The Asia Miner

JUL-SEP 2017

The ASIA Miner - Reporting Important Issues to Mining Companies in the Asia Pacific Region

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26 | ASIA Miner | Volume 14 • Issue 3 | 2017 Indonesia MAPPING and channel sampling of outcropping massive sulphide mineralisation have shown the potential for a standalone polyme- tallic deposit at Asiamet Resources BKZ prospect in Central Kali- mantan. BKZ is 800 metres north of the company's BKM Copper Project, where bankable feasibility studies are well advanced. A continuous 15-metre rock channel sample collected in the southern part of BKZ averaged 19.5% zinc, 8.1% lead, 121 g/t silver, 0.69 g/t gold and 0.50% copper. One-metre rock channel samples collected from three separate locations over the mineralised strike extent returned 24.2% zinc, 14.4% lead, 0.83% copper, 86 g/t silver and 0.24 g/t gold; 17.7% zinc, 16.6% lead, 0.23% copper, 174 g/t silver and 1.34 g/t gold; and 7.6% zinc, 6.1% lead, 0.10% copper, 246 g/t silver and 0.36 g/t gold. Asiamet says there is excellent potential to identify additional poly- metallic mineralisation along strike associated with a well-defined coincident zinc-lead -copper in soil anomaly measuring 400 x 200 metres. Additional high-grade polymetallic mineralisation was also mapped and sampled to the south of BKM, with rock chips assaying to 35.6% zinc, 26.2% lead, 2.94% copper, 1.0 g/t gold and 3440 g/t silver. The style of mineralisation is similar to BKZ and represents a second-high priority polymetallic target that warrants drill testing. The company has also received the final batch of assays for re- source infill and expansion drilling at BKM. The results continue to impress, with near-surface high-grade copper assays returned from the BK058 Zone confirming excellent internal continuity. Results have been incorporated into the ongoing BKM feasibil- ity study to refine and potentially improve the project's already fa- vourable economics. Hackman & Associates are incorporating all 2016/17 drill results into an updated resource estimate. The diamond drilling program comprised 122 holes for 12,480.9 metres with the final five holes drilled in the southern part of the BKM deposit. Better results are: 58 metres from 6.5 metres @ 1.45% copper, including 20.5 metres from 7.5 metres @ 2.24% and 18.5 metres from 36 metres @ 1.71%; 17.5 metres from 25.5 metres @ 1.57%, including 9.5 metres from 27.3 metres @ 2.37% and 4.5 metres from 31.5 metres @ 4.15%; and 4 metres from 46.5 metres @ 3.15%. Asiamet's CEO Peter Bird said, "Asiamet is very excited by the op- portunity to begin testing some of these high potential targets in the second half of 2017." THE Wetar Copper Project on Wetar Island in eastern Indonesia continues to perform strongly for Finders Resources. During May, the SX-EW plant exceeded the company's annual production target of 28,000 tonnes of copper cathode. In May a record of 2401 tonnes of copper cathode was produced, up from 2174 tonnes produced in April. The company says the higher production levels have continued into June and the project is on track to set a new quarterly production record. In the March quarter, Finders produced 6125 tonnes with sales of 7153 tonnes at an average price of US$2.60 per pound of copper. There was an unsold finished product inventory of 2253 tonnes of copper cathode at the end of the quarter. The unaudited cash cost also improved from US$1.00 per pound in April to US$0.98 in May. Both were below the life of mine es- timate of US$1.05 per pound. The June quarter unit cost is also expected to improve on the March 2017 quarter cost of US$1.03. Finders operates 3000 tonne and 25,000 plants at the project with the latter coming on line in June 2016. Finders' managing director Barry Cahill said, "Operations at the Wetar project continue to improve and unit costs continue to come down, with potential for further reductions as the production profile increases." Exploration also continues with high-grade copper mineralisation encountered in drilling at the Lerokis deposit. The project is on the north central coast of Wetar Island and is part of Maluku Barat Daya Regency (MBD), Maluku Province. Wetar Island is remote and supports a total population of around 9000. It can be accessed by boat from a number of ports including Alor, Kisar and Atapupu, and by landing craft. The closest villages to the project, Lurang and Uhak, have a total population of around 900. The project comprises the development, open pit mining and processing of the high-grade sulphide deposits at Kali Kuning and Lerokis, which are within 3km of the coast. It benefits from having existing infrastructure in place, particularly a wharf, camp and roads as well as partially exposed copper ore bodies from a prior gold mining era. Wetar production continues to improve Zinc soil images and drillholes in the BK district of Central Kalimantan. Footprint expanded in BK district

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