leadf
logo-loader
viewAsiamet Resources

Asiamet Resources reveals high grade drill results from Beutong project

"Results received from the current round of drilling at Beutong East demonstrate both the robustness of the central mineralised core and the substantial Resource upside potential that remains to be delineated"

gold
The hole encountered mineralisation across 456 metres

Asiamet Resources Ltd (LON:ARS) told investors the latest results from drilling at the group’s 40%-owned Beutong project in Indonesia.

Drill hole BEU0900-08 encountered high-grade copper gold mineralisation near surface and the mineralisation, which also includes molybdenum, continues into the full drilled interval through to the end of the hole.

WATCH: Asiamet Resources announces maiden resource for BKZ deposit

The hole was drilled in the Beutong East Porphyry or BEP deposit, cut 456 metres of mineralisation and the drilling was curtailed as a result of rig capacity constraints.

Asiamet highlighted that the mineralisation exists beyond the boundaries of the current resource envelope and it remains open (the final 2.3 metres measured 1.14% copper).

The company also said that there’s still potential for Beutong Resource expansion. Meanwhile, further drilling will aim to expand the boundaries of the mineralisation at the BEP and the Beutong West Porphyry (BWP).

"Results received from the current round of drilling at Beutong East demonstrate both the robustness of the central mineralised core and the substantial Resource upside potential that remains to be delineated,” said Peter Bird, Asiamet chief executive.

“Mineralisation has already been extended well beyond the 2013 resource envelope with exceptional continuity …  Beutong's large copper-gold Resource base, when coupled together with nearby infrastructure (road, power and seaport) and the potential to assess a copper leaching process, as demonstrated by the initial sequential copper assaying results, positions the project as an increasingly rare copper development opportunity.”

He added: “This is at a time when the copper market is forecast to be moving into a substantial supply deficit and a stronger copper price environment. 

“Asiamet looks forward to keeping all stakeholders updated as the drilling and metallurgical test work programs continue over the coming 4 to 5 months."

Quick facts: Asiamet Resources

Price: 2.225 GBX

AIM:ARS
Market: AIM
Market Cap: £32.8 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Asiamet Resources named herein, including the promotion by the Company of Asiamet Resources in any Content on the Site, the Company receives...

FOR OUR FULL DISCLAIMER CLICK HERE

Morning Report: FTSE 100 rises as investors shrug off poor Chinese economic data

Headlines from the Proactive UK newsroom. The FTSE 100 rebounded 83 points to 5,825 as investors shrugged off more poor Chinese economic data and focused on corporate news. BT Group PLC (LON:BT.A) is said to have started talks to sell off a stake in its broadband infrastructure arm...

on 15/5/20

2 min read