The London South East, Investing Matters Podcast - Episode 5 featuring Annabel Brodie-Smith, the Communications Director at The AIC is now LIVE. Listen here.

Less Ads, More Data, More Tools Register for FREE
Rolf Gerritsen, CEO at MetalNRG gives an operational update and sees an exciting year ahead
Rolf Gerritsen, CEO at MetalNRG gives an operational update and sees an exciting year aheadView Video
Pembridge Resources announces a new focus on the decarbonisation of renewables market
Pembridge Resources announces a new focus on the decarbonisation of renewables marketView Video

Latest Share Chat

Asiamet shares jump after high grade gold and silver discovery

Fri, 14th Jan 2022 10:57

(Alliance News) - Asiamet Resources Ltd shares surged on Friday after it announced the discovery of "exceptional" grades of gold and silver at its BKZ deposit in Central Kelimantan, Indonesia.

The White Rock, Canada-headquartered exploration and development company reported "stunning" findings including 99 metres at 2.42 grams per tonne of gold, 542 grams of silver, and 5.0% lead.

This is in addition to the previous findings of high-grade copper and zinc-lead-silver-copper-gold mineralisation at the site. All mineralisation at the BKZ site to date is "shallow and high value", which means it can probably be captured in a single large open pit, according to Asiamet.

Asiamet's share price jumped 16% to 2.87 pence in London on Friday morning.

Asiamet is "very confident that ongoing drilling is continuing to significantly expand the mineral inventory and economic value of the Kalimantan Surya Kencana licence," the company said.

Tony Manini, Asiamet's executive chair, commented: "Discovering such high-grade deposits close to surface is a very rare occurrence and opportunity. With the substantial increase in geological knowledge gained from this program the company is very confident of further expanding known mineralisation and discovering additional new deposits immediately adjacent to the proposed copper mine development at BKM."

By Elizabeth Winter; elizabethwinter@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

Related Shares

More News

AIM WINNERS & LOSERS: Sensyne Health plunges on liquidation fears

AIM WINNERS & LOSERS: Sensyne Health plunges on liquidation fears

14 Jan 22 11:20

Asiamet shares jump after high grade gold and silver discovery

Asiamet shares jump after high grade gold and silver discovery

14 Jan 22 10:57

TRADING UPDATES: Mercia buys more Intechnica; Anexo scores VW win

TRADING UPDATES: Mercia buys more Intechnica; Anexo scores VW win

22 Dec 21 21:22

DIRECTOR DEALINGS: Root Capital sells GBP2 million in Keystone Law

DIRECTOR DEALINGS: Root Capital sells GBP2 million in Keystone Law

30 Nov 21 15:54

Login to your account

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

Quickpicks are a member only feature

Login to your account

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