Asiamet Resources Limited (LON:ARS) has reported further “excellent” results from the current infill and extension drilling program being undertaken at the company's 80%-owned Beutong copper project in Indonesia.
The AIM-listed firm said strong mineralisation has been confirmed, extending beyond the 2014 resource envelope in all holes completed thus far.
It added that at Beutong East Porphyry, drill hole BEU500-01 confirmed a broad interval of high grade, near surface copper-gold-molybdenum outside the current resource envelope.
Asiamet said infill drilling confirmed moderate-grade porphyry copper-gold-molybdenum mineralisation along the eastern end of the Beutong West Porphyry, with drill hole BEU1350-01 highlighting the potential for mineralisation to extend easterly into the gap between the east and west porphyry.
It added that copper mineralisation in both BEU500-01 and BEU1350-01 comprises covellite, chalcocite and digenite with minor chalcopyrite, demonstrating that the mineralised zones extend both laterally and at depth.
The group said both holes were terminated due to rig capacity.
Peter Bird, Asiamet's chief executive officer commented: “Beutong's large copper-gold Resource base, when coupled together with excellent 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: “Asiamet looks forward to keeping all stakeholders updated as the drilling and metallurgical test work programs continue over the remainder of 2018."