asiamet Resources Limited
Telephone: +61 3 8644 1300
Email: tony.manini@asiametresources.com

VSA Capital Limited
Andrew Raca / Justin McKeegan
Telephone: +44 20 3005 5004 / +44 20 3005 5009
Email: araca@vsacapital.com

Asiamet Resources Nominated Adviser
RFC Ambrian Limited
Andrew Thomson / Oliver Morse
Telephone: +61 8 9480 2500
Email: Andrew.Thomson@rfcambrian.com / Oliver.Morse@rfcambrian.com

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.

SOURCE: Asiamet Resources Limited

ReleaseID: 431967