Stock Market News
Asiamet intersects highest copper grades at Indonesian asset to date
Explorer and developer Asiamet Resources saw positive results from its recent geotechnical drilling programme, completed as part of the group's feasibility studies at its BKM Copper Project in Central Kalimantan, Indonesia.
Highlights from the newly drilled holes included the highest grades of copper mineralisation intersected from surface drilling at BKM to date, recording as much as 17 metres at 3.6% copper and eight metres at 6.5% at the central area of the BK44 zone.
The northern area of the asset recorded as much as 4.2m at 12.3% and several one-metre sample intervals of as much as 25.3%.
Succesful completion of Asiamet's geotechnical drill programme, consisting of six drill holes totalling 681 metres, was undertaken as part of the group's ongoing feasibility studies, necessary to complete pit designs and calculate an ore reserve for the project, meant the firm remained on track to complete the feasibility study for BKM by mid-year.
Peter Bird, Asiamet's chief executive, said, "The geotechnical programme is an important milestone within the context of the BKM Feasibility process to allow more accurate design parameters for the open pit and associated infrastructure. The assay results announced in this release further validate the previous assessments of the BKM Feasibility with respect to mineralogy.
"The tenor of the grade was a higher than anticipated and suggests that a number of higher grade 'pods' may be encountered in the earlier stages of mining," he added.
As of 0920 BST, shares had gained 1.28% to 11.90p.
Highlights from the newly drilled holes included the highest grades of copper mineralisation intersected from surface drilling at BKM to date, recording as much as 17 metres at 3.6% copper and eight metres at 6.5% at the central area of the BK44 zone.
The northern area of the asset recorded as much as 4.2m at 12.3% and several one-metre sample intervals of as much as 25.3%.
Succesful completion of Asiamet's geotechnical drill programme, consisting of six drill holes totalling 681 metres, was undertaken as part of the group's ongoing feasibility studies, necessary to complete pit designs and calculate an ore reserve for the project, meant the firm remained on track to complete the feasibility study for BKM by mid-year.
Peter Bird, Asiamet's chief executive, said, "The geotechnical programme is an important milestone within the context of the BKM Feasibility process to allow more accurate design parameters for the open pit and associated infrastructure. The assay results announced in this release further validate the previous assessments of the BKM Feasibility with respect to mineralogy.
"The tenor of the grade was a higher than anticipated and suggests that a number of higher grade 'pods' may be encountered in the earlier stages of mining," he added.
As of 0920 BST, shares had gained 1.28% to 11.90p.
Related share prices |
---|
Asiamet Resources Limited (DI) (ARS) share price |
Stock News headlines are gathered from financial news sources around the web. Views and opinions on each item are from their respective authors and website. They are not opinions of LiveCharts.co.uk
Get a free widget for your website with our latest headlines.
You can now add our live prices and new headlines to your website.The news widget features quotes for Oil prices, spot Gold price and Indices plus a choice of news channel for healines.
Top Shares pages
- Share price quotes
- Share charts
- Share watch list
- Company Results Calendar
- Top Large UK Shares
- UK Market Sectors
- Stock market news
- Company news
- Share tips
- A-Z company search
More share features
POPULAR Share Prices
- Royal Mail share price
- Lloyds share price
- HSBC share price
- Barclays share price
- Prudential share price
- Santander share price
- NEXT share price
- Diageo share price
- BP share price
- Vodafone share price
- British Airways
- Centrica share price
- Tesco share price
- Taylor Wimpey Share Price
- National Grid
- GKP Share Price
- Marks and Spencer
- Rolls Royce
- Rio Tinto
- THG Share Price
- Aviva Share Price
- Boil Share price
- Easyjet Share Price
- Genedrive Share Price
- SSE Share Price
- IAG Share Price
- Boohoo share price
- HE1 share price
- AVCT share price
- BOOM share price