1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.
  2. Dear Guest, we realise advertising is annoying, it is however necessary to help us be a sustainable resource for all, if you want to go advert free then please use the following link to subscribe for £5 a month: Click here
    Dismiss Notice

(ARS) Asiamet Resources Share Chat

Discussion in 'General Share Chat (ARS)' started by TupacAmaru, Oct 30, 2015.

  1. Groucho

    Groucho Member

    Messages:
    9,136
    Reputation:
    374
    25 May 2022

    BKZ Resource Grows - Exploration Targets Highlight Further Potential Upside


    Asiamet Resources Limited ("Asiamet" or the "Company") is pleased to report an updated Mineral Resource Estimate (MRE) for the BKZ Polymetallic ("BKZ") deposit located on the 100% owned KSK Contract of Work (CoW) in Central Kalimantan, Indonesia.

    The modest 8,630 metre drilling program completed in late 2021 - early 2022 has resulted in significant increases in the 2022 reported Mineral Resources over those reported in 2018. The Mineral Resource Estimate (MRE) for BKZ is divided into the Upper Polymetallic Zone (UPZ) and Lower Copper Zone (LCZ).


    Highlights:

    · 50% increase in contained Zinc in the UPZ (2022 MRE : 90kt contained zinc, 2018 MRE : 60kt zinc at a 4% zinc cut-off grade)

    Upper Polymetallic Zone (UPZ) Inferred Resources comprise:

    · 1,050kt @ 8.6% Zinc, 3.5% Lead, 62g/t Silver and 0.31g/t Gold containing 90kt Zinc, 37kt Lead, 2,076koz Silver and 10.5koz Gold at a 4% Zinc cut-off grade; and

    · An additional 600kt @ 1.5% Zinc, 0.4% Lead, 15g/t Silver and 0.21g/t Gold containing 9kt Zinc, 2kt Lead, 295koz Silver and 4.1koz Gold at a 1% Zinc cut-off grade

    · 75% increase in contained Copper in the LCZ (2022 MRE : 21kt copper, 2018 MRE : 12kt copper at a 0.5% copper cut-off grade)

    Lower Copper Zone (LCZ) Inferred Resources comprise:

    · 1,600kt @ 1.3% Copper, 17g/t Silver and 0.14g/t Gold containing 21kt Copper, 895kt Silver and 7.2koz Gold at a 0.5% cut-off grade

    · Drilling outside current UPZ and LCZ Resource confirms mineralisation remains open for further resource growth. The UPZ remains open to the north and east with outcrop to the west, while the LCZ remains open at depth. Exploration Targets are as follows:

    · UPZ Exploration Target: 250,000 to 1,500,000 tonnes @ 6-9% Zn and 3-5% Pb

    · LCZ Exploration Target: 100,000 to 150,000 tonnes @ 1.0-1.5% Cu and 20-50g/t Ag

    · Potential for 100-220koz Gold and 10-20Moz Silver to be converted from Exploration Target to Resource with additional drilling and metallurgical test work.

    · Upper Gold-Silver Exploration Target 3.0-3.8Mt @ 1.0-1.5 g/t Au and 100-150 g/t Ag

    · Lower Gold-Silver Exploration Target 1.0-1.5Mt @ 0.4- 0.7 g/t Au and 20-40 g/t Ag

    The Exploration Target at BKZ refers to the areas outside of the BKZ Mineral Resources. The reported potential quantity and grade of the targets are conceptual in nature. There has been insufficient exploration and evaluation to estimate a Mineral Resource for these targets and it is uncertain if further evaluation will result in the estimation of a Mineral Resource in the target areas. The Exploration Target has been prepared and reported in accordance JORC Code (2012).


    Tony Manini, Asiamet Executive Chairman commented:

    "The value we have been able to add through this small and focused drill program at BKZ clearly demonstrates the outstanding upside potential which exists in the Beruang Kanan District. Resources for all base and precious metals contained in the UPZ and LCZ have grown significantly and there is potential for a gold-silver deposit of up to two hundred thousand ounces of gold and 10-20 million ounces of silver. With limited additional drilling and metallurgical test work, we aim to convert a significant portion of this gold-silver Exploration Target into a resource.

    Beruang Kanan has only recently been recognised as a district scale gold rich polymetallic VHMS system with many base and precious metals targets still to be explored and evaluated. As our understanding of the geology and mineralisation evolve, so does our ability to generate significant value from the drill bit.

    Exploration Targets provide upside potential and which, subject to additional drilling and metallurgical test work, may add to the mineral inventory with further drilling. All targets lie in close proximity to the proposed BKM mine site infrastructure and provide outstanding future production growth options.

    Separately, the diligence work with PT Delta Dunia (DOID) is proceeding to plan and is expected to complete in H1 2022. The appointed Independent Technical Expert is currently finalising its report for presentation to both DOID and the proposed lead bank for debt financing of the BKM copper mine development. Concurrently NewPro Engineering is advancing an update of the 2019 feasibility study to bankable status. We look forward to providing further updates on each of these workstreams shortly."

    Asiamet Res Ltd - BKZ Resource Grows #ARS @AsiametTweets https://www.voxmarkets.co.uk/rns/announcement/e8709f13-0807-46cd-830c-26ec43aa0afa
     
  2. Groucho

    Groucho Member

    Messages:
    9,136
    Reputation:
    374
  3. Groucho

    Groucho Member

    Messages:
    9,136
    Reputation:
    374
  4. Groucho

    Groucho Member

    Messages:
    9,136
    Reputation:
    374
    31 May 2022

    BKZ Resource Update Presentation and Recording

    The Company advises, Executive Chairman Tony Manini has made a recorded presentation of the recently announced 2022 Mineral Resource Update and Exploration Targets for the BKZ project along with a general corporate update.

    The video presentation can be accessed at the following page on the Company's website:


    An accompanying presentation of the BKZ Resource Update can also be accessed using the following link:
    https://asiametresources.com/wp-con...-Asiamet-BKZ-Resource-Update-Presentation.pdf


    ON BEHALF OF THE BOARD OF DIRECTORS

    Tony Manini, Executive Chairman
     
  5. Groucho

    Groucho Member

    Messages:
    9,136
    Reputation:
    374
    Introduction to new CEO Darryn McClelland - 29 mins
     
  6. Groucho

    Groucho Member

    Messages:
    9,136
    Reputation:
    374
  7. Groucho

    Groucho Member

    Messages:
    9,136
    Reputation:
    374
    29 June 2022


    DOID Diligence for BKM Copper Project Complete


    Asiamet Resources Limited ("Asiamet" or the "Company") advises that the due diligence undertaken by PT Delta Dunia Makmur Tbk. (DOID) including the first phase diligence by a bank recommended Independent Technical Expert (ITE) has been completed for the BKM copper project, located in Central Kalimantan, Indonesia.


    Key highlights of this process include:

    · DOID has completed an extensive due diligence process on the BKM copper project;

    · No project 'red-flags' indicated from the ITE following provision of independent report to the Company and DOID; and

    · DOID continues to be very supportive shareholder and is working with the Company on finalising next steps with respect to advancing the BKM project to development.


    As advised in previous news releases (28 January 2022, 2 March 2022 and 25 May 2022) the Company has been working extensively with DOID and the recommended ITE to review the 2019 Feasibility Study for the BKM copper project. This work covered all technical workstreams and the Company is pleased to report that the review indicated no red-flags or fatal flaws of a technical nature. The key findings of the ITE's review of the 2019 study are being addressed as part of the updated 2022 FS being undertaken by NewPro Engineering, including updating capital and operating costs and key economic assumptions.

    While this extensive diligence process has taken considerable time, a key benefit is the progress that has been made towards project financing. This places the Company in a strong position, confirming all work to be finalised before commencing the debt financing process.

    As previously indicated, the completion of the diligence process and the initial ITE review of the BKM copper project concludes the diligence period for DOID and the expiration of the exclusivity period. The Company and DOID are advancing discussions on a preferred path for consolidating the strategic partnership between both companies and advancing the BKM project to financing and development.


    Ronald Sutardja, President Director (DOID) commented:

    "We are pleased with the outcome of the extensive due diligence process and the report from the ITE providing a clear pathway to project financing for the BKM copper project. As the largest shareholder of Asiamet we look forward to working closely with the Company to support the development of the strategically important BKM copper project."


    Tony Manini, Asiamet Executive Chairman commented:

    "Having now completed extensive diligence on the BKM copper project with DOID, Asiamet is in a strong position heading into project financing. This extended diligence process has also allowed us to incorporate the recommendations of the proposed ITE into the feasibility update currently being undertaken by NewPro and hence fast track a key component of the financing process. We maintain a strong working relationship with DOID in respect of the key inputs into the feasibility study, project financing and development strategy for BKM. As our largest shareholder DOID is fully aligned with the Company's objectives for developing the BKM copper project in the fastest timeframe possible, and we are currently in discussions to achieve those outcomes. The Company remains well funded to complete this work."
     

Share This Page