REG - Asiamet Res Ltd - BKZ Resource Grows
25/05/2022 10:00
For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220525:nRSY7589Ma&default-theme=true
RNS Number : 7589M Asiamet Resources Limited 25 May 2022
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."
2021-2022 Resource Extension Drill Program
The 2021-22 drilling extended the UPZ mineralised domain approximately 50
metres to the east for approximately 75% of the strike extent defined in the
2018 MRE domains as well as thickening of the mineralisation in the eastern
portions of the domain as per figure 1 below. The LCZ mineralised domain was
extended to the east and north from the domains utilised in the 2018 Resource
Estimate (figure 1 below). For the Inferred Resource the drill spacing is
predominately less than 50 metres intervals. Drilling at LCZ intercepted
higher grade copper mineralisation which contributed to an increase in the
copper grades reported in 2022 over those reported in 2018.
Figure 1: Long section and Plan view: UPZ and LCZ domain differences between
2018 and 2022
Resource To view the image, please click on the following link
https://asiametresources.com/wp-content/uploads/2022/05/Figure-1.png
(https://asiametresources.com/wp-content/uploads/2022/05/Figure-1.png)
Exploration Target
In addition to the Inferred Resources above, modelling of mineralisation
intersected in drill holes outside the boundary of the Inferred Resource has
outlined the following Exploration Targets (in accordance with the
requirements of the JORC Code (2012):
· Base Metals Exploration Target outside the existing Inferred Resource
at BKZ is defined by 15 drill intercepts at >50 metre spacing and located
peripheral to the UPZ and LCZ Mineral Resources. The Exploration Target for
UPZ and LCZ are approximated as follows:
· Zinc-Lead (UPZ) Exploration Target: 250,000 to 1,500,000 tonnes @ 6-9%
Zn & 3-5% Pb
· Lower Copper (LCZ) Exploration Target: 100,000 to 150,000 tonnes @
1.0-1.5% Cu & 20-50g/t Ag
· Gold and Silver Exploration Target at BKZ ("Precious Metal"
mineralisation), is defined by 16(1) drill intercepts, mostly at >50 metre
spacing, and in two volumes, one located peripheral and to the east of the LCZ
and the second located below a footwall diorite sill to the LCZ. The
Exploration Target is at 100-300 metres below surface and occurs over 300
metres of prospective strike length. This zone remains open laterally and at
depth. The Exploration Target for the gold-silver zones are as follows:
· Upper Gold Silver Exploration Target 3.0-3.8Mt @ 1.0-1.5 g/t Au &
100-150 g/t Ag
· Lower Gold Silver Exploration Target 1.0-1.5Mt @ 0.4- 0.7 g/t Au &
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 location of these Exploration Targets relative to the Inferred Resources
are shown in figure 2 below.
Figure 2. BKZ Exploration Targets cross section
(Upper Polymetallic Zone, Lower Copper Zone, Upper Gold-Silver Zone, Lower
Gold-Silver Zone) To view the image, please click on the following link
https://asiametresources.com/wp-content/uploads/2022/05/Figure-2.jpg
(https://asiametresources.com/wp-content/uploads/2022/05/Figure-2.jpg)
Note all references to Exploration Targets in Text and Tables: Exploration
Targets are not Mineral Resources. There has been insufficient exploration and
evaluation to estimate a Mineral Resource for these targets and that it is
uncertain if further evaluation will result in the estimation of a Mineral
Resource.
The Company intends to test the Exploration Target zones with drilling and
associated metallurgical test work, and this work program is expected to
extend over the next 12-24 months
Qualified Persons
The statement of Mineral Resources (Table 1) has been completed by Hackman and
Associates ("Hackman") and is reported in accordance with the requirements of
the JORC Code (2012). The statement of Exploration Target in accordance with
JORC Code (2012) has been reviewed and compiled by Hackman and Patrick
Creenaune. Data disclosed in this press release has been reviewed and
verified by ARS's qualified person, Patrick Creenaune, Chief Geologist, FAIG
(Fellow Australian Institute of Geoscientists), an advisor to the Company and
a Qualified Person within the meaning of JORC (2012) and for the purposes of
the AIM Rules for Companies.
Mineral Resource Estimate (JORC 2012)
The 2022 Resource model covers 350 metres of the North-South strike extent of
the mineralisation at BKZ and up to 175 metres of width and depth extent of
the semi-massive sulphide and sulphide rich silicified volcanic hosted
mineralisation. The UPZ mineralisation is open to the north and east and
outcrops to the west, while the LCZ remains open at depth in the central area
of BKZ. Up to 400 metres of depth extension and/or repetition potential of
mineralisation has been tested. Gold-silver mineralisation intersected below a
diorite sill, however this depth extension has not been fully tested. Areas
immediately below mineralisation and volumes to the north, south and west
still considered prospective.
The BKZ, UPZ and LCZ resource model is defined and underpinned by data from 72
diamond drill holes (11,427 metres) containing 6,278 metres logged and
assayed, mainly 1 metre intervals. Sample data was composited to two metre
intervals and flagged by the domains defined in the geological and
mineralisation interpretations. Single and double passes of Inverse Distance
Squared interpolation runs were employed to estimate Cu, Zn, Pb, Ag and Au
grades within domains into a sub-blocked model (parent block size of 25mE x
25mN x 10mRL). High grade restrictions were applied. Tonnage factors were
applied to blocks by a regression formula determined between measured dry bulk
density and the total estimated Fe+Zn+Pb+Cu grade. Mineralisation was
assessed with respect to having reasonable prospects for economic extraction
and the resource estimate reporting cuts are supported by this evaluation.
The resource estimate has been classified based on data density, data
quality, confidence in the geological interpretation and confidence in the
robustness of grade interpolation.
Details of the Resource data quality and analyses and the estimation process
are tabulated in a JORC (2012) table 1 report which will be available on the
Company website (www.asiametresources.com (http://www.asiametresources.com) ).
Table 1 : BKZ Mineral Resource Estimate, May 2022 (Asiamet (Operator) - 100%
basis)
2022 BKZ Polymetallic Deposit Inferred Resource Estimate (JORC Code, 2012)
Upper Polymetallic Zone. High Grade Zinc Domain. Inferred Resources (JORC
2012) *
Lower Reporting Cut (Zn%) Tonnes (kt) Grade Contained Metal
Zn (%) Pb (%) Ag (ppm) Au (ppm) Zn (kt) Pb (kt) Ag (koz) Au (koz)
4.0 1,050 8.6 3.5 62 0.31 90 37 2,076 10.5
6.0 890 9.2 3.8 67 0.34 82 34 1,909 9.7
Upper Polymetallic Zone. Low Grade Zinc Domain. Inferred Resources (JORC 2012)
**
Lower Reporting Cut (Zn%) Tonnes (kt) Grade Contained Metal
Zn (%) Pb (%) Ag (ppm) Au (ppm) Zn (kt) Pb (kt) Ag (koz) Au (koz)
1.0 600 1.5 0.4 15 0.21 9 2 295 4.1
2.0 50 2.1 0.5 14 0.29 1 0 23 0.5
* Lowest estimated Zn grade in the UPZ high grade zinc domain is
2.8% Zn. 30kT of the UPZ high grade zinc domain is estimated to host < 4%
Zn grade.
** Highest estimated Zn grade in the UPZ low grade zinc domain is 2.6%
Zn
Upper Polymetallic Zone. Total Inferred Resource Estimate
Combined UPZ High Grade + UPZ Low Grade Domains
Lower Reporting Cut (Zn%) Tonnes (kt) Grade Contained Metal
Zn (%) Pb (%) Ag (ppm) Au (ppm) Zn (kt) Pb (kt) Ag (koz) Au (koz)
1.0 1,680 6.0 2.4 45 0.27 101 40 2,415 14.6
2.0 1,140 8.1 3.3 59 0.31 92 38 2,155 11.4
4.0 1,050 8.6 3.5 62 0.31 90 37 2,076 10.5
6.0 890 9.2 3.8 67 0.34 82 34 1,909 9.7
2022 BKZ Polymetallic Deposit Inferred Resource Estimate (JORC Code, 2012)
Lower Copper Zone. Copper and Silver Mineralisation
Lower Reporting Cut (Cu%) Tonnes (KT) Grade Contained Metal
Cu (%) Ag (ppm) Au (ppm) Cu (KT) Ag (Koz) Au (Koz)
0.5 1,600 1.3 17 0.14 21 895 7.2
1.0 1,060 1.6 20 0.15 17 688 5.1
Notes: Lower Zn and Cu grade reporting cuts approximate the mineralised
domains extents. Mineral Resources for the BKZ Polymetallic Project have
been estimated and reported under the guidelines detailed in the Australasian
Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves
(JORC Code 2012). In the opinion of Duncan Hackman, the block model, resource
estimate and resource classification reported herein are a reasonable
representation of the mineral resources found in the defined area of the BKZ
Polymetallic Project. Mineral Resources are not Ore Reserves and do not have
demonstrated economic viability. There is no certainty that all or any part of
the Mineral Resource will be converted into Ore Reserves. Computational
discrepancies in the table are the result of rounding.
Continuity confidence associated with Lead-Zinc intercepts in wide spaced
drilling to the east of the UPZ resources and Copper intercepts to the north
of the LCZ are reported as Exploration Results and not included with the
Resources reported here.
Gold mineralisation located to the east and at depth within the BKZ area is
reported as Exploration Results and not included with the Resources reported
here.
Exploration Target
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 base metal Exploration Targets at BKZ are based on 15 drill intercepts at
>50m spacing and located peripheral to the UPZ and LCZ Mineral Resources.
The Gold-Silver Exploration Targets at BKZ ("Precious Metal" mineralisation),
is based on 16 drill intercepts, mostly at >50m spacing, and in two
volumes, one located peripheral and to the east of the LCZ and the second
located below a footwall diorite sill.
The potential size and grade tenor for this mineralisation is presented as
approximates in both the tables below and explanatory text.
Table 2. BKZ Zinc-Lead Exploration Target Range
BKZ - Zinc-Lead Exploration Target Range
Area Tonnes Grade Grade
(kt) Zn (%) Pb (%)
Zinc-Lead ET 250-1,500 6-9 3-5
Table 3. BKZ Copper Exploration Target Range
BKZ - Copper Exploration Target Range
Area Tonnes Grade Grade
(kt) Cu (%) Ag (ppm)
Copper-ET 100-150 1-1.5 20-50
Table 4. BKZ Gold-Silver Exploration Target Range
BKZ - Gold-Silver Exploration Target Range
Area Tonnes Grade Grade
(kt) Au (ppm) Ag (ppm)
UGSZ 3,000-3,800 1.0-1.5 100-150
LGSZ 1,000-1,500 0.4-0.7 20-40
Notes : The potential quantity and grade of the Exploration Target is
conceptual in nature, there has been insufficient exploration to estimate a
Mineral Resource and it is uncertain if further exploration will result in the
estimation of a Mineral Resource. The Exploration Target, being conceptual in
nature, takes no account of geological complexity, possible mining method or
metallurgical recovery factors.
Zinc-Lead ET = Zinc-Lead Exploration Target Zone, Copper ET = Copper
Exploration Target Zone, UGSZ = Upper Gold-Silver Zone, LGSZ = Lower
Gold-Silver Zone
Zinc - Lead Target
The zinc-lead rich intercepts outlining the Exploration Target at BKZ shows
mineralisation styles similar to those within the sheared sulphide rich
sediments hosting the UPZ mineralisation. These intercepts are located where
predicted by planar extrapolation of the UPZ mineralisation down dip to the
east, a strong indication that they represent the continuation of
mineralisation defined as the UPZ Mineral Resource Domain. The broad spaced
drilling and predominantly thin intercepts limits this mineralisation from
being reported as Resources until such time that confidence in the grade and
tonnage continuity and the criterion of eventual economic extraction is proven
to levels that satisfy the guidelines set out in the JORC Code (2012).
The Exploration Target for Zinc-Lead mineralisation in the area defined by the
entire 350 metre strike length of the UPZ and a 200 metre down dip eastern
extension of the UPZ can be expressed in the range of approximately 250kt and
1,500kt of semi-massive to massive sulphide mineralisation with approximate
grades ranging between 6% and 9% Zinc and 3% and 5% Lead. These values were
generated from Triangulated Irregular Network ("TIN") modelling of the
intercepts, Inverse Distance Squared ("ID2") grade interpolation, and tonnage
factors generated by a dry-bulk-density vs sulphide-mineral-content regression
formula utilised in determining the tonnage factors at the adjoining UPZ
domain.
Copper Exploration Target
The copper rich intercepts outlining the Exploration Target at BKZ show
mineralisation styles similar to the brecciated silica sulphide volcanics
hosting the LCZ mineralisation. These intercepts are located to the north of
the LCZ mineralisation and interpreted as sub-horizontal bodies paralleling
the attitude of the overlying UPZ lead-zinc mineralisation. This
interpretation is highly conceptual and it is equally probably that the 50
metre spaced drill intercepts have intersected en echelon steeply north
dipping mineralisation reflected by the north plunging attitude of the LCZ
observed between 9933600N and 9933650N. The broad spaced drilling and
predominantly thin intercepts limits this mineralisation from being reported
as Resources until such time that confidence in the geological, grade and
tonnage continuity and the criterion of eventual economic extraction is proven
to levels that satisfy the guidelines set out in the JORC Code (2012 Edition).
The potential size and grade tenor for this mineralisation is presented at
Table 3. The 2021/2022 drilling program defined the lateral extent of the
Copper Exploration Target which is approximated as between 100kt and 150kt of
stringer to semi-massive sulphide mineralisation with approximate grades
ranging between 1.0% and 1.5% copper and between 20ppm and 50pmm Silver.
These values were generated from TIN modelling of the intercepts, ID2 grade
interpolation, and tonnage factors generated by a dry-bulk-density vs
sulphide-mineral-content regression formula utilised in determining the
tonnage factors at the adjoining LCZ domain.
Gold-Silver Exploration Target
The Gold-Silver rich intercepts in both the Upper and Lower Gold zones that
outline the Exploration Target Potential at BKZ show that this mineralisation
is hosted by intense and pervasive silica hematite replacement style altered
volcanics (and/or sediments). Two separate zones are identified from the
drilling:
· The Upper Gold zone is located immediately east of the LCZ
mineralisation and is interpreted with an easterly dip, parallel to the
attitude of the overlaying UPZ mineralisation. Most intercepts show that
both gold and silver mineralisation tenor is highest in the upper reaches of
the altered zone where it is contact with the UPZ and sheared sulphidic
sediments. Grades are also highest and the zone thinnest in the volume where
the footwall diorite sill geometry flexes or ramps from being in contact with
the overlaying sheared sulphidic sediments (in the east) to a position along
the footwall of the LCZ and volcanics in the central/western portion of BKZ.
The potential of the Upper Gold Zone is approximated as between 3,000KT and
3,800KT with approximate grades ranging between 1.0ppm and 1.5ppm Au and
100ppm and 150ppm Ag. As per Table 4 above.
· The Lower Gold zone is located immediately below a footwall diorite
within and to the east of the flexure zone described as being spatially
associated with high grade volumes of the Upper Gold Zone. Drilling to date
shows this zone to be thickest in the central area of the flexure. Both gold
and silver grades are typically an order of magnitude lower in this zone as
those intersected in the Upper Gold zone. The potential of the Lower Gold Zone
is approximated as between 1,000KT and 1,500KT with approximate grades ranging
between 0.4ppm and 0.7ppm Au and 20ppm and 40ppm Ag.
Drill spacing currently limits this mineralisation from being reported as
Mineral Resources until such time that confidence in the geological, grade and
tonnage continuity and the criterion of eventual economic extraction is proven
to levels that satisfy the guidelines set out in the JORC Code (2012 Edition).
The potential size and grade tenor for the gold-silver mineralisation is
presented at Table 4. The potential ranges of tonnes and grades were
generated from TIN modelling of the intercepts, ID2 grade interpolation and
tonnage factors generated by a dry-bulk-density vs Fe-content regression
formula for samples collected from the Gold-Silver zones.
Full explanatory notes for the BKZ Polymetallic 2022 Mineral Resource Estimate
together with the BKZ 2022 Base Metal and Gold-Silver Exploration Targets
including accompanying JORC (2012) table 1 report which this release refers to
will be available on the Company website (www.asiametresources.com
(http://www.asiametresources.com) ).
ON BEHALF OF THE BOARD OF DIRECTORS
Tony Manini, Executive Chairman
For further information, please contact:
-Ends-
Tony Manini
Executive Chairman, Asiamet Resources Limited
Email: tony.manini@asiametresources.com
(mailto:tony.manini@asiametresources.com)
Investor Enquiries
Sasha Sethi
Telephone: +44 (0) 7891 677 441
Email: Sasha@flowcomms.com (mailto:Sasha@flowcomms.com) /
info@asiametresources.com
Asiamet Resources Nominated Adviser
RFC Ambrian Limited
Bhavesh Patel / Stephen Allen
Telephone: +44 (0)20 3440 6800
Email: Bhavesh.Patel@rfcambrian.com (mailto:Bhavesh.Patel@rfcambrian.com) /
Stephen.Allen@rfcambrian.com (mailto:Oliver.Morse@rfcambrian.com)
Optiva Securities Limited
Christian Dennis
Telephone: +44 20 3137 1903
Email: Christian.Dennis@optivasecurities.com
(mailto:Christian.Dennis@optivasecurities.com)
Follow us on twitter @AsiametTweets
This announcement contains inside information as stipulated under the Market
Abuse Regulations (EU) no. 596/2014 ("MAR").
Glossary of Technical Terms
"anomaly or anomalous" something in mineral exploration that geologists interpret as deviating from
what is standard, normal, or expected.
"assay" The laboratory test conducted to determine the proportion of a mineral within
a rock or other material. For copper, usually reported as percentage which is
equivalent to percentage of the mineral (i.e. copper) per tonne of rock.
"azimuth" the "compass direction" refers to a geographic bearing or azimuth as measured
by a magnetic compass, in true or magnetic north.
"bornite" Bornite, also known as peacock ore, is a copper sulphide mineral with the
formula Cu5FeS4.
"breccia" Breccia is a rock classification, comprises millimetre to metre-scale rock
fragments cemented together in a matrix, there are many sub-classifications of
breccias.
"chalcocite" Chalcocite is a copper sulphide mineral with the formula Cu2S and is an
important copper ore mineral. It is opaque and dark-gray to black with a
metallic luster.
"chalcopyrite" Chalcopyrite is a copper sulphide mineral with formula CuFeS2. It has a brassy
to golden yellow colour.
"channel sample" Samples collected across a mineralised rock exposure. The channel is typically
orientated such that samples are collected perpendicular to the mineralised
structure, if possible.
"chargeability" Chargeability is a physical property related to conductivity. Chargeability is
used to characterise the formation and strength of the induced polarisation
within a rock, under the influence of an electric field, suggesting sulphide
mineralisation at depth.
"CIM" The reporting standard adopted for the reporting of the Mineral Resources is
that defined by the terms and definitions given in the terminology,
definitions and guidelines given in the Canadian Institute of Mining,
Metallurgy and Petroleum (CIM) Standards on Mineral Resources and Mineral
Reserves (December 2005) as required by NI 43-101. The CIM Code is an
internationally recognised reporting code as defined by the Combined Reserves
International Reporting Standards Committee.
"covellite" Covellite is a copper sulphide mineral with the formula CuS. This indigo blue
mineral is ubiquitous in some copper ores.
"diamond drilling" A drilling method in which penetration is achieved through abrasive cutting by
rotation of a diamond encrusted drill bit. This drilling method enables
collection of tubes of intact rock (core) and when successful gives the best
possible quality samples for description, sampling and analysis of an ore body
or mineralised structure.
"digenite" Digenite is a copper sulfide mineral with formula Cu9S5. Digenite is a black
to dark blue opaque mineral.
"dip" A line directed down the steepest axis of a planar structure including a
planar ore body or zone of mineralisation. The dip has a measurable direction
and inclination from horizontal.
"Exploration Target" Exploration Target is conceptual in nature, there has been insufficient
exploration to estimate a Mineral Resource and it is uncertain if further
exploration will result in the estimation of a Mineral Resource. Being
conceptual in nature, takes no account of geological complexity, possible
mining method or metallurgical recovery factor
"galena" Galena is the natural mineral form of lead (II) sulphide, with formula PbS. It
is the most important ore of lead and an important source of silver. It has
a silver colour.
"grab sample" are samples of rock material collected from a small area, often just a few
pieces or even a single piece of rock "grabbed" from a face, dump or outcrop
or roughly 2-5kg. These are common types of rock samples collected when
conducting mineral exploration. The sample usually consists of material that
is taken to be representative of a specific type of rock or mineralisation.
"grade" The proportion of a mineral within a rock or other material. For copper
mineralisation this is usually reported as % of copper per tonne of rock
(g/t).
"g/t" grams per tonne; equivalent to parts per million ('ppm')
"hematite" Hematite is the mineral form of iron(III) oxide (Fe2O3), one of several iron
oxides. Magnetite alteration is also typically associate with porphyry
copper systems, at or close to the central core.
"hypogene" Hypogene ore processes occur deep below the earth's surface, and form deposits
of primary minerals, such as chalcopyrite and bornite.
"Indicated Resource" An 'Indicated Mineral Resource' is that part of a Mineral Resource for which
quantity, grade (or quality), densities, shape and physical characteristics
are estimated with sufficient confidence to allow the application of Modifying
Factors in sufficient detail to support mine planning and evaluation of the
economic viability of the deposit.
Geological evidence is derived from adequately detailed and reliable
exploration, sampling and testing gathered through appropriate techniques from
locations such as outcrops, trenches, pits, workings and drill holes, and is
sufficient to assume geological and grade (or quality) continuity between
points of observation where data and samples are gathered.
An Indicated Mineral Resource has a lower level of confidence than that
applying to a Measured Mineral Resource and may only be converted to a
Probable Ore Reserve.
"Inferred Resource" An 'Inferred Mineral Resource' is that part of a Mineral Resource for which
quantity and grade (or quality) are estimated on the basis of limited
geological evidence and sampling. Geological evidence is sufficient to imply
but not verify geological and grade (or quality) continuity. It is based on
exploration, sampling and testing information gathered through appropriate
techniques from locations such as outcrops, trenches, pits, workings and drill
holes.
An Inferred Mineral Resource has a lower level of confidence than that
applying to an Indicated Mineral Resource and must not be converted to an Ore
Reserve. It is reasonably expected that the majority of Inferred Mineral
Resources could be upgraded to Indicated Mineral Resources with continued
exploration.
"Induced Polarisation Geophysics" Induced polarisation (IP) is a geophysical survey used to identify the
electrical chargeability of subsurface materials, such as sulphides. The
survey involves an electric current that is transmitted into the subsurface
through two electrodes, and voltage is monitored through two other electrodes.
"intercept" Refers to a sample or sequence of samples taken across the entire width or an
ore body or mineralised zone. The intercept is described by the entire
thickness and the average grade of mineralisation.
JORC The Australasian Code for Reporting of Exploration Results, Mineral Resources
and Ore Reserves ('the JORC Code') is a professional code of practice that
sets minimum standards for Public Reporting of minerals Exploration Results,
Mineral Resources and Ore Reserves. The JORC Code provides a mandatory
system for the classification of minerals Exploration Results, Mineral
Resources and Ore Reserves according to the levels of confidence in geological
knowledge and technical and economic considerations in Public Reports.
"lbs" Pounds (measure of weight)
"Mlbs" Million pounds (measure of weight)
"magnetite" Magnetite is main iron ore mineral, with chemical formula Fe3O4. Magnetite is
ferromagnetic, and it is attracted to a magnet and can be magnetised to become
a permanent magnet itself.
"massive" In a geological sense, refers to a zone of mineralisation that is dominated by
sulphide minerals. The sulphide-mineral-rich material can occur in
centimetre-scale, metre-scale or in tens of metres wide veins, lenses or
sheet-like bodies containing sphalerite, galena, and / or chalcopyrite etc.
"Measured Resource" A 'Measured Mineral Resource' is that part of a Mineral Resource for which
quantity, grade (or quality), densities, shape, and physical characteristics
are estimated with confidence sufficient to allow the application of Modifying
Factors to support detailed mine planning and final evaluation of the economic
viability of the deposit.
Geological evidence is derived from detailed and reliable exploration,
sampling and testing gathered through appropriate techniques from locations
such as outcrops, trenches, pits, workings and drill holes, and is sufficient
to confirm geological and grade (or quality) continuity between points of
observation where data and samples are gathered.
A Measured Mineral Resource has a higher level of confidence than that
applying to either an Indicated Mineral Resource or an Inferred Mineral
Resource. It may be converted to a Proved Ore Reserve or under certain
circumstances to a Probable Ore Reserve.
"Mineral Resource" A "Mineral Resource" is a concentration or occurrence of diamonds, natural
solid inorganic material, or natural solid fossilised organic material
including base and precious metals, coal, and industrial minerals in or on the
Earth's crust in such form and quantity and of such a grade or quality that it
has reasonable prospects for economic extraction. The location, quantity,
grade, geological characteristics and continuity of a Mineral Resource are
known, estimated or interpreted from specific geological evidence and
knowledge.
"mineralisation" In geology, mineralisation is the deposition of economically important metals
(copper, gold, lead, zinc etc) that in some cases can be in sufficient
quantity to form mineral ore bodies.
"open pit mining" A method of extracting minerals from the earth by excavating downwards from
the surface such that the ore is extracted in the open air (as opposed to
underground mining).
"outcrop" A section of a rock formation or mineral vein that appears at the surface of
the earth. Geologists take direct observations and samples from outcrops,
used in geologic analysis and creating geologic maps. In situ (in place)
measurements are critical for proper analysis of the geology and
mineralisation of the area under investigation.
"polymetallic" three or more metals that may occur in magmatic, volcanogenic, or hydrothermal
environments; common base and precious metals include copper, lead, zinc,
silver and gold.
"polymict" A geology term, often applied to breccias or conglomerates, which identifies
the composition as consisting of fragments of several different rock types.
"porphyry" Porphyry copper deposits are copper +- gold +- molybdenum orebodies that are
formed from hydrothermal fluids that originate from a voluminous magma chamber
below the deposit itself.
"ppm" Parts per million see "g/t"
"Preliminary Economic Assessment" NI 43-101 defines a PEA as "a study, other than a pre-feasibility study or
feasibility study, which includes an economic analysis of the potential
viability of mineral Resources".
"propylitic alteration" Propylitic alteration is the chemical alteration of minerals within a rock,
caused by hydrothermal fluids. This style of alteration typically results in
epidote-chlorite+-albite alteration and veining or fracture filling, commonly
altering biotite or amphibole minerals within the rock groundmass. It
typically occurs along with pyrite.
"sediments" Sedimentary rocks formed by the accumulation of sediments. There are three
types, Clastic, Chemical and Organic sedimentary rocks.
"sequential assays" Sequential copper analysis is a technique to semi-quantitatively define the
zonations associated with some copper deposits. The method is based on the
partial dissolution behaviour displayed by the prevalent copper minerals to
solutions containing sulphuric acid and sodium cyanide. Results from
sequential analyses can theoretically determine the amounts of leachable oxide
minerals, leachable secondary sulphide minerals, and primary copper minerals,
respectively.
"sphalerite" Sphalerite is a zinc sulphide in crystalline form but almost always contains
variable iron, with formula (Zn,Fe)S. It can have a yellowish to honey brown
or black colour.
"supergene" Supergene ore processes occur near surface, and form deposits of secondary
minerals, such as malachite, azurite, chalcocite, covellite, digenite, etc.
"surface rock chip samples" Rock chip samples approximately 2kg in size that are typically collected from
surface outcrops exposed along rivers and mountain ridgelines.
"veins" A vein is a sheet-like or anastomosing fracture that has been infilled with
mineral ore (chalcopyrite, covellite etc) or mineral gangue (quartz, calcite
etc) material, within a rock. Veins form when minerals carried by an aqueous
solution within the rock mass are deposited through precipitation and infill
or coat the fracture faces.
"volcanics" Volcanic rock such as andesite or basalt that is formed from magma erupted
from a volcano, or hot clastic material that erupts from a volcano and is
deposited as volcaniclastic or pyroclastics.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
or visit
www.rns.com (http://www.rns.com/)
.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
. END UPDGIGDULDDDGDURecent news on Asiamet Resources
See all newsREG - Asiamet Resources Ld - BKM High Grade Copper Rock Sample Results
AnnouncementREG - Asiamet Resources Ld - BKM Project Engineering Design & Execution Update
AnnouncementREG - Asiamet Resources Ld - Sustainable Power Solution for BKM Copper Project
AnnouncementREG - Asiamet Resources Ld - Corporate Update
AnnouncementREG - Asiamet Resources Ld - End of Year Project Status Update
Announcement