LONDON (Alliance News) - Asiamet Resources Ltd said Thursday that feasibility drilling at the Beruang Kanan Main site in Indonesia has encountered further high-grade copper mineralisation.
Asiamet said individual samples from its latest drill holes have returned up to 7.78% copper in a broad zone of high grade mineralisation.
Drilling in the northern area of the site has confirmed continuous mineralisation of up to 125 metres in true thickness over an east to west strike length of 400m.
A resource infill hole in the north-east area of the zone also confirmed continuous mineralisation up to 125m in true thickness over an east-west strike length of 500m.
A total of 70 holes for 7,030 metres of diamond core drilling have now been completed, with a further 48 holes and 3,970 metres of drilling planned.
"The ARS drill results released today have again exceeded our expectations and provide further confirmation of the high quality characteristics of the BKM deposit. The higher grade BKM044 Zone has demonstrated excellent continuity of copper mineralization over more than 500m of strike length and is up to 325 meters wide and 100 meters thick in parts," said Tony Manini, chief executive of Asiamet.
"This continuity coupled with the consistently shallow nature of the mineralization is expected to have a strong positive impact on project economics as mine engineering studies are completed. Feasibility study activities are being progressed at pace on all fronts and several corporate initiatives aimed at further strengthening the company and providing funding options for the development of BKM have been significantly advanced," added Manini.
Shares in Asiamet Resources were up 7.8% at 4.20 pence Thursday morning.
By Adam Clark; adamclark@alliancenews.com
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