19 October 2021

Asiamet Continues to Expand High Grade BKZ Copper-Zinc-Precious Metals Deposit

Asiamet Resources Limited ("Asiamet" or the "Company") is pleased to announce results from an additional two drill holes recently completed as part of the Company's 2021 Resource extension drilling program at its 100% owned KSK Contract of Work (KSK CoW) located in Central Kalimantan, Indonesia.

Nine holes (1,920.7 metres) of a planned 3,000 metre program have been completed to date with assay results pending for a further four holes. High grade Zn-Pb-Cu-Ag-Au mineralisation has been intersected in all five drill holes assayed to date, confirming significant extensions to the existing BKZ JORC Resource.  

Highlights

·  Two recently completed holes intersected wide intervals of high-grade polymetallic mineralisation, significantly extending the existing BKZ polymetallic deposit

·      Holes were drilled to test for extensions of mineralisation to the north and east of the BKZ high-grade Zinc-Lead-Silver-Copper drill intercepts reported on 30 September 2021 

·      BKM and BKZ are now considered to be part of the same 3km long VHMS system with the BKZ deposit remaining open to the east, west, north and at depth.

·      High confidence that ongoing drilling will to continue to expand mineral Inventory, mine life and economic value of the KSK licence.

Assay Result highlights for holes BKZ33750-07 and BKZ33700-07

·      BKZ33750-07

·     19 metres @ 1.67% Zn, 0.72% Pb, 29 g/t Ag from 65 metres

·     7.3 metres @ 1.91% Cu, 1.32% Pb, 1.17% Zn, 45 g/t Ag, 0.4 g/t Au from 84 metres

·     32.25 metres @ 0.79% Cu, 1.39 % Zn, 0.57% Pb, 32 g/t Ag, 0.26 g/t Au from 95.75 metres

·      Incl 6.25 metres @ 2.8% Cu, 101 g/t Ag from 95.75 metres

·      BKZ33700-07

·     31.5 metres @ 3.3% Zn, 1.6% Pb, 0.59% Cu, 44 g/t Ag, 0.29 g/t Au from 72.5 metres

·      Incl 3 metres @15.7% Zn, 4.8% Pb, 0.56% Cu, 149 g/t Ag, 0.57 g/t Au from 73.5 metres

·      Incl 8 metres @1.38% Cu, 2% Zn, 3.22% Pb, 64 g/t Ag, 0.48 g/t Au from 84.8 metres

Tony Manini, Asiamet's Executive Chairman commented:

"Drilling to expand the Resource base at the BKZ deposit continues to deliver wide intervals of strong Zn-Cu-Pb-Ag-Au mineralisation in line with our enhanced geological understanding of the broader BKM-BKZ system. The two deposits at BKM and BKZ are now considered to be part of the same three kilometre long Volcanogenic Hosted Massive Sulphide (VHMS) System which remains open in most directions. Due to their polymetallic nature and high total metal content VHMS systems underpin some of the highest margin base metals mines globally. We are very pleased with the results received to date and highly confident that further drilling will continue to increase the mineral inventory adding significant mine life optionality and value to the BKM copper development project at this important time for the Company."

Figure 1 - Beruang Kanan Project Copper in Soils showing 2019 BKM Feasibility Study Pit Outline and 2021 Drill Targets To view the image, please click on the following link https://asiametresources.com/wp-content/uploads/2021/10/Figure-1.jpg

BKZ Drilling

Hole BKZ33750-07 was drilled to test for depth extensions of the Upper Polymetallic Zone (UPZ) (Figure 1, Target 4) Zn-Pb-Cu mineralisation previously intersected in the bottom of drill hole BKZ33750-04 (10.5m @ 3.4% Zn) and where it was interpreted that drilling had been terminated early (Figure 2). BKZ33750-07 intersected three sections of continuous Zn-Pb-Cu between 65 and 128 metres.

·     19 metres @ 1.67% Zn, 0.72% Pb, 29 g/t Ag from 65 metres

·     7.3 metres @ 1.91% Cu, 1.32% Pb, 1.17% Zn, 45 g/t Ag, 0.4 g/t Au from 84 metres

·     32.25 metres @1.39 % Zn, 0.79% Cu, 0.57% Pb, 32 g/t Ag, 0.26 g/t Au from 95.75 metres

The metal zonation observed in the three separate lenses of mineralization on this section is typical of volcanogenic massive sulphide (VHMS) base metal deposits with increasing gold contents reflecting proximity to the higher temperature parts of the system. Zinc and copper grades appear to be increasing at depth to the north-east of the current BKZ Inferred Resource and remains open. Additional drilling is planned to further expand the mineralisation to the north and east of this section.

Figure 2: BKZ Section 9933750N - Drill Hole BKZ33750-07 Assay Results To view the image, please click on the following link https://asiametresources.com/wp-content/uploads/2021/10/Figure-2.jpg

Hole BKZ33700-07 was drilled to test the eastern extent of Zn-Pb-Cu mineralisation intersected previously in drill holes BKZ33700-02, BKZ33700-05 and the lateral continuity of Zn-Pb-Cu mineralisation intersected in sections 9933650N and 9933750N.

Drilling intersected 31.5 metres @ 3.3% Zn, 1.6% Pb, 0.59% Cu, 44 g/t Ag, 0.29 g/t Au from 72.5 metres and confirms the continuity of strong mineralisation reported in drillholes BKZ33650-07 (34.5m @ 1.2% Cu) and BKZ33650-08 (34m @ 1.01% Cu) on section 9933650N (ARS news release 30 September 2021). Mineralisation on this section remains open to the east and additional drilling is planned.

Figure 3: BKZ Section 9933700N - Drill Hole BKZ33700-07 Assay Results To view the image, please click on the following link https://asiametresources.com/wp-content/uploads/2021/10/Figure-3.jpg

Qualified Persons

Data disclosed in this press release has been reviewed and verified by ARS's qualified person, Patrick Creenaune, Chief Geologist, FAIG (Fellow Australian Institute of Geoscientists), an advisor to the Company and a Qualified Person within the meaning of JORC (2012) and for the purposes of the AIM Rules for Companies.

ON BEHALF OF THE BOARD OF DIRECTORS

Tony Manini, Executive Chairman

For further information, please contact:

-Ends-

Tony Manini
Executive Chairman, Asiamet Resources Limited
Email: [email protected]

Investor Enquiries

Sasha Sethi

Telephone: +44 (0) 7891 677 441

Email: [email protected] / [email protected]
 

Asiamet Resources Nominated Adviser
RFC Ambrian Limited

Bhavesh Patel / Stephen Allen

Telephone: +44 (0)20 3440 6800

Email: [email protected] / [email protected] 

Optiva Securities Limited
Christian Dennis

Telephone: +44 20 3137 1903

Email: [email protected]

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