ARS Asiamet Resources Limited

 
TIDMARS 
 
 
   Asiamet Resources Limited ("ARS" or the "Company") has filed a NI 43-101 
compliant technical report supporting the independently estimated 
updated mineral resource for the Beruang Kanan Main ("BKM") deposit 
within the Company's 100% owned KSK Contract of Work in Kalimantan, 
Indonesia as announced on October 21, 2015. 
 
   As announced on October 21, 2015, the highlights of the estimate are: 
 
   HIGHLIGHTS 
 
 
   -- Large increase in contained copper. 231MIbs (105,000 tonnes) of contained 
      copper has been added as Indicated Resources and 35Mlbs (18,000 tonnes) 
      of contained copper has been added as Inferred Resources. 
 
   -- Resource confidence significantly upgraded. ARS's 2015 drill program has 
      demonstrated good continuity of shallow near-surface copper 
      mineralization and successfully upgraded a significant portion of the 
      previous Inferred resource to the Indicated resource category.  The 
      previous September 26, 2014 BKM Mineral Resource estimate contained no 
      Indicated Resources. 
 
   -- Beruang Kanan Main Resources are now estimated as: 
 
          -- Indicated Resources of 15.0 million tonnes at 0.7% Cu containing 
             231MIbs (105,000 tonnes) of copper at a 0.2% copper cut-off grade 
             (refer Table 1). The September 26, 2014 BKM Mineral Resource 
             estimate contained no Indicated Resources. 
 
          -- Inferred Resources of 49.7 million tonnes at 0.6% Cu containing 
             657MIbs pounds (298,000 tonnes) of copper at a 0.2% copper cut-off 
             grade (refer Table 1). 
 
 
   -- Substantial Mineral Resource inventory at a 0.5% copper cut-off grade 
      provides a solid basis for upcoming mining studies to be undertaken as 
      part of the BKM preliminary economic assessment (PEA). The larger 
      inventory of available Mineral Resource provides an opportunity to assess 
      various options relating to plant throughput and/or increased mine life 
      in the mining studies. 
 
   -- Two discrete near surface higher grade zones identified in the 2015 
      drilling provide ARS with an opportunity to assess the potential for 
      higher grade starter pit opportunities that can enhance project 
      economics. 
 
 
   The report is titled "Beruang Kanan Main Zone, Kalimantan Indonesia: 
2015 Resource Estimate Report", prepared by Duncan Hackman of Hackman 
and Associates Pty. Ltd. dated November 30, 2015. 
 
 
 
   Mineral Resource Estimate - Beruang Kanan Main Deposit - October 2015 
 
 
 
 
Table 1 - Indicated and Inferred Mineral Resource 
 (NI 43-101) 
                      Indicated Mineral Resources 
 Reporting cut     Tonnes   Cu Grade     Contained Cu     Contained Cu 
     (Cu %)        ('000)     (Cu %)     ('000 tonnes)    ('000,000 lbs) 
      0.2          15,000      0.7           105               231 
      0.5          12,600      0.7            88               194 
      0.7          5,600       0.9            50               110 
 
                       Inferred Mineral Resources 
 Reporting cut     Tonnes   Cu Grade     Contained Cu     Contained Cu 
     (Cu %)        ('000)     (Cu %)     ('000 tonnes)    ('000,000 lbs) 
      0.2          49,700      0.6           298               657 
      0.5          25,300      0.7           177               390 
      0.7          9,800       0.9            88               194 
 
 
   Notes: 
 
   Mineral Resources for the Beruang Kanan mineralization have been 
estimated in conformity with generally accepted CIM "Estimation of 
Mineral Resource and Mineral Reserves Best Practices" guidelines.  In 
the opinion of Duncan Hackman, the block model Resource estimate and 
Resource classification reported herein are a reasonable representation 
of the copper Mineral Resources found in the defined area of the Beruang 
Kanan Main mineralization.  Mineral Resources are not Mineral Reserves 
and do not have demonstrated economic viability. There is no certainty 
that all or any part of the Mineral Resource will be converted into 
Mineral Reserve.  Computational discrepancies in the table and the body 
of the Release are the result of rounding. 
 
   KSK Contract of Work 
 
   The Beruang Kanan project is located within the KSK Contract of Work. 
The holder of the KSK Contract of Work is PT Kalimantan Surya Kencana 
("KSK"). ARS holds 100% of the shares of Indokal Limited ("Indokal"). 
KSK is owned 75% by Indokal and 25% by PT Pancaran Cahaya Kahayan 
("PCK").  Indokal owns 100% of PCK. 
 
   Qualified Person 
 
   Duncan Hackman (B. App.Sc., MSc., MAIG) of Hackman & Associates Pty Ltd 
(Australia) is the independent Qualified Person within the meaning of NI 
43-101 and the AIM Rules for Companies for the purposes of Mineral 
Resource estimates contained within this press release.  Data disclosed 
in this press release have been reviewed and verified by ARS's qualified 
person, Stephen Hughes, P. Geo. a director of ARS and a Qualified Person 
within the meaning of NI 43-101 and the AIM Rules for Companies. 
 
   ON BEHALF OF THE BOARD OF DIRECTORS 
 
   Tony Manini, Deputy Chairman and CEO 
 
   -Ends- 
 
   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. 
 
   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#1971012 
 
 
  http://www.asiametresources.com 
 

(END) Dow Jones Newswires

December 03, 2015 02:00 ET (07:00 GMT)

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