Asiamet Resources Limited Asiamet Discovers High Grade Copper Mineralisation At Bkw Prospect
July 19 2017 - 5:08AM
UK Regulatory
TIDMARS
VANCOUVER, British Columbia, July 19, 2017 -- Systematic mapping and
rock chip sampling was recently completed by Asiamet Resources Limited
("Asiamet" or the "Company") in the northern part of the Beruang Kanan
West ("BKW") prospect in Central Kalimantan, Indonesia. BKW is located
approximately 1km west of Asiamet's core Beruang Kanan Main ("BKM")
Copper Project where bankable feasibility studies are well advanced.
Results received to date at BKW confirm a copper in soil anomaly in the
northern part of BKW is associated with a zone of
quartz-chalcocite-bornite veins hosted in a polymict breccia (Figure 1
http://ww4.fscwire.com/sites/default/files/NR/792/17752_ARSING1.png ).
Highlights from this recent work include:
-- A rock grab sample collected from a 30-cm wide quartz -sulphide vein
cutting sericite altered breccia assayed 26.1% Copper and 57.1g/t Silver
-- Approximately 200m west is a sericite altered breccia cut by
quartz-bornite-chalcocite-pyrite veins, with individual rock chip grab
samples assaying up to 4.1% Copper.
Discovery of these copper sulphide bearing outcrops within a zone of
mineralised quartz veins covers 600m x 150m in the northern part of BKW
and overlaps with a small portion of the broad copper in soil anomaly
delineated at BKW. There were 147 rock chip grab samples collected and
a summary of the significant assays from this program are detailed in
Table 1. The true width and thickness of the high-grade copper
mineralisation has not yet been determined and follow up mapping and
sampling will be undertaken. The location and style of the BKW
mineralisation is similar to that identified at BKM and represents a
priority target for drill testing. The mapping area is shown on the
project location map in Figure 2
http://ww4.fscwire.com/sites/default/files/NR/792/17752_ARSING2.png .
Asiamet geologists will soon commence mapping and sampling the largest
and strongest copper in soil anomaly at BKW measuring 1.7km x 1km, with
the goal of defining near surface copper mineralisation for immediate
drill testing.
Peter Bird, Asiamet's Chief Executive Officer Commented
"Over the past three years the team at Asiamet have rapidly advanced a
new copper discovery at BKM from early exploration through to
feasibility stage. Looking forward we are now focused on completing the
feasibility study with the objective of then moving this asset through
to the development phase.
"As previously highlighted, the BKM discovery is not an isolated
occurrence but rather the first prospect with defined Resources within a
large, approximately 15sqkm area, of anomalous copper mineralisation in
rocks and soils. These recent results from the northern part of BKW
coupled with the fact that the mineralisation is similar in style to BKM
highlights the significant potential for the discovery of additional
copper mineralisation that exists in the greater BK area.
"This area and any others generated from ongoing mapping and sampling at
BKW and Beruang Kanan South ('BKS') represent high priority drill
targets for testing over the coming months. Any targets with potential
to add mine life and enhance the already attractive economics (outlined
in the PEA) of BKM will be rapidly advanced in order to achieve initial
Resource status. We look forward to reporting the results of this
exciting exploration work over the coming months"
Table 1: Rock chip grab sample results from northern
BKW surface sampling program
Interval Rock Sample Cu Ag
Location Sample Type No (ppm) (ppm) Pb (ppm) Zn (ppm)
BKM-NW Grab Outcrop 111107 20 0.60 797 2670
BKM-NW Grab Outcrop 111108 66 <0.5 31 4250
BKM-NW Grab Outcrop 111112 90 1.00 237 1450
BKM-NW Grab Outcrop 111123 32 9.40 3260 327
BKM-NW Grab Outcrop 111127 702 0.70 1580 863
BKM-NW Grab Outcrop 111149 8160 10.80 30 6070
BKW Grab Outcrop 111165 214 <0.5 386 1550
BKW Grab Outcrop 111169 193 1.10 156 1860
BKW Grab Outcrop 111175 70 0.70 394 1110
BKW Grab Outcrop 111177 48 0.70 344 5890
BKW Grab Outcrop 111181 2150 5.10 194 1120
BKW Grab Outcrop 111184 2140 2.20 174 58
BKW Grab Outcrop 111194 1390 <0.5 260 795
BKW Grab Outcrop 111224 63 <0.5 1440 3210
BKW Grab Outcrop 111231 40700 17.30 55 181
BKW Grab Outcrop 111232 13700 6.70 129 77
BKW Grab Outcrop 111233 1480 1.50 46 67
BKW Grab Outcrop 111238 261000 56.60 88 2220
BKW Grab Outcrop 111239 23800 7.00 41 191
BKW Grab Outcrop 111240 78 <0.5 178 1310
BKW Grab Outcrop 111246 276 <0.5 746 1440
BKW Grab Outcrop 111268 143 1.20 1690 674
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
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
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.
You may also view the original graphics at the following location:
Figure 1:
http://ww4.fscwire.com/sites/default/files/NR/792/17752_ARSING1.png
Rock chip grab samples from northern part of BKW assayed 26.1% Cu (Left)
and 4.1% Cu (Right).
Figure 2:
http://ww4.fscwire.com/sites/default/files/NR/792/17752_ARSING2.png
Location map showing Cu in Soils in the BK District. Coincident Cu in
soil and rock chip anomalies occur at both BKW prospect and BKM copper
deposit, with similar styles of copper mineralisation in both areas.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/Asiamet07192017.pdf
http://ww4.fscwire.com/sites/default/files/news_release_pdf/Asiamet07192017.pdf
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
July 19, 2017 06:08 ET (10:08 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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