Asiamet Continues to Intersect High Grade Copper at BKM

VANCOUVER, BC / ACCESSWIRE / September 29, 2015 / Asiamet Resources Limited (“ARS”) is pleased to report that recent assay results received for resource evaluation drilling at the Beruang Kanan Main (“BKM”) copper deposit in Central Kalimantan, Indonesia have reported additional wide intervals of higher grade copper mineralization within the recently identified BK044 and BK058 zones.

Assay results were received for an additional fourteen holes drilled to increase confidence and expand the BKM Resource.

Strong copper mineralization has been delineated in the southern part of the BK044 Zone and further high grade mineralization was also intersected in the BK058 Zone (refer Figure 1). Within the BK044 Zone, the first 50 meters of hole BKM32250-03 (101.9m end of hole (“EOH”)) intersected shallow, high grade chalcocite-covellite mineralization similar to that reported previously in hole BKM32350-02 to the south (refer Press Release September 15, 2015). Better results include:

BKM32250-03 5.0 meters at 1.38% Cu, (from 12 meters depth)
BKM32250-03 22.0 meters at 2.76% Cu, (from 22 meters depth)

– Including 17 meters at 3.40% Cu (from 23 meters)
– Includes 7 meters at 5.88% Cu (from 29 meters)

Approximately 50 meters south of BKM32250-03, drill hole BKM32200-03 (110.2m EOH) also intersected shallow, high grade copper mineralization of similar style and grade. Better results include:

BKM32200-03 46.4 meters at 1.69% Cu, (from 1.6 meters depth)

– Including 3 meters at 5.00% Cu (from 9.0 meters)
– Including 2 meters at 4.70% Cu (from 26.0 meters)
– Including 10 meters at 3.49% Cu (from 38.0 meters)

4.5 meters at 1.22% Cu (from 53.5 meters depth)

At the BK058 Zone, further high grade, shallow copper mineralisation was intersected in drill hole BKM31800-01 (85.8m EOH), similar in style to that recently identified in drill hole BKM31850-02 (refer ARS Press Release August 26, 2015). Better results include:

BKM31800-01 21.0 meters at 1.77% Cu, (from 9.0 meters depth)
– Including 11.0 meters at 2.53 % Cu (from 9.0 meters)
– Includes 5.0 meters at 3.46% Cu (from 10.0 meters)

BKM31800-01 29.5 meters at 0.95% Cu, (from 35.0 meters depth)
– Including 9.0 meters at 1.33% Cu (from 45.0 meters)
– Including 2.0 meters at 2.90% Cu (from 58.5 meters)

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.

Drilling at BKM is now complete for 2015. One drill rig remains active, carrying out scout drilling at the Beruang Kanan South (“BKS”) and Beruang Kanan West (“BKW”) targets and this work is expected to be finished by the end of October. To date 71 holes/ 6,186 meters of the planned 80 hole/6500 meter program have been completed. In addition to the Resource Estimate update and metallurgical work that is ongoing, Asiamet intends to complete a preliminary economic assessment (“PEA”) pursuant to the requirements of Canadian National Instrument 43-101 and is evaluating tenders for the commissioning of the PEA on the BKM copper deposit.

Tony Manini, Asiamet’s Chief Executive Officer commented:

“Asiamet is very pleased with these latest drill results from BKM. The two higher grade zones of copper mineralization recently identified within the deposit are showing good continuity and the shallow, high grades are outstanding. These highly positive attributes provide an opportunity for maximizing revenue early in a mine’s life when paying back development capital. We anticipate these characteristics to have a very positive impact on project economics when the mining studies are completed as part of the PEA for BKM. Asiamet looks forward to keeping all stakeholders updated as final BKM drill results and the results from ongoing scout drilling, Resource estimation and metallurgical test work come to hand in the coming weeks”

Figure 1: Location map showing section lines and drill collars
To view the image, please click on the following link: https://www.accesswire.com/uploads/8249_image1.jpg

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: 432284