Asiamet Resources expects to deliver maiden resource estimate for Indonesia prospect in May

Asiamet Resources Limited (LON:ARS) said it expects to deliver a maiden resource estimate for its BKZ polymetallic prospect in May as it updated on progress with the drill bit.

The asset, located in Central Kalimantan, Indonesia, has continued to yield near-surface base and precious metal-rich mineralisation, the company said.

To date Asiamet has completed 27 of the 35 planned holes with the 3,500-metre infill programme expected to be completed by the middle of next month.

Successful progress

Thus far the work has been successful in “confirming the continuity of mineralisation between the 50-metre spaced section lines”.

For example, within the BKZ upper polymetallic zone, a drill hole intersected sphalerite, galena and pyrite in massive sulphide style mineralisation.

This was followed downhole by strongly silicified and brecciated rock cut by chalcopyrite-bornite veins, the company said.

It added that all holes that pierced the BKZ lower copper-silver zone “terminated in intensely silicified rock that is oxidised and hematite-rich”. 

Indications of a porphyry copper system?

The presence of bornite-chalcopyrite mineralisation and the magnetite/hematite alteration in the deeper parts of several holes was described as “particularly encouraging” by chief executive Peter Bird.

This is because these geological features are typically associated with porphyry copper systems in Indonesia.

“The presence of a prominent magnetic feature in the geophysical data provides a priority target which we look forward to drill testing later in the year with some deeper holes,” he added.

In the same update, the company said a site visit was planned to Beutong, the firm’s other project on Kalimantan.

Preparations in train at Beutong

The idea is to meet up with local government and community stakeholders ahead of drilling there.

The initial drill plan is to test the lateral and vertical distribution of chalcocite, covellite, digenite and chalcopyrite mineralisation at the Beutong East Porphyry.

This will provide additional data to confirm “internal continuity of the deposit”.  

Story by ProactiveInvestors