Asiamet discovers high grade copper mineralization at BKW prospect
Thursday, July 20 2017 - 01:48 AM WIB
TSX-listed Asiamet Resources Ltd reported that systematic mapping and rock chip sampling was recently completed in the northern part of the Beruang Kanan West (BKW) prospect in Central Kalimantan, Indonesia.
BKW is located approximately 1 km west of Asiamet's core Beruang Kanan Main (BKM) copper project where bankable feasibility studies are well advanced.
Asiamet said in a statement that 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 include:
? 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 mineralized 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.
?The true width and thickness of the high-grade copper mineralization has not yet been determined and follow up mapping and sampling will be undertaken. The location and style of the BKW mineralization is similar to that identified at BKM and represents a priority target for drill testing,? the company said in the statement.
Asiamet said its geologists will soon commence mapping and sampling the largest 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.
?Over the past three years the team at Asiamet have rapidly advanced a new copper discovery at BKM from early exploration through to feasibility stage. Looking forward we are now focused on completing the feasibility study with the objective of then moving this asset through to the development phase,? said Peter Bird, Asiamet?s CEO, in the statement
As previously highlighted, the BKM discovery is not an isolated occurrence but rather the first prospect with defined Resources within a large, approximately 15sqkm area, of anomalous copper mineralization in rocks and soils. These recent results from the northern part of BKW coupled with the fact that the mineralization is similar in style to BKM highlights the significant potential for the discovery of additional copper mineralization that exists in the greater BK area.
This area and any others generated from ongoing mapping and sampling at BKW and Beruang Kanan South (BKS) represent high priority drill targets for testing over the coming months. ?Any targets with potential to add mine life and enhance the already attractive economics (outlined in the PEA) of BKM will be rapidly advanced in order to achieve initial Resource status,? the statement ended.
Editing by Reiner Simanjuntak