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Asiamet Resources Ltd.
Summary
| Project: | Beruang Kanan | |
|---|---|---|
| Deposit: | BKM | |
| Location: | Indonesia | |
| Commodities: | Copper | |
| Date: | 11/15/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 15-11-2016: Asiamet Resources Ltd. announces an Exploration/Drilling Update report for its BKM deposit at the Beruang Kanan project. Drilling results incl. 17.0m @ 1.57% Cu from 1.0m. Asiamet Resources Limited ("ARS" or the "Company") is pleased to provid | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Stephen Hughes (Internal) | |
| ABSTRACT: | Asiamet Resources Limited ("ARS" or the "Company") is pleased to provide an update on Resource evaluation drilling being undertaken as part of feasibility studies on the Beruang Kanan Main ("BKM") copper deposit in Central Kalimantan, Indonesia.A total 56 holes for 5600 meters of diamond core drilling have been completed and assay results from a further ten holes drilled in the northern area of the deposit are reported below. An additional 62 holes/5400 meters are planned.Feasibility study Resource drilling completed to date has emphasized a number of key attributes with potential to enhance BKM project economics.Excellent continuity of copper mineralization has been established across a significant proportion of the deposit with high rates of conversion from Inferred Resource to higher confidence Measured and Indicated Resources anticipated when the new Resource estimate is completed.Expectation that a considerable part of the Resource will be available for economic evaluation to determine Mineral Reserves. Only Measured and Indicated Resources can be considered in the economic evaluation and subsequent calculation of Mineral Reserves, hence valuations placed on these higher confidence level Resources are generally considerably greater than those for Inferred Resources. This represents a major de-risking and value enhancing step for the BKM project.Coherent higher grades established within the BKM044 and 058 zones provide an excellent opportunity to selectively mine and enhance production early in the project life.Extensive areas of very shallow mineralization with potential to further reduce the already low stripping ratio outlined in the BKM Preliminary Economic Assessment ("PEA") (refer ARS news release April 5, 2016) have been delineated. A lower strip ratio has the potential to further reduce the operating costs projected in the PEA. | |
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