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Asiamet Resources Identify High Grade Copper Zone

Asiamet Resources Limited ("ARS") is pleased to announce that recent drilling as part of the Resource evaluation program in progress on its flagship Beruang Kanan copper project in Central Kalimantan, Indonesia has identified a high grade copper zone within the current resource envelope that has the potential to significantly enhance project economics. 
 
Hole BKM31850-02 (69.6m end of hole ("EOH")) on section line 31850 intersected very shallow high grade copper mineralization similar to that reported approximately 125m south in hole BK058 i.e. 64.9m at 1.24% Cu, including 9 meters at 7.35% Cu, from 11.7 meters (refer Press Release August 22, 2013). Better results include: 
 
  BKM31850-02    11.0 meters at 2.96% Cu, (from 6 meters depth) 
 
   --  Including 2.0 meters at 9.26% Cu (from 6.0 meters) 
 
Follow up drilling is now underway in the immediate area of these intersections to increase drill density and improve resource confidence. The high grade, shallow copper mineralisation with limited overburden waste outlined on section lines BKM31850 and BKM31750 provides the opportunity to enhance project economics through the potential development of a very low strip ratio, high grade starter pit early in the project life. 
 
In total, 53 holes and 4424.5 meters of the planned 80 hole/ 6500 meter resource evaluation drilling program have been completed and three holes are currently in progress.  Drilling is complete on section lines BKM31550, 31650, 31750, 31950, 32050, 32200 and 32450, and drilling is in progress on section lines BKM31800, 31850, 32150 and 32350. 
 
Final assay results were received for an additional 1444.6 meters in twenty drill holes aimed at increasing confidence and expanding the BKM Resource. A drill hole location plan and a table of full assay results are provided in Figure 1 and Table 1 respectively. A list of drill hole details is provided in Table 2. 
 
All holes drilled to date on section line BKM32550 intersected copper mineralization.  Significantly, the continuity of strong near-surface mineralization previously reported in historical drill holes BK02 (93m @ 0.75% Cu, including 24m @ 0.92% Cu and 15m @ 1.73% Cu) and BK03 (79m @ 0.89% Cu, including 22m @ 1.25% Cu and 39m @ 0.99% Cu) has been confirmed in drill holes BKM32550-03 (125.8m end of hole ("EOH")) and BKM32550-04, drilled 100m and 200m east of the BK02 and BK03 collars, respectively.  Drill hole BKM32550-03 reported a wide interval of copper mineralization in two individual intersections and drill hole BKM32550-04 (125.3m EOH) reported three individual intersections of moderate to high grade copper mineralization. Better results include: 
 
  BKM32550-03    53.20 meters at 0.73% Cu, (from 6.0 meters depth) 
 
   -- Including 29.20 meters at 1.02% Cu (from 30.0 meters) 
 
   BKM32550-04    42.40 meters at 1.00% Cu, (from 1.6 meters depth) 
 
   -- Including 5.9 meters at 1.55% Cu (from 1.60 meters) 
 
   -- Including 14.0 meters at 1.45% Cu (from 9.50 meters) 
 
Assay results received for drill holes on section lines BKM32550 and BKM31850 confirm the moderate to high grade copper mineralization previously outlined in wide spaced drilling. 
 
As drilling rates have exceeded expectations, all of the planned BKM infill and expansion drilling planned for 2015 is expected to be 
completed by mid-September, almost two months ahead of schedule.  Rather than a two stage Resource estimate update as originally planned, all results will now be incorporated into a single update which is expected to be completed in late September or early October. Scout drilling of the BKS, BKW and BKZ targets will be undertaken with a single drill rig during September. 
 
  Tony Manini, Kalimantan Gold's Chief Executive Officer commented: 
 
"Asiamet is successfully delivering on its plan and achieving the milestones set for itself in 2015. The identification of a discrete zone of shallow, high grade copper mineralization within the current BKM Resource envelope presents an excellent opportunity to assess the potential for developing a very low strip ratio, high grade starter pit early in the project life which would be expected to significantly enhance project economics. We look forward to reporting further results from ongoing evaluation drilling of this zone over the coming weeks"

 

Table 1: Recent BKM drill intercepts.

HOLE IDFromToLengthCopper (%)Cumulative Cu Mineralized Interval
BKM31750-09 47.0 56.3 9.3 0.64 9.3 Meters
BKM31850-01 No Significant Intervals  
BKM31850-02 6.0 17.0 11.0 2.96 11.0 Meters
Including 6.0 8.0 2.0 9.26
BKM31950-01 No Significant Intervals  
BKM31950-02 No Significant Intervals  
BKM31950-03 10.0 15.0 5.0 0.50 5.0 Meters
BKM31950-04 3.0 12.0 9.0 0.38 29.0 Meters
BKM31950-04 22.0 42.0 20.0 0.60
Including 34.0 42.0 8.0 0.88
BKM32050-01 7.9 18.0 10.2 0.76 14.7 Meters
BKM32050-01 34.0 38.5 4.5 0.67
BKM32050-02 1.1 13.0 11.9 0.88 48.9 Meters
BKM32050-02 27.0 64.0 37.0 0.52
BKM32350-01 No Significant Intervals  
BKM32450-06 18.0 30.0 12.0 0.44 12.0 Meters
BKM32450-07 No Significant Intervals  
BKM32450-08 No Significant Intervals  
BKM32450-09 No Significant Intervals  
BKM32450-10 No Significant Intervals  
BKM32550-01 9.0 10.0 1.0 1.45 9.0 Meters
BKM32550-01 22.0 30.0 8.0 0.41
BKM32550-02 18.0 22.0 4.0 0.34 21.0 Meters
BKM32550-02 41.0 58.0 17.0 0.77
BKM32550-03 6.0 59.2 53.2 0.73 57.2 Meters
Including 30.0 59.2 29.2 1.02
BKM32550-03 82.0 86.0 4.0 0.54
BKM32550-04 1.6 44.0 42.4 1.00 61.75 Meters
Including 1.6 7.5 5.9 1.55
Including 9.5 23.5 14.0 1.45
BKM32550-04 71.0 74.35 3.35 0.39
BKM32550-04 78.0 94.0 16.0 0.58
BKM32550-05 39.0 47.5 8.5 0.37 8.5 Meters

   

Notes: Grade intercepts are calculated as a weighted average grade 
greater than or equal to 0.3% copper (uncut). 
 
True widths are interpreted to be between 80-100% of the reported 
lengths, unless otherwise stated. 
 
Figure 1: BKM Copper Deposit - Location map showing section lines and 
drill collars 
 
To view the image, please click on the following link: 
http://www.fscwire.com/sites/default/files/NR/792/7860_image1.png 

 

DJ Asiamet Resources Limited High Grade Copper Zone -2-

Hole IDEastingNorthingRLDepthAziDipStatusAssays
BKM31550-01 768877.2 9931550.0 428.0 75.0 270 -60 Completed Assays Pending
BKM31550-02 769078.3 9931550.0 379.1 70.4 270 -60 Completed Assays Pending
BKM31650-01 768684.3 9931647.4 403.7 81.9 270 -60 Completed Final Assays
BKM31650-02 768766.2 9931653.3 435.6 81.3 270 -60 Completed Final Assays
BKM31650-03 768824.1 9931652.5 427.2 69.3 270 -60 Completed Final Assays
BKM31650-04 768883.2 9931653.2 426.0 72.6 270 -60 Completed Final Assays
BKM31650-05 768999.3 9931648.3 408.9 81.6 270 -60 Completed Final Assays
BKM31650-06 769093.6 9931649.3 358.7 90.2 270 -60 Completed Final Assays
BKM31750-01 769085.8 9931753.1 375.6 75.1 270 -60 Completed Final Assays
BKM31750-02 769001.2 9931758.6 400.5 85.0 270 -60 Completed Final Assays
BKM31750-03 768950.0 9931764.0 418.9 75.0 270 -60 Completed Final Assays
BKM31750-04 768892.2 9931750.8 419.1 75.3 270 -60 Completed Final Assays
BKM31750-05 768839.9 9931751.0 417.1 90.3 270 -60 Completed Final Assays
BKM31750-06 768786.9 9931756.6 402.1 90.4 270 -60 Completed Final Assays
BKM31750-07 768706.0 9931746.2 394.8 90.2 270 -60 Completed Final Assays
BKM31750-08 768656.7 9931753.0 388.8 88.1 270 -60 Completed Final Assays
BKM31750-09 769202.6 9931750.0 333.6 56.3 270 -60 Completed Final Assays
BKM31800-01 769008.5 9931799.9 401.7 0.0 270 -60 In-Progress Assays Pending
BKM31850-01 769201.6 9931850.0 339.0 75.7 270 -60 Completed Final Assays
BKM31850-02 769106.0 9931850.0 377.4 69.6 270 -60 Completed Final Assays
BKM31850-03 769019.1 9931850.0 426.0 101.1 270 -60 Completed Assays Pending
BKM31850-04 768900.9 9931850.0 415.3 97.7 270 -60 Completed Assays Pending
BKM31850-05 768797.0 9931850.1 430.1 75.5 270 -60 Completed Assays Pending
BKM31950-01 769094.6 9931950.0 380.5 75.2 270 -60 Completed Final Assays
BKM31950-02 768991.0 9931950.0 417.4 100.9 270 -60 Completed Final Assays
BKM31950-03 768888.0 9931950.0 447.9 75.0 270 -60 Completed Final Assays
BKM31950-04 768779.0 9931950.0 462.4 75.0 270 -60 Completed Final Assays
BKM32050-01 768702.3 9932050.0 485.2 71.6 270 -60 Completed Final Assays
BKM32050-02 768854.6 9932050.0 441.1 104.3 270 -60 Completed Final Assays
BKM32050-03 768998.2 9932050.0 397.8 70.2 270 -60 Completed Assays Pending
BKM32150-01 768970.3 9932150.0 410.9 100.5 270 -60 Completed Assays Pending
BKM32150-02 768922.1 9932150.0 427.0 110.1 270 -60 Completed Assays Pending
BKM32150-03 768828.5 9932150.0 458.4 0.0 270 -60 In-Progress Assays Pending
BKM32200-01 768835.2 9932201.1 470.9 110.2 270 -60 Completed Assays Pending
BKM32200-02 768901.0 9932200.9 463.2 110.2 270 -60 Completed Assays Pending
BKM32200-03 768949.7 9932200.8 426.0 111.0 270 -60 Completed Assays Pending
BKM32350-01 768999.7 9932350.0 386.5 45.7 270 -60 Completed Final Assays
BKM32350-02 768896.7 9932350.0 447.3 125.9 270 -60 Completed Assays Pending
BKM32350-03 768839.3 9932350.0 460.0 143.1 270 -60 Completed Assays Pending
BKM32350-04 768737.7 9932350.1 489.6 111.5 270 -60 Completed Assays Pending
BKM32350-05 768666.0 9932350.1 517.0 52.2 270 -60 In-Progress Assays Pending
BKM32450-01 768849.2 9932443.7 422.4 92.4 270 -60 Completed Final Assays
BKM32450-02 768745.4 9932452.6 442.5 70.6 270 -60 Completed Final Assays
BKM32450-03 768710.3 9932454.5 451.3 75.2 270 -60 Completed Final Assays
BKM32450-04 768616.4 9932457.4 484.7 65.4 270 -60 Completed Final Assays
BKM32450-05 768567.6 9932457.5 495.6 65.4 270 -60 Completed Final Assays
BKM32450-06 768519.9 9932462.8 521.9 75.8 270 -60 Completed Final Assays
BKM32450-07 768470.7 9932455.1 536.8 50.5 270 -60 Completed Final Assays
BKM32450-08 768423.1 9932457.5 544.7 46.6 270 -60 Completed Final Assays
BKM32450-09 769101.1 9932450.0 374.7 46.4 270 -60 Completed Final Assays
BKM32450-10 768978.2 9932450.0 395.6 33.5 270 -60 Completed Final Assays
BKM32550-01 768523.7 9932550.5 505.4 65.2 270 -60 Completed Final Assays
BKM32550-02 768623.2 9932550.3 475.1 75.5 270 -60 Completed Final Assays
BKM32550-03 768782.1 9932550.2 432.1 125.8 270 -60 Completed Final Assays
BKM32550-04 768883.7 9932550.2 407.0 125.3 270 -60 Completed Final Assays
BKM32550-05 768991.9 9932526.7 381.2 50.7 270 -60 Completed Final Assays

 

Table 2: BKM Copper Deposit - Drill Hole Information 
 
Qualified Person 
 
All data, as disclosed in this press release, has been reviewed and verified by 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 

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