Asiamet upbeat on updated resource estimate at Indonesia's BKM deposit

The AIM-traded firm holds a 100% interest in the BKM project through its operating subsidiary PT Kalimantan Suraya Kencana (PT KSK).

It described BKM as a feasibility stage high-quality copper deposit outcropping at surface.

The BKM 2019 mineral resources, compliant with JORC 2012, at a 0.2% copper cut-off grade comprised total resources of 69.6Mt at 0.6% copper, for 451.9kt of contained copper.

That consisted of 20.6Mt at 0.7% copper for 148.5kt of contained copper in the measured resource category, 34.1Mt at 0.6% copper for 212.6kt of contained copper in the indicated resource category, and 15Mt at 0.6% copper, for 90.8kt of contained copper in the inferred resource category.

Asiamet said the updated mineral resources underpinned the initial ore reserve estimate for the BKM feasibility study.

The resources were amenable to heap-leach solvent extraction electrowinning (SX-EW) to produce copper cathode, the board explained, with the deposit remaining open laterally and at depth.

It added that there was the potential for further growth through drilling to expand the resource envelope, and upgrade the resource confidence in several areas.

“We are pleased to deliver a further update of the mineral resource estimate for the BKM copper project,” said Asiamet chief executive officer Peter Bird.

“This update incorporates our extensive historic drilling database with the latest results from the most recent 2018 and 2019 resource delineation drill programmes designed to capture additional resources and hence ore blocks at the boundaries of the pit shells, as well as upgrading some inferred resources into the measured and indicated categories.

“The new MRE reinforces the integrity, size and scale of the BKM deposit and provides a solid foundation for our emerging mid-size BKM copper development project.”