Asiamet: Latest drill results confirm, extend high grade copper at BKM project
Thursday, October 15 2015 - 01:46 AM WIB
TSX-listed Asiamet Resources Limited (ARS) reported Wednesday assay results for the final holes drilled as part of the 2015 resource evaluation program at the Beruang Kanan Main (BKM) copper deposit in Central Kalimantan.
This is the final set of results required to complete an update of the BKM Resource, ARS said in a statement.
Infill drilling on section lines BKM32500 and BKM32550 within the BK044 zone intersected higher grade copper mineralization and confirmed the continuity of the deposit in this area as anticipated. Importantly, a single hole drilled on section line BKM32650 also intersected higher grade mineralization and extended the BKM044 zone to the north. The BKM deposit remains open in this area and will be followed up as part of feasibility study drilling.
Hole BKM32550-06 (106.8m end of hole (EOH)) intersected shallow high grade copper mineralization very similar to that reported in BKM32450-01, 120 meters to the southeast before entering a barren post mineral dyke at 10.5 meters. Better results include:
BKM32550-06 7.5 meters at 4.11% Cu (from 3.0 meters depth)
Assay results for BKM32550-07 (128.7m EOH) identified a broad zone of strong copper mineralization from 10 meters depth, which includes several zones of higher grade mineralization. Better results include:
BKM32550-07 92.0 meters at 0.90% Cu (from 10 meters depth)
? Including 9.0 meters at 1.31% Cu (from 32 meters)
? Including 3.0 meters at 3.07% Cu (from 44 meters)
? Including 14.0 meters at 1.15% Cu (from 50 meters)
? Including 20.5 meters at 1.13% Cu (from 68 meters)
5.0 meters at 1.16% Cu (from 107 meters depth)
? Including 2.0 meters at 2.10% Cu (from 107 meters)
Hole BKM32500-03 (156.4m EOH) intersected a cumulative 77 meter interval (seven individual intersections) of moderate grade copper mineralization and bottomed in 3.4 meters of copper mineralization assaying 1.45% Cu. Better results include:
BKM32500-03 17.1 meters at 1.05% Cu (from 90.9 meters depth)
? Including 10.0 meters at 1.29% Cu (from 92.5 meters)
Hole BKM32650-01 (110.0m EOH) is the most northerly hole drilled as part of this program, and intersected a cumulative 52.0 meter interval (four individual intersections) of moderate to high grade copper mineralization. Better results include:
BKM32650-01 30.0 meters at 0.82% Cu (from 11.0 meters depth)
? Including 12.0 meters at 1.43% Cu (from 17.0 meters)
BKM32650-01 11.0 meters at 1.35% Cu (from 57.0 meters depth)
? Including 5.0 meters at 2.37% Cu (from 63.0 meters)vBKM32650-01 7.0 meters at 0.97% Cu (from 85.0 meters depth)
? Including 2.0 meters at 2.17% Cu (from 85.0 meters)
Final assays have now been received for all 71 drill holes of the 2015 BKM resource evaluation program. The deposit remains open in several areas drilled as part of this program and the potential for the discovery of additional mineralization has also been identified further west of current drilling where outcrops assaying up to 9.6% copper have been sampled. These areas represent priority targets during the next phase of drilling at BKM.
?With the final assays received, an update of the Resource Estimate can now be finalized and we anticipate completion shortly,? ARS said.
?Preliminary results for Phase 1 metallurgical test work are expected in mid-November and the Phase 2 metallurgical program is underway,? it added.
Three bulk composites from continuous intervals of half drill core were selected from drill holes on section lines BKM32200, BKM32250 and BKM32500 to test the leaching characteristics of the high grade, medium grade and low grade material. Upon receipt of the required permits the bulk samples will be exported to Australia for testing as part of the Preliminary Economic Assessment (PEA). ?Work on the PEA is expected to commence immediately following receipt of the updated Resource estimate,? ARS said.
Tony Manini, Asiamet's Chief Executive Officer commented: "Asiamet is very pleased with the results of the drilling program completed at BKM in 2015 and we look forward to receiving and reporting the updated Resource estimate shortly. The combination of excellent copper grades, very shallow mineralization, discrete high grade zones, promising initial metallurgical test work and further growth potential bode well for the project. Focus now moves to the mining studies, detailed metallurgical test work and the various other inputs required to complete the PEA. Scout drill testing of nearby targets will continue. A strong ongoing news flow is anticipated as the various components of the PEA are advanced and the company continues to execute on its strategy for its Beutong and Jelai assets. We look forward to progressively reporting the results of this intensive program as they come to hand."
Editing by Reiner Simanjuntak