Asiamet delivers 'strong' copper results from Indonesian project

Asiamet Resources on Tuesday reported "strong" copper assay results from an additional infill drilling programme completed as part of the Bankable Feasibility Study (BFS) for the Beruang Kanan Main (BKM) copper deposit in Central Kalimantan, Indonesia.

The infill drilling programme commenced in November with the aim of optimising mine design and improving the overall economics and robustness of the BFS for the BKM copper cathode project.

Peter Bird, chief executive of Asiamet, said: "The results of the resource evaluation drilling programme have upgraded our level of confidence in the BKM resource model and indicate that copper mineralisation remains open to the South and North-East area of the deposit. This additional infill drilling is expected to lift confidence of targeted inferred resources sitting inside the current pit shells to the indicated resource category for use in optimising pit shells for mine planning purposes."

The AIM traded miner said a total of 37 resource evaluation holes and four geotechnical holes for 5,665 metres of diamond core drilling were completed, while all assays for the resource evaluation drilling have now been received.

Highlighted results included 13 metres at 1.42% copper from 12 metres, 90 metres at 1.08% copper from 43.5 metres, and 10.65 metres at 1.09% copper from 72.15 metres.

"Detailed mine design and mining engineering studies coupled with rigorous analysis of capital and operating costs are well advanced with the aim of delivering an economically robust BFS for the BKM project by the end of May 2019," said Bird.

Asiamet Resources' shares were up 0.29% at 6.87p at 1218 BST.