Asiamet reports further high grade copper mineralization in C. Kalimantan

By Romel S. Gurky

TSX-listed Asiamet Resources Limited (formerly known as Kalimantan Gold Corp Ltd) said that recent drilling as part of the resource evaluation program in progress on the Beruang Kanan Main (BKM) copper deposit in Central Kalimantan, Indonesia, has identified a second zone of higher grade copper mineralization within the BKM Resource.

The company said in a statement on Tuesday that the delineation of these two shallow, higher grade zones is expected to have a very positive impact on the BKM project economics.

It said that assay results were received for an additional nine holes drilled to increase confidence and expand the BKM resource. In total, 66 holes and 5,605 meters of the planned 80 hole/ 6,500 meter resource evaluation drilling program have now been completed and two holes are currently in progress.

Asiamet provided the following further details in the statement.

Higher grade copper mineralization has now been identified in two separate parts of the BKM deposit, namely the northern BK044 Zone and the southern BK058 Zone. Within the BK044 Zone, hole BKM32350-02 (125.9m end of hole (EOH)) intersected shallow, high grade copper mineralization very similar to that reported previously to the northwest in hole BKM32450-01 and southwest in hole BK045.

Better results include:

BKM32350-02 35.0 meters at 1.73% Cu, (from 20 meters depth)
? Including 11 meters at 3.49% Cu (from 20 meters)
? Includes 2 meters at 10.15% Cu (from 20 meters)

BKM32350-02 14.0 meters at 1.42% Cu, (from 65 meters depth)
? Including 6 meters at 2.53% Cu (from 72 meters)

Two additional holes have also been completed on this line and assays are expected shortly.

Infill and expansion drilling at the BKM deposit will be completed by mid-September and an updated resource estimate is being prepared for release in late September or early October subject to receipt of final assays for all drill holes. Scout drilling of the BKS and BKW targets is expected to commence by the end of September.

Tony Manini, Asiamet Resource's Chief Executive Officer commented: "The delineation of these two discrete areas of higher grade copper mineralization within the BKM Resource envelope is a promising development for the Beruang Kanan copper project. With further drilling we expect the continuity of these two shallow zones to be confirmed and anticipate that they will have a highly positive impact on the project economics when our evaluation of various mining scenarios commences in Q4, 2015. Asiamet looks forward to providing further results from ongoing drilling and metallurgical test work, and a resource update for BKM, in the coming weeks."

Editing by Reiner Simanjuntak