Asiamet Resources has commenced drilling to test multiple high potential copper and polymetallic targets identified in BK District of the KSK Contract of Work in Kalimantan, Indonesia. Initial drilling is taking place on the readily accessible BKZ prospect.
BKZ is a standalone high value polymetallic target less than 800 metres north of Asiamets feasibility stage Beruang Kanan Main (BKM) copper deposit.
A total of five holes are planned and first assays are expected by the end of September. BKZ is the first of multiple copper and polymetallic zinc-lead-copper-silver-gold targets to be drill tested over the coming months as feasibility studies are being completed at BKM.
Access into drill targets at BKW and BKS is currently being prepared.
Priority drill targets in the BK district 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. The historical IP geophysical data does not cover the main copper in soil anomaly at BKW, however the last section line clearly shows a strong chargeability anomaly developing and provides confidence that further copper mineralisation could be encountered when drilling commences in the core of the BKW area.
Asiamets CEO Peter Bird said, Having recently returned from a visit to the BKM project site I can reaffirm that the potential for additional copper and polymetallic mineralisation within the KSK Contract of Work appears exceptional.
There are multiple occurrences of outcropping high grade mineralisation outside of the current defined resource envelope. The operational team is moving quickly to test the grade and continuity of the copper mineralisation, which if successful could have an immediate positive impact on what are already favourable economics as defined in the PEA.
With the recent capital raise being very well subscribed our corporate focus is clear – advance the BKM Feasibility study to completion, simultaneously evaluate adjacent prospects with the potential to enhance the BKM PEA defined base case project, and continue to expand and assess the major Beutong Porphyry Copper-Gold Project in Sumatra.
The company aims to complete the feasibility study for BKM in early 2018 with a development decision expected thereafter.