Asiamet Resources Limited Asiamet Reports Final Assays For Bkm Feasibility Drilling
June 15 2017 - 1:00AM
UK Regulatory
TIDMARS
Asiamet Resources Limited ("ARS" or the "Company") is pleased to advise
that it has now received the final batch of assays for Resource infill
and expansion drilling completed as part of Feasibility Studies on the
Beruang Kanan Main ("BKM") copper deposit in Central Kalimantan,
Indonesia. Results continue to impress, with the latest near surface
high grade copper assays returned from holes drilled at the BK058 Zone.
In particular:
-- Infill drilling at the BKM deposit confirms excellent internal continuity
of near surface high grade copper mineralisation at the BK058 Zone
-- Twin drill holes confirm previously reported high grade and near surface
mineralisation at BKM058 Zone
-- Results have been incorporated into the ongoing Feasibility study to
refine and potentially improve the project's already favourable economics
-- Hackman & Associates are incorporating all 2016/17 drill results into an
updated Resource estimate.
The Resource infill and expansion drilling program at BKM comprised a
total of 122 holes for 12480.9 metres of diamond core drilling. The
results from the final five drill holes of this drilling campaign are
reported below. All were drilled in the southern part of the BKM deposit,
with better results from the most recent drilling including:
BKM31800-07 58.0 metres at 1.45% Cu (from 6.5 metres)
-- Including 20.5 metres at 2.24% Cu (from 7.5 metres)
-- Including 18.5 metres at 1.71% Cu (from 36.0 metres)
BKM31835-01 17.5 metres at 1.57% Cu (from 25.5 metres)
-- Including 9.5 metres at 2.37% Cu (from 27.5 metres)
-- Includes 4.5 metres at 4.15% Cu (from 31.5 metres)
BKM31600-06 4.0 metres at 3.15% Cu (from 46.5 metres)
Expansion drill hole BKM31600-06 (100.0m End of Hole 'EOH') intersected
a narrow zone of strong quartz - chalcocite - covellite veining, with
individual veins up to 0.5 metres in width. This hole was drilled 50
metres west of BKM31600-05, which intersected 26.5 metres at 1.18% Cu
from 48.0 metres, including 15.5 metres at 1.79% Cu from 50.0 metres
(refer ARS Press Release May 24, 2017).
Quality control drill hole BKM31650-09 (120.0m EOH) is a scissor hole to
BKM31650-07 (109.0m EOH), which intersected low to moderate grade copper
mineralisation with locally narrow zones of high grade
chalcocite-covellite located south of BKM058 Zone (refer ARS Press
Release May 24, 2017). BKM31650-09 was drilled east to confirm the
orientation of mineralisation, and intersected similar style and grade
mineralisation to that in BK31750-07.
BKM31750-11 (120.3m EOH) drilled as a quality control twin hole to
BKM31750-01 (75.1m EOH), which reported 9m @ 0.73% Cu from 19.0m and
10.0m @ 0.57% Cu from 41.0m (refer ARS Press Release May 13, 2015),
successfully confirmed the moderate-grade copper mineralisation in
BKM31750-01.
BKM31800-07 was drilled as a quality control twin hole to BKM31800-01
(85.8m EOH) that reported 21.0 metres at 1.77% Cu from 9.0 metres depth
and 29.5 metres at 0.95% Cu from 35.0 metres depth (refer ARS Press
Release September 29, 2015). Drilling has successfully confirmed this
zone of high grade near surface copper mineralisation.
Infill hole BKM31835-01 (118.0m EOH) drilled approximately 25m east of
BKM31850-03 (101.1 m EOH), which reported 10.0m @ 0.93% Cu from 14.5m
(refer ARS Press Release Sept 14, 2015), intersected higher grade quartz
- chalcocite mineralisation compared to BKM31850-03, and confirms the
near surface high grade mineralisation is 100m in width on this section
line.
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 Resource infill and expansion drilling completed as part of the BKM
Feasibility Study has consistently delivered results that have met or
exceeded our expectations. The thickness, continuity and grade of copper
mineralisation has proven to be very robust and we are expecting a high
level of conversion from Inferred Resource to the higher confidence
level Measured and Indicated Resources as the updated Resource estimate
for BKM is completed shortly. The BKM mineralisation remains open in
several areas and exploration in the wider BK District remains in its
infancy. Asiamet is very excited by the opportunity to begin testing
some of these high potential targets in the second half of 2017"
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
Peter Bird, Deputy Chairman and CEO, Asiamet Resources Limited
For further information, please contact:
-Ends-
Peter Bird
Deputy Chairman and 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
Sasha Sethi
Telephone: +44 (0) 7891 677 441
Email: Sasha@flowcomms.com
Asiamet Resources Nominated Adviser
RFC Ambrian Limited
Andrew Thomson / Stephen Allen
Telephone: +61 8 9480 2500
Email: Andrew.Thomson@rfcambrian.com / Stephen.Allen@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 characterised 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 contains inside information as stipulated under the
Market Abuse Regulations (EU) no. 596/2014 ("MAR").
Table 1: Recent drill intercepts
HOLE ID From To Length Copper (%) Cumulative Cu Mineralised Interval
BKM31600-06 46.5 50.5 4.0 3.15 4.0 Metres
BKM31650-09 19.0 35.0 16.0 0.45 44.15 Metres
BKM31650-09 51.4 56.5 5.2 0.24
BKM31650-09 85.5 108.5 23.0 0.39
Including 94.5 99.5 5.0 0.82
BKM31750-11 18.7 83.0 64.4 0.29 64.35 Metres
BKM31800-07 6.5 64.5 58.0 1.45 58.0 Metres
Including 7.5 28.0 20.5 2.24
Including 36.0 54.5 18.5 1.71
BKM31800-07 107.5 111.5 4.0 0.59
BKM31835-01 25.5 43.0 17.5 1.57 17.5 Metres
Including 27.5 37.0 9.5 2.37
Includes 31.5 36.0 4.5 4.15
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://ww4.fscwire.com/sites/default/files/NR/792/17150_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
June 15, 2017 02:00 ET (06:00 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
Asiamet Resources (LSE:ARS)
Historical Stock Chart
From Apr 2024 to May 2024
Asiamet Resources (LSE:ARS)
Historical Stock Chart
From May 2023 to May 2024