LONDON (Alliance News) - Asiamet Resources Ltd said Tuesday that feasibility study drilling at the Beruang Kanan Main copper deposit in Indonesia has shown extensive mineralisation at the site and high grade copper areas.
AIM-listed Asiamet said drilling established "excellent continuity" of copper mineralisation across a significant proportion of the deposit and an expectation that a considerable part of the resource will be available for the economic evaluation, which determines mineral reserves at the site.
"This represents a major de-risking and value enhancing step for the BKM project," said Asiamet.
Asiamet noted that the drilling also established coherent higher grades of copper within the BKM044 and 058 zones in the project, which will provide "an excellent opportunity to selectively mine and enhance production early in the project life".
"Asiamet's focused strategy for the development of the company and its projects is very much on track. Results from the BKM feasibility study have met or exceeded expectations to date and corporate activities relating to the Beutong and Jelai licence conversions, and project funding and development, have been considerably progressed," said Tony Manini, chief executive officer.
Shares in Asiamet were flat at 2.80 pence Tuesday.
By Adam Clark; adamclark@alliancenews.com
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