LONDON (Alliance News) - Asiamet Resources Ltd said Tuesday additional resource evaluation drilling at the Beruang Kanan Main copper deposit in central Kalimantan, Indonesia continues to intersect "broad" intervals of copper mineralisation.
A total of 35 holes and 4,898 metres of diamond core drilling have been completed. Highlights from the most recent drilling include 34.8 metres at 0.94% copper from 1.3 metres from hole BKM32540-01.
Drill hole BKM32490-01 highlights include 12.5 metres at 1.26% copper from 17.0 metres. Asiamet said the drilling results from BKM31500-02 and BKM31500-04 at the southern end of the pit "open the possibility" that copper mineralisation may extend further south of the existing resource.
Chief Executive Officer Peter Bird said: "Along with these most recent results, Asiamet is pleased to report the drilling programme to enhance geological and geotechnical inputs into the Beruang Kanan Main bankable feasibility study open pit mine design has been progressing extremely well. In line with expectations, wide intervals of shallow high-grade mineralisation have reported in the north of the planned pit shell while moderate intervals of medium grade copper mineralisation have been intersected in the south. Mineralisation continues from surface to depth in the northern part of the proposed pit and infill drilling highlighted potential for modest extensions around the southern margin of the deposit."
Shares in Asiamet were down 2.2% Tuesday at 5.23 pence each.
Asiamet Res (ARS)