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Asiamet BKZ Resource Drilling Continues to Intersect High Grade Mineralisation

Asiamet Resources Limited ("ARS" or the "Company") is pleased to report that ongoing Resource delineation drilling at the BKZ prospect ("BKZ") continues to intersect high-grade polymetallic and copper - silver mineralisation as predicted.  The BKZ prospect is located in Central Kalimantan (Indonesia) on the Kalimantan Surya Kencana ("KSK") 6th Generation Contract of Work ("CoW"), less than 800 metres from the BKM copper project which is at BFS stage.

Highlights of recent results include:

  • Broad intervals of high-grade massive sulphide mineralisation in the upper polymetallic zone, including 17.0m at 11.4% Zinc, 6.0% Lead and 383g/t Silver and 30.0m at 6.0% Zinc, 4.0% Lead and 62g/t Silver
  • Broad interval of high-grade copper-silver mineralisation in the lower zone, including 29.5m at 1.86% Cu and 50g/t Ag
  • Assay results confirm up to 30.7% zinc, 17.7% lead, 158g/t silver over 1-metre sample intervals in the polymetallic zone and up to 6.6% copper over 1-metre sample intervals in the interpreted "Feeder Structure" in the Lower Zone
  • A Maiden Resource estimate for both mineralised domains at the BKZ deposit is being prepared by Hackman & Associates Pty Ltd and is expected to be completed in May 2018

 

Highlights of the latest batch of drill results received include: 

BKZ33700-06     17.0m at 11.4% Zn, 6.0% Pb, 383g/t Ag, 0.11% Cu and 0.16g/t Au (from 34.0m)

                           Including 5.0m at 21.4% Zn, 10.7% Pb, 137g/t Ag, 0.14% Cu and 0.29g/t Au (from 45.0m)

                           Final 1.0m assayed 25.3% Zn, 7.2% Pb, 130g/t Ag, 0.18% Cu and 0.26g/t Au (from 71.0m)

 

BKZ33700-05     30.0m at 6.0% Zn, 4.0% Pb, 62g/t Ag, 0.19% Cu and 0.79g/t Au (from 4.0m)

                           Including 2.0m at 10.1% Zn, 9.3% Pb, 177g/t Ag, 0.52% Cu and 0.94g/t Au (from 4.0m)

                           Including 13.0m at 8.2% Zn, 5.5% Pb, 56g/t Ag, 0.19% Cu and 0.49g/t Au (from 18.0m)

                    43.0m at 4.4% Zn, 0.9% Pb, 16g/t Ag, 0.24% Cu and 0.40g/t Au (from 39.0m)

                           Including 7.0m at 8.2% Zn, 2.7% Pb, 24g/t Ag, 0.08% Cu and 0.60g/t Au (from 45.0m)

                           Including 6.0m at 10.6% Zn, 2.0% Pb, 45g/t Ag, 0.98% Cu and 0.40g/t Au (from 56.0m)

 

BKZ33600-04     29.5m at 1.86% Cu, 50g/t Ag, 0.15g/t Au (from 58.0m)

                           Including 18.0m at 2.64% Cu, 24g/t Ag, 0.15g/t Au (from 63.0m)

 

BKZ33600-05     9.5m at 5.1% Zn, 0.75% Pb, 18g/t Ag, 0.12% Cu and 0.10g/t Au (from 36.5m)

                           25.85m at 1.36% Cu, 2.7% Pb, 20g/t Ag, 0.15g/t Au (from 75.15m)

                           Including 8.0m at 1.70% Cu, 12g/t Ag, 0.16g/t Au (from 82.0m)

                           Including 3.0m at 3.40% Cu, 6.0% Pb, 57g/t Ag, 0.21g/t Au (from 94.0m)

 

The Maiden Resource drilling programme at BKZ continues to provide confidence in the strike, dip and internal continuity of the high-grade polymetallic and underlying copper-silver mineralisation.  A total 3,416 metres in thirty-six holes were completed for the first of a two-phase drilling campaign at BKZ, where mineralisation continues to define the dimensions of the two mineralised domains at BKZ, the footprint of which still remains open in several directions.  The analysis from the final five drill holes is expected in March 2018, and the Company is on track to report a Maiden Resource estimate for the BKZ deposit in May 2018, which is being carried out by Independent consulting geologist Duncan Hackman of Hackman & Associates Pty Ltd.

 

Peter Bird, Asiamet's Chief Executive Officer commented:

"The excellent results generated from our drilling programmes at both the BKM and BKZ projects over the past three years clearly demonstrate the intrinsic value of Asiamet's project portfolio.  This latest batch of results from Resource delineation drilling at BKZ demonstrate excellent internal continuity of both the upper high-grade polymetallic and the underlying copper-silver mineralisation and increase the Company's confidence in defining an initial high value polymetallic deposit with potential to leverage off the proposed BKM mining infrastructure. With the recent financing completed we look forward to reporting further results from the BKZ infill drilling programme and the initial Resource in May, together with further results from the final stages of the BKM bankable feasibility study and first results from our current programme of drilling and metallurgical testwork underway at the Beutong porphyry Cu-Au deposit."

                                          

Drill Hole Summary

The fifth hole on section line BKZ33700 was drilled to confirm continuity of mineralisation in BKM33700-03 (101.3m End of Hole "EOH"), which intersected 30.0m at 8.3% zinc, 3.3% lead, 39g/t silver and 0.51g/t gold from 14m (refer ARS Press Release October 18, 2017). BKZ33700-05 (94.2m EOH) was drilled eastward and intersected a broad zone of moderate to high-grade polymetallic mineralisation from 4.0m depth comprising quartz-sulphide veins and massive sulphides containing sphalerite (zinc), galena (lead), chalcopyrite (copper) and pyrite. The sixth hole on section line BKZ33700 is a scissor hole to BKM33700-02 (113.9m EOH), drilled to confirm continuity of high-grade mineralisation that included 39m at 7.3% zinc, 2.3% lead, 33g/t silver and 0.33g/t gold from 41m (refer ARS Press Releases October 3, 2017). BKZ33700-06 (72.0m EOH) was drilled eastward and intersected a broad zone of moderate to high-grade polymetallic mineralisation from 34.0m depth comprising quartz-sulphide veins and massive sulphides containing sphalerite (zinc), galena (lead), chalcopyrite (copper) and pyrite.  This hole intersected some of the highest grade polymetallic assays seen to date, with up to 30.7% zinc, 17.7% lead and 158g/t silver in a 1-metre sample interval. 

The fourth hole on section line BKZ33600 was drilled parallel to BKZ33600-02 (89.6m EOH), which intersected a broad zone of copper-silver mineralisation assaying 29.3m at 1.52% copper, 0.15g/t gold and 40.1g/t silver from 59.0m and includes 19.0m at 1.97% copper, 0.14g/t gold and 19.0g/t silver from 61.0m depth (refer ARS Press Release November 13, 2017).  BKZ33600-04 (92.1m EOH) was targeting the area below the hematite rich zone, but unfortunately the rig was unable to breach this intensely silicified rock.  However, BKZ33600-04 did intersect higher grade copper-silver mineralisation than was reported in BKZ33600-02, the interpreted feeder zone comprising a dense stockwork of quartz-sulphide and sulphide veins containing bornite, chalcopyrite and pyrite.  Individual 1-metre sample intervals assayed up to 6.6% copper within the higher grade interval from 63m to 81m depth.  The fifth hole BKZ33600-05 (115.8m EOH) was also drilled east, but at a shallower angle.  This hole also intersected the interpreted feeder zone, comprising a dense stockwork of quartz-sulphide and sulphide veins containing bornite, chalcopyrite, galena and pyrite.  This hole also terminated in the intensely silicified and hematite altered breccia, with assays confirming gold-silver mineralisation. 

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

 

 

Table 1: Recent drill intercepts.

 

HOLE ID

 

From

 

To

 

Length

 

Zinc

(%)

 

Lead

(%)

 

Silver

(g/t)

 

Gold

(g/t)

 

Copper

(%)

BKZ33700-05

4.00

34.00

30.00

6.01

4.05

62.17

0.79

0.19

Including

4.00

6.00

2.00

10.15

9.29

176.95

0.94

0.52

Including

18.00

31.00

13.00

8.18

5.48

55.69

0.49

0.19

BKZ33700-05

39.00

82.00

43.00

4.40

0.86

15.71

0.40

0.24

Including

45.00

52.00

7.00

8.25

2.69

24.27

0.60

0.08

Including

56.00

62.00

6.00

10.61

2.02

45.20

0.40

0.98

BKZ33700-06

34.00

51.00

17.00

11.40

6.03

383.15

0.16

0.11

Including

45.00

50.00

5.00

21.40

10.75

136.66

0.29

0.14

BKZ33700-06

71.00

72.00

1.00

25.30

7.17

130.00

0.26

0.18

BKZ33600-04

33.60

40.00

6.40

1.96

0.20

6.40

-

-

BKZ33600-04

58.00

87.50

29.50

-

-

50.36

0.15

1.86

Including

63.00

81.00

18.00

-

-

24.37

0.15

2.64

BKZ33600-04

87.50

92.10

4.60

-

-

121.05

0.21

-

BKZ33600-05

36.50

46.00

9.50

5.13

0.75

18.03

0.10

0.12

BKZ33600-05

75.15

101.00

25.85

-

2.66

19.88

0.15

1.36

Including

82.00

90.00

8.00

-

0.90

12.34

0.16

1.70

Including

94.00

97.00

3.00

-

5.98

56.93

0.21

3.40

BKZ33600-05

101.00

115.80

14.80

-

-

36.99

0.35

-

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 image, please click on the link: http://www.asiametresources.com/i/maps/Fig1-mar192018-NR.png

 

 

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