Asiamet: Scout drilling at BKZ prospect continues to deliver outstanding results
Wednesday, October 18 2017 - 09:04 AM WIB
TSX-listed Asiamet Resources Limited (ARS) said on Wednesday that follow up scout drilling at the BKZ Polymetallic (BKZ) prospect located on its Kalimantan Surya Kencana (KSK) 6th Generation Contract of Work (CoW), in Central Kalimantan, continues to intersect further intervals of thick, near-surface high-grade base and precious metal-rich mineralization.
The company said in a statement that the highlights to date include:
? All eight holes (790 meters) drilled to test depth extensions of a massive sulphide zone which outcrops over an area of 150m x 100m have intersected mineralization and the deposit remains open laterally and at depth.
? Assay results reported in this release now confirm at least 100m of continuity to the thick, high-grade polymetallic mineralization.
? BKZ is located very close (approx. 800m north) to the company?s feasibility stage BKM Copper Project (BKM) and within 150m of the main access road leading to BKM.
?Extensive further drilling is still required to determine the ultimate size and geometry of the mineralization and advance the discovery to an initial Resource,? Asiamet said.
Peter Bird, Asiamet's Chief Executive Officer commented: "We are extremely pleased to report that ongoing scout drilling at the BKZ polymetallic discovery adjacent to our core feasibility stage BKM copper project, continues to deliver outstanding results and further progresses our parallel objective of unlocking the substantial upside potential we believe lies within the highly prospective but very under-explored KSK Contract of Work.?
?The high-grade polymetallic mineralization we have seen in drilling at BKZ to date is of similar grades to those reported at some of the highest quality base metals mines globally,? he added.
He said the potential to share some of the infrastructure proposed for the development of the BKM copper project provides the company with an exceptional value adding opportunity at BKZ and other nearby prospects such as BK South and BK West.
Although it is early in the exploration stage at BKZ, results are first-rate and beyond expectations. ?At this point, we continue the step-out drilling to expand the mineralization in all directions which we hope will continue to intersect potentially near-surface high-value mineralized material at which point we may be encouraged to take a decision to advancing exploration work at BKZ to the delineation of a maiden Resource.?
Drilling summary is as follows.
The third hole on section line BKZ33700 (101.3m End of Hole "EOH") was drilled to establish continuity of mineralization between hole BKZ33700-02 (113.9m EOH), which intersected 39m at 7.3% zinc, 2.3% lead, 33g/t silver and 0.33g/t gold from 41m (refer ARS Press Releases October 3, 2017) and outcropping mineralization approximately 20m further to the west. BKZ33700-03 intersected a broad zone of quartz-sulphide mineralisation from 14m depth comprising quartz-sulphide veins to massive sphalerite (zinc), galena (lead), chalcopyrite (copper) and pyrite (Figure 2). This intersection confirms the geometry of mineralization observed in BKZ33700-02, indicating the high-grade section of the quartz-sulphide body is approximately 30-40m in true thickness and dipping twenty-five degrees to the east.
The results of the first hole on section line BKZ33750 confirm zinc-rich polymetallic mineralization extends 50m to the north of previous drilling. BKZ33750-01 (82.4m EOH) was collared near outcropping massive sulphide mineralization, and intersected polymetallic mineralization from just below the drill collar. It is interpreted that this hole pierced the western margin of the mineralized domain, and therefore further drilling to the east and northeast is required.
Drilling at BKZ continues to enhance our understanding of the character and scale of the base and precious metal mineralization, the footprint of which remains open in all directions. Step-out drilling continues to the south and east and the drill rig is currently positioned on BKZ33600-02, testing southern extensions to the high-grade polymetallic mineralization intersected on section line BKZ33650.
Editing by Reiner Simanjuntak