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Asiamet Resources wowed by size of copper grades at BKM

Asiamet knew the north end of BK44 was a high-grade zone, but described the results from the two latest holes drilled as ‘miraculous’

copper
Copper grades were phenomenal

Steve Hughes, Asiamet Resources Limited’s (LON:ARS , CVE:ARS) head of exploration has detailed plans for its KsK CoW licence area in Kalimantan after more bumper grades from its BKM copper deposit.

Hughes said the grades seen at BKM from two holes drilled for geotechnical work as part of a feasibility study were ‘phenomenal’.

One hole contained 25% copper over a 1m sample at the northern end of the BK44 zone.

Hughes said Asiamet knew the north end of BK44 was a high-grade zone, but described the results from the two holes drilled as ‘miraculous’ with a 17m intercept of almost 4% copper and another just slightly north of that intercepting 69m at 1.4%.

All this mineralisation starts at the surface, he added, while the ore also leaches very quickly.

Allied to the very high grades, this reinforces the plan to have a starter pit in the north of BKM with high recoveries and a quick payback.

A forestry permit has also been granted for BKM so 'we can now drill again any time around the district'.

BKZ resource soon

At the nearby BKZ deposit, Hughes said he had finished modelling the 3-D geology and a maiden resource should be ready by the end of the month.

The 'unique thing about BKZ is that it is a near-surface polymetallic system with a very high-grade copper system underneath'.

Hughes said Asiamet ‘would attack the thing [BKZ] properly’ after the third year of mining at BKM.

Some of the recent drill holes also showed very high indications of lead/zinc so there is still work to do to prove up the full extent of the BKZ deposit, but 'it looks like it will a nice 5-7 year project'.

It will also mean Asiamet has two mining operations [BKM, BKZ] going at the same time. 

Beutong

Elsewhere, at Beutong (copper/gold) on Sumatra, the rig has been moved to the primary target of the current drill programme.

Hughes adds he would like to drill some very deep holes to establish if it, too, contains very high grades.

Baroi

"Baroi is my favourite project", said Hughes, adding "We are trying to get a permit".

It is underground, but with very high-grade vein systems - Historical results showed 35m at 5% copper and silver at 6 ounces per tonne.

The team is working hard on a permit, he said, and if possible Hughes wants to be drilling this year.

Mansur

At Mansur, assays from a couple of holes should be back soon and Hughes expects to write something over the next couple of weeks to let the markets know how it went.

“If those holes hit zinc, lead or silver I would envision a larger drill programme.”

Quick facts: Asiamet Resources

Price: 2.3 GBX

AIM:ARS
Market: AIM
Market Cap: £33.91 m
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