.
Latest News

Asiamet Intersects High Grade Copper Below BKZ Polymetallic Zn-Pb-Cu-Ag-Au Deposit

Asiamet Resources Limited ("ARS" or the "Company") is pleased to report that ongoing exploration drilling at the BKZ Polymetallic ("BKZ") prospect located on its Kalimantan Surya Kencana ("KSK") 6th Generation Contract of Work ("CoW"), in Central Kalimantan, Indonesia continues to intersect thick, near surface high-grade base and precious metal-rich mineralisationHighlights to date include:

  • Visible massive sulphide or vein style mineralisation has been intersected in thirteen of the fourteen holes drilled to date over an area of 225m x 100m. The deposit remains open in multiple directions.

 

  • BKZ continues to impress, with strong polymetallic mineralisation occurring in an easterly dipping, N-S trending mineralised domain ranging from 8m to 39m in true thickness.

 

  • High-grade copper mineralisation has recently been intersected immediately beneath the high-grade polymetallic Zn-Pb-Cu-Ag-Au mineralisation

 

Highlights of the latest batch of drill results received include:

BKZ33750-02 26.3at 6.3zinc, 2.2lead, 33.6g/t silver and 0.33g/t gold (from 1.7m)

Including 7.0m at 10.8zinc, 4.7lead, 56.1g/t silver, 0.45g/t gold (from 3m)

Including 5.0m at 10.3zinc, 2.8lead, 36.6g/t Silver, 0.37g/t gold (from 20m)

 

BKZ33650-02 7.0m at 3.6% zinc, 0.94% lead and 22.5g/t silver (from 41.0m)

8.4m at 1.3% copper (from 108.0m)

Including 3.0m at 2.7% copper (from 110.0m)

 

BKZ33700-04 14.0m at 2.7% zinc, 1.2% lead and 54.6g/t silver (from 54.0m)

 

The initial BKZ scout drilling programme is complete, comprising a total of 14 holes for 1,354 metres of diamond core drilling.  The drill rig is now being moved to the Beruang Kanan West ("BKW") prospect to test multiple copper mineralised sheeted vein zones with associated wide spread alteration similar to BKM occurring over a 2.5 square kilometre areaThree well defined copper in soil anomalies occur coincident with these sheeted vein zones, the largest measuring 1.7km x 1km (refer ARS Press Release February 23, 2017)

 

Peter Bird, Asiamet's Chief Executive Officer commented:

"Results from the initial scout drilling programme completed at the BKZ polymetallic prospect have been extremely pleasing and have gone a long way towards both advancing the potential for another high-value standalone project in the immediate vicinity of our BFS stage BKM copper project, but also enhancing our belief that Asiamet's KSK Contract of Work has substantial exploration upside potential above and beyond the currently defined BKM copper Resource.

 

Following on from the success of our initial step-out exploration we are now moving to commence scout drilling at the Beruang Kanan West ("BKW") prospect which, although returning historical high-grade copper in rock and soil samples, has never been drilled to date. We are excited by the potential of the BKW area and looking forward to drill testing another of the multiple highly prospective exploration targets identified within the wider KSK District."

 

Drilling Summary

The second hole on section line BKZ3375was drilled south-southeast to confirm continuity of mineralisation between section lines BKM33750 and BKM323700.  BKZ33750-02 (89.9m End of Hole "EOH") intersected a broad zone of polymetallic mineralisation from 1.7depth hosted in quartz-sulphide veins to massive sphalerite (zinc), galena (lead), chalcopyrite (copper) and pyrite (Figure 2).  A third hole, BKZ33750-03 (87.5m EOH) was collared and completed 40m east of BKM33750-02, which intersected visible massive sulphide mineralisation at approximately 20m depth. Assays are expected in early November (Figure 3).

The second hole on section line BKZ3365was drilled to confirm continuity of mineralisation in BKM33650-01 (113m EOH), which intersected 30.0m at 8.9% Zinc, 2.2% Lead, 46g/t Silver and 0.37g/t Gold from 43 metres (refer ARS Press Release October 11, 2017).  BKZ33650-0(117.4m EOH) is a vertical hole that intersected multiple zones of moderate grade polymetallic mineralisation from 41.0m depth comprising quartz-sulphide veins with sphalerite (zinc), galena (lead), chalcopyrite (copper) and pyrite.  Strong copper mineralisation occurs at the end of the hole (Figure 4)indicating potential for high grade copper mineralisation below the BKZ polymetallic mineralised domain. Unfortunately, the hole had to be terminated due the capacity of the scout drill rig.

The fourth hole on section line BKZ3370was drilled to confirm continuity of mineralisation in BKM33700-02 (113.9m EOH), which intersected 39m at 7.3% zinc, 2.3% lead, 33g/t silver and 0.33g/t gold (from 41 metres) (refer ARS Press Release October 3, 2017).  BKZ33700-0(122.0m EOH) is a vertical hole that intersected a zone of moderate grade polymetallic mineralisation from 54.0m depth comprising quartz-sulphide veins with sphalerite (zinc), galena (lead), chalcopyrite (copper) and pyrite.  While this hole appears to mark the eastern boundary of the BKZ deposit, further drilling is required to close off the mineralisation in this area.

The Company's AIDT 600 rig has a drilling capacity of 600m depth which is significantly more powerful than the Jackro rig currently being used at BKZ.  With stronger rig capacity, the Company will be able to test the down-dip extension of the BKZ polymetallicmineralisation and the strike and depth extensions of the newly discovered high-grade copper mineralisation intersected below the BKZ polymetallic mineralisation.  The Company is planning to mobilise the larger rig in early 2018.

A drill hole location plan and a table of full assay results are provided in Figure 1 and Table 1 respectively.

 

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.

 

Table 1: Recent drill intercepts.

 

HOLE ID

 

From

 

To

 

Length

 

Zinc

(%)

 

Lead

(%)

 

Silver

(g/t)

 

Gold

(g/t)

 

Copper

(%)

BKZ33750-02

1.70

28.00

26.30

6.34

2.25

33.6

0.33

NSA

Including

3.00

10.00

7.00

10.82

4.72

56.1

0.45

NSA

Including

20.00

25.00

5.00

10.35

2.83

36.6

0.37

NSA

BKZ33750-02

41.00

43.00

2.00

2.00

NSA

7.5

0.29

0.64

BKZ33750-02

54.00

60.00

6.00

1.57

NSA

3.0

NSA

NSA

BKZ33750-02

69.00

71.00

2.00

1.43

NSA

NSA

0.13

NSA

BKZ33650-02

41.00

48.00

7.00

3.60

0.94

22.5

NSA

NSA

BKZ33650-02

54.00

63.00

9.00

1.03

0.21

16.1

NSA

NSA

BKZ33650-02

72.00

74.00

2.00

2.43

NSA

6.7

0.15

0.18

BKZ33650-02

78.00

80.00

2.00

1.92

NSA

28.6

NSA

1.94

BKZ33650-02

108.00

116.40

8.40

NSA

NSA

5.6

0.11

1.29

Including

110.00

113.00

3.00

NSA

NSA

8.0

0.13

2.67

Including

115.40

116.40

1.00

NSA

1.49

12.20

0.34

1.85

BKZ33700-04

54.00

68.00

14.00

2.70

1.23

54.6

0.12

0.12

BKZ33700-04

73.00

76.00

3.00

3.94

1.26

25.7

0.20

0.11

BKZ33700-04

103.00

104.00

1.00

2.56

NSA

4.7

0.27

NSA

Notes: Grade intercepts are calculated as a weighted average grade >=1.0Zinc (uncut).  True widths are interpreted to be between 80-100% of the reported lengths, unless otherwise stated. Orientation of the mineralised domain is estimated to have an azimuth of 340 degrees and a dip of -25 degrees to the northeast.

 

Figure 1: Location map showing strong zinc in soil geochemistry over the BK district with prospects & drill collars. To view the graphic, please open the link here http://www.asiametresources.com/i/maps/2017-11-01_NR-Fig1.jpg

Figure 2Semi-massive Sphalerite (Zn sulphide) and Galena (Pb sulphide) mineralisation in BKZ33750-02.  The weighted average grade for the interval 4 - 6m (2interval) is 17.1% Zn, 8.7% Pb and 83g/t AgTo view the graphic, please open the link here http://www.asiametresources.com/i/maps/2017-11-01_NR-Fig2.jpg

Figure 3: Massive sulphides with strong galena mineralisation in BKZ33750-03, assays pending. To view the graphic, please open the link here http://www.asiametresources.com/i/maps/2017-11-01_NR-Fig3.jpg

Figure 4: Semi-massive sulphides with strong chalcopyrite mineralisation in BKZ33650-02.  The interval 112 - 113m (1-metre) assayed 3.1% copperTo view the graphic, please open the link here http://www.asiametresources.com/i/maps/2017-11-01_NR-Fig4.jpg

 

 

Open an Account

If you are interested in opening an account with Optiva Securities, please fill in the details on the apply button.


APPLY NOW