16th May 2018 14:27
LONDON (Alliance News) - Asiamet Resources Ltd released its maiden mineral resource estimate on Wednesday for its BKZ Polymetallic deposit located in Indonesia.
The inferred mineral estimate showed a high grade domain in the upper polymetallic zone of 750,000 tonnes at 8.0% zinc, 3.4% lead, 50 grammes per tonne silver and 0.35 grammes per tonne gold containing 132 million pounds of zinc, 57 million pounds of lead, 1.2 million ounces of silver and 8,400 ounces of gold at 4% zinc cut-off grade.
The low grade domain results were 590,000 tonnes at 1.6% zinc, 0.5% lead, 13 grammes per tonne silver and 0.15 grammes per tonne gold containing 20 million pounds zinc, 7 million pounds lead, 247,000 ounces silver and 2,800 ounces gold at 1% zinc cut-off grade.
In the lower copper zone inferred mineral resource showed a high grade domain of 1.1 million tonnes at 1.1% copper and 13 grammes per tonne silver containing 26 million pounds copper and 460,000 ounces silver at 0.5% copper cut-off grade.
Asiamet said the mineralisation "remains open in multiple directions" at both the upper zone and lower copper zone with "many potential targets" to expand the resource base that remain to be tested.
Asiamet's BKZ deposit is "strategically" located adjacent to its BKM copper project, which is currently in the final stages of a bankable feasibility study.
Chief Executive Officer Peter Bird said: "The reporting of an initial Mineral Resource estimate for the BKZ polymetallic deposit today represents another very important value adding milestone for Asiamet. The BKZ polymetallic deposit mineralisation is located close to existing roads and the proposed infrastructure for the BKM copper project. The BKZ inventory has the potential to significantly enhance the economics of any mine development in the area. Our ability to discover and delineate this high grade, near surface polymetallic deposit in such a short timeframe clearly demonstrates the largely untapped potential of both the BK district and the broader KSK contract of work.
"BKZ remains open in multiple directions and all geological indicators suggest the BKM-BKZ corridor and multiple surrounding targets will continue to deliver further substantial growth in the Company's mineral inventory over the coming months and years. We are truly excited by this opportunity and look forward to reporting on further progress as our exploration effort continues to unlock value at both the KSK and Beutong projects where we especially look forward to results of recent deep drilling at the latter."
Shares in Asiamet were flat Wednesday at 11.88 pence each.
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