ASIAMET Resources aims to complete a feasibility study for its Beruang Kanan Main (BKM) Copper Project in Kalimantan early next year with a development decision expected shortly after. The study will incorporate the recently upgraded resource estimate which showed a measured and indicated resource of 711.3 million pounds of copper at a 0.2% copper cut-off.
The estimate increased measured and indicated resources by 207% on the 2015 report. It stands at 49.2 million tonnes @ 0.70% copper. There are also 28.7 million tonnes of inferred resources @ 0.6% copper for 241 million pounds.
As part of the study Asiamet is undertaking engineering and metallurgical studies as well as further optimisation of the BKM open pit design.
A leachable copper model for the BKM deposit will be constructed using sequential copper analysis data from all post 2013 drill core samples and an initial mineral reserve will be generated from the measured and indicated component of this model.
The company has also commenced drilling to test multiple high potential copper and polymetallic targets identified in BK district. Initial drilling is taking place on the readily accessible BKZ prospect, which is a standalone, high value polymetallic target less than 800 metres north of the BKM deposit.
BKZ is the first of multiple copper and polymetallic zinc-lead-copper-silver-gold targets to be drill tested over the coming months. Five holes were planned and were expected to be completed by the end of September. Access into drill targets at the BKW and BKS prospects is being prepared.
Priority drill targets in the BK district, which is in Asiamet’s KSK Contract of Work, have been generated using a combination of geological mapping, rock/soil geochemical sampling and Induced Polarisation (IP) geophysics.
Drilling at BKM in the past 2-3 years has clearly shown mineralisation is commonly associated with highly elevated copper in soil geochemistry coincident with a well-defined near surface IP geophysics response.
IP geophysics highlights mineralisation at BKM and identifies nearby targets for drilling at BKW, BKS and proximal to BKM.
Asiamet’s CEO Peter Bird said, “There are multiple occurrences of outcropping high grade mineralisation outside the current defined resource envelope and the operational team is moving quickly to test the grade and continuity.”