ARS Asiamet Resources Limited

 
TIDMARS 
 
 
   VANCOUVER, British Columbia 10 March 2017 Asiamet Resources Limited 
("ARS" or the "Company") is pleased to advise that Resource infill and 
extension drilling being completed as part of feasibility studies on the 
Beruang Kanan Main ("BKM") copper deposit in Central Kalimantan, 
Indonesia continues to substantially de-risk the Resource which 
underpins the project. In particular: 
 
 
   -- Ongoing infill drilling at the BKM deposit confirms excellent internal 
      continuity of high grade copper mineralisation at the BK044 Zone 
 
 
   -- New copper mineralisation has been intersected outside of the current BKM 
      resource envelope indicating potential for further extensions to the 
      Resource 
 
 
   -- Results will be incorporated into the ongoing Feasibility study to refine 
      and potentially improve the project's already favourable economics* 
 
 
   A total 93 holes for 9050 metres of diamond core drilling have now been 
completed and three holes are currently in progress. The results from 
nine holes are reported below. All nine holes were drilled in the 
northern part of the BKM deposit. A further 25 holes/1950 metres are 
planned and an updated Resource estimate incorporating all of the 
2016-2017 drilling will be prepared for release shortly thereafter. 
 
   Better results from the most recent drilling include: 
 
   BKM32565-01            93.0 metres at 0.72% Cu (from 8.5 metres) 
 
 
   --  Including 7.0 metres at 1.03% Cu (from 12.5 metres) 
 
 
   --  Including 12.0 metres at 1.57% Cu (from 41.5 metres) 
 
 
   -- Including 13.0 metres at 1.18% Cu (from 60.5 metres) 
 
 
   -- Including 4.0 metres at 1.27% Cu (from 92.5 metres) 
 
 
   BKM32660-01            67.0 metres at 0.63% Cu (from 20.0 metres) 
 
 
   -- Including 20.0 metres at 1.12% Cu (from 62.0 metres) 
 
 
   BKM32650-04            47.0 metres at 0.68% Cu (from 77.0 metres) 
 
 
   -- Including 2.0 metres at 1.11% Cu (from 93.0 metres) 
 
 
   -- Including 2.0 metres at 1.03% Cu (from 98.0 metres) 
 
 
   -- Including 7.0 metres at 1.59% Cu (from 103.0 metres) 
 
 
   -- Including 3.0 metres at 1.37% Cu (from 112.0 metres) 
 
 
   BKM32090-01            58.1 metres at 0.48% Cu (from 3.0 metres) 
 
 
   -- Including 4.0 metres at 1.04% Cu (from 21.5 metres) 
 
 
   BKM32065-01            75.0 metres at 0.43% Cu (from 0.0 metres) 
 
 
   -- Including 4.0 metres at 0.75% Cu (from 13.0 metres) 
 
 
   -- Including 4.0 metres at 0.84% Cu (from 28.0 metres) 
 
 
   -- Including 2.0 metres at 1.12% Cu (from 39.0 metres) 
 
 
   Resource infill hole BKM32050-04 (78.0m End of Hole 'EOH') was drilled 
west of BKM32050-03 (no significant assays) and south of the BK044 Zone. 
The hole confirmed a zone of near surface low to moderate grade 
chalcocite mineralisation hosted in quartz stockwork and pyrite veins. 
Infill hole BKM32065-01 drilled off section to line BKM32050 (75.0m EOH) 
intersected a broad zone of shallow moderate to high grade copper 
mineralisation, located south of the BK044 Zone. 
 
   Resource infill hole BKM32090-01 (97.0m EOH) drilled approximately 50m 
east of BKM32100-02 (92.3m EOH), confirmed the continuity of moderate to 
locally high grade copper mineralisation further eastward.  BKM32090-01 
intersected chalcocite - covellite copper mineralisation from near 
surface hosted in quartz-pyrite veins. Infill hole BKM32100-03 (98.4m 
EOH) drilled approximately 50m east of BKM32090-01 intersected moderate 
grade chalcocite-covellite mineralisation of similar style. Both holes 
were drilled south of the BK044 Zone. 
 
   BKM32565-01 (109.4m EOH), drilled as a quality control twin hole to BK-3 
(240.4m EOH; 79m @ 0.89% Cu, including 22m @ 1.25% Cu and 39m @ 0.99% 
Cu) successfully confirmed a broad zone of moderate and high grade 
copper mineralisation as seen in BK03. 
 
   Infill hole BKM32660-01 (128m EOH) drilled at the northern area of BK044 
Zone intersected moderate to strong chalcocite-covellite mineralisation 
was just below the zone of oxidation, with individual samples (1-metre 
intervals) returning up to 3.31% copper in a broad zone of high grade 
mineralisation.  Infill hole BKM32650-03 (110m EOH) drilled 
approximately 50m east of BKM32660-01 intersected moderate to locally 
high grade chalcocite-covellite copper mineralisation. Infill hole 
BKM32650-04 (140m EOH) drilled approximately 50m east of BKM32650-03 
intersected moderate to high grade chalcocite-covellite mineralisation. 
Expansion hole BKM32650-02 (94m EOH) drilled at the western edge of BKM, 
outside the resource envelope intersected narrow zones of high grade 
chalcocite-covellite mineralisation at deeper levels and this hole 
closes off the mineralisation to the west as expected. 
 
   A drill hole location plan and a table of full assay results are 
provided in Figure 1 and Table 1 respectively. 
 
   Peter Bird, Asiamet's Chief Executive Officer commented: 
 
   The drilling and feasibility studies work being undertaken by our 
highly-experienced team continues to substantially de-risk and thereby 
improve BKM project's potential economics.  Drilling within the BKM 
resource envelope, and particularly the high grade BK044 zone, has 
delivered further excellent results.  The goal of the drilling campaign 
is to upgrade and expand the Mineral Resources at the BKM deposit and we 
are very pleased with the geometry of the mineralization and both the 
lateral and vertical continuity. Several additional strategic and high 
value targets outside of the current resource envelope are also being 
targeted for drill testing. In addition to continuing to communicate 
progress upon Asiamet's Feasibility Study and other corporate 
initiatives, we greatly look forward to an updated Resource estimate as 
the current campaign nears its completion. 
 
   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. 
 
   *As identified in the Preliminary Economic Assessment 
 
   ON BEHALF OF THE BOARD OF DIRECTORS 
 
   Peter Bird, Managing Director & CEO 
 
   For further information, please contact: 
 
   -Ends- 
 
   Peter Bird, Managing Director & CEO, Asiamet Resources Limited 
 
   Telephone: +61 3 8644 1300 
 
   Email: peter.bird@asiametresources.com 
 
   Tony Manini 
 
   Executive Chairman, Asiamet Resources Limited 
 
   Telephone: +61 3 8644 1300 
 
   Email: tony.manini@asiametresources.com 
 
   FlowComms Limited Investor Relations 
 
   Sasha Sethi 
 
   Telephone: +44 (0) 7891 677 441 
 
   Email: Sasha@flowcomms.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 
 
   VSA Capital Limited 
 
   Andrew Raca / Justin McKeegan 
 
   Telephone: +44 20 3005 5004 / +44 20 3005 5009 
 
   Email: araca@vsacapital.com 
 
   Optiva Securities Limited 
 
   Christian Dennis 
 
   Telephone: +44 20 3137 1903 
 
   Email: Christian.Dennis@optivasecurities.com 
 
   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 parametres 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. 
 
   Table 1: Recent drill intercepts. 
 
 
 
 
 
   HOLE ID      From    To     Length    Copper (%)    Cumulative Cu Mineralized Interval 
BKM32050-04      0.3   23.0      22.7          0.31              34.7 Metres 
BKM32050-04     37.0   42.0       5.0          0.42 
BKM32050-04     62.0   64.0       2.0          0.40 
BKM32050-04     73.0   78.0       5.0          0.31 
BKM32065-01      0.0   75.0      75.0          0.43              75.0 Metres 
 Including      13.0   17.0       4.0          0.75 
 Including      28.0   32.0       4.0          0.84 
 Including      39.0   41.0       2.0          1.12 
 Including      50.0   55.0       5.0          0.60 
 Including      64.0   75.0      11.0          0.62 
BKM32090-01      1.4   59.5      58.1          0.48              58.1 Metres 
 Including      21.5   25.5       4.0          1.04 
 Including      45.5   57.5      12.0          0.72 
BKM32100-03      1.6   39.0      37.4          0.34              46.4 Metres 
BKM32100-03     55.0   58.0       3.0          1.11 
BKM32100-03     70.0   73.0       3.0          0.25 
BKM32100-03     83.0   86.0       3.0          0.62 
BKM32565-01      8.5  101.5      93.0          0.72              37.0 Metres 

 Including      12.5   19.5       7.0          1.03 
 Including      41.5   53.5      12.0          1.57 
 Including      60.5   73.5      13.0          1.18 
 Including      92.5   96.5       4.0          1.27 
BKM32660-01     20.0   87.0      67.0          0.63              67.0 Metres 
 Including      62.0   82.0      20.0          1.12 
 
 
   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. 
 
   Table 1: Recent drill intercepts (continued) 
 
 
 
 
 
   HOLE ID      From    To     Length    Copper (%)    Cumulative Cu Mineralized Interval 
BKM32650-02     74.0   76.0       2.0          1.95               3.0 Metres 
BKM32650-02     80.0   81.0       1.0          3.24 
BKM32650-03      3.5    8.0       4.5          0.22              65.5 Metres 
BKM32650-03     12.0   15.0       3.0          0.42 
BKM32650-03     19.0   21.0       2.0          0.30 
BKM32650-03     34.0   65.0      31.0          0.31 
BKM32650-03     71.0   82.0      11.0          0.95 
BKM32650-03     92.0  106.0      14.0          0.44 
BKM32650-04     77.0  124.0      47.0          0.68              53.0 Metres 
 Including      93.0   95.0       2.0          1.11 
 Including      98.0  100.0       2.0          1.03 
 Including     103.0  110.0       7.0          1.59 
 Including     112.0  115.0       3.0          1.37 
BKM32650-04    134.0  140.0       6.0          0.48 
 
 
 
   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/792/15592_ARSIMG1.png 
 
   Figure 1: Location map showing section lines and drill collars 
 
   This announcement is distributed by Nasdaq Corporate Solutions on behalf 
of Nasdaq 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 
 
 
  http://www.asiametresources.com 
 

(END) Dow Jones Newswires

March 10, 2017 02:00 ET (07:00 GMT)

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