REG - Asiamet Res Ltd - Stunning High Grade Drill Results Expand BKZ

Asiamet ResourcesAnnouncement

14/01/2022 09:25

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RNS Number : 4821Y  Asiamet Resources Limited  14 January 2022

14 January 2022

 

Stunning High Grade Drill Results Expand BKZ Gold-Silver Zone

 

Asiamet Resources Limited ("Asiamet" or the "Company") is pleased to announce
further exceptional high-grade gold-silver and polymetallic results from
ongoing Resource expansion drilling at the BKZ deposit on its 100% owned KSK
Contract of Work in Central Kalimantan, Indonesia.

 

Drill hole BKZ33600-10 returned a stunning intersection of 99 metres @ 2.42g/t
Au, 542g/t Ag, 5.02% Pb including 30 metres @ 6.3g/t Au, 1,188g/t Ag, 13.5%
Pb, 0.14% Cu downdip to the east of previously reported high-grade copper and
zinc-lead-silver-copper-gold mineralisation. This recently discovered
gold-silver zone has now been intersected in six consecutive drillholes over
250 metres of strike outside the existing JORC Resources and remains open to
the east and south.

 

Highlights

 

·    Continuity of exceptional grades and thicknesses confirms significant
Gold-Silver discovery at BKZ

·    Gold-Silver deposit immediately downdip of high-grade Cu-Ag and
Zn-Pb-Ag-Cu-Au polymetallic mineralisation - open to the east and south of
current BKZ Resource

·    All BKZ mineralisation to date is shallow and high value - likely
captured in single large open pit

·    Emerging VHMS district - 10sqkm strong multi-element soils -
potential for multiple deposits

 

Assays received from drill results:

 

Hole BKZ33600-10

99.4 metres @ 2.42g/t Au, 542g/t Ag, 5.02% Pb, 0.24% Cu from 82.5 metres

·    Including 30 metres @ 6.3g/t Au, 1,188g/t Ag, 13.5% Pb, 0.14% Cu from
121.5 metres and 4 metres @ 2.65% Cu from 99.5 metres

 

Hole BKZ33700-09

51.5 metres @ 0.89g/t Au, 70.3 g/t Ag, 0.27% Pb from 235.5 metres downhole

·    Including 26 metres @ 1.07g/t Au, 58g/t Ag 0.2% Pb from 235.5 metres

18.5 metres @ 1.45% Zn, 0.75% Pb, 0.14% Cu, 44.6g/t Ag from 202 metres

 

This newly discovered gold-silver deposit is hosted in intensely altered
silica hematite rock and dips at 30-40 degrees to the east, with a thickness
of 30 to 70 metres and intercept grades between 1 - 5 g/t Au. Mineralisation
has been intersected in six holes to date and shows excellent continuity from
section to section over 250 metres of strike. The Company is very confident
that ongoing drilling is continuing to significantly expand the mineral
inventory and economic value of the KSK licence. An update of the BKZ Resource
will be completed in early 2022.

 

Tony Manini, Asiamet Executive Chairman commented:

"The 2021 drill program has delivered truly spectacular results and added very
substantial value to the KSK project.  This exciting new gold-silver
discovery at BKZ is part of a district scale polymetallic VHMS system which
has now delivered multiple high value deposits of Copper,
Zinc-Lead-Silver-Copper-Gold and Gold-Silver.

Discovering such high-grade deposits close to surface is a very rare
occurrence and opportunity. With the substantial increase in geological
knowledge gained from this program the Company is very confident of further
expanding known mineralisation and discovering additional new deposits
immediately adjacent to the proposed copper mine development at BKM.

The potential for developing multiple mines around centralized infrastructure
provides an exceptional opportunity for multiplying project value over time
and we are looking forward to finalizing the proposed strategic development
partnership for KSK with Delta Dunia and transitioning the Company from a
junior explorer to a copper producer with multiple high value growth options."

 

BKZ Drilling

Following on from the previously reported gold silver mineralisation
intersected in drill holes BKZ33650-09 (29 metres @ 4.59g/t Au, 161g/t Ag) and
BKZ33750-08 (73.4 metres @ 0.65 g/t Au, 64 g/t Ag), (news release 18 November
2021), and BKZ33700-08 (76.5 metres @ 1.86g/t Au 108g/t Ag and 0.61 % Pb) and
BKZ33550-05 (55 metres @ 4.22g/t Au 468g/t Ag and 1.0% Pb) (news release 22
December 2021), the drilling program at BKZ continues to return exceptional
gold-silver results.

Latest assay results from hole BKZ33600-10 and BKZ33700-09 reported 99.4
metres @ 2.42g/t Au, 542gt/ Ag and 5.06% Pb and 51.5 metres @ 0.89g/t Au
70.3g/t Ag and 0.27% Pb respectively, establishing continuity of strong
gold-silver mineralisation over at least 250 metres of strike. Mineralisation
remains open to the east and south. Assays results are pending for hole
BKZ33650-11, two drillholes are in progress and three additional drillholes
are proposed. (Fig 1).

 

Figure 1: BKZ Drillhole Plan showing recent gold silver results open to the
south and east.  To view the image, please click on the following link
https://asiametresources.com/wp-content/uploads/2022/01/Figure-1.jpg
(https://asiametresources.com/wp-content/uploads/2022/01/Figure-1.jpg)

 

Drill hole BKZ33600-10 intersected 99.4 metres @ 2.42g/t Au, 542gt/ Ag and
5.06% Pb from 82.5 metres downhole including a high-grade gold silver interval
of 30 metres @ 6.3g/t Au, 1,188g/t Ag, 13.5% Pb, 0.14% Cu. Gold-silver
mineralisation is predominantly hosted in a silica hematite breccia.

Further up hole, BKZ33600-10 intersected low grade zinc from 76.5-83.5 metres
and 1 metre @ 12.6% Pb from 82.5 metres. This is interpreted to be the lateral
eastern extension of the Upper Polymetallic (Zn-Pb-Ag) Zone.  From 99.5
metres downhole, an intercept of 4 metres @ 2.65% Cu is interpreted to be the
lateral eastern extension of the Lower Copper zone. Further drilling is
proposed to test the open easterly extension of the high grade gold-silver
mineralisation on this section (Fig 2).

 

Figure 2:  BKZ Drill Section 9933600N - New assays results for hole
BKZ33700-10. To view the image, please click on the following link
https://asiametresources.com/wp-content/uploads/2022/01/Figure-2.jpg
(https://asiametresources.com/wp-content/uploads/2022/01/Figure-2.jpg)

 

Drill hole BKZ33700-09 drilled east of previously reported hole BKZ33700-08
(76.5m @ 1.86 g/t Au, 108g/t Ag, 0.61% Pb) intersected 18.5 metres @ 1.45% Zn
0.75% Pb, 0.14% Cu 44.6g/t Ag in the Upper Polymetallic (Zn-Pb-Ag) Zone from
202metres followed by a wide interval of gold-silver mineralisation assaying
51.5 metres @ 0.89g/t Au, 70.3 g/t Ag, 0.27% Pb including 26 metres @ 1.07g/t
Au, 58g/t Ag 0.2% Pb from 235.5 metres. This intercept is 100 metres down dip
of hole BKZ33700-08 and has significantly extended the deposit of gold silver
mineralisation to the east on this section (Fig 3). Mineralisation remains
open to the east.

 

Figure 3:  BKZ Drill Section 9933700N - New assays results for hole
BKZ33700-09. To view the image, please click on the following link
https://asiametresources.com/wp-content/uploads/2022/01/Figure-3.jpg
(https://asiametresources.com/wp-content/uploads/2022/01/Figure-3.jpg)

 

Qualified Persons

Data disclosed in this press release has been reviewed and verified by ARS's
qualified person, Patrick Creenaune, Chief Geologist, FAIG (Fellow Australian
Institute of Geoscientists), an advisor to the Company and a Qualified Person
within the meaning of JORC (2012) and for the purposes of the AIM Rules for
Companies.

 

ON BEHALF OF THE BOARD OF DIRECTORS

Tony Manini, Executive Chairman

For further information, please contact:

-Ends-

Tony Manini
Executive Chairman, Asiamet Resources Limited

Email: tony.manini@asiametresources.com
(mailto:tony.manini@asiametresources.com)

 

Investor Enquiries

Sasha Sethi

Telephone: +44 (0) 7891 677 441

Email: Sasha@flowcomms.com (mailto:Sasha@flowcomms.com) /
info@asiametresources.com

Asiamet Resources Nominated Adviser
RFC Ambrian Limited

Bhavesh Patel / Stephen Allen

Telephone: +44 (0)20 3440 6800

Email: Bhavesh.Patel@rfcambrian.com (mailto:Bhavesh.Patel@rfcambrian.com)  /
Stephen.Allen@rfcambrian.com (mailto:Oliver.Morse@rfcambrian.com)

 

Optiva Securities Limited
Christian Dennis

Telephone: +44 20 3137 1903

Email: Christian.Dennis@optivasecurities.com
(mailto:Christian.Dennis@optivasecurities.com)

Follow us on twitter @AsiametTweets

 

 

 

 

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