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 October 14, 2015 - 2:00 AM EDT
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BKM – Latest Drill Results Confirm and Extend High Grade Copper

BKM – Latest Drill Results Confirm and Extend High Grade Copper



White Rock, British Columbia (FSCwire) - 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 ≥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 the graphic in its original size, please click here

 

 

Table 2: Updated Drill Hole Details

 

Hole ID

Easting

Northing

RL

Depth

Azi

Dip

Status

Assays

BKM31550-01

768877.2

9931550.0

428.0

75.0

270

-60

Completed

Final Assays Received

BKM31550-02

769078.3

9931550.0

379.1

70.4

270

-60

Completed

Final Assays Received

BKM31650-01

768684.3

9931647.4

403.7

81.9

270

-60

Completed

Final Assays Received

BKM31650-02

768766.2

9931653.3

435.6

81.3

270

-60

Completed

Final Assays Received

BKM31650-03

768824.1

9931652.5

427.2

69.3

270

-60

Completed

Final Assays Received

BKM31650-04

768883.2

9931653.2

426.0

72.6

270

-60

Completed

Final Assays Received

BKM31650-05

768999.3

9931648.3

408.9

81.6

270

-60

Completed

Final Assays Received

BKM31650-06

769093.6

9931649.3

358.7

90.2

270

-60

Completed

Final Assays Received

BKM31750-01

769085.8

9931753.1

375.6

75.1

270

-60

Completed

Final Assays Received

BKM31750-02

769001.2

9931758.6

400.5

85.0

270

-60

Completed

Final Assays Received

BKM31750-03

768950.0

9931764.0

418.9

75.0

270

-60

Completed

Final Assays Received

BKM31750-04

768892.2

9931750.8

419.1

75.3

270

-60

Completed

Final Assays Received

BKM31750-05

768839.9

9931751.0

417.1

90.3

270

-60

Completed

Final Assays Received

BKM31750-06

768786.9

9931756.6

402.1

90.4

270

-60

Completed

Final Assays Received

BKM31750-07

768706.0

9931746.2

394.8

90.2

270

-60

Completed

Final Assays Received

BKM31750-08

768656.7

9931753.0

388.8

88.1

270

-60

Completed

Final Assays Received

BKM31750-09

769202.6

9931750.0

333.6

56.3

270

-60

Completed

Final Assays Received

BKM31800-01

769008.5

9931799.9

401.7

85.8

270

-60

Completed

Final Assays Received

BKM31800-02

769069.4

9931800.0

375.2

80.1

270

-60

Completed

Final Assays Received

BKM31800-03

769119.9

9931799.0

353.5

65.8

270

-60

Completed

Final Assays Received

BKM31850-01

769201.6

9931850.0

339.0

75.7

270

-60

Completed

Final Assays Received

BKM31850-02

769106.0

9931850.0

377.4

69.6

270

-60

Completed

Final Assays Received

BKM31850-03

769019.1

9931850.0

426.0

101.1

270

-60

Completed

Final Assays Received

BKM31850-04

768900.9

9931850.0

415.3

97.7

270

-60

Completed

Final Assays Received

BKM31850-05

768797.0

9931850.1

430.1

75.5

270

-60

Completed

Final Assays Received

BKM31850-06

769157.2

9931850.0

318.0

50.0

270

-60

Completed

Final Assays Received

BKM31850-07

769060.5

9931850.0

351.0

46.6

270

-60

Completed

Final Assays Received

BKM31950-01

769094.6

9931950.0

380.5

75.2

270

-60

Completed

Final Assays Received

BKM31950-02

768991.0

9931950.0

417.4

100.9

270

-60

Completed

Final Assays Received

BKM31950-03

768888.0

9931950.0

447.9

75.0

270

-60

Completed

Final Assays Received

BKM31950-04

768779.0

9931950.0

462.4

75.0

270

-60

Completed

Final Assays Received

BKM32050-01

768702.3

9932050.0

485.2

71.6

270

-60

Completed

Final Assays Received

BKM32050-02

768854.6

9932050.0

441.1

104.3

270

-60

Completed

Final Assays Received

BKM32050-03

768998.2

9932050.0

397.8

70.2

270

-60

Completed

Final Assays Received

BKM32150-01

768970.3

9932150.0

410.9

100.5

270

-60

Completed

Final Assays Received

BKM32150-02

768922.1

9932150.0

427.0

110.1

270

-60

Completed

Final Assays Received

BKM32150-03

768828.5

9932150.0

458.4

120.0

270

-60

Completed

Final Assays Received

BKM32150-04

768729.5

9932150.0

479.5

100.3

270

-60

Completed

Final Assays Received

BKM32200-01

768835.2

9932201.1

470.9

110.2

270

-60

Completed

Final Assays Received

BKM32200-02

768901.0

9932200.9

463.2

110.2

270

-60

Completed

Final Assays Received

BKM32200-03

768949.7

9932200.8

426.0

111.0

270

-60

Completed

Final Assays Received

Hole ID

Easting

Northing

RL

Depth

Azi

Dip

Status

Assays

BKM32250-01

768731.7

9932249.9

504.1

84.3

270

-60

Completed

Final Assays Received

BKM32250-02

768836.9

9932250.0

483.3

110.8

270

-60

Completed

Final Assays Received

BKM32250-03

768881.0

9932249.9

457.6

101.9

270

-60

Completed

Final Assays Received

BKM32250-04

768973.8

9932249.9

402.9

104.3

270

-60

Completed

Final Assays Received

BKM32350-01

768999.7

9932350.0

386.5

45.7

270

-60

Completed

Final Assays Received

BKM32350-02

768896.7

9932350.0

447.3

125.9

270

-60

Completed

Final Assays Received

BKM32350-03

768839.3

9932350.0

460.0

143.1

270

-60

Completed

Final Assays Received

BKM32350-04

768737.7

9932350.1

489.6

111.5

270

-60

Completed

Final Assays Received

BKM32350-05

768666.0

9932350.1

517.0

124.7

270

-60

Completed

Final Assays Received

BKM32450-01

768849.2

9932443.7

422.4

92.4

270

-60

Completed

Final Assays Received

BKM32450-02

768745.4

9932452.6

442.5

70.6

270

-60

Completed

Final Assays Received

BKM32450-03

768710.3

9932454.5

451.3

75.2

270

-60

Completed

Final Assays Received

BKM32450-04

768616.4

9932457.4

484.7

65.4

270

-60

Completed

Final Assays Received

BKM32450-05

768567.6

9932457.5

495.6

65.4

270

-60

Completed

Final Assays Received

BKM32450-06

768519.9

9932462.8

521.9

75.8

270

-60

Completed

Final Assays Received

BKM32450-07

768470.7

9932455.1

536.8

50.5

270

-60

Completed

Final Assays Received

BKM32450-08

768423.1

9932457.5

544.7

46.6

270

-60

Completed

Final Assays Received

BKM32450-09

769101.1

9932450.0

374.7

46.4

270

-60

Completed

Final Assays Received

BKM32450-10

768978.2

9932450.0

395.6

33.5

270

-60

Completed

Final Assays Received

BKM32500-01

768674.4

9932503.0

460.3

116.7

270

-60

Completed

Final Assays Received

BKM32500-02

768775.6

9932502.0

427.7

120.9

270

-60

Completed

Final Assays Received

BKM32500-03

768676.6

9932500.0

415.9

156.4

270

-60

Completed

Final Assays Received

BKM32550-01

768523.7

9932550.5

505.4

65.2

270

-60

Completed

Final Assays Received

BKM32550-02

768623.2

9932550.3

475.1

75.5

270

-60

Completed

Final Assays Received

BKM32550-03

768782.1

9932550.2

432.1

125.8

270

-60

Completed

Final Assays Received

BKM32550-04

768883.7

9932550.2

407.0

125.3

270

-60

Completed

Final Assays Received

BKM32550-05

768991.9

9932526.7

381.2

50.7

270

-60

Completed

Final Assays Received

BKM32550-06

768934.5

9932550.0

391.8

106.8

270

-60

Completed

Final Assays Received

BKM32550-07

768834.2

9932550.0

420.0

128.7

270

-60

Completed

Final Assays Received

BKM32650-01

768779.0

9932650.1

464.8

110.0

270

-60

Completed

Final Assays Received

 

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: +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.



To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/AsiametOct142015.pdf

Source: Asiamet Resources Limited (TSX Venture:ARS, AIM:ARS) www.asiametresources.com

 

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Source: FSCwire (October 14, 2015 - 2:00 AM EDT)

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