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Asiamet Resources says ongoing drilling at BKZ copper prospect continues to intersect high-grade mineralisation

Published: 01:08 20 Mar 2018 AEDT

Copper
Asiamet added that a maiden resource estimate for both mineralised domains at the BKZ deposit is expected to be completed in May 2018

Asiamet Resources Limited (LON:ARS) has said ongoing resource delineation drilling at the BKZ prospect in Indonesia continues to intersect high-grade polymetallic and copper-silver mineralisation, as predicted. 

Peter Bird, Asiamet's chief executive officer commented: "The excellent results generated from our drilling programmes at both the BKM and BKZ projects over the past three years clearly demonstrate the intrinsic value of Asiamet's project portfolio.”

READ: Asiamet Resources eyeing plenty of potential share price catalysts

He added: “This latest batch of results from Resource delineation drilling at BKZ demonstrate excellent internal continuity of both the upper high-grade polymetallic and the underlying copper-silver mineralisation and increase the Company's confidence in defining an initial high value polymetallic deposit with potential to leverage off the proposed BKM mining infrastructure.

“With the recent financing completed we look forward to reporting further results from the BKZ infill drilling programme and the initial Resource in May, together with further results from the final stages of the BKM bankable feasibility study and first results from our current programme of drilling and metallurgical testwork underway at the Beutong porphyry Cu-Au deposit."

The BKZ prospect is located in Central Kalimantan on the Kalimantan Surya Kencana 6th Generation Contract of Work, less than 800 metres from the BKM copper project which is at bankable feasibility study stage.

Maiden resource estimate expected to be completed in May

In a statement, Asiamet said the highlights of recent results include broad intervals of high-grade massive sulphide mineralisation in the upper polymetallic zone, including 17.0m at 11.4% Zinc, 6.0% Lead and 383g/t Silver and 30.0m at 6.0% Zinc, 4.0% Lead and 62g/t Silver.

The AIM-listed group also noted broad interval of high-grade copper-silver mineralisation in the lower zone, including 29.5m at 1.86% Cu and 50g/t Ag

The miner said assay results confirm up to 30.7% zinc, 17.7% lead, 158g/t silver over 1-metre sample intervals in the polymetallic zone and up to 6.6% copper over 1-metre sample intervals in the interpreted "Feeder Structure" in the Lower Zone.

Asiamet added that a maiden resource estimate for both mineralised domains at the BKZ deposit is being prepared by Hackman & Associates Pty Ltd and is expected to be completed in May 2018.

In afternoon trading, Asiamet shares were 4.4% lower at 13.5p, having gained over 70% in value over the past month, thanks to previous drilling news and a well-supported fund-raising.

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