Asiamet upbeat on ongoing infill drilling at Beruang Kanan

Asiamet Resources advised on Friday that resource infill and extension drilling being completed as part of feasibility studies on the Beruang Kanan Main copper deposit in Central Kalimantan, Indonesia was continuing to substantially de-risk the resource.

The AIM-traded firm confirmed the ongoing infill drilling at the deposit had confirmed excellent internal continuity of high grade copper mineralisation at the BK044 zone.

A new copper mineralisation had also been intersected outside of the current BKM resource envelope, indicating the potential for further extensions to the resource.

Results would be incorporated into the ongoing feasibility study to refine and potentially improve the project's already favourable economics, the board reported.

A total 93 holes for 9050 metres of diamond core drilling had now been completed and three holes were currently in progress.

All nine holes were drilled in the northern part of the BKM deposit.

A further 25 holes of 1950 metres were planned, and an updated resource estimate incorporating all of the 2016-2017 drilling would be prepared for release shortly thereafter.

“The drilling and feasibility studies work being undertaken by our highly-experienced team continues to substantially de-risk and thereby improve BKM project's potential economics,” said Asiamet chief executive Peter Bird.

“Drilling within the BKM resource envelope, and particularly the high grade BK044 zone, has delivered further excellent results.”

Bird said the goal of the drilling campaign was to upgrade and expand the mineral resources at the BKM deposit, and the company was very pleased with the geometry of the mineralisation and both the lateral and vertical continuity.

“Several additional strategic and high value targets outside of the current resource envelope are also being targeted for drill testing.

“In addition to continuing to communicate progress upon Asiamet's feasibility study and other corporate initiatives, we greatly look forward to an updated resource estimate as the current campaign nears its completion.”