Asiamet Resources said ongoing drilling at BKZ polymetallic prospect continues to yield highly positive results.
It said five holes had now intersected the high grade copper-silver mineralisation that underlies the high grade polymetallic Zn-Pb-Cu-Ag-Au mineralisation, confirming at least 150m strike length and 50m in true thickness. Mineralisation remains open to the south, east, west and down-dip. Asiamet said new assays confirmed further high grade copper-silver mineralisation within the interpreted 'feeder structure' underlying the polymetallic mineralisation at BKZ, with up to 7.9% copper over 1-metre sample intervals.
It said drilling had been upgraded to 'delineation drilling status' comprising an estimated 3500m in 30 holes to provide sufficient drill data density in order to define a maiden Resource for the polymetallic mineralisation and the underlying copper-silver mineralisation at BKZ.
Chief executive Peter Bird said: 'We are very pleased that ongoing drilling at BKZ continues to yield highly positive results.
'These additional drill holes have further enhanced our understanding of the dimensions and geometry of the mineralised domains to the point where we have decided to progress to the definition drilling stage and establish initial JORC compliant Resources at both the polymetallic mineralisation and the underlying copper-silver mineralisation at BKZ.
'The footprint of mineralisation at BKZ remains open in all directions and ongoing drilling will continue to concurrently infill and expand the deposit.
'Initial scout drilling has also been completed at BKS and BKW and we look forward to reporting results from drilling on all prospects together with regular updates on the BKM copper project BFS and drilling on our large Beutong Cu-Au porphyry deposit as they become available.
'Together with the corporate and project financing initiatives underway it is indeed a busy and exciting time for Asiamet as the Company advances towards its goal of becoming a copper producer at a time when the copper market is forecast to be in deficit and prices are rising.'
At 9:50am: (LON:ARS) Asiamet Resources Limited share price was +0.48p at 10.63p