Asiamet makes progress with BKM study

Asiamet Resources says excellent progress is being made on the feasibility study for the Beruang Kanan Main (BKM) copper deposit in Indonesia, particularly with the key long lead time items.

Field programs are now fully operational and the company has appointed Mark Young, a leader of mineral resources and infrastructure developments globally, to lead the owners team for the study.

He has led project teams in numerous countries and commodities for both entrepreneurial explorer-developers and major mining companies. In the last decade he has been extensively involved in greenfield mine developments, including the Amaam coal project in far eastern Russia for Tigers Realm Coal and BHP Billiton’s major potash developments in Canada. He has also worked on BHP Billiton’s Chilean copper projects and on Rio Tinto’s coal and iron ore operations in Australia.

Asiamet has also contracted an array of specialist companies in the fields of metallurgy, drilling, geology, and pit and plant design. Local Indonesian consultants, service providers and manpower are being utilized wherever possible.

“The BKM feasibility study represents a major de-risking phase for the project, the outcomes of which will be used by a wide range of stakeholders, including potential financiers, to assess the project’s viability,” said Asiamet’s chief executive Tony Manini.

“Securing the services of such a highly experienced study manager as Mark Young to lead this critically important phase in the life of the project is extremely pleasing. We have also assembled a first-class team of consultants and service providers and now look forward to advancing the studies and progressively receiving results.

“A comprehensive infill and extension drilling program is well under way and we anticipate receiving and reporting the first drill results from this exciting program shortly.

“As the feasibility study work programs are being advanced, important corporate activities continue to be progressed. Renewal of existing permits and conversion of licences for the Beutong and Jelai projects are in the final stages of processing and corporate joint venture – partnership initiatives to ensure we are well placed to complete the feasibility studies are actively being pursued.”

The aim of the resource infill and extension drilling program is to upgrade a majority of the inferred mineral resource of 49.7 million tonnes @ 0.6% copper containing 657 million pounds of copper, to the measured and indicated categories.

Four drills are operational with 13 holes for 1585 metres of diamond core drilling completed of the 100 hole program. Two large diameter (PQ size) core holes have also been completed to collect fresh bulk samples for detailed metallurgical test work.