Asiamet Gets Latest Results After Completing Drilling At Beruang Kanan

Thu, 8th Oct 2015 08:01

LONDON (Alliance News) - Asiamet Resources Ltd Thursday said drilling at the Beruang Kanan Main copper deposit in Central Kalimantan, Indonesia, continues to intersect wide intervals of higher grade copper mineralisation as it released the latest assay results from its drilling campaign.

The miner has been drilling the deposit to increase confidence and expand the resource at Beraung Kanan. The company has recieved some assay results, but is waiting for the results from the final five holes so it can provide an updated resource estimate for the project.

The latest assay result from hole BKM32250-03 stood at 51.9 metres at 1.36% copper. This included 13.0 metres at 1.46% copper, 7.0 metres at 2.15% copper and 7.9 metres at 2.61% copper.

The latest assay result from hole BKM32500-01 stood at 44.0 metres at 0.91% copper, including 4.0 metres at 2.11% copper, 3.0 metres at 1.53% copper and 2.0 metres at 2.61% copper.

The latest assay result from hole BKM32500-02 stood at 76.0 metres at 0.81% copper, including 6.0 metres at 1.61% copper, 8.5 metres at 1.09% copper and 7.0 metres at 1.35% copper

"Upon receipt of assays for the last five Beruang Kanan holes, an update of the resource estimate will be completed. Metallurgical test work is ongoing and mining studies will commence shortly. Results will be progressively reported," it said in a statement.

Asiamet intends to complete a preliminary economic assessment on the project in due course and it said all drilling on the deposit has been completed for 2015. It has kept one drill rig to continue scout drilling in the south region of the deposit, where it is testing a broad-copper-in-soil anomaly.

"The preliminary economic assessment will define the initial financial and operating parameters for the BKM project and provide the basis for a decision to move into feasibility studies," said Chief Executive Tony Manini.

Asiamet shares were down 1.3% to 1.58 pence per share on Thursday morning.

By Joshua Warner;; @JoshAlliance

Copyright 2015 Alliance News Limited. All Rights Reserved.

Related Shares

More News

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

Asiamet Resources Raises GBP2 Million To Develop Projects In Indonesia

(Alliance News) - Asiamet Resources Ltd on Tuesday said it has raised GBP1.8 million through a share placing to continue the development of the Beruang Kanan Main and Beutong projects, both in and

20 Aug 19 12:16

Asiamet raises ?1.75m to fund BKM and Beutong projects

(Sharecast News) - Copper and gold miner Asiamet Resources has raised roughly £1.75m by way of a placing of 50.0m ordinary shares of 3.5p each.

20 Aug 19 08:31

Login to your account

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