Asiamet Resources has received assay results for the final holes drilled in the 2015 resource evaluation program at Beruang Kanan Main (BKM) copper deposit in Central Kalimantan, Indonesia. It is the final set of results required to complete an update of the BKM resource.

Infill drilling within the BK044 zone intersected higher grade copper mineralization and confirmed the continuity of the deposit in this area. Importantly, one hole which intersected higher grade mineralization extended the zone to the north. The BKM deposit remains open in this area and will be followed up as part of feasibility study drilling.

One hole intersected shallow high grade copper mineralization very similar to that reported in a previous hole, 120 metres to the southeast, before entering a barren post mineral dyke at 10.5 metres. The best result was 7.5 metres from 3.0 metres @ 4.11% copper.

Assay results for another hole identified a broad zone of strong copper mineralization from 10 metres depth, which includes several zones of higher grade mineralization. Better results are: 92.0 metres from 10 metres @ 0.90%, including 9.0 metres from 32 metres @ 1.31%, 3.0 metres from 44 metres @ 3.07%, 14.0 metres from 50 metres @ 1.15%, and 20.5 metres from 68 metres @ 1.13%; and 5.0 metres from 107 metres @ 1.16%, including 2.0 metres from 107 metres @ 2.10%.

Another hole intersected a cumulative 77 metre interval with seven individual intersections of moderate grade copper mineralization and bottomed in 3.4 metres of copper mineralization assaying 1.45%. Better results are: 17.1 metres from 90.9 metres @ 1.05%, including 10.0 metres from 92.5 metres @ 1.29%.

The most northerly hole drilled as part of this program intersected a cumulative 52.0 metre interval with four individual intersections of moderate to high grade copper mineralization. Better results are: 30.0 metres from 11.0 metres @ 0.82%, including 12.0 metres from 17.0 metres @ 1.43% Cu; 1.0 metres from 57 metres @ 1.35%, including 5.0 metres from 63.0 metres @ 2.37%; and 7.0 metres from 85.0 metres @ 0.97%, including 2.0 metres from 85.0 metres @ 2.17%.

Final assays have now been received for all 71 drill holes of the 2015 BKM resource evaluation program. The deposit remains open in several areas drilled as part of this program and the potential for the discovery of additional mineralization has also been identified further west of current drilling where outcrops assaying up to 9.6% copper have been sampled. These areas represent priority targets during the next phase of drilling.

With the final assays received, an update of the resource estimate can now be finalized and Asiamet anticipates completion shortly.

Preliminary results for phase 1 metallurgical test work are expected in mid-November and the phase 2 metallurgical program is under way. Three bulk composites from continuous intervals of half drill core were selected to test the leaching characteristics of the high grade, medium grade and low grade material. Upon receipt of the required permits the bulk samples will be exported to Australia for testing as part of the preliminary economic assessment (PEA). Work on the PEA is expected to commence immediately following receipt of the updated resource estimate.

Asiamet’s CEO Tony Manini said, “Asiamet is very pleased with the results of the drilling program completed at BKM in 2015 and we look forward to receiving and reporting the updated resource estimate shortly.

“The combination of excellent copper grades, very shallow mineralization, discrete high grade zones, promising initial metallurgical test work and further growth potential bode well for the project.

“Focus now moves to the mining studies, detailed metallurgical test work and the various other inputs required to complete the PEA. Scout drill testing of nearby targets will continue.”

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