TIDMARS
RNS Number : 8074K
Asiamet Resources Limited
06 September 2021
6 September 2021
Asiamet KSK Copper Project Drilling
Asiamet Resources Limited ("Asiamet" or the "Company") is
pleased to provide an update on the resource extension and
exploration drilling in progress on its 100% owned KSK Contract of
Work (KSK-CoW) located in Central Kalimantan, Indonesia.
Highlights
-- Geological review confirms the BKM copper and BKZ
polymetallic Zn-Pb-Ag-Cu-Au deposits are part of the same 3km long
Volcanic Hosted Massive Sulphide system (VHMS).
-- 3,000-metre drill program underway to test priority
exploration targets and expand the current JORC Compliant
Resources.
-- First three drill holes completed (approx. 440 metres) at BKZ
have intersected strong visible copper and polymetallic
mineralization outside the current Resource envelope, assays
pending.
-- Delineating additional resources and resource growth targets
in close proximity to the planned BKM mine site aims to clearly
demonstrate the potential for a longer mine life and enhances the
production optionality and value of the KSK-CoW.
Resource Expansion Drilling
A comprehensive review of the geology and exploration potential
adjacent to the current Minerals Resources and Ore Reserves
(Appendix 1) was recently completed by Asiamet's Chief Consulting
Geologist, Patrick Creenaune. The review focused on developing a
stronger understanding of the geological controls on mineralization
and the relationships between the different styles present. This
work strongly suggests that the BKM copper and the BKZ upper
polymetallic Zn-Pb-Ag and lower Cu-Ag mineralization are all part
of the same three-kilometre long Volcanic Hosted Massive Sulphide
system (VHMS). The geology and mineralization of VHMS deposits have
been extensively documented and the predictive geological model
developed from this work has been combined with the geophysics to
identify potential for strike and depth extensions to the defined
Resources at both the BKM copper and BKZ polymetallic deposits. The
current Resources remains open in several areas and the potential
to increase the Mineral Resource inventory is considered high.
Evaluation of the BKM drill core coupled with Induced
Polarisation (IP) geophysical data collected by Freeport during
2011-2014 clearly suggests that the BKM Resource is open at depth
to the North-East (Target 1) and South-West (Target 2). Both
targets display steep trending IP chargeability highs interpreted
to represent feeder pipe structures beneath the near surface BKM
copper mineralization. At the BKZ deposit both the high grade upper
polymetallic Zn-Pb-Ag lenses and underlying Cu-Ag mineralization
remain open in most directions. Drilling in these areas aims to
expand the initial Mineral Resource delineated by the limited
program completed in May 2018.
Successfully expanding the mineral inventory around the BKM
copper project and clearly demonstrating additional opportunities
for further Resource growth will add significant value and continue
to de-risk the project. Likewise, as engineering studies evaluate
the potential for producing a metals rich (Cu from BKM and Zn-Pb-Ag
from BKZ) pyrite concentrate for sale into the Indonesian nickel
industry, better definition of the various sulphide ore types and
the upside potential associated with them further enhances the
production optionality and value of the KSK-CoW.
Four key targets for the 2021 drill program are illustrated in
Figure 1 and detailed below:
To view the image, please click on the following link
https://asiametresources.com/wp-content/uploads/2021/09/Figure-1-.jpg
BKM - BERUANG KANAN MAIN
Target 1 - NE extensions to the BKM Resource
The BKM Resource remains open to the east and at depth. Drilling
will test for extensions at depth and to the east of copper
mineralisation previously intersected in hole BKM32400-10 i.e 50m
@1.12% Cu from 115.5m and 11.35m @ 2.14% Cu from 212.5m (Figure 2).
Successful drilling in this north-east part of BKM has the
potential to increase Resource tonnage by several million tons.
To view the image, please click on the following link
https://asiametresources.com/wp-content/uploads/2021/09/Figure-2.jpg
TARGET 2 - SW extensions to the BKM Resource
The BKM Resource remains open to the south-west at depth where
7m @ 1.02% Cu was intersected in the bottom of drill hole
BKM31750-06. A 45 degree west dipping IP chargeability high which
correlates well with the near surface copper mineralization extends
to depth in this area but has not been drill tested (Figure 3).
Potential exists for significant tonnages of +1% copper.
To view the image, please click on the following link
https://asiametresources.com/wp-content/uploads/2021/09/Figure-3.jpg
BKZ - POLYMETALLIC Zn-Pb-Ag-Au and Cu-Ag
BKZ mineralization displays strong characteristics of high grade
VHMS Zn-Pb-Cu-Precious Metals deposits, with an upper zone (UPZ) of
bedded stratiform Zn-Pb-Ag-Au and a lower zone of stockwork Cu-Ag
(LCZ). The lower zone stockwork copper at BKZ is very similar to
the copper mineralization at BKM and has the potential to host a
similar size deposit. Advancing the size and understanding of the
BKZ deposit is highly likely extend the life of the BKM copper
project.
TARGET 3 - Extensions to the BKZ Lower Copper Resource
The BKZ - LCZ Resource is open at depth and laterally to the
east, west and north. Several previous drill holes ended in
high-grade copper mineralization including 6.4m @ 1.57% Cu in the
bottom of hole BKZ33650-02 (Figure 4). Drilling aims to
significantly increase the +1% copper + silver mineral resource in
the LCZ.
TARGET 4 - Extensions to the BKZ Upper Polymetallic Resource
The BKZ-UPZ Resource sits above the BKZ-LCZ and is open
laterally in several areas. Drilling is planned to test for
westerly up dip extensions of high grade, near surface,
polymetallic mineralization previously intersected in hole
BKZ33650-05 i.e. 25.9m @ 4.18% Zn, 13.5g/t Ag.
To view the image, please click on the following link
https://asiametresources.com/wp-content/uploads/2021/09/Figure-4.jpg
APPENDIX 1
Ore Reserves and Mineral Resources
The BKM copper project has JORC compliant Ore Reserves and
Mineral Resources:
BKM Ore Reserves at a 0.2% Cu cut-off grade comprise:
-- 21.1Mt @ 0.6% Cu for 137kt of contained copper in the Proved Reserve category
-- 30.4Mt @ 0.5% Cu for 166kt of contained copper in the Probable Reserve category
-- 51.5Mt @ 0.6% Cu for 303kt of contained copper in the Proven
and Probable Ore Reserves category
BKM Mineral Resources at a 0.2% Cu cut-off grade comprise, total
Resources of 69.6Mt @ 0.6% Cu for 451.9k of contained copper:
-- 20.6Mt @ 0.7% Cu for 148.5kt of contained copper in Measured Resource
-- 34.1Mt @ 0.6% Cu for 212.6kt of contained copper in Indicated Resource
-- 15Mt @ 0.6% Cu, for 90.8kt of contained copper in Inferred Resource
The BKZ deposit approximately 800 metres north of the BKM
project has Mineral Resources comprising:
Upper Polymetallic Zone Inferred Mineral Resource:
High Grade Domain
-- 750kt @ 8.0% Zinc, 3.4% Lead, 50g/t Silver and 0.35g/t Gold (at 4% Zn cut-off grade)
Low Grade Domain
-- 590kt @ 1.6% Zinc, 0.5% Lead, 13g/t Silver and 0.15g/t Gold (at 1% Zn cut-off grade)
Lower Copper Zone Inferred Mineral Resource comprises:
-- 1.1Mt @ 1.1% Copper and 13g/t Silver (0.5% copper cut-off grade)
ON BEHALF OF THE BOARD OF DIRECTORS
Tony Manini, Executive Chairman
For further information, please contact:
-Ends-
Tony Manini
Executive Chairman, Asiamet Resources Limited
Email: tony.manini@asiametresources.com
Investor Enquiries
Sasha Sethi
Telephone: +44 (0) 7891 677 441
Email: Sasha@flowcomms.com / info@asiametresources.com
Asiamet Resources Nominated Adviser
RFC Ambrian Limited
Bhavesh Patel / Stephen Allen
Telephone: +44 (0)20 3440 6800
Email: Bhavesh.Patel@rfcambrian.com / Stephen.Allen@rfcambrian.com
Optiva Securities Limited
Christian Dennis
Telephone: +44 20 3137 1903
Email: Christian.Dennis@optivasecurities.com
Follow us on twitter @AsiametTweets
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