ARS Asiamet Resources Limited

 
TIDMARS 
 
 
   Asiamet Resources Limited ("ARS" or the "Company") is pleased to 
announce that initial wide spaced scout drilling at the Beruang Kanan 
South ("BKS") prospect in Central Kalimantan, Indonesia has intersected 
shallow high grade copper mineralization. The BKS prospect is 
approximately one kilometer to the south of the BKM deposit where 
Asiamet recently reported a substantial increase in N43-101 compliant 
copper Resources (refer ARS 21 Oct 2015 news release). These results 
confirm excellent potential to delineate additional copper 
mineralization close to the BKM deposit. 
 
   Holes were targeted on a strong, broad 800 x 900 meter copper in soil 
anomaly where rock chip samples assaying up to 17.6% Cu were collected, 
and where previous scout drilling intersected copper mineralization with 
associated high gold grades including 10.5m @ 0.9% Cu, from 14.5m depth 
and 3m @ 11.52g/t Au, (including 1.5m @ 21.7g/t Au) from 11.5m depth, in 
hole KBK28 (refer ARS 13 April 2015 news release). 
 
   In total, 4 holes for 278.5 meters were completed in the recent scout 
drilling program with assay results confirming high grade copper 
mineralization in two of the four holes drilled.  As seen at BKM, strong 
covellite copper mineralisation occurs near surface with chalcopyrite 
deeper in the system. Better results include: 
 
   BKM30500-01    10.0 meters at 2.52% Cu (from 19.5 meters depth) 
 
 
   -- Including 2 meters at 7.45% Cu (from 19.5 meters) 
 
 
   BKM30500-01    3.0 meters at 1.45% Cu (from 43.5 meters depth) 
 
   BKM30500-01    3.5 meters at 1.04% Cu (from 58.5 meters depth) 
 
   BKM30625-01    1.0 meters at 3.83% Cu (from 7.5 meters depth) 
 
   BKM30625-01    2.0 meters at 0.67% Cu (from 12.5 meters depth) 
 
   A drill hole location plan and a table of significant assay results are 
provided in Figure 1 and Table 1 respectively. An updated list of drill 
hole details is provided in Table 2. 
 
   Scout drilling at BKS has now been completed. Historical data from both 
the BK area and the wider KSK COW is currently being assessed to 
delineate additional high potential targets for future drilling. 
 
   Tony Manini, Asiamet's Chief Executive Officer, commented: 
 
   "With receipt of these highly promising results from wide spaced scout 
drilling at BKS, Asiamet has met its objectives for the current program. 
The combination of solid first pass drill results associated with 
widespread copper in soils and some very high grade copper rock chip 
results clearly demonstrates excellent potential for adding further 
tonnages of higher grade copper mineralization close to the BKM deposit. 
We look forward to providing stakeholders with a strong ongoing news 
flow as the preliminary economic assessment for BKM gets underway, 
mining licences for Beutong and Jelai are secured and several corporate 
initiatives aimed at further building shareholder value are advanced" 
 
   Table 1: Recent drill intercepts. 
 
 
 
 
 
   HOLE ID      From    To    Length    Copper (%)    Cumulative Cu Mineralized Interval 
BKM30500-01     19.5  29.5      10.0          2.52              16.5 Meters 
BKM30500-01     43.5  46.5       3.0          1.45 
BKM30500-01     58.5  62.0       3.5          1.04 
BKM30625-01      7.5   8.5       1.0          3.83               3.0 Meters 
BKM30625-01     12.5  14.5       2.0          0.67 
BKM30350-01          No Significant Assays 
BKM31150-01          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 highlighting four completed drill holes at BKS 
 
   To view Figure 1, click onto the link below or copy and paste into your 
browser 
 
   http://www.fscwire.com/sites/default/files/NR/792/8721_AsiametFig1Nov162015.jpg 
 
 
   Table 2: Updated Drill Hole Details 
 
 
 
 
  Hole ID     Easting  Northing   RL    Depth  Azi  Dip   Status      Assays 
                                                                         Final 
                                                                        Assays 
BKM30350-01    769127   9930350  429.5   73.9  270  -60  Completed    Received 
                                                                         Final 
                                                                        Assays 
BKM30500-01    769066   9930500  475.5   63.9  270  -60  Completed    Received 
                                                                         Final 
                                                                        Assays 
BKM30625-01    768971   9930625  492.3   68.5  270  -60  Completed    Received 
                                                                         Final 
                                                                        Assays 
BKM31150-01    769538   9931150  362.2   72.2  270  -60  Completed    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: +61386441300 
 
   Email: tony.manini@asiametresources.com 
 
   FlowComms Limited 
 
   Sasha Sethi/ Mehrdad Yousefi 
 
   Telephone: +44 (0) 7704 974784 
 
   Email: Sasha@flowcomms.com / Mehrdad@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 
 
   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. 
 
   This announcement is distributed by NASDAQ OMX Corporate Solutions on 
behalf of NASDAQ OMX 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 
 
   HUG#1966858 
 
 
  http://www.asiametresources.com 
 

(END) Dow Jones Newswires

November 16, 2015 02:00 ET (07:00 GMT)

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