Surface Transforms management deliver positive operational update 16.09.2019 Watch Now

Asiamet Gets First Indicated Resource For Beruang Kanan Main Deposit

Wed, 21st Oct 2015 09:21

LONDON (Alliance News) - Asiamet Resources Ltd on Wednesday said it has secured an updated mineral resource estimate for the Beruang Kana Main deposit in Indonesia, giving the company its first indicated resource for the area.

The updated resource has shown a large increase in contained copper, with 105,000 tonnes of copper being added to its maiden indicated resources and another 18,000 tonnes being added to its existing inferred resources.

The indicated resource now stands at 15.0 million tonne of ore at 0.7% copper, containing those 105,000 tonnes of copper. Previously, the company did not have any indicated resource at the project.

The inferred resource stands at 49.7 million tonnes of ore at a grade of 0.6% copper, containing a total of 298,000 tonnes of copper.

"Resource confidence significantly upgraded. Asiamet's 2015 drill program has demonstrated good continuity of shallow near-surface copper mineralization and successfully upgraded a significant portion of the previous inferred resource to the Indicated resource category," Asiamet said in a statement.

The updated resource means the company can assess various options relating to the processing plant at the project, which could see production levels push higher than originally thought or the additional resource could be used to extend the project's mine life.

Two "discrete" near-surface higher grade zones were identified in the 2015 drilling programme, and provide Asiamet with an opportunity to assess the potential for higher grade starter pit opportunities that can enhance project economics.

Other priority targets for additional copper mineralization have been identified at the Beruang Kanan South, Beruang Kanan West and BKZ Polymetallic prospects, all of which lie nearby the existing deposit.

Asiamet shares were down 10% to 1.41 pence per share on Wednesday morning.

By Joshua Warner;; @JoshAlliance

Copyright 2015 Alliance News Limited. All Rights Reserved.

Related Shares

More News

Asiamet Resources Loss Narrows On Lower Exploration Costs

(Alliance News) - Asiamet Resources Ltd on Friday said its loss narrowed in the first half of the year due to reduced exploration and evaluation expense.Shares in Asiamet were down 3.5% at

13 Sep 19 11:50

Asiamet narrows losses as costs decrease

(Sharecast News) - Exploration and development outfit Asiamet Resources narrowed losses in the first half of its trading year on the back of decreased expenses.

13 Sep 19 10:41

AsiaMet Resources signs engineering MOU for BKM copper project

(Sharecast News) - AsiaMet Resources has signed a memorandum of understanding with a subsidiary of China Nonferrous Metal Mining for value engineering at its BKM Copper project located in Central Kalimantan, Indonesia.

21 Aug 19 10:12

Asiamet Signs Memorandum With China Nonferrous For BKM Mine Services

(Alliance News) - Asiamet Resources Ltd said Wednesday it has signed a memorandum of understanding with China Nonferrous Metal Mining Group Co Ltd for the provision of services for the Beruang in

21 Aug 19 09:36

Login to your account

Don't have an account? Click here to register.