7th Aug 2018 12:49
LONDON (Alliance News) - Asiamet Resources Ltd said Tuesday it has received positive results from a current infill and extension drilling programme at its Beutong copper project in Indonesia.
The company said drill hole BEU500-01 confirmed a "broad interval of high grade, near surface copper-gold-molybdenum outside the current resource envelope".
Infill drilling confirmed moderate-grade porphyry copper-gold-molybdenum mineralisation along the eastern end of the Beutong West porphyry, Asiamet added.
Chief Executive Peter Bird said: "Results received from the current round of drilling at Beutong East porphyry demonstrate both the robustness of the central mineralised core and the substantial resource upside potential that remains to be delineated.
"Beutong's large copper-gold resource base, when coupled together with excellent nearby infrastructure and the potential to assess a copper leaching process, as demonstrated by the initial sequential copper assaying results, positions the project as an increasingly rare copper development opportunity."
Asiamet shares were trading 5.2% lower at 9.50 pence each on Tuesday.
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