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Asiamet reports excellent continuity of copper at BKM

Results from ongoing feasibility work continue to provide encouragement at BKM
Asiamet reports excellent continuity of copper at BKM
A significant copper resource is emerging at BKM

Asiamet Resources Ltd (LON:ARS) has reported excellent continuity of copper mineralisation from the latest round of drilling work at its Beruang Kanan Main project (BKM).

Among the better intercepts were 29.5 meters at 0.85% copper, including 11.0 meters at 1.25%, 17 meters at 1.57% copper, including 7meters at 2.54% Cu, and  19.0 meters at 1.16% copper, including 9 meters at 2.17%.

Much of this mineralisation lies close to surface.

The work forms part of an ongoing feasibility study designed to establish the economic parameters at BKM.

“Based on the work completed thus far, a high rate of conversion from inferred to measured and indicated resources is anticipated when the drilling and a new resource estimate is completed,” said chief executive Tony Manini.

“This is an extremely pleasing and important outcome as the drill out and upgrade of Inferred to Measured and Indicated Resources is a major de-risking and value enhancing step for all projects. 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.”

Broker SP Angel said: “Asiamet’s resource evaluation drilling programme at BKM is now approximately half complete and is already identifying areas of higher grades and lower overburden (waste) cover which should provide scope for optimisation of the mine design and opportunities to enhance the economic returns of the project when the updated resource estimation is available for use in the feasibility studies.”

Shares added 5.36% on the day to stand at 2.95p each.

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