Resource evaluation drilling at Asiamet Resources’ Beruang Kanan Main (BKM) Copper Project in Central Kalimantan, Indonesia has revealed further high-grade copper intersections and excellent continuity of mineralisation. The drilling forms part of work being carried out for a feasibility study.

A total of 70 holes for 7030 metres of diamond core drilling have been completed with two holes in progress. A further 48 holes for 3970 metres are planned and a third drill rig has recently been mobilised to ensure completion of the feasibility study resource evaluation program in this quarter.

An updated resource estimate incorporating all of the 2016-2017 drilling will be prepared for release shortly thereafter.

Better results from the most recent drilling of the BKM044 Zone include:

4.8 metres from 21.3 metres @ 1.07% copper and 26.85 metres from 34.15 metres @ 2.34%, including 3 metres from 38 metres @ 3.38% and 16 metres from 44 metres @ 3.02%; 14 metres from 34 metres @ 0.74%, including 4 metres from 36 metres @ 1.53%; 4.35 metres from 3 metres @ 4.93%, including 2 metres from 4 metres @ 8.97%, and 33.5 metres from 34.5 metres @ 0.75%; 4 metres from 2 metres @ 1.87% and 2 metres from 17 metres @ 1.36%; and 30 metres from 9 metres @ 0.75%, including 5 metres from 24 metres @ 1.73% and 5 metres from 34 metres @ 1.03%.

Asiamet’s chief executive officer Tony Manini said, “These results have again exceeded our expectations and provide further confirmation of the high quality characteristics of the BKM deposit.

“The higher grade BKM044 Zone has demonstrated excellent continuity of copper mineralisation over more than 500 metres of strike length and is up to 325 metres wide and 100 metres thick in parts.

“This continuity coupled with the consistently shallow nature of the mineralisation is expected to have a strong positive impact on project economics as mine engineering studies are completed.

“Feasibility study activities are being progressed at pace on all fronts and several corporate initiatives aimed at further strengthening the company and providing funding options for the development of BKM have been significantly advanced.

“Asiamet expects 2017 to be a transformational year for the company.”