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Asiamet Resources (LON:ARS) told investors it continues to encounter high grade copper mineralisation at the Beruang Kanan Main deposit in Central Kalimantan, Indonesia.
Drilling, in fourteen holes, was designed to increase confidence and expand the BKM Resource.
The programme is now complete for 2015, and chief executive Tony Manini said he was very pleased with the findings.
“The two higher grade zones of copper mineralization recently identified within the deposit are showing good continuity and the shallow, high grades are outstanding,” he said in a statement.
“These highly positive attributes provide an opportunity for maximising revenue early in a mine's life when paying back development capital.
“We anticipate these characteristics to have a very positive impact on project economics when the mining studies are completed as part of the PEA for BKM.”
The company revealed today it had delineated strong copper in the southern part of the previously identified BK044 zone, meanwhile, further high grades were seen at the BK058 zone. At the BK044 zone, high grade results were also seen.
Highlight drill results included grades up to 5.88% copper, while the length of intersections ranged from 4.5 metres up to 46 metres.
Manini said investors would be updated as the final drill results became available.
“Asiamet looks forward to keeping all stakeholders updated as final BKM drill results and the results from ongoing scout drilling, Resource estimation and metallurgical test work come to hand in the coming weeks," he added.
The mining team at broker SP Angel, in a note, said: “The continuing success of the infill drilling programme in locating shallow high grade mineralisation bodes well for a positive outcome to the resource estimation work and the subsequent PEA on Beruang Kanan.”