TIDMARS
RNS Number : 4250T
Asiamet Resources Limited
24 November 2021
24 November 2021
Asiamet intersects strong Gold-Silver at BKZ
Copper-Zinc-Precious Metals Deposit
Asiamet Resources Limited ("Asiamet" or the "Company") is
pleased to announce further strong results from recent drilling
completed as part of the Company's 2021 Resource extension program
at the BKZ deposit located on its KSK Contract of Work (KSK CoW) in
Central Kalimantan, Indonesia.
Drilling at BKZ continues to return high grade
Zinc-Lead-Copper-Silver-Gold (Zn-Pb-Cu-Ag-Au) mineralisation and
most recently also intersected strong gold-silver dominant
mineralisation immediately to the east and below the base metal
horizons including 29m at 4.59g/t Au, 161g/t Ag.
All holes completed in the current program have intersected
significant mineralization and expanded the BKZ Mineral Resource
envelope which remains open in several directions. Mineralisation
is shallow and projects from near surface down to approximately
200m. Results are pending on a further five holes.
The Company is confident that ongoing drilling will continue to
expand the mineral inventory and economic value of the KSK licence
and as such the drill program has now been expanded from 3,000
metres to 4,500 metres to further follow up some of the key
high-grade trends observed.
Assay result highlights for recently completed drill holes:
-- BKZ33650-09
-- 7 metres @ 3.67% Zn, 1.86% Pb, 61g/t Ag from 110 metres
-- 14.5 metres @ 1.77% Pb, 110g/t Ag, 0.55 g/t Au from 117 metres
-- 29 metres @ 4.59g/t Au, 161 g/t Ag, 0.74% Pb, 66 g/t Mo from 157.5 metres
-- 9.1 metres @ 0.97g/t Au, 31g/t Ag from 190.5 metres
-- BKZ33750-08
-- 7 metres @ 3.6% Zn, 1.1% Pb, 43g/t Ag, 0.1% Cu from 100 metres
-- 73.4 metres @ 0.65g/t Au, 64g/t Ag, 0.66% Pb from 127 metres,
incl. 16m @ 1.13g/t Au, 130g/t Ag, 1.1% Pb
-- BKZ33600-07
-- 6 metres @ 12.7% Zn, 4.3% Pb, 0.54% Cu, 162g/t Ag from 50 metres
-- 18 metres @ 1.28% Cu, 1.06% Pb, 12.6g/t Ag, 0.23g/t Au from 79 metres
-- BKZ33500-03
-- 13 metres @ 1.26% Zn, 0.24% Cu, 8.7g/t Ag from 56.5 metres
-- 25 metres @ 2.06% Cu, 9g/t Ag from 97 metres
-- BKZ33500-02
-- 10.2 metres @ 6.8% Zn, 2.3% Pb, 41g/t Ag from 71.8 metres
-- 7 metres @ 1.0% Cu, 47g/t Ag, from 184.5 metres
Tony Manini, Executive Chairman of Asiamet Resources
commented:
"The 2021 Resource expansion program has significantly exceeded
our expectations. As drilling continues to deliver exceptional
high-grade zinc and copper dominant polymetallic results which
expand the current BKZ Resource envelope, the recent discovery of
strong precious metals consistent with zonation commonly observed
in other gold rich VHMS systems, provides strong supporting
evidence that the BKZ and BKM deposits are part of a single 3km
long VHMS system which will continue to grow. Most importantly
these results provide significant optionality for a longer mine
life which further enhances the value of the BKM project and the
wider KSK Contract of Work."
BKZ Drilling
Following on from the previously reported (see news release 19
October 2021) drill hole assay results intersected on sections
9933550N, 9933650N, 9933700N and 9933750N, drilling continues to
return impressive results which expand the Resource envelope at the
BKZ polymetallic VHMS deposit. Significant assay results are
reported in this release from sections 9933500N, 9933600N, 9933650N
and 9933750N. Three distinct styles of mineralisation have now been
intersected at BKZ.
1. Upper Polymetallic Zinc-Lead-Silver+/-Copper mineralisation
The Upper Polymetallic Zinc-Lead-Silver mineralisation is hosted
in bedded sediments overlying the Lower Copper-Silver Mineralised
horizon and was intersected in drillholes BKZ33600-07 (6m @12.7%
Zn, 4.3% Pb, 0.54% Cu, 162g/t Ag) BKZ33500-02 (10.2m @6.8% Zn, 2.3%
Pb, 41g/t Ag), BKZ33650 -09 (7m @ 3.67% Zn, 1.86% Pb, 61g/t Ag),
BKZ33750-08 (7m@3.6 % Zn, 1.1% Pb, 43g/t Ag)
2. Lower Copper Mineralisation
The copper rich part of VHMS deposits is generally interpreted
to be part of the structurally controlled feeder to mineralization
and is typically comprised of stockwork quartz, pyrite and
chalcopyrite copper mineralisation. The Lower Copper zone at BKZ
was intersected in drillholes BKZ33600-07 and BKZ33500 -03 which
reported 18m@1.28% Cu, 1.06% Pb, 12g/t Ag, 0.23g/t Au and 25m@2.06%
Cu, 9g/t Ag (Figure 1) respectively.
Figure 1. High grade lower copper zone mineralization in hole
BKZ33650-07 To view the image, please click on the following link
https://asiametresources.com/wp-content/uploads/2021/11/Figure-1.jpg
3. Gold-Silver Mineralisation
A new style of gold-silver mineralisation was intersected
immediately to the east of the Upper Zinc Lead Silver and Lower
Copper mineralisation in drill holes BKZ33650-09 and BKZ33750-08.
Hole BKZ33650-09 intersected 29m @ 4.59g/t Au, 161 g/t Ag, 0.74%
Pb, 66 g/t Mo from 157.5m and 9.1m @ 0.97g/t Au, 31g/t Ag from
190.5m. BKZ33750-08 intersected 73.4 metres @ 0.65g/t Au, 64g/t Ag,
0.66% Pb % Zn, from 127m. Refer figures 2 and 3 below.
Figure 2: BKZ Drill Section 9933650N - Assay Results To view the
image, please click on the following link
https://asiametresources.com/wp-content/uploads/2021/11/Figure-2.jpg
Figure 3: BKZ Drill Section 9933750N - Assay Results To view the
image, please click on the following link
https://asiametresources.com/wp-content/uploads/2021/11/Figure-3.jpg
Qualified Persons
Data disclosed in this press release has been reviewed and
verified by Asiamet's qualified person, Patrick Creenaune, Chief
Geologist, FAIG (Fellow Australian Institute of Geoscientists), an
advisor to the Company and a Qualified Person within the meaning of
JORC (2012) and for the purposes of the AIM Rules for
Companies.
ON BEHALF OF THE BOARD OF DIRECTORS
Tony Manini, Executive Chairman
For further information, please contact:
-Ends-
Tony Manini
Executive Chairman, Asiamet Resources Limited
Email: tony.manini@asiametresources.com
Investor Enquiries
Sasha Sethi
Telephone: +44 (0) 7891 677 441
Email: Sasha@flowcomms.com / info@asiametresources.com
Asiamet Resources Nominated Adviser
RFC Ambrian Limited
Bhavesh Patel / Stephen Allen
Telephone: +44 (0)20 3440 6800
Email: Bhavesh.Patel@rfcambrian.com / Stephen.Allen@rfcambrian.com
Optiva Securities Limited
Christian Dennis
Telephone: +44 20 3137 1903
Email: Christian.Dennis@optivasecurities.com
Follow us on twitter @AsiametTweets
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