Asiamet Resources Limited (LON:ARS) has boosted the measured and indicated copper resource at its Beruang Kanan Main deposit by 207%, following extensive evaluation work carried out over the past 12 months or so.
Chief executive Peter Bird called the outcome of the resource upgrade “outstanding”, given that 75% of the overall resource is now accounted for in the measured and indicated categories, and 73% sits inside the pit design as envisaged in the company’s preliminary economic assessment.
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The BKM copper deposit is now estimated to contain measured and indicated resources of 49.2 mln tonnes of copper ore grading 0.7%, for a total of 322,600 tonnes of contained copper.
There’s also an additional inferred resource of 17.7 mln tonnes at a grade of 0.6%, for a total of 109,300 tonnes of copper.
Asiamet expects to complete a feasibility study in early 2018 and make a development decision at that time.
“The conversion to mineral reserves is anticipated to be strong when mining and metallurgical studies are completed in coming months,” added Bird.