Asiamet Resources (ARS) is commencing additional drilling and geotechnical work underway at Beruang Kanan Main Copper Project (BKM).
The company aims to optimise the open pit mine design, with the outcomes from this work having the potential to materially impact the project financing outcomes.
It has also re-commenced exploration near BKM; testing several high potential targets below and adjacent to BKM and BKW, with drilling expected to be done by early 2019.
Peter Bird, Asiamet's Chief Executive Officer said: "Following thorough review of the study work undertaken to date we are clearly of the view that this additional piece of work should significantly enhance the outcomes of the BKM BFS when complete.”
“The planned drilling is expected to substantially improve understanding of the Resource and the geological and geotechnical inputs into mine design, leading to enhanced overall project economics”
The BKM project has a NI43-101 (equivalent to JORC) compliant resource of 432,000 tonnes of copper, with 75% measured and indicated.
A commercial scale conventional SX-EW heap leach operation is targeting a production of 25,000 tonnes LME grade copper per annum for 8 years.
Base and precious metal rich volcanogenic massive sulphide (VMS) deposits almost universally occur in multiple deposit clusters and this style of mineralisation in the BK district was confirmed by the delineation of the BKZ deposit.
Peter Bird added: "The very recent recognition of a potential new VMS district on our tenements in Central Kalimantan is extremely exciting as these deposits are recognised globally for their potential company maker value per tonne metrics and almost universally occur in clusters."
Surface exploration work is also planned for the Baroi project in preparation for drilling upon receipt of a forestry permit.
He continued: “We are looking forward to unlocking this value through our ongoing exploration effort and expect to be reporting a strong news flow from these programmes as a result"
All seven holes (3,528 metres) drilled to date by the company have intersected wide intervals of porphyry copper-gold-molybdenum mineralisation.
The results of drilling and associated study work will be reported as they become available.
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