July 26, 2017 4:35 AM ET

Metals and Mining

Company Overview of Asiamet Resources Limited

Company Overview

Asiamet Resources Limited engages in the acquisition, exploration, and development of mineral properties primarily in Indonesia. It holds interests in the KSK copper project, a porphyry copper prospect, located in central Kalimantan; and the Beutong project that consists of copper-gold-molybdenum resources located in Aceh, Indonesia. The company was formerly known as Kalimantan Gold Corporation Limited and changed its name to Asiamet Resources Limited in July 2015. Asiamet Resources Limited is based in White Rock, Canada.

15782 Marine Drive

Unit 1

White Rock, BC V4B 1E6

Canada

Phone:

604-536-2711

Key Executives for Asiamet Resources Limited

Chief Financial Officer and Corporate Secretary
Age: 65
Vice President of Exploration and Director
Age: 47
Total Annual Compensation: C$197.5K
Vice President of Indonesia
Total Annual Compensation: C$165.9K
Compensation as of Fiscal Year 2016.

Asiamet Resources Limited Key Developments

Asiamet Resources Limited Discovers High Grade Copper Mineralisation at BKW Prospect

Systematic mapping and rock chip sampling was recently completed by Asiamet Resources Limited in the northern part of the Beruang Kanan West prospect in Central Kalimantan, Indonesia. BKW is located approximately 1km west of Asiamet's core Beruang Kanan Main Copper Project where bankable feasibility studies are well advanced. Results received to date at BKW confirm a copper in soil anomaly in the northern part of BKW is associated with a zone of quartz-chalcocite-bornite veins hosted in a polymict breccia. Highlights from this recent work includes a rock grab sample collected from a 30-cm wide quartz -sulphide vein cutting sericite altered breccia assayed 26.1% Copper and 57.1g/t Silver. Approximately 200m west is a sericite altered breccia cut by quartz-bornite-chalcocite-pyrite veins, with individual rock chip grab samples assaying up to 4.1% Copper. Discovery of these copper sulphide bearing outcrops within a zone of mineralised quartz veins covers 600m x 150m in the northern part of BKW and overlaps with a small portion of the broad copper in soil anomaly delineated at BKW. There were 147 rock chip grab samples collected and a summary of the significant assays from this program are detailed in Table 1. The true width and thickness of the high- grade copper mineralisation has not yet been determined and follow up mapping and sampling will be undertaken. The location and style of the BKW mineralisation is similar to that identified at BKM and represents a priority target for drill testing. Asiamet geologists will soon commence mapping and sampling the and strongest copper in soil anomaly at BKW measuring 1.7km x 1km, with the goal of defining near surface copper mineralization for immediate drill testing.

Asiamet Resources Limited Reports Updated Mineral Resource Estimate for the Beruang Kanan Main Deposit in Kalimantan, Indonesia

Asiamet Resources Limited reported an updated Mineral Resource estimate for the Beruang Kanan Main deposit within the company's 100% owned KSK Contract of Work in Kalimantan, Indonesia. Highlights: Resource confidence significantly upgraded with contained copper in Measured and Indicated Resources increased by 207% in comparison to the October 21, 2015 BKM Mineral Resource estimate. The BKM Copper deposit is now estimated to contain Measured and Indicated Resources of 49.2 million tonnes at 0.70% copper containing 711.3MIbs (322,600 tonnes) of copper at a 0.2% copper cut-off grade; Additional 66Mlbs (30,000 tonnes) of contained copper (0.2% copper cut-off grade) added to the BKM Resource inventory; Beruang Kanan Main Resources are now estimated as: Measured Resources of 20.5 million tonnes at 0.7% Cu containing 325.7MIbs (147,700 tonnes) of copper at a 0.2% copper cut-off grade; Indicated Resources of 28.7 million tonnes at 0.6% Cu containing 385.6MIbs (174,900 tonnes) of copper at a 0.2% copper cut-off grade; Inferred Resources of 17.7 million tonnes at 0.6% Cu containing 241.0MIbs pounds (109,300 tonnes) of copper at a 0.2% copper cut-off grade; 73% of the copper contained in Resources is within the April 2016 BKM Preliminary Economic Assessment conceptual open pit mine design. The 2017 updated Mineral Resource estimate will be the subject of ongoing mining engineering and metallurgical studies as part of a BKM Feasibility Study and further optimisation of the BKM PEA open pit design is expected. A leachable copper model for the BKM deposit will be constructed using sequential copper analysis data from all post 2013 drill core samples and an initial Mineral Reserve will in turn be generated from the Measured and Indicated component of this leachable copper Resource model. The Company expects to complete the feasibility study in early 2018 and make a development decision at that time.

Asiamet Resources Limited Reports Final Assays for BKM Feasibility Drilling

Asiamet Resources Limited advised that it has now received the final batch of assays for Resource infill and expansion drilling completed as part of Feasibility Studies on the Beruang Kanan Main copper deposit in Central Kalimantan, Indonesia. Results continue to impress, with the latest near surface high grade copper assays returned from holes drilled at the BK058 Zone. In particular: Infill drilling at the BKM deposit confirms excellent internal continuity of near surface high grade copper mineralisation at the BK058 Zone. Twin drill holes confirm previously reported high grade and near surface mineralisation at BKM058 Zone. Results have been incorporated into the ongoing Feasibility study to refine and potentially improve the project's already favourable economics. Hackman & Associates are incorporating all 2016/17 drill results into an updated Resource estimate. The Resource infill and expansion drilling program at BKM comprised a total of 122 holes for 12,480.9 metre of diamond core drilling. The results from the final five drill holes of this drilling campaign are reported below. All were drilled in the southern part of the BKM deposit, with better results from the most recent drilling including: BKM31800-07-58.0 metre at 1.45% Cu (from 6.5 metre) Including 20.5 metre at 2.24% Cu (from 7.5 metre). Including 18.5 metre at 1.71% Cu (from 36.0 metre). BKM31835-01-17.5 metre at 1.57% Cu (from 25.5 metre). Including 9.5 metre at 2.37% Cu (from 27.5 metre). Includes 4.5 metre at 4.15% Cu (from 31.5 metre). BKM31600-06-4.0 metre at 3.15% Cu (from 46.5 metre). Expansion drill hole BKM31600-06 intersected a narrow zone of strong quartz - chalcocite - covellite veining, with individual veins up to 0.5 metre in width. This hole was drilled 50 metre west of BKM31600-05, which intersected 26.5 metre at 1.18% Cu from 48.0 metre, including 15.5 metre at 1.79% Cu from 50.0 metre. Quality control drill hole BKM31650-09 (120.0m EOH) is a scissor hole to BKM31650-07 (109.0m EOH), which intersected low to moderate grade copper mineralisation with locally narrow zones of high grade chalcocite-covellite located south of BKM058 Zone. BKM31650-09 was drilled east to confirm the orientation of mineralisation, and intersected similar style and grade mineralisation to that in BK31750-07. BKM31750-11 drilled as a quality control twin hole to BKM31750-01, which reported 9m @ 0.73% Cu from 19.0m and 10.0m @ 0.57% Cu from 41.0m, successfully confirmed the moderate-grade copper mineralisation in BKM31750-01. BKM31800-07 was drilled as a quality control twin hole to BKM31800-01 (85.8m EOH) that reported 21.0 metre at 1.77% Cu from 9.0 metre depth and 29.5 metre at 0.95% Cu from 35.0 metre depth. Drilling has successfully confirmed this zone of high grade near surface copper mineralisation. Infill hole BKM31835-01drilled approximately 25m east of BKM31850-03 (101.1 m EOH), which reported 10.0m @ 0.93% Cu from 14.5m, intersected higher grade quartz - chalcocite mineralisation compared to BKM31850-03, and confirms the near surface high grade mineralisation is 100m in width on this section line.

Similar Private Companies By Industry

Company Name Region
0796839 B.C. Ltd. Americas
0909189 B.C. Ltd. Americas
1106541 B.C., Ltd. Americas
1107136 B.C. Ltd Americas
13 Mining Titles in Opinaca Americas

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
May 9, 2017
Asiamet Resources Limited, Jelai Project
 

The information and data displayed in this profile are created and managed by S&P Global Market Intelligence, a division of S&P Global. Bloomberg.com does not create or control the content. For inquiries, please contact S&P Global Market Intelligence directly by clicking here.

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
NYC2012, Inc. United States
The Advertising Council, Inc. United States
Bertelsmann AG Europe
Rush University United States

Sponsored Financial Commentaries

Sponsored Links

Request Profile Update

Only a company representative may request an update for the company profile. Documentation will be required.

To contact Asiamet Resources Limited, please visit www.asiametresources.com. Company data is provided by S&P Global Market Intelligence. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.