| ||Fri Jun 9, 2017|
Asiamet Expands Footprint of High Grade Polymetallic Mineralisation in BK District
| ||Systematic mapping and channel sampling of outcropping massive sulphide mineralisation was completed by Asiamet Resources Limited ("Asiamet" or the "Company") mid-April at the BKZ prospect in Central Kalimantan, Indonesia. BKZ is located 800m north of Asiamet's core BKM Copper Project where bankable feasibility studies are well advanced. Results received to date show the potential for a stand alone polymetallic deposit at BKZ. Highlights from this recent work include: |
A total of 53 rock chip channel samples collected in the vicinity of historical drill hole BKZ-1 (123.1m End of Hole 'EOH') which intersected 16m @ 5.75% Zinc, 2.78% Lead, 0.16% Copper, 0.64g/t Gold and 57.5g/t Silver from 6m depth (refer ARS Release October 21, 2015). Channel samples were taken within a mapped area measuring 300m x 300m area and the discovery of new massive sulphide-bearing outcrops confirms a strike length of at least 150 metres. Summary channel sample results (see Table 1 below) confirm the high grade polymetallic nature of the BKZ mineralised system, with up to 37% combined Lead-Zinc over 1-metre sample intervals. The true width and thickness of the high grade mineralisation has not yet been determined.
- A continuous 15m rock channel sample collected in the southern part of the BKZ prospect averaged 19.5% Zinc, 8.1% Lead, 121g/t Silver, 0.69g/t Gold and 0.50% Copper (rock saw sampling at one-metre intervals)
- Individual one-metre rock channel samples collected from three separate locations over the mineralised strike extent outlined to date returned up to:
- 24.2% Zinc, 14.4% Lead, 0.83% Cu, 86g/t Silver and 0.24g/t Gold
- 17.7% Zinc, 16.6% Lead, 0.23% Cu, 174g/t Silver and 1.34g/t Gold
- 7.6% Zinc, 6.1% Lead, 0.10% Cu, 246g/t Silver and 0.36g/t Gold
- Excellent potential to identify additional polymetallic mineralisation along strike associated with a well defined coincident zinc-lead -copper in soil anomaly measuring 400 x 200m.
- Drill holes and surface sampling of massive sulphide-bearing outcrops confirm mineralisation is near surface and has at least 150m of strike extent
- Additional high grade polymetallic mineralisation was also mapped and sampled to the immediate south of BKM Copper deposit with rock chips assaying to 35.6% Zinc, 26.2% Lead, 2.94% Copper, 1.0g/t Gold and 3440g/t Silver
Additional to the high grade polymetallic mineralisation mapped and sampled at the BKZ prospect, a review of historic exploration data collected to the immediate south of BKM Copper deposit confirms a strong coincident zinc-lead-copper in rock chip and soil anomaly measuring 400 x 400 metres. A rock chip sample collected from a large boulder within this anomalous area assayed 35.6% Zinc, 26.2% Lead, 2.94% Copper, 1.0g/t Gold and 3440g/t Silver. The location and style of this mineralisation is similar to that identified at BKZ and represents a second-high priority polymetallic target that warrants drill testing. The BKZ and BKZ South prospects are shown on the project location map in Figure 1.
Table 1: Channel sample results from BKZ surface sampling program
Peter Bird, Asiamet's Chief Executive Officer commented:
"Potential for polymetallic mineralisation in the BK District has been known for some time, however the grades and thicknesses indicated by this most recent work together with the identification of a second area of similar potential close to the advanced BKM project are very exciting. While Asiamet will continue to focus its effort on progressing development of the BKM copper project and nearby copper prospects, it is also important for investors to appreciate the exceptional potential for additional discoveries on the KSK property. Asiamet looks forward to further advancing these high grade polymetallic prospects in the near future"
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:
Deputy Chairman and CEO, Asiamet Resources Limited
Telephone: +61 3 8644 1300
Executive Chairman, Asiamet Resources Limited
Telephone: +61 3 8644 1300
Telephone: +44 (0) 7891 677 441
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
Optiva Securities Limited
Telephone: +44 20 3137 1903
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.
Figure 1: Location map showing Zn in Soils in the BK District. Coincident Zn in soil and rock chip anomalies occur at both BKZ prospect and immediately to the south of the BKM copper deposit, with similar styles of massive sulphide mineralisation observed in both areas by ARS geologists.
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