Asiamet Resources reported the final assay results from an additional infill drilling programme completed as part of the bankable feasibility study (BFS) for the Beruang Kanan Main (BKM) copper deposit in Central Kalimantan, Indonesia.
The infill drilling programme commenced in November 2018 with the aim of optimising the mine design and improving the overall economics and robustness of the BFS for the BKM heap-leach SX-EW copper cathode project.
A total of 37 resource evaluation holes and four geotechnical holes for 5,665 metres of diamond core drilling were completed. All assays for the resource evaluation drilling have now been received.
- BKM31690-01 13m at 1.42% Cu from 12m depth - Includes 2m at 3.49% Cu from 12m depth and 1m at 5.25% from 17m
- BKM32250-09 90m at 1.08% Cu from 43.5m, including 25m at 2.37% Cu from 78.50m
- BKM32200-09 10.65m at 1.09% Cu from 72.15m depth, including 6.35m at 1.45% Cu from 72.15m depth
- BKM32200-09 19.40m at 0.97% Cu from 85.6m depth, including 3m at 1.36% Cu from 92m
Resource infill holes BKM32200-09 and BKM32250-09 were drilled in the north central area of the current proposed open pit and continued to intersect zones of moderate to strong chalcocite and covellite copper mineralisation. BKM32250-09 was drilled to a depth of 187.5m and ended in mineralisation.
Resource infill holes BKM31690-01, BKM31690-02, BKM31730-01 and BKM31730-02 drilled in the southern part of the currently proposed open pit intersected zones of moderate to strong covellite, bornite and minor chalcopyrite copper mineralisation as anticipated.
CEO Peter Bird commented: "The results of the resource evaluation drilling programme have upgraded our level of confidence in the BKM Resource model and indicate that copper mineralisation remains open to the south and north-east area of the deposit.
"This additional infill drilling is expected to lift confidence of targeted inferred resources sitting inside the current pit shells to the indicated resource category for use in optimising pit shells for mine planning purposes.
"Detailed mine design and mining engineering studies coupled with rigorous analysis of capital and operating costs are well advanced with the aim of delivering an economically robust BFS for the BKM project by the end of May 2019."
At 9:43am: (LON:ARS) Asiamet Resources Limited share price was -0.05p at 6.8p