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Asiamet's BKZ delivers maiden resource estimate
Copper and gold exploration and development firm Asiamet Resources has reacted positively to an initial resource estimate for the BKZ polymetallic deposit in at the KSK project in Kalimantan, Indonesia.
The resource estimate for the deposit, located adjacent to existing and proposed infrastructure for the company's BKM copper project, is divided into the BKZ upper polymetallic zone (BKZ-UPZ) and the BKZ lower copper zone (BKZ-LCZ).
The deposit at the KSK contract of work is wholly owned by Asiamet Resources.
BKZ-UPZ's inferred mineral resource comprised of a high-grade domain of 750,000 tonnes at 8% zinc, 3.4% lead, 50 g/t silver and 0.35 g/t gold, containing 132m pounds of zinc, 57m pounds of lead, 1.2million oz of silver and 8,400 oz of gold, at a 4% zinc cutoff grade.
Meanwhile, BKZ-LCZ's inferred mineral resource showed 1.1m tonnes of ore at 1.1% copper and 13 g/t silver, for 26m pounds of copper and 460,000 oz of silver, at a 0.5% zinc cutoff grade.
Peter Bird, chief executive of Asiamet Resources, said: "The BKZ inventory has the potential to significantly enhance the economics of any mine development in the area. Our ability to discover and delineate this high grade, near surface polymetallic deposit in such a short timeframe clearly demonstrates the largely untapped potential of both the BK district and the broader KSK CoW."
The company said it intends to continue with exploration drilling and testing extensions to mineralised domains at KSK, with an aim of expanding its resource base.
"BKZ remains open in multiple directions and all geological indicators suggest the BKM-BKZ corridor and multiple surrounding targets will continue to deliver further substantial growth in the Company's mineral inventory over the coming months and years," said Bird.
As of 1136 BST, Asiamet Resources' shares were down 1.05% at 11.75p.