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Asiamet Commences Resource Drilling at BKZ Following Further High Grade Mineralisation at potential BKZ "Feeder Structure"

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 shallow, high grade base and precious metal rich mineralisation. Highlights to date include:

·      BKZ deposit comprises high grade polymetallic Zn-Pb-Cu-Ag-Au mineralisation underlain by copper-silver mineralisation that is either massive sulphide or vein style. Mineralisation is confirmed over a strike length of 300m and up to 110m in width. Thickness is variably 5m to 40m.

·      Five holes have now intersected the high grade copper-silver mineralisation that underlies the high grade polymetallic Zn-Pb-Cu-Ag-Au mineralisation, confirming at least 150m strike length and 50m in true thickness. Mineralisation remains open to the south, east, west and down-dip.

·    New assays confirm further high grade copper-silver mineralisation within the interpreted "Feeder Structure" underlying the polymetallic mineralisation at BKZ, with up to 7.9% copper over 1-metre sample intervals.

·     Drilling at BKZ has been upgraded to "Delineation Drilling Status comprising an estimated 3500m in 30 holes to provide sufficient drill data density in order to define a maiden Resource for the polymetallic mineralisation and the underlying copper-silver mineralisation at BKZ.

   

Highlights of the latest batch of drill results received include: 

BKZ33550-01     5.0m at 4.4% zinc, 1.6% lead, 46g/t silver and 0.11g/t gold (from 44.0m)

38.0m at 1.26% copper, 9g/t silver, 0.13g/t gold (from 49.0m)

Including 3m at 1.59% copper, 14g/t silver, 0.22g/t gold (from 50.0m)

Including 21m at 1.78% copper, 11g/t silver, 0.14g/t gold (from 65.0m)

Includes 7m at 2.81% copper, 15g/t silver, 0.19g/t gold (from 65.0m)

Includes 4m at 2.71% copper, 12g/t silver, 0.14g/t gold (from 74.0m)

BKZ33500-01     12.0m at 4.0% zinc, 1.7% lead, 9g/t silver and 0.10g/t gold (from 54.5m)

To date, twenty holes (2133m metres in total) have been drilled to test the upper zone of polymetallic massive sulphide and vein style mineralisation and the lower zone of vein hosted copper - silver mineralisation.

 

Drilling Details

The first scout hole on section line BKZ33550 was drilled westward to confirm continuity of mineralisation between section lines BKM33600 and BKM33550, where hole BKZ33600-02 (89.6m End of Hole "EOH") intersected a broad zone of copper-silver mineralisation from 59m depth hosted in quartz-sulphide veins (refer ARS Press Release November 13, 2017).  Hole BKZ33550-01 (116.7m EOH) was collared 50m south-southeast of BKM33600-02 and intersected vein-style polymetallic mineralisation underlain by high grade copper mineralisation contained within a dense stockwork of quartz-sulphide and sulphide veins containing bornite, chalcopyrite and pyrite (Figure 3). The hole was terminated due to rock hardness and rig capacity, with the final 18.7m comprising strongly silicified and oxidised rock.  Assays confirm the oxidised zone contains gold-silver mineralisation and the final 1.7m sample assayed 0.32g/t gold and 31g/t Ag.

The first scout hole on section line BKZ33500 was drilled westward to confirm continuity of mineralisation intersected on section line BKM33550.  Hole BKZ33500-01 (118.5m EOH) was collared 50m south-southeast of hole BKM33550-01 and intersected vein-style polymetallic mineralisation underlain by multiple zones of moderate grade copper mineralisation contained within a dense stockwork of quartz-sulphide and sulphide veins containing chalcopyrite and pyrite.

The first scout hole on section line BKZ33450 was drilled westward to confirm continuity of mineralisation intersected on section line BKM33500.  Hole BKZ33450-01 (151.5m EOH) was collared 50m south of hole BKM33500-01, but failed to intersect the significant zones of moderate to high grade copper mineralisation that were intersected in drill holes BKZ33500-01 and BKZ33550-01.  Hole BKZ33450-01 intersected several microdiorite and diorite porphyry dykes, up to 25m in width.  This is the first drill hole that intersected post mineral microdiorite and diorite porphyry dykes, hence a structural model is required as the mineralisation could be offset by post-mineral faults.  This 3D structural and geologic modelling work is ongoing, and drilling will continue to enhance our knowledge of the mineralised system at BKZ.  

 

Summary

Drilling at BKZ continues to yield positive results and the additional drill holes have enhanced our understanding of the dimensions of the two mineralised domains, the footprint of which remains open in all directions.  Drilling at BKZ has as such been upgraded to "Delineation Drilling Status", comprising an estimated 3500m in 30 holes. 

Delineation drilling will be carried out at a nominal drill grid spacing of 25-metres by 50-meters, to provide sufficient drill data density in order to define a maiden Resource for the polymetallic mineralisation and the underlying copper-silver mineralisation at BKZ. The infill drill program has commenced, and the rig is currently positioned on section line BKZ33550.

A second rig will be mobilised to BKZ after the geotechnical program which is currently underway at BKM Copper Project is completed.  Drilling is planned over the proposed pit areas and sites of planned infrastructure.  A number of holes will also be drilled to monitor water levels around the proposed mine site and open pits as part of larger on-going hydrogeology and hydrology studies. 

Further scout drilling at Beruang Kanan West ("BKW"), Beruang Kanan South ("BKS") and BKM prospects has been deferred until the BKM geotechnical/hydrogeology and BKZ Delineation programs have been completed.  To date, eleven holes (1026.6m metres in total) have been drilled at BKW, to test the copper in soil anomalies and as part of the condemnation drilling program to define a potential site for the Heap Leach Pad at the western valley.  At BKS, a total seven scout drill holes have been completed, for 665.1 metres.  At BKM, a total eleven scout / condemnation drill holes have been completed, for 999.4 metres. Assays are expected in during Q1.   

The drill hole location plan maps and a table of full assay results are provided in Figures 1 & 2 and Table 1 respectively.

 

Peter Bird, Asiamet's Chief Executive Officer commented:

"We are very pleased that ongoing drilling at BKZ continues to yield highly positive results. These additional drill holes have further enhanced our understanding of the dimensions and geometry of the mineralised domains to the point where we have decided to progress to the definition drilling stage and establish initial JORC compliant Resources at both the polymetallic mineralisation and the underlying copper-silver mineralisation at BKZ.

The footprint of mineralisation at BKZ remains open in all directions and ongoing drilling will continue to concurrently infill and expand the deposit. Initial scout drilling has also been completed at BKS and BKW and we look forward to reporting results from drilling on all prospects together with regular updates on the BKM copper project BFS and drilling on our large Beutong Cu-Au porphyry deposit as they become available.

Together with the corporate and project financing initiatives underway it is indeed a busy and exciting time for Asiamet as the Company advances towards its goal of becoming a copper producer at a time when the copper market is forecast to be in deficit and prices are rising."

 

 

Table 1: Recent drill intercepts.

  

 

HOLE ID

 

From

 

To

 

Length

 

Zinc

(%)

 

Lead

(%)

 

Silver

(g/t)

 

Gold

(g/t)

 

Copper

(%)

BKZ33450-01

94.00

96.00

2.00

NSA

NSA

NSA

0.10

0.33

BKZ33450-01

99.00

101.00

2.00

NSA

NSA

NSA

0.14

0.50

BKZ33500-01

54.50

66.50

12.00

4.04

1.66

8.7

0.10

NSA

BKZ33500-01

68.50

72.50

4.00

NSA

NSA

10.9

0.16

0.60

BKZ33500-01

75.50

80.50

5.00

NSA

NSA

20.3

0.19

0.24

BKZ33500-01

84.50

87.50

3.00

NSA

NSA

12.5

0.35

0.65

BKZ33500-01

105.50

117.50

12.00

NSA

NSA

3.6

0.15

0.67

BKZ33550-01

44.00

49.00

5.00

4.36

1.56

45.8

0.11

0.11

BKZ33550-01

49.00

87.00

38.00

NSA

NSA

9.1

0.13

1.26

Including

50.00

53.00

3.00

NSA

NSA

13.7

0.22

1.59

Including

65.00

86.00

21.00

NSA

NSA

10.8

0.14

1.78

Includes

65.00

72.00

7.00

NSA

NSA

15.0

0.19

2.81

Includes

74.00

78.00

4.00

NSA

NSA

12.0

0.14

2.71

BKZ33550-01

90.00

98.00

8.00

NSA

NSA

20.5

0.11

0.39

BKZ33550-01

98.00

116.70

18.70

NSA

NSA

20.5

0.26

NSA

 

Notes: Grade intercepts are calculated as a weighted average grade ≥1.0% Zinc (uncut) for Polymetallic Zone.  Grade intercepts are calculated as a weighted average grade ≥0.2% Copper (uncut) for the Copper-Silver Zone.  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/Fig-1-Location-map-showing-zinc.jpg 

Figure 2: Location map showing copper 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/Fig-2-Location-map-showing-copper.png

Figure 3: High grade copper mineralisation in BKZ33550-01.  The interval 74m - 77m (3m interval) is 3.0% Cu and 13g/t Ag To view the graphic, please open the link here  http://www.asiametresources.com/i/maps/Fig-3-High-grade-copper-mineralisation.png

 

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