20th Mar 2019 11:30
LONDON (Alliance News) - Asiamet Resources Ltd's latest assay results from Indonesia confirm the "robustness" of one of its resources, the company said Wednesday.
The results are from infill and geotechnical drilling forming part of the feasibility study for its Beruang Kanan Main copper deposit in central Kalimantan, Indonesia.
Asiamet has so far drilled 37 resource evacuation holes and 4 geotechnical holes across 5,665 metres. Results from 32 holes have so far been received, with the rest expected by the end of March.
Once they are all collected, Asiamet can update the resource and generate first ore reserves for Beruang Kanan Main.
Highlights from the recent drilling include 19 metres at a grade of 1.2% copper, 27 metres at 0.7% copper, and 14 metres at 0.8% copper.
Chief Executive Peter Bird commented: "The additional program of thirty-seven resource evaluation and four geotechnical drilling required for the BKM feasibility study have been completed on schedule.
"The results received to date align well with expectations and further strengthen the robustness of our resource models as we move into the final phase of mine and process design to generate an initial ore reserve for the BKM project."
"Upside potential in and around the BKM deposit remains very high and an external geological consultant with extensive experience in Indonesia has recently been engaged to further strengthen our understanding of the BKM geological system and develop a suite of additional high-potential near-mine resource targets for testing in the next round of drilling," Bird continued.
"This work is currently under way, and we look forward to providing an update on this target generation program shortly."
Asiamet shares were 1.1% lower on Wednesday morning at 6.58 pence each.
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