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Delineation Drilling Programme at BKZ Intersects Further High-Grade Zinc, Lead, Copper, Silver

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 high-grade polymetallic and copper mineralisation at BKZ.

Highlights of recent results include:

·   Delineation drilling programme at BKZ confirms further high-grade massive sulphide or vein style polymetallic mineralisation and copper-silver mineralisation, with both systems remaining open in several directions

·    New assays confirm further high-grade copper-silver mineralisation within the interpreted "Feeder Structure" at BKZ, with up to 2.7% copper over 1-metre sample intervals

·    Assay results from the three holes drilled at the northern area of BKZ confirm further high-grade polymetallic mineralisation, with up to 25.5% zinc, 10.0% lead, 188g/t silver and 2.8g/t gold over 1-metre sample intervals.

·    Analysis from the final nine holes are pending with final assay results to be released as they are delivered

·    Duncan Hackman of Hackman & Associates Pty Ltd has commenced work to complete a maiden Resource estimate to include both mineralised domains at the BKZ deposit

 

Highlights of the latest batch of drill results received include: 

BKZ33550-03     28.0m at 0.93% Cu, 14g/t Ag, 0.15g/t Au (from 50.0m)

                           Including 8.0m at 1.21% Cu, 24g/t Ag, 0.23g/t Au (from 51.0m)

                           Including 2.0m at 2.46% Cu, 14g/t Ag, 0.12g/t Au (from 61.0m)

                           Including 2.0m at 1.92% Cu, 17g/t Ag, 0.13g/t Au (from 66.0m)

BKZ33750-05     13.0m at 6.0% Zn, 2.9% Pb, 203g/t Ag, 0.19% Cu and 0.31g/t Au (from 29.0m)

                           Including 5.0m at 11.4% Zn, 5.9% Pb, 512g/t Ag, 0.30% Cu and 0.60g/t Au (from 29.0m)

                           6.5m at 0.86% Cu, 15g/t Ag, 0.13g/t Au (from 47.0m)

                           Including 3.5m at 1.37% Cu and 22g/t Ag (from 50.0m).  Hole terminated in 1.05% Cu

BKZ33750-06     9.0m at 13.6% Zn, 5.9% Pb, 217g/t Ag, 0.24% Cu and 0.83g/t Au (from 22.5m)

                           Including 3.0m at 21.7% Zn, 9.1% Pb, 177g/t Ag, 0.28% Cu and 1.63g/t Au (from 26.5m)

BKZ33800-01     6.2m at 12.4% Zn, 4.8% Pb, 65g/t Ag, 0.10% Cu and 0.49g/t Au (from 43.0m)

                           Includes 4.0m at 18.0% Zn, 7.1% Pb, 79g/t Ag, 0.14% Cu and 0.69g/t Au (from 45.0m)

                           6.0m at 2.7% Zn, 1.0% Pb, 7g/t Ag and 0.51% Cu (from 57.0m)

The focus of the 2017/18 maiden Resource drilling programme at BKZ was to test the strike, dip and continuity of the high-grade polymetallic and underlying copper-silver mineralisation, located north and south of the previously identified polymetallic mineralisation in drill hole BKZ-1.  The Company has completed the first round of infill drilling at BKZ, for a total 3,416 metres in thirty-six holes.  Drilling has successfully tested the upper zone of polymetallic massive sulphide and vein style mineralisation and the lower zone of vein and massive sulphide hosted copper-silver mineralisation.      

 

Drilling Details

The third infill hole on section line BKZ33550 was drilled eastward to test the continuity of mineralisation in hole BKZ33550-02 (122.2m End of Hole ("EOH")), which intersected 7.1m at 1.87% copper, 14g/t silver, 0.13g/t gold from 60.9m and 9.0m at 3.63% copper, 55g/t silver, 0.16g/t gold from 84.0m (refer ARS Press Release February 6, 2018).  BKZ33550-03 (122.3m EOH) intersected a narrow upper zone of moderate grade, vein-style polymetallic mineralisation starting from 48.0m depth, underlain by multiple zones of moderate to high-grade copper-silver mineralisation starting from 50.0m depth and hosted in massive sulphides and quartz-sulphide veins containing bornite, chalcopyrite and pyrite. The hole was terminated due to rock hardness and rig capacity, with the final 25.0m comprising a strongly silicified and hematite altered breccia, which assayed 0.16g/t gold and 14g/t silver. 

The fourth hole on section line BKZ33750 was drilled eastward, BKZ33750-04 (69.5m EOH) intersected semi-massive sphalerite (zinc), galena (lead), chalcopyrite (copper) and pyrite mineralisation from 59.0m depth.  Hole BKZ33750-05 (53.5m EOH) drilled north from the same pad to confirm mineralisation extends to section line BKZ33800.  This hole successfully intersected high grade polymetallic mineralisation, underlain by moderate to high-grade chalcopyrite-bornite mineralisation and the hole terminated in high-grade copper mineralisation.  BKZ33750-06 (53.6m EOH) drilled to the west-northwest from the same pad, also to confirm mineralisation extends to section line BKZ33800.  This hole successfully intersected high-grade polymetallic mineralisation. 

The first hole on section line BKZ33800 was drilled westward to confirm continuity of mineralisation between section lines BKM33750 and BKM33800, where hole BKZ33750-03 intersected a broad zone of polymetallic mineralisation from 1.7m depth hosted in quartz-sulphide veins to semi-massive sulphides (refer ARS Press Release November 21, 2017).  BKZ33800-01 (93.3mEOH) was collared 50m north of BKM33750-03 and intersected semi-massive sphalerite (zinc), galena (lead), chalcopyrite (copper) and pyrite mineralisation from 43.0m depth.  A drill pad was constructed 50 metres west of BKZ33800-001, where BKZ33800-02 was drilled east (65.0m EOH) and BKZ33800-03 drilled vertical (50.0m EOH), but both holes failed to intersect significant polymetallic mineralisation.  The mineralisation on this section line remains open to the east and north.

An exploratory hole was drilled 200m north-northeast of BKM33800-01, but failed to intersect significant mineralisation.  This hole, BKZ34000-01 (57.3m EOH), intersected propylitic altered volcaniclastics and polymict breccia locally cut by dykes of microdiorite and diorite porphyry.  Based on recent 3-D modelling of the polymetallic mineralisation at BKZ, it is now thought this hole was collared too far east and outside of the mineralised domain. 

 

Summary

Drilling has significantly enhanced our understanding of the dimensions of the two mineralised domains discovered at BKZ, the footprint of which remains open in several directions.  The most recently completed holes on section lines BKZ33700 and BKZ33650 intersected broad zones of polymetallic mineralisation and observed by the Company's geologists (Figure 2).  Analysis from the final nine holes are pending, which is being carried out in Jakarta by PT Intertek Utama Services with sample checks by PT Geoservices.  The final assay results for these holes are expected in the coming weeks and independent consulting geologist Duncan Hackman of Hackman & Associates Pty Ltd has commenced work to complete the maiden Resource estimate for the BKZ deposit.

Based on results to date, additional exploration and drilling are proposed at BKZ and southern BKM polymetallic prospects, which is planned after the maiden Resource estimate has been completed.   At BKZ the polymetallic and copper-silver mineralisation remains open in several directions and additional zinc in soil anomalies remain untested.  At southern BKM prospect the Company plans detailed mapping in the area where a rock chip sample collected from a large boulder of massive sulphides assayed 35.6% Zinc, 26.2% Lead, 2.94% Copper, 1.0g/t Gold and 3440g/t Silver (refer ARS Press Releases June 9, 2017), to define drill targets for immediate testing. 

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

 

Peter Bird, Asiamet's Chief Executive Officer commented:

"This first batch of infill drill holes has exceeded our expectations with strong high-grade polymetallic intersections returned from both the upper zinc-rich polymetallic zone and the high-grade copper-silver zone immediately beneath. The potential of BKZ is compelling and certainly more so with both systems remaining open in several directions. Consistently obtaining exceptional high-grade drilling results such as these from BKZ provides us with continued confidence that the deposit may become a standalone operation which would be very likely to benefit from sharing infrastructure with any proposed mine development next-door at the BKM copper project.

Based upon the core logging of further holes completed and currently submitted for assay we remain optimistic of the subsequent assays to come and look forward to delivering a maiden Resource at BKZ to add measurable value to the Company through this relatively recent but highly attractive project."

 

Table 1: Recent drill intercepts.

 

HOLE ID

 

From

 

To

 

Length

 

Zinc

(%)

 

Lead

(%)

 

Silver

(g/t)

 

Gold

(g/t)

 

Copper

(%)

BKZ33550-03

48.00

50.00

2.00

4.35

0.49

189.00

-

-

BKZ33550-03

50.00

78.00

28.00

-

-

13.72

0.15

0.93

Including

51.00

59.00

8.00

-

-

23.71

0.23

1.21

Including

61.00

63.00

2.00

-

-

13.85

0.12

2.46

Including

66.00

68.00

2.00

-

-

16.85

0.13

1.92

BKZ33550-03

84.00

89.00

5.00

-

-

13.24

0.17

0.44

BKZ33550-03

97.30

122.30

25.00

-

-

14.42

0.16

-

BKZ33750-04

59.00

67.00

8.00

4.07

1.79

40.93

-

-

Including

59.00

61.00

2.00

11.14

5.11

97.45

-

-

BKZ33750-05

29.00

42.00

13.00

5.97

2.93

202.72

0.31

0.19

Including

29.00

34.00

5.00

11.41

5.95

511.62

0.60

0.30

BKZ33750-05

47.00

53.50

6.50

1.18

-

15.16

0.13

0.86

Including

50.00

53.50

3.50

0.78

-

22.19

-

1.37

BKZ33750-06

22.50

31.50

9.00

13.61

5.91

217.00

0.83

0.24

Including

26.50

29.50

3.00

21.67

9.09

177.00

1.63

0.28

BKZ33750-06

48.50

50.50

2.00

2.75

-

-

-

-

BKZ33800-01

43.80

50.00

6.20

12.36

4.81

65.36

0.49

0.10

Including

45.00

49.00

4.00

17.98

7.08

79.28

0.69

0.14

BKZ33800-01

57.00

63.00

6.00

2.74

0.95

7.13

-

0.51

BKZ33800-02

No Significant Assays

BKZ33800-03

No Significant Assays

BKZ34000-01

No Significant Assays


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 polymetallic mineralised domain is interpreted to have an azimuth of 340 degrees and a dip of -25 degrees to the northeast. Orientation of the copper mineralised domain is interpreted to have an azimuth of 340 degrees, a dip of -25 degrees to the northeast and plunging south-southeast.

 

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/Figure-1-feb-22-2018.png

Figure 2: (Top) massive sulphide mineralisation in BKZ33700-06 (46.35-50.50m), comprising pyrite-sphalerite-galena. To view the graphic, please open the link here http://www.asiametresources.com/i/maps/Figure-2-feb-22-2018.jpg

Figure 2: (Bottom) massive sulphide mineralisation in BKZ33700-06 (28.00-31.95m), comprising pyrite-sphalerite-galena. To view the graphic, please open the link here http://www.asiametresources.com/i/maps/Figure-3-feb-22-2018.jpg

 

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