ARS Asiamet Resources Limited

 
TIDMARS 
 
 
   Further Shallow High Grade Copper Intersections Confirm BK058 Zone 
Potential 
 
   VANCOUVER, British Columbia, Aug. 04, 2016 (GLOBE NEWSWIRE) -- Asiamet 
Resources Limited ("ARS" or the "Company") is pleased to announce that 
Resource infill and extension drilling at the Beruang Kanan Main ("BKM") 
copper deposit in Central Kalimantan, Indonesia continues to intersect 
shallow high grade copper mineralization within the BK058 Zone. 
 
   30 holes for 3100 meters of diamond core drilling have now been 
completed and three holes are currently in progress. Results from four 
holes (BKM31750-10, BKM31800-05, BKM31800-06 and BKM31700-05) are 
reported below. A further 90 holes and 8000 meters are planned. 
 
   All holes with the exception of BKM31800-06 (85.4m End of hole 'EOH'), 
intersected shallow high grade covellite - chalcocite copper 
mineralization in quartz stockwork and pyrite veins hosted within 
silicified and highly altered volcaniclastics and breccias.  Hole 
BKM31750-10 drilled to test for deeper extensions of 2015 drill hole 
BKM31750-04 (10.3 meters at 0.74% copper from 65m to bottom of hole 
refer ARS Press Release June 11, 2015) intersected 5 intervals of 
moderate to strong copper and extended the depth of mineralization by a 
further 17 meters. 
 
   Better results include: 
 
   BKM31750-10   5.2 meters at 1.08% Cu (from 2.3 meters) 
 
 
   -- Including 2.2 meters at 2.18% Cu (from 2.3 meters) 
 
 
   15.0 meters at 0.78% Cu (from 22.5 meters) 
 
   23.0 meters at 1.24% Cu (from 41.5 meters) 
 
 
   -- Including 14.0 meters at 1.58% Cu (from 43.5 meters) 
 
 
   25.0 meters at 0.86% Cu (from 67.5 meters) 
 
 
   -- Including 5.0 meters at 2.75% Cu (from 67.5 meters) 
 
 
   Infill drill hole BKM31800-05 (119m EOH) intersected two intervals of 
moderate to strong copper mineralization, comprising quartz - covellite 
- chalcocite veins up to 50cm in width and assaying up to 6.81% copper 
over one meter. Better results include: 
 
   BKM31800-05   29.0 meters at 1.17% Cu (from 33.5 meters) 
 
 
   -- Including 7.0 meters at 2.92% Cu (from 50.5 meters) 
 
 
   The excellent thickness and continuity of near surface high grade 1-3% 
copper mineralization intersected in feasibility study drilling to date 
further strengthens the key fundamentals of the BKM project. The 
delineation of these discrete zones of continuous, shallow, high grade 
mineralization that are easily accessible for early mining has the 
potential to lower operating costs and further enhance project 
economics. 
 
   In line with expectations Hole BKM31700-05, an infill hole drilled 50m 
west of BKM31700-04, intersected shallow moderate grade 
covellite-chalcocite copper mineralization assaying 20.1 meters at 0.68% 
Cu from 11.9 meters. Hole BKM31800-06 intersected mostly barren post 
mineral diorite porphyry dyke however low grade copper mineralization 
was confirmed outside the resource envelope at the contact with altered 
and brecciated volcaniclastic host rocks. 
 
   A drill hole location plan and a table of full assay results are 
provided in Figure 1 and Table 1 respectively. 
 
   Tony Manini, Asiamet's Chief Executive Officer commented: 
 
   "Asiamet is very pleased with the progress being made on the feasibility 
study to date. All the longer lead time studies are underway and all 
resource definition drilling completed in the higher grade BK058 zone 
thus far has intersected strong near surface copper mineralization with 
excellent continuity and thickness. These discrete easily accessible 
higher grade zones with potential for lower strip ratio mining and lower 
operating costs early in the project life continue to confirm BKM as an 
outstanding copper development opportunity. We look forward to reporting 
further results from ongoing drilling and test work as the feasibility 
study momentum continues." 
 
   Table 1: Recent drill intercepts. 
 
 
 
 
 
  HOLE ID       From    To    Length    Copper (%)    Cumulative Cu Mineralized Interval 
BKM31750-10      2.3   7.5       5.2          1.08                           73.2 Meters 
Including        2.3   4.5       2.2          2.18 
BKM31750-10     14.5  19.5       5.0          0.21 
BKM31750-10     22.5  37.5      15.0          0.78 
Including       24.5  31.5         7          1.01 
BKM31750-10     41.5  64.5      23.0          1.24 
Including       43.5  57.5      14.0          1.58 
BKM31750-10     67.5  92.5      25.0          0.86 
Including       67.5  72.5       5.0          2.75 
BKM31800-05     13.5  19.5       6.0          0.27                           35.0 Meters 
BKM31800-05     33.5  62.5      29.0          1.17 
Including       50.5  57.5       7.0          2.92 
BKM31800-06     54.0  61.0       7.0          0.24                            7.0 Meters 
BKM31700-05     11.9  32.0      20.1          0.68                           23.1 Meters 
BKM31700-05     76.0  79.0       3.0          0.45 
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 image click here 
http://fscwire.com/sites/default/files/NR/792/12415_img.png 
 
   Figure 1: Location map showing section lines and drill collars 
 
   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 
 
   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. 
 
   For further information, please contact: 
 
   Tony Manini 
 
   Deputy Chairman and CEO, 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 / 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 
 
   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#2033065 
 
 
  http://www.asiametresources.com 
 

(END) Dow Jones Newswires

August 04, 2016 02:00 ET (06:00 GMT)

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