Asiamet extends BKZ discovery

Follow-up scout drilling at the BKZ polymetallic prospect at Asiamet Resources Kalimantan Surya Kencana (KSK) 6th Generation Contract of Work (CoW), in Central Kalimantan, Indonesia, continues to intersect further intervals of thick, near-surface high-grade base and precious metal-rich mineralisation.

All eight holes for 790 metres drilled to test depth extensions of a massive sulphide zone which outcrops over an area of 150 x 100 metres have intersected mineralisation and the deposit remains open laterally and at depth.

Highlights of the latest batch of results are: 30 metres from 14 metres @ 8.3% zinc, 3.3% lead, 39 g/t silver and 0.51 g/t gold, including 13 metres from 15 metres @ 12.5% zinc, 4.7% lead, 56 g/t silver and 0.58 g/t gold and 3 metres from 39 metres @ 13.2% zinc, 6.6% lead, 30 g/t silver and 0.26 g/t gold; 8.3 metres from 1.3 metres @ 4.0% zinc, 1.9% lead, 42 g/t silver and 0.19 g/t gold; and 1.0 metres from 48.5 metres @ 12.7% zinc, 4.2% lead and 27 g/t silver.

These assay results now confirm at least 100 metres of continuity to the thick, high-grade polymetallic mineralisation. Extensive further drilling is still required to determine the ultimate size and geometry of the mineralisation and advance the discovery to an initial resource.

BKZ is approximately 800 metres north of Asiamets feasibility study stage BKM Copper Project and within 150 metres of the main access road leading to BKM.

Asiamets CEO Peter Bird said, We are extremely pleased to report that ongoing scout drilling at the BKZ polymetallic discovery, continues to deliver outstanding results and further progresses our parallel objective of unlocking the substantial upside potential we believe lies within the highly prospective but very under-explored KSK CoW.

The high-grade polymetallic mineralisation we have seen in drilling at BKZ to date is of similar grades to those reported at some of the highest quality base metals mines globally. The potential to share some of the infrastructure proposed for the development of the BKM Copper Project provides the company with an exceptional value adding opportunity at BKZ and other nearby prospects such as BK South and BK West.

Although it is early in the exploration stage at BKZ, results are first-rate and beyond expectations. At this point, we continue the step-out drilling to expand the mineralisation in all directions which we hope will continue to intersect potentially near-surface high-value mineralised material at which point we may be encouraged to take a decision to advancing exploration work at BKZ to the delineation of a maiden resource.

Asiamet has this week announced the appointment of Ausenco Limited, an international engineering, construction and project management company as the primary process engineering consultant for the BKM feasibility study. Ausenco brings extensive experience in mineral project development globally, with particular expertise in Indonesia and in heap-leach – SX-EW copper recovery.

The scope of work to be covered by Ausenco includes the design, engineering and cost estimating activities for the process area facilities required at BKM. The process area facilities include the ROM stockpile; crushing and conveyor transportation circuit; agglomeration and stacking circuit; heap- leach pads, solution ponds, neutralisation plant and solution transportation systems; solvent extraction plant; electro-winning plant; and the related utilities (water and power) and waste stream requirements.

Ausenco will also oversee the required geotechnical field investigations and laboratory testing programs to support design of the heap-leach facility.

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