Asiamet Discovers High Grade Copper Mineralisation at BKW Prospect

Systematic mapping and rock chip sampling was recently completed by Asiamet Resources Limited (“Asiamet” or the “Company”) in the northern part of the Beruang Kanan West (“BKW”) prospect in Central Kalimantan, Indonesia. BKW is located approximately 1km west of Asiamet’s core Beruang Kanan Main (“BKM”) Copper Project where bankable feasibility studies are well advanced. Results received to date at BKW confirm a copper in soil anomaly in the northern part of BKW is associated with a zone of quartz-chalcocite-bornite veins hosted in a polymict breccia (Figure 1). Highlights from this recent work include:

- A rock grab sample collected from a 30-cm wide quartz -sulphide vein cutting sericite altered breccia assayed 26.1% Copper and 57.1g/t Silver

- Approximately 200m west is a sericite altered breccia cut by quartz-bornite-chalcocite-pyrite veins, with individual rock chip grab samples assaying up to 4.1% Copper.

Discovery of these copper sulphide bearing outcrops within a zone of mineralised quartz veins covers 600m x 150m in the northern part of BKW and overlaps with a small portion of the broad copper in soil anomaly delineated at BKW. There were 147 rock chip grab samples collected and a summary of the significant assays from this program are detailed in Table 1. The true width and thickness of the high-grade copper mineralisation has not yet been determined and follow up mapping and sampling will be undertaken. The location and style of the BKW mineralisation is similar to that identified at BKM and represents a priority target for drill testing. The mapping area is shown on the project location map in (Figure 2).

Asiamet geologists will soon commence mapping and sampling the largest and strongest copper in soil anomaly at BKW measuring 1.7km x 1km, with the goal of defining near surface copper mineralisation for immediate drill testing.


Peter Bird, Asiamet’s Chief Executive Officer Commented

“Over the past three years the team at Asiamet have rapidly advanced a new copper discovery at BKM from early exploration through to feasibility stage. Looking forward we are now focused on completing the feasibility study with the objective of then moving this asset through to the development phase.

"As previously highlighted, the BKM discovery is not an isolated occurrence but rather the first prospect with defined Resources within a large, approximately 15sqkm area, of anomalous copper mineralisation in rocks and soils. These recent results from the northern part of BKW coupled with the fact that the mineralisation is similar in style to BKM highlights the significant potential for the discovery of additional copper mineralisation that exists in the greater BK area.

"This area and any others generated from ongoing mapping and sampling at BKW and Beruang Kanan South ('BKS') represent high priority drill targets for testing over the coming months. Any targets with potential to add mine life and enhance the already attractive economics (outlined in the PEA) of BKM will be rapidly advanced in order to achieve initial Resource status. We look forward to reporting the results of this exciting exploration work over the coming months.”


Table 1: Rock chip grab sample results from northern BKW surface sampling program

         Interval  Rock  Sample
Location   Sample  Type      No  Cu (ppm)  Ag (ppm)  Pb (ppm)  Zn (ppm)
BKM-NW	Grab	Outcrop	111107	20	0.60	797	2670
BKM-NW	Grab	Outcrop	111108	66	<0.5	31	4250
BKM-NW	Grab	Outcrop	111112	90	1.00	237	1450
BKM-NW	Grab	Outcrop	111123	32	9.40	3260	327
BKM-NW	Grab	Outcrop	111127	702	0.70	1580	863
BKM-NW	Grab	Outcrop	111149	8160	10.80	30	6070
BKW	Grab	Outcrop	111165	214	<0.5	386	1550
BKW	Grab	Outcrop	111169	193	1.10	156	1860
BKW	Grab	Outcrop	111175	70	0.70	394	1110
BKW	Grab	Outcrop	111177	48	0.70	344	5890
BKW	Grab	Outcrop	111181	2150	5.10	194	1120
BKW	Grab	Outcrop	111184	2140	2.20	174	58
BKW	Grab	Outcrop	111194	1390	<0.5	260	795
BKW	Grab	Outcrop	111224	63	<0.5	1440	3210
BKW	Grab	Outcrop	111231	40700	17.30	55	181
BKW	Grab	Outcrop	111232	13700	6.70	129	77
BKW	Grab	Outcrop	111233	1480	1.50	46	67
BKW	Grab	Outcrop	111238	261000	56.60	88	2220
BKW	Grab	Outcrop	111239	23800	7.00	41	191
BKW	Grab	Outcrop	111240	78	<0.5	178	1310
BKW	Grab	Outcrop	111246	276	<0.5	746	1440
BKW	Grab	Outcrop	111268	143	1.20	1690	674

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.


ON BEHALF OF THE BOARD OF DIRECTORS

Peter Bird
Deputy Chairman and CEO



For further information, please contact:

Peter Bird, Deputy Chairman and CEO
Asiamet Resources Limited
Telephone: +61 3 8644 1300
Email: peter.bird@asiametresources.com

Tony Manini, Executive Chairman
Asiamet Resources Limited
Telephone: +61 3 8644 1300
Email: tony.manini@asiametresources.com

FlowComms Limited
Sasha Sethi
Telephone: +44 (0) 7891 677 441
Email: Sasha@flowcomms.com

Asiamet Resources Nominated Adviser
RFC Ambrian Limited
Andrew Thomson / Stephen Allen
Telephone: +61 8 9480 2500
Email: Andrew.Thomson@rfcambrian.com / Stephen.Allen@rfcambrian.com

Optiva Securities Limited
Christian Dennis
Telephone: +44 20 3137 1903
Email: Christian.Dennis@optivasecurities.com



This news release contains forward-looking statements that are based on the Company’s current expectations and estimates. Forward-looking statements are frequently characterised by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “suggest”, “indicate” and other similar words or statements that certain events or conditions “may” or “will” occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such factors include, among others: the actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; possible variations in ore grade or recovery rates; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing; and fluctuations in metal prices. There may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.


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Figure 1: Rock chip grab samples from northern part of BKW assayed 26.1% Cu (Left) and 4.1% Cu (Right).

https://www.fscwire.com/sites/default/files/NR/792/17752_ARSING2.png
Figure 2: Location map showing Cu in Soils in the BK District. Coincident Cu in soil and rock chip anomalies occur at both BKW prospect and BKM copper deposit, with similar styles of copper mineralisation in both areas.