Asiamet Resources continues drilling and advancing Bankable Feasibility Study
The drilling continues to intersect broad intervals of copper mineralisation with discrete high grade intervals, at both the Northern and Southern area with individual samples (1-metre intervals) assaying up to 3.99% copper.
To date 35 total holes and 4898 meters has been drilled by Asiamet Resources at the BJM project.
The company said that geotechnical holes are being drilled along the proposed western pit wall in order to fully assess the rock properties and structural characteristics in the area to re-evaluate the current pit design and enhance the overall project economics.
Shares in Asiamet ticked up 1% following the release.
Peter Bird, Asiamet Chief Executive Officer said: “In line with expectations, wide intervals of shallow high-grade mineralisation have reported in the north of the planned pit shell while moderate intervals of medium grade copper mineralisation have been intersected in the south. Mineralisation continues from surface to depth in the northern part of the proposed pit and infill drilling highlighted potential for modest extensions around the southern margin of the deposit.”
The firm has strong institutional backing, highlighted last week when JP Morgan Asset Management purchased approximately 94m of shares in Asiamet, taking its total stake to 9.37% of the firm.
“Data collected from this limited drilling combined with a rework of the pit design aims to upgrade and capture Inferred Resources currently sitting inside and on the edges of the pit shells into the mine plan.”
“A successful outcome from this work is expected to significantly enhance project economics and the robustness of the BKM BFS ahead of project financing.”
He added that further results are expected to be reported as they are received to ultimately feed into the BFS.
Follow News & Updates from Asiamet Resources here:
Disclaimer & Declaration of Interest
The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.