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Asiamet Resources Ltd.
Summary
| Project: | Beruang Kanan | |
|---|---|---|
| Deposit: | BKM | |
| Location: | Indonesia | |
| Commodities: | Copper | |
| Date: | 5/24/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 24-5-2017: Asiamet Resources Ltd. announces an Exploration/Drilling Update report for its BKM deposit at the Beruang Kanan project. Drilling results incl. 144.5m @ 0.85% Cu from 1.0m. Recent drilling confirmed further extensions to the BKM Mineralisation | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Stephen Hughes (Internal) | |
| ABSTRACT: | Recent drilling confirmed further extensions to the BKM Mineralisation both along strike and at depth. Chalcocite-covellite copper mineralisation was intersected 50m south of the Preliminary Economic Assessment ("PEA") open pit design and thick intervals of moderate to high-grade copper mineralisation extending more than 100 metres below the base of the conceptual open pit design, as proposed in the PEA were intersected on section line BKM32300. Resource infill drilling results have confirmed a very robust Resource with excellent continuity. As a result it is expected that a large proportion of the current BKM Resource will be upgraded to the higher confidence Measured and Indicated Mineral Resource categories when the new Resource statement is completed. This will then feed into the mining engineering studies and the reporting of initial Ore Reserves for the BKM project. Peter Bird, Asiamet's Chief Executive Officer commented: "The BKM resource upgrade and infill drilling has been completed on time at the end of April 2017 as part of the Feasibility Study plan. Results within this release and previous releases this year have confirmed the continuity of mineralisation within the deposit has more than verified that which was assumed in the PEA. We are very comfortable with the original PEA assumptions and the recent extensions to mineralisation outside the previously defined envelope encourage us from the perspective of having the ability to grow our resource base over time. The immediate task now is to incorporate all the assay results into an updated Resource model for use in the mine design and engineering work, following which an initial Mineral Reserve can be reported" | |
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