Asiamet Resources says further drilling reveals strong mineralisation at Beutong project
Source - SMW
Asiamet Resources said Tuesday further drilling at its majority-owned Beutong project had revealed 'strong' mineralisation extending beyond the 2014 resource envelope in all holes completed so far.
At Beutong East Porphyry drill hole, BEU500-01, of depth 510.0m had confirmed a broad interval of high grade, near surface copper-gold-molybdenum outside the current resource envelop, the company said.
Infill drilling confirmed moderate-grade porphyry copper-gold-molybdenum mineralisation along the eastern end of the Beutong West Porphyry, with drill hole BEU1350-01 highlighting the potential for mineralisation to extend easterly into the gap between the east and west porphyry, the company added.
Copper mineralisation was seen at both BEU500-01 and BEU1350-01 drill holes and included covellite, chalcocite and digenite with minor chalcopyrite, demonstrating that the mineralised zones extend both laterally and at depth, Asiamet said.
Both holes, however, were terminated due to rig capacity.
'Beutong's large copper-gold Resource base, when coupled together with excellent nearby infrastructure (road, power and seaport) and the potential to assess a copper leaching process, as demonstrated by the initial sequential copper assaying results, positions the project as an increasingly rare copper development opportunity,' said Peter Bird, Asiamet's Chief Executive Officer.
At 9:32am: (LON:ARS) Asiamet Resources Limited share price was -0.68p at 9.35p