Asiamet Res Ltd - Public infrastructure upgrades improve BKM project
Public infrastructure upgrades improve BKM project transport and logistics
Asiamet ("ARS" or the "Company") is pleased to announce that a number of recent government infrastructure initiatives and planned upgrades to bridges and roads within
Post completion of the BKM feasibility study, the Company is currently reviewing a number of options and alternatives to add significant further value to the BKM copper project, (as announced on
A review of the logistics and transport section of the study yielded some potential high value alternatives, one being the use of the Bagendang Port (Sampit Port) compared with the Banjarmasin Port used in the BKM Feasibility Study. Recent infrastructure initiatives and planned upgrades to government bridges and roads have now allowed the study team to review this alternative route as a preferred logistical hub.
This revised option would result in:
· a more efficient turnaround time for the transport of supplies and copper cathode in and out of site.
· a saving of approximately 140 kilometres per one way trip or 280 kilometres per round trip. The distance from the BKM site to Banjarmasin Port is approximately 495 kilometres compared with approximately 350 kilometres from site to the Sampit Port. A map comparing the two logistical routes is shown in Figure 1.
· improvement in project operating costs by several millions of dollars over the initial life of mine due to the shorter logistics distance. As the detailed costings are finalised the outcomes will be reported.
The Sampit Port as shown in Figure 2, is an established container terminal for smaller vessels and cargo and would suit the operations of the BKM project. Included in recent upgrades is a major new bridge being constructed at Samba as per Figure 3 below.
"Following completion of the BKM Feasibility Study the Asiamet team has continued to focus on further enhancing the value of the BKM Copper project through the assessment of a number of opportunities identified and reported on as part of the study. The refinement of the logistics route to Sampit Port and the associated reduction in operating costs over the life of mine is an excellent example of the value expected to be delivered from this process. Our team along with our technical service providers are systematically working through the 15 identified opportunities and expect to report further positive results as they come to hand.
The BKM Copper project remains one of the most advanced copper projects in
Figure 1 Insert Map of site to Banjarmasin Port and Bagendang Port. To view the image, click on the link below http://asiametresources.com/assets/img/ars_1_180919.png
Figure 2 Bagendang Port in Sampit. To view the image, click on the link below http://asiametresources.com/assets/img/ars_2_180919.png
Value Enhancement Program - Background details
The Value Enhancement (VE) program was reported in the Feasibility Study for the BKM project (announced
· pre-treatment of the currently discarded, less-leachable heap leach ore types such as chalcopyrite by utilising the Albion Leaching technology (
· improved mineralisation geological controls by incorporating detailed structural geology model (
· an electricity supply scope change from gas supply to local coal supply (
· further refining the methodology of ore block classification to enhance metal and commercial returns (
· reducing construction earthworks costs by sourcing locally and delivering synergies by working with the mining contractor (
Over and above these VE initiatives, review of near mine exploration for targets proximal (less than 3km) to the BKM Resource that have the potential to add significant value was also considered. These targets may add treatable copper resources to that already defined or create further opportunities for revenue enhancement through direct shipping of ore. The high priority targets to be investigated immediately include:
· BKM 'link zone target' the immediate zone between BKM and BKZ;
· Testing of IP chargeability highs approximately 800m to the north-west if BKM;
· BKM depth extensions through deeper drilling to follow up IP chargeability at depth; and
· BK-South near surface oxide targets, maybe amenable to SX-EW process and augment the current mine life at BKM.
The Company has completed and lodged all required documentation in relation to the permits required for exploration access of the abovementioned targets and mobilisation of drilling equipment is anticipated in early-mid Q4 2019.
ON BEHALF OF THE BOARD OF DIRECTORS
For further information, please contact:
Telephone: +44 (0) 7891 677 441
Email: [email protected]
Asiamet Resources Nominated Adviser
Telephone: +61 8 9480 2500
Telephone: +44 20 3207 7800
Telephone: +44 7773 322679
Email: [email protected]
Telephone: +44 20 3137 1903
Email: [email protected]
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This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterised by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such factors include, among others: the actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; possible variations in ore grade or recovery rates; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing; and fluctuations in metal prices. There may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
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