Asiamet Resources Limited Asiamet Expands Footprint Of High Grade Polymetallic Mineralisation In Bk District
June 09 2017 - 2:00AM
UK Regulatory
TIDMARS
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 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
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.
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.
http://www.asiametresources.com/i/pdf/2017-06-09-23_fig.jpeg
Table 1: Channel sample results from BKZ surface sampling program
Channel From To Interval Zn Pb Ag Au Cu Combined
Location (m) (m) (m) (%) (%) (g/t) (g/t) (%) Pb-Zn (%)
Southern
BKZ 0 15 15 19.50 8.10 121 0.69 0.50 27.60
Central
BKZ 0 6 6 13.40 8.20 103 0.52 0.18 21.60
Northern
BKZ 0 5 5 4.10 3.40 180 0.36 0.06 7.50
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"
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
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.
To view the graphic, please click here
http://ww4.fscwire.com/sites/default/files/NR/792/17089_ARSIMG1.png
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.
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 09, 2017 02:00 ET (06:00 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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