Asiamet reports large increase in contained copper at BKM deposit

By Romel S. Gurky

TSX-listed Asiamet Resources Limited (ARS) provided on Wednesday the following update on the Mineral Resource estimate for the Beruang Kanan Main (BKM) deposit within the company's 100 percent-owned concession in Central Kalimantan.

The Resource has been independently estimated by Duncan Hackman of Hackman & Associates Pty Ltd (Australia) and a technical Report compliant with NI 43-101 will be published and available on the company's website within 45 days of publication of this news release. As required under NI 43-101 Indicated and Inferred Resources are reported separately below.
? Large increase in contained copper. 231MIbs (105,000 tons) of contained copper has been added as Indicated Resources and 35Mlbs (18,000 tons) of contained copper has been added as Inferred Resources.
? Resource confidence significantly upgraded. ARS's 2015 drill program has demonstrated good continuity of shallow near-surface copper mineralization and successfully upgraded a significant portion of the previous Inferred resource to the Indicated resource category. The previous September 26, 2014 BKM Mineral Resource estimate contained no Indicated Resources.
? Beruang Kanan Main Resources are now estimated as:
o Indicated Resources of 15.0 million tons at 0.7% Cu containing 231MIbs (105,000 tons) of copper at a 0.2% copper cut-off grade (refer Table 1). The September 26, 2014 BKM Mineral Resource estimate contained no Indicated Resources.
o Inferred Resources of 49.7 million tons at 0.6% Cu containing 657MIbs pounds (298,000 tonnes) of copper at a 0.2% copper cut-off grade.
? Substantial Mineral Resource inventory at a 0.5% copper cut-off grade provides a solid basis for upcoming mining studies to be undertaken as part of the BKM preliminary economic assessment (PEA). The larger inventory of available Mineral Resource provides an opportunity to assess various options relating to plant throughput and/or increased mine life in the mining studies.
? Two discrete near surface higher grade zones identified in the 2015 drilling provide ARS with an opportunity to assess the potential for higher grade starter pit opportunities that can enhance project economics.

The BKM Mineral Resource estimate is based on assays from 145 diamond drill core holes that were drilled from 1998 to 2007, from 2012 to 2013 and by ARS in 2015. Mineralization is contained within a near-surface, shallow-dipping and strongly mineralized system, that extends over an area of 1100m (N-S) and 950m (E-W) with depth extents ranging from surface to between 100m and 350m below surface (top to bottom). Only the near surface part of the mineralized system has been evaluated as part of the 2015 drilling program.

Other priority targets for additional copper mineralization have been identified at Beruang Kanan South (BKS), Beruang Kanan West (BKW) and BKZ Polymetallic (BKZ) prospects; each within 1.5km of the BKM Inferred Mineral Resource. These targets are progressively being explored with surface exploration and scout drilling.

Asiamet Resources CEO Tony Manini commented: "Asiamet is very pleased with the updated Mineral Resource Estimate for the BKM deposit. The positive attributes of the deposit delineated by the 2015 drilling program are clearly highlighted in this new Estimate. The Mineral Resource inventory has significantly increased in size; Resource confidence has been substantially upgraded; and discrete zones of shallow higher grade mineralization have been identified and delineated. The focus of our work programs now moves to the key mining studies, detailed copper heap leach test work and the various inputs into the PEA. Excellent progress has been made to achieve this important milestone on time and budget and our focus now moves to completing the PEA."

Mineral Resource Estimate - Beruang Kanan Main Deposit - October 2015

Indicated and Inferred Mineral Resource (NI 43-101)

Indicated Mineral Resources
Reporting cut (Cu %)	Tons (?000)	Cu Grade (Cu %)	Contained Cu (?000 tons)	Contained Cu (?000,000 lbs)
0.2	15,000	0.7	105	231
0.5	12,600	0.7	88	194
0.7	5,600	0.9	50	110
Inferred Mineral Resources
Reporting cut (Cu %)	Tons (?000)	Cu Grade (Cu %)	Contained Cu (?000 tons)	Contained Cu (?000,000 lbs)
0.2	49,700	0.6	298	657
0.5	25,300	0.7	177	390
0.7	9,800	0.9	88	194

Editing by Reiner Simanjuntak