Asiamet's exceptional drill results upgrade potential of BKZ discovery
Wednesday, October 11 2017 - 12:34 PM WIB
TSX-listed Asiamet Resources Limited announced on Wednesday that scout drilling at the BKZ prospect in Indonesia?s Central Kalimantan Province continues to intersect broad zones of near surface high grade base and precious metal rich mineralization.
Asiamet said in a statement that results received for step-out drilling along strike of earlier intersections have exceeded all expectations and provide added confidence that the company has potentially discovered a stand-alone high grade polymetallic Zn-Pb-Ag-Au deposit on its Kalimantan Surya Kencana (KSK) 6th Generation Contract of Work (CoW), in Central Kalimantan.
BKZ is located approximately 800 meters north and proximal to the main access road leading to the company's feasibility stage BKM Copper Project. The discovery of thick, very shallow, high grade polymetallic mineralization close to planned and propose infrastructure has the potential to transform the value of the KSK property and is considered to be a very significant development for the project and company.
To date, seven holes (705m meters in total) have been drilled to test a zone of massive sulphide outcrops over an area of 150m x 100m.
Highlights of the latest batch of drill results received include:
BKZ33650-01: 30.0m at 8.9% Zinc, 2.2% Lead, 46g/t Silver and 0.37g/t Gold (from 43 meters)
Including9.0m at 12.0% Zinc, 5.4% Lead, 94g/t Silver, 0.56g/t Gold (from 44 meters)
Including9.0m at 12.6% Zinc, 1.2% Lead, 28g/t Silver, 0.15g/t Gold (from 61 meters)
The first hole on section line BKZ33650 was drilled 50m south of BKZ33700-02 (113.9m End of Hole/EOH), which intersected 39m at 7.3% zinc, 2.3% lead, 33g/t silver and 0.33g/t gold from 41 meters. BKZ33650-01 (113m EOH) intersected a broad zone of quartz-sulphide mineralization from 43m depth, which outcrops approximately 50m to the east. The mineralization comprises quartz-sulphide veins to massive sphalerite (zinc), galena (lead), chalcopyrite (copper) and pyrite.
This intersection is consistent with the interpreted geometry of BKZ mineralization observed in adjacent holes, indicating the quartz-sulphide body is approximately 40-50 meters in true thickness.
The results of BKZ33650-01 confirming high grade zinc-rich polymetallic mineralization extends to the south of previous drilling is very promising. This is the highest-grade broad interval of zinc-rich mineralization the Company has drilled to date and provides further evidence that polymetallic mineralization is increasing in grade to the east. It also enhances our understanding of the structural and stratigraphic controls on the BKZ mineralization which remains open laterally and to depth. Step-out drilling continues to the south and east and the drill rig is currently positioned on BKZ33650-02, testing the eastern extensions to the high-grade polymetallic mineralization intersected in BKZ33650-01.
"As the BKM Copper Project is being advanced through Feasibility Study, a pipeline of additional prospects on the KSK COW such as BKZ Polymetallic, Beruang Kanan West, Beruang Kanan South and Baroi represent high potential walk up drill targets of which some are to be progressively tested over the coming weeks and months,? said Peter Bird, Asiamet CEO, said in the statement.
?The company views the recent results from drilling at BKZ, the first pipeline target to be tested in the current program, as a clear illustration of the substantial upside potential remaining on the very underexplored KSK COW.?
He explained that work undertaken by the company and its predecessor partners to date suggests that the greater BK area represents a polymetallic mineral district covering approximately 10-15 square kilometers, the potential of which is only beginning to see daylight. ?The discovery and delineation of the BKM copper deposit in the past three years and these recent exceptional grade polymetallic results from early drilling at BKZ highlight the potential to multiply the value of the KSK COW through systematic exploration. the Company is very excited by this opportunity and looks forward to unlocking this value for its stakeholders.?
Editing by Reiner Simanjuntak