Asiamet Resources updates on Beruang Kanan Main deposit

Shares in Asiamet Resources are down more than 2% after stating resource definition drilling on the Beruang Kanan Main (BKM) deposit intersected thick depth extensions of copper mineralisation in the BK044 Zone.

The deposit is in Central Kalimantan, Indonesia. The resource definition drilling was part of feasibility studies for the BKM deposit.

"Drilling on section line BKM32400 intersected thick intervals of moderate to high-grade copper mineralisation extending more than 100 metres below the base of the conceptual open pit design, as proposed in the Preliminary Economic Assessment (PEA)," the company said.

It added that future drilling was required along strike (north-south) and laterally to establish continuity of this deeper domain and determine the potential for extending the open-pit to capture this mineralization.

"The Infill and Expansion drilling program at BKM has finished, a total 122 holes for 12480.9 metres of diamond core drilling have been completed," the company said.

"Asiamet Resources expects further pending assays will be received over the next month, and work has already commenced on the mineral resource update."

At 13:27 BST, shares in Asiamet were down 2.4% to 5.08p each.