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Asiamet Resources lauds "strong metallurgical drill results" at BKM

The feasibility study work continues to advance very well

Drilling for copper
The most prevalent copper mineral species zone is chalcocite - covellite dominant

Asiamet Resources Limited (LON:ARS, CVE:ARS) said its confidence in the BKM copper project in Indonesia has been boosted by the latest drilling results.

Metallurgy drill holes have intersected near-surface high-grade copper mineralisation at the NK44 and BK58 zones.

Highlights from eight of the nine drill holes include:

  • BKM32230-01: 115.5 metres (m) at 1.01% copper (from 2 metres) and hole terminated in 2.56% Cu (copper)
  • BKM31720-01: 3.0m at 1.42% copper (from 9.0 metres) and 8.0m at 2.15% copper (from 15.0 metres)
  • BKM31780-01: 59.0m at 0.68% copper (from 4.0 metres)
  • BKM32080-01: 4.0m at 1.42% copper (from 1.0 metres); 8.0m at 0.77% copper (from 22.0 metres); 14.0m at 0.70% copper (from 42.0 metres); 5.0m at 0.66% copper (from 63.0 metres)
  • BKM32425-02: 24.3m at 0.82% copper (from 1.7 metres)
  • BKM32485-01: 41.5m at 0.74% copper (from 25.0 metres)
  • BKM32580-01: 10.0m at 1.28% copper (from 5.0 metres)

Sequential assay interpretation indicates that blends or mixes of copper mineral species vary laterally and vertically across the deposit; however, they form broad and substantial spatially consistent zones. 

The copper mineral species zones defined at BKM include: chalcocite dominant; chalcocite - covellite dominant; covellite, bornite and chalcopyrite mixed assemblage and chalcopyrite dominant.

READ: Asiamet Resources to expand drilling programme at BKZ after intersecting further high grades

The most prevalent copper mineral species zone is chalcocite - covellite dominant, which occurs in both the BK44 and BK58 zones. 

The 2017 metallurgy test work programme is being designed to establish the expected heap-leach recoverable Cu parameters from the copper mineral species zones that can potentially provide the majority of production for the feasibility study mine plan.

The areas targeted for a potential high-grade starter pit include the southern area of BK44 Zone and near-surface high grade copper mineralisation at BK58 Zone. 

Asiamet said drill hole BKM32230-01 tested a broad zone with chalcocite-covellite as the dominant copper species, and this hole returned exceptional results. 

WATCH: Asiamet expands programme at BKZ after new high grade hits

"These strong metallurgical drill results validate our previous resource definition work and hence provide strong encouragement from a future mine planning and execution perspective,” said Peter Bird, Asiamet's chief executive officer.

“For the first three to four years of operation at BKM it is critical to ensure a strong production and cash flow profile for the proposed mining operation. This final phase of metallurgical test work builds upon the results of the previous test work currently being finalised and specifically targets the highest grade, highest solubility and likely highest recovery mineralisation from the BK44 and BK58 zones,” he continued.

“The potential to mine and schedule this material early in the mine life is expected to strongly impact project economics and enhance cash flows during the early years of capital payback. The feasibility study work continues to advance very well and we look forward to reporting the column leach programme results as they are finalised," Bird said.

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Price: 2.85 GBX

AIM:ARS
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Market Cap: £26.44 m
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