REG - Asiamet Resources Ld - BKM High Grade Copper Rock Sample Results

Asiamet ResourcesAnnouncement

17/04/2024 07:00

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RNS Number : 9409K  Asiamet Resources Limited  17 April 2024

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
(mailto:darryn.mcclelland@asiametresources.com)

 

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

Nominated & Financial Adviser
Strand Hanson Limited

James Spinney / James Dance / Rob Patrick

Telephone: +44 20 7409 3494

Email: asiamet@strandhanson.co.uk (mailto:asiamet@strandhanson.co.uk)

 

Broker

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

 

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.

 

 

 

 

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