17 April 2024
BKM High Grade Copper Rock
Sample Results
Asiamet Resources Limited ("Asiamet"
or the "Company") is pleased to report the results of recent grab
samples collected during due diligence site visits to the BKM
project area in Central Kalimantan, Indonesia ("BKM" or the "BKM
Copper Project"), within the KSK licence area.
During Q1 2024, Asiamet hosted
several site visits to its KSK licence area as part of due
diligence processes by third parties in respect of proposals to
either acquire or partner with the Company. On one of these visits,
four surface grab samples were collected for confirmatory
analysis.
Highlights
· Rock Sample
Results: two samples collected from
surface in the central area of the BKM deposit, assayed
24.0% and 23.3% Copper. Two additional samples
collected from an outcrop of the nearby BKZ deposit assayed
7.20% Zn, 5.60% Pb, 74g/t Ag, 0.21% Cu, 0.16g/t Au and 25.6% Zinc, 16.1% Lead, 75g/t Ag, 0.43% Cu and 0.57g/t Ag.
· Implications: These high-grade
results are consistent with previous surface sampling and reinforce
the upside potential of both the BKM and BKZ deposits. The BKM
samples were taken from within the central location of the pit
where the initial "Starter Pits" are to be mined in the current
mine schedule. These starter pits have been designed to mine high
soluble copper grade material early in the mine life.
BKM
Site Visit and Grab Sample Results
During Q1 2024, Asiamet hosted due
diligence site visits to KSK for third parties in respect of
proposals to either acquire or partner with the Company. There can
be no guarantee that any offer for or partnership with the Company
will ultimately result from the site visits at this stage, and
further announcements will be made in due course, as
appropriate.
Grab samples were taken by one of
the parties and a request made for Asiamet to arrange detailed
analysis of the samples at an accredited laboratory in Indonesia.
Two surface samples (KSK5 and KSK6) were collected from the surface
of the BKM deposit and two (KSK11 and KSK12) from the surface of
BKZ. The BKM samples were collected from the central area of the
proposed mine, whilst the BKZ samples were taken from a surface
outcrop of the deposit.
Key element assay results are
provided in Table 1 below and maps of the sample locations are
provided in Figures 1 and 2. Figure 1 also shows the location of
diamond drill holes completed across both deposits and contours for
the proposed BKM open pit mine.
Assays results align with the
results of previous sampling campaigns at both the BKM and BKZ
deposits.
Table 1: BKM & BKZ Deposit - Surface Rock Sample Assay
Results
Figure 1: Map
of Grab Sample Locations - BKM
Figure 2: Map of Grab Sample Location - BKZ
Darryn McClelland, Chief
Executive Officer, commented:
"The recent due diligence site visits have been very positive
with good feedback received from all groups. The assay results from
these grab samples are outstanding and, specifically for BKM,
provide encouragement for the Company in the fact that samples of
this grade are found at surface. Our current mine plan targets
mining of high grade starter pits from the BKM resource delivering
high grade feed early in the life of the project allowing strong
ramp up of copper production.
As
the copper market faces supply challenges and demand strengthens,
the potential economic upsides of our projects continue to improve.
With our high-quality JORC compliant copper resources at both KSK
and Beutong projects, coupled with a pathway to first copper
cathode production, Asiamet is in a strong position to capitalise
on these improving fundamentals for copper."
The information contained within this announcement is deemed
by the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014, as it forms part of
United Kingdom domestic law by virtue of the European Union
(Withdrawal) Act 2018, as amended.
ON
BEHALF OF THE BOARD OF DIRECTORS
Darryn McClelland, Chief Executive
Officer
-Ends-
For further information, please
contact:
Darryn McClelland
Chief
Executive Officer, Asiamet Resources Limited
Email: darryn.mcclelland@asiametresources.com
Tony
Manini
Executive Chairman,
Asiamet Resources Limited
Email: tony.manini@asiametresources.com
Investor Enquiries
Sasha Sethi
Telephone: +44 (0) 7891 677
441
Email: Sasha@flowcomms.com
/ info@asiametresources.com
Nominated & Financial Adviser
Strand Hanson Limited
James Spinney / James Dance / Rob
Patrick
Telephone: +44 20 7409
3494
Email: asiamet@strandhanson.co.uk
Broker
Optiva Securities Limited
Christian Dennis
Telephone: +44 20 3137
1903
Email: Christian.Dennis@optivasecurities.com
Follow us on twitter @AsiametTweets
FORWARD-LOOKING
STATEMENT
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.