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Alliance News

Asiamet Intersects Copper Mineralisation At Indonesian Project

Mon, 16th Apr 2018 13:25

LONDON (Alliance News) - Asiamet Resources Ltd said Monday that the first diamond drill hole at the 40%-owned Beutong East Porphyry copper-gold project in Indonesia has intercepted a near, surface high-grade copper mineralisation.

The first 71.9 metre BEU0900-06 drill hole confirmed high-grade copper-gold-molybdenum mineralisation near the surface, the company said, adding that the hole intersected upto 1.6% copper over two metre sample intervals.

The drill hole did, however, have to be stopped prematurely due to "defective drill rods". It did end though with high-grade copper mineralisation with the final 2.9 metres interval assaying 1.2% copper and 0.18 grams of gold per tonne and 203 parts per million molybdenum.

"We are excited that drill hole BEU0900-06 successfully reaffirmed high-grade near-surface mineralisation, and the first ever sequential assay data confirms soluble copper species within the BEP," Asiamet Chief Executive Peter Bird said. "This initial data provides further justification to evaluate if a potential heap leach SX-EW process is the more suitable processing route to evaluate for the BEP deposit in the early stage of operation."

"The company has strategically positioned itself with an attractive pipeline of copper growth projects in a rising copper market, and we expect strong news flow throughout 2018," Bird added. "We will continue to explore and develop the porphyry and skarn projects at Beutong, including planned metallurgy and geotechnical activities and further extension/evaluation drilling of the known mineralised domains."

"The company also remains on track to complete the BKM bankable feasibility study mid-year, and further develop the BKZ Polymetallic project and other high priority drill targets within the KSK Contract of Work", Bird said.

Shares in Asiamet were 1.5% higher at 11.68 pence on Monday.

By Ahren Lester;

Copyright 2018 Alliance News Limited. All Rights Reserved.

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