Asiamet discovers further mineralisation at Indonesian site

Copper exploration and development junior Asiamet Resources announced on Tuesday that it had found further high-grade base and precious metal rich mineralisation at its BKZ prospect in Central Kalimantan, Indonesia.

Asiamet said that while further drilling would still be required to determine the ultimate dimensions and continuity of the mineralised body, the initial results were "highly significant and provide confidence for a potential stand-alone high-grade polymetallic deposit".

The BKZ prospect was the first of multiple targets outside Asiamet's feasibility stage BKM copper project, located approximately 800m to the south of its previous testing and was currently being tested in the wider area.

To date, six holes had been drilled into a fairly closely grouped test zone, with returns of 3.2 metres at 1.15g per tonne of gold, 67.8g silver from 1.8 metres and seven metres at 3.7% zinc, 1.3% lead, 33 grams per tonne silver and 1% copper.

The firm also said it had hit 39 metres at 3.7% zinc in a second hole at a depth of 41 metres.

Chief executive Peter Bird said, "Asiamet is extremely pleased with the initial follow-up drill results from our BKZ prospect, the first of multiple targets to be drilled in the BK district over the coming months."

"The base and precious metals grades received to date are exceptional and of a similar tenor to those reported at some of the highest quality base metals mines globally," he added.

As of 1030 BST, shares were holding steady, up just 0.52% to 4.80p.