Asiamet Resources Limited Bkm - Latest Drill Results Confirm And Extend High Grade Copper
October 14 2015 - 2:00AM
UK Regulatory
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)
Copyright (c) 2015 Dow Jones & Company, Inc.
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