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LONDON (Alliance News) - Asiamet Resources Ltd on Tuesday said it discovered strong copper results from the completion of its infill drilling programme at the Beruang Kanan main copper deposit in Central Kalimantan, Indonesia.
The programme commenced in November 2018 with the aim of optimising the mine design and improving the overall economics and robustness of the bankable feasibility study for the project.
Among the highlights from the results the company discovered 13.0 metres at 1.42% copper from 12.0 metres depth and 90 metres at 1.08% copper from 43.5 metres.
"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," Chief Executive Officer Peter Bird said.
Asiamet shares were trading down 0.7% at 6.80 pence each on Tuesday afternoon.