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Asiamet's little nugget of news should encourage

Experts reckon there is enough ore at BK to support an operation generating 20,000 tonnes of copper a year.

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Asiamet's consultants are studying samples.

The third quarter results from mining exploration firm Asiamet (LON:ARS) were notable for one nugget of information – some early feedback from metallurgical tes twork taking place on the BK Copper Project in Indonesia.

The company’s consultant has found that more than 97% of the copper in one sample was potentially leacheable (which simply means extractable).

Around 24% could be removed using an acid, while 73% was cyanide soluble.

Initial analysis revealed the process generates acid rather consumes it, which will have a positive impact on economics of any mine.

Experts reckon there is enough ore at BK to support an operation generating 20,000 tonnes of copper a year.

The company’s Beruang Kanan Main deposit is estimated to be host to 887mln pounds of copper, or 402,000 tonnes, with some 26% now in the higher confidence indicated category.

The financials, meanwhile, reflected a business in the mine development phase. Asiamet posted a $6.6mln loss for the nine months ended September, of which $3.8mln was the result of an impairment to one of its assets.

Quick facts: Asiamet Resources

Price: 5.1 GBX

AIM:ARS
Market: AIM
Market Cap: £75.19 m
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Asiamet Resources announces maiden resource for BKZ deposit

Steve Hughes, VP of exploration for Asiamet Resources Ltd (LON:ARS), discusses with Proactive's Andrew Scott the maiden mineral resource estimate for the BKZ polymetallic deposit in Kalimantan, Indonesia. The initial Mineral Resource Estimate is subdivided into the BKZ upper polymetallic...

on 05/16/2018

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