Asiamet Resources has identified two near-surface, high-grade areas within its Beruang Kanan Copper Project in Central Kalimantan, Indonesia, that it expects will have a highly positive impact on the economics of the project. Asiamet was formerly known as Kalimantan Gold.
The latest drill results from Beruang Kanan Main (BKM) deposit include 35 metres of mineralization from 20 metres depth @ 1.73% copper. Within that intersection was an 11 metre section @ 3.49% copper and a 2 metre section @ 10.15% copper. Another hole intersected 55 metres @ 0.58%, with a section of 1 metre @ 12.5% copper.
The drilling is part of a program of 80 holes for 6500 metres of resource evaluation work. To date Asiamet has completed 66 holes for 5605 metres and further assay results are expected shortly.
Asiamet’s CEO Tony Manini said, “The delineation of these two discrete areas of higher grade copper mineralization within the BKM resource envelope is a promising development for the Beruang Kanan project. With further drilling we expect the continuity of these two shallow zones to be confirmed and anticipate that they will have a highly positive impact on the project economics when our evaluation of various mining scenarios commences in the fourth quarter.
“Asiamet looks forward to providing further results from ongoing drilling and metallurgical test work, and a resource update for BKM, in the coming weeks.”
The main zone of the BK deposit is estimated to be host to a 47 million tonne resource grading 0.6% copper. It is a shallow dipping and follows the contour of a hill.
Work going forward will concentrate on assessing the potential of the copper mineralization within the first 50 metres from surface. This suggests the strip ratio ought to be extremely low. In turn the low strip ratio ought to mean low cost of production – assuming the metallurgy works and the grade is economic.