20 March 2019
Additional BFS drilling results further strengthen BKM Resource
Asiamet Resources Limited ("ARS" or the "Company") is pleased to report that additional assay results received from the infill and geotechnical drilling as part of the Bankable Feasibility Study ("BFS") on the Beruang Kanan Main ("BKM") copper deposit located in Central Kalimantan, Indonesia. These results confirm expectations and further strengthen the robustness of the BKM Resource models.
A total of 37 Resource evaluation holes and four geotechnical holes for 5,665 metres of diamond core drilling have been completed with assays from 32 drill holes received to date. The Company anticipates receiving results from the remaining nine holes before the end of March 2019. Once all assay data has been received, Resource models will be updated and used to generate first Ore Reserves for the BKM copper project.
Highlights from the most recent drilling include:
BKM31550-06 19.00 metres at 1.16% Cu from 72.5 metres depth
· Including 5.00 metres at 1.43% Cu from 82.50 metres depth
· Including 2.00 metres at 2.61% Cu from 89.50 metres depth
BKM31550-09 27.00 metres at 0.67% Cu from 57.50 metres depth
· Including 3.00 metres at 2.15% Cu from 80.50 metres depth
BKM31630-01 14.00 metres at 0.81% Cu from 15.00 metres depth
7.00 metres at 0.97% Cu from 57.50 metres depth
20.00 metres at 1.10% Cu from 100.00 metres depth
· Including 6.00 metres at 2.04% Cu from 113.00 metres depth
BKM32490-02 3.00 metres at 0.68% Cu from 8.00 metres depth
38.50 metres at 1.01% Cu from 22.00 metres depth
· Including 9.00 metres at 2.86% Cu from 33.00 metres depth
33.00 metres at 0.63% Cu from 69.5 metres depth
· Including 8.00 metres at 1.14% Cu from 89.50 metres depth
16.00 metres at 0.63% Cu from 144.00 metres depth
· Including 4.00 metres at 1.32% Cu from 156.00 metres depth
Full assay results are provided in Table 1 and a drill hole location plan is shown in figure 1 below.
Figure 1: Map showing drilling location to view the image please click on the following link:
http://www.rns-pdf.londonstockexchange.com/rns/4125T_1-2019-3-20.pdf
Resource infill holes BKM31500-06, BKM31500-07, BKM31550-06, BKM31550-08, BKM31550-09, BKM31630-01, BKM31630-02, BKM31550-11 and BKM31600-08 drilled in the southern area of the current proposed open pit continued to intersect zones of covellite/bornite mineralisation associated with quartz and pyrite veining. Hole BKM31500-07 drilled at the southern edge of the proposed open pit intersected narrow zones of high-grade mineralisation comprising covellite and minor chalcopyrite.
Resource infill holes BKM32400-12, BKM32450-11, BKM32490-02, BKM32540-02, BKM31315-01 and BKM 32365-02 and BKM31550-11 drilled at the northern area of the current proposed open pit continued to intersect broad intervals of near-surface high-grade mineralisation. Hole BKM32400-12 (180.90m) intersected broad intervals of strong mineralisation grading 1.22% Cu to the bottom of hole. Mineralisation remains open at depth.
Peter Bird, Asiamet Chief Executive Officer, commented:
"The additional program of thirty-seven Resource evaluation and four geotechnical drilling required for the BKM BFS have been completed on schedule. The results received to date align well with expectations and further strengthen the robustness of our Resource models as we move into the final phase of mine and process design to generate an initial Ore Reserve for the BKM project. Results from the final nine holes will be reported as they become available later this month.
Upside potential in and around the BKM deposit remains very high and an external geological consultant with extensive experience in Indonesia has recently been engaged to further strengthen our understanding of the BKM geological system and develop a suite of additional high potential near mine Resource targets for testing in the next round of drilling. This work is currently under way and we look forward to providing an update on this target generation program shortly."
Qualified Person
Data disclosed in this press release have been reviewed and verified by ARS's qualified person, Stephen Hughes, P. Geo, an advisor to the Company and a Qualified Person within the meaning of NI 43-101 and for the purposes of the AIM Rules for Companies.
ON BEHALF OF THE BOARD OF DIRECTORS
Peter Bird, Deputy Chairman and CEO
For further information, please contact:
-Ends-
Peter Bird
Deputy Chairman and CEO, Asiamet Resources Limited
Telephone: +61 3 8644 1300
Email: [email protected]
Tony Manini
Executive Chairman, Asiamet Resources Limited
Telephone: +61 3 8644 1300
Email: [email protected]
FlowComms Limited
Sasha Sethi
Telephone: +44 (0) 7891 677 441
Email: [email protected]
Asiamet Resources Nominated Adviser
RFC Ambrian Limited
Andrew Thomson / Stephen Allen
Telephone: +61 8 9480 2500
Email: [email protected] / [email protected]
Berenberg
Matthew Armitt, Detlir Elezi
Telephone: +44 20 3753 3142
Email: [email protected] / [email protected]
Liberum
Clayton Bush, Kane Collings
Telephone: +44 7773 322679
Email: [email protected]
Optiva Securities Limited
Christian Dennis
Telephone: +44 20 3137 1903
Email: [email protected]
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.
This announcement contains inside information as stipulated under the Market Abuse Regulations (EU) no. 596/2014 ("MAR").
Table 1: Recent drill intercepts
Hole ID |
From (m) |
To (m) |
Length (m) |
Cu (%) |
BKM31500-06 |
21.00 |
22.00 |
1.00 |
0.23 |
BKM31500-06 |
26.00 |
27.00 |
1.00 |
0.36 |
BKM31500-06 |
36.00 |
38.00 |
2.00 |
0.27 |
BKM31500-06 |
50.00 |
51.00 |
1.00 |
0.50 |
BKM31500-07 |
67.50 |
68.50 |
1.00 |
0.94 |
BKM31500-07 |
72.50 |
80.50 |
8.00 |
0.40 |
BKM31500-07 |
83.50 |
86.50 |
3.00 |
3.14 |
BKM31500-07 |
87.50 |
88.50 |
1.00 |
0.39 |
BKM31500-07 |
91.50 |
92.50 |
1.00 |
1.70 |
BKM31500-07 |
96.50 |
100.00 |
3.50 |
0.47 |
BKM31550-06 |
36.00 |
38.00 |
2.00 |
0.43 |
BKM31550-06 |
62.50 |
63.50 |
1.00 |
0.52 |
BKM31550-06 |
72.50 |
91.50 |
19.00 |
1.16 |
includes |
82.50 |
87.50 |
5.00 |
1.43 |
includes |
89.50 |
91.50 |
2.00 |
2.61 |
BKM31550-06 |
93.50 |
94.50 |
1.00 |
0.58 |
BKM31550-06 |
96.50 |
102.50 |
6.00 |
0.44 |
BKM31550-06 |
104.50 |
106.50 |
2.00 |
0.48 |
BKM31550-08 |
25.00 |
26.00 |
1.00 |
0.6 |
BKM31550-08 |
27.00 |
29.00 |
2.00 |
0.35 |
BKM31550-09 |
11.50 |
13.50 |
2.00 |
0.35 |
BKM31550-09 |
39.00 |
42.50 |
3.50 |
0.46 |
BKM31550-09 |
48.50 |
49.50 |
1.00 |
0.82 |
BKM31550-09 |
57.50 |
84.50 |
27.00 |
0.67 |
includes |
80.50 |
83.50 |
3.00 |
2.15 |
BKM31550-10 |
50.00 |
51.00 |
1.00 |
0.31 |
BKM31550-10 |
53.00 |
55.00 |
2.00 |
0.69 |
BKM31550-10 |
56.00 |
57.00 |
1.00 |
0.62 |
BKM31550-10 |
61.00 |
62.00 |
1.00 |
0.24 |
BKM31550-10 |
64.00 |
73.00 |
9.00 |
0.39 |
BKM31550-10 |
74.00 |
75.00 |
1.00 |
0.33 |
BKM31550-10 |
77.40 |
80.90 |
3.50 |
0.23 |
BKM31550-10 |
85.00 |
94.00 |
9.00 |
0.45 |
BKM31550-10 |
96.00 |
100.00 |
4.00 |
0.60 |
BKM31550-10 |
101.00 |
109.00 |
8.00 |
0.71 |
includes |
101.00 |
102.00 |
1.00 |
1.88 |
BKM31550-10 |
111.00 |
119.00 |
8.00 |
1.04 |
includes |
114.00 |
115.00 |
1.00 |
4.19 |
BKM31630-01 |
15.00 |
29.00 |
14.00 |
0.81 |
BKM31630-01 |
35.25 |
36.50 |
1.25 |
0.24 |
BKM31630-01 |
57.50 |
64.50 |
7.00 |
0.97 |
BKM31630-01 |
70.50 |
71.50 |
1.00 |
0.25 |
BKM31630-01 |
72.50 |
76.50 |
4.00 |
0.64 |
BKM31630-01 |
82.50 |
83.50 |
1.00 |
0.47 |
BKM31630-01 |
100.00 |
120.00 |
20.00 |
1.10 |
includes |
113.00 |
119.00 |
6.00 |
2.04 |
BKM31630-01 |
123.00 |
124.00 |
1.00 |
0.20 |
BKM31630-01 |
134.00 |
135.00 |
1.00 |
0.44 |
BKM31630-02 |
23.50 |
25.50 |
2.00 |
0.37 |
BKM31630-02 |
26.50 |
27.50 |
1.00 |
1.93 |
BKM31630-02 |
29.50 |
32.50 |
3.00 |
0.72 |
BKM31630-02 |
33.50 |
36.50 |
3.00 |
0.25 |
BKM31630-02 |
38.50 |
41.75 |
3.25 |
2.40 |
BKM31630-02 |
45.00 |
46.00 |
1.00 |
0.26 |
BKM31630-02 |
57.00 |
58.00 |
1.00 |
0.30 |
BKM31630-02 |
69.00 |
72.00 |
3.00 |
0.84 |
BKM31630-02 |
78.00 |
99.00 |
21.00 |
0.59 |
includes |
94.00 |
97.00 |
3.00 |
1.87 |
BKM31630-02 |
133.00 |
134.00 |
1.00 |
0.33 |
BKM32315-01 |
2.50 |
3.50 |
1.00 |
0.36 |
BKM32315-01 |
4.50 |
6.50 |
2.00 |
0.22 |
BKM32315-01 |
14.50 |
17.50 |
3.00 |
0.23 |
BKM32315-01 |
18.50 |
20.50 |
2.00 |
0.23 |
BKM32315-01 |
21.50 |
22.50 |
1.00 |
0.38 |
BKM32315-01 |
25.50 |
27.50 |
2.00 |
0.25 |
BKM32315-01 |
30.50 |
31.50 |
1.00 |
0.28 |
BKM32315-01 |
42.50 |
44.50 |
2.00 |
0.29 |
BKM32315-01 |
53.75 |
55.00 |
1.25 |
0.22 |
BKM32315-01 |
56.00 |
57.00 |
1.00 |
0.47 |
BKM32315-01 |
103.00 |
104.00 |
1.00 |
0.61 |
BKM32315-01 |
105.00 |
107.00 |
2.00 |
0.32 |
BKM32315-01 |
113.00 |
119.00 |
6.00 |
1.17 |
includes |
113.00 |
115.00 |
2.00 |
1.53 |
BKM32315-01 |
120.00 |
122.00 |
2.00 |
0.66 |
BKM32315-01 |
123.00 |
124.00 |
1.00 |
0.20 |
BKM32315-01 |
126.25 |
127.50 |
1.25 |
0.21 |
BKM32315-01 |
134.00 |
141.00 |
7.00 |
0.95 |
BKM32315-01 |
144.50 |
145.50 |
1.00 |
0.24 |
BKM32315-01 |
150.50 |
170.00 |
19.50 |
1.10 |
includes |
167.30 |
168.50 |
1.20 |
8.89 |
BKM32350-08 |
2.50 |
47.50 |
45.00 |
1.29 |
includes |
6.50 |
20.50 |
14.00 |
1.92 |
includes |
37.50 |
39.50 |
2.00 |
2.48 |
includes |
42.50 |
44.50 |
2.00 |
5.54 |
BKM32350-08 |
50.50 |
62.50 |
12.00 |
0.43 |
BKM32350-08 |
65.50 |
97.50 |
32.00 |
0.54 |
includes |
87.50 |
89.50 |
2.00 |
1.25 |
BKM32350-08 |
105.50 |
114.50 |
9.00 |
0.37 |
BKM32350-08 |
117.50 |
132.50 |
15.00 |
0.53 |
includes |
120.50 |
123.50 |
3.00 |
1.36 |
BKM32350-08 |
136.50 |
138.50 |
2.00 |
0.30 |
BKM32350-08 |
144.50 |
146.50 |
2.00 |
0.27 |
BKM32350-08 |
153.50 |
190.50 |
37.00 |
1.09 |
includes |
159.50 |
162.50 |
3.00 |
2.05 |
includes |
174.50 |
183.50 |
9.00 |
2.11 |
BKM23350-08 |
196.50 |
197.50 |
1.00 |
0.34 |
BKM23350-08 |
198.50 |
199.50 |
1.00 |
0.28 |
BKM23350-08 |
201.50 |
204.50 |
3.00 |
0.55 |
BKM32365-01 |
33.00 |
42.00 |
9.00 |
1.43 |
includes |
35.00 |
39.00 |
4.00 |
2.42 |
BKM32365-01 |
51.00 |
54.00 |
3.00 |
0.41 |
BKM32365-01 |
56.00 |
57.00 |
1.00 |
0.32 |
BKM32365-01 |
59.00 |
60.00 |
1.00 |
0.44 |
BKM32365-01 |
62.00 |
65.00 |
3.00 |
0.31 |
BKM32365-01 |
66.00 |
67.00 |
1.00 |
0.22 |
BKM32365-01 |
69.00 |
71.00 |
2.00 |
0.23 |
BKM32365-01 |
74.00 |
75.00 |
1.00 |
0.88 |
BKM32365-01 |
81.00 |
83.00 |
2.00 |
0.34 |
BKM32365-01 |
86.00 |
95.00 |
9.00 |
0.42 |
BKM32365-01 |
98.00 |
99.00 |
1.00 |
0.23 |
BKM32365-01 |
102.00 |
105.00 |
3.00 |
1.49 |
BKM32365-01 |
110.00 |
113.00 |
3.00 |
0.46 |
BKM32365-01 |
114.00 |
115.25 |
1.25 |
0.24 |
BKM32365-01 |
122.80 |
124.00 |
1.20 |
0.21 |
BKM32365-01 |
126.00 |
129.00 |
3.00 |
0.65 |
BKM32365-01 |
139.00 |
140.00 |
1.00 |
0.28 |
BKM32365-01 |
147.00 |
148.00 |
1.00 |
1.39 |
BKM32365-01 |
151.00 |
152.00 |
1.00 |
0.35 |
BKM32365-01 |
155.00 |
161.00 |
6.00 |
0.25 |
BKM32365-01 |
162.00 |
164.00 |
2.00 |
0.44 |
BKM32365-01 |
166.00 |
167.25 |
1.25 |
0.21 |
BKM32400-12 |
3.00 |
10.00 |
7.00 |
0.31 |
BKM32400-12 |
59.00 |
60.00 |
1.00 |
0.34 |
BKM32400-12 |
62.00 |
63.00 |
1.00 |
0.25 |
BKM32400-12 |
64.00 |
74.00 |
10.00 |
1.22 |
includes |
69.00 |
72.00 |
3.00 |
2.62 |
BKM32400-12 |
78.00 |
79.00 |
1.00 |
0.25 |
BKM32400-12 |
84.00 |
85.00 |
1.00 |
0.34 |
BKM32400-12 |
88.00 |
89.00 |
1.00 |
0.40 |
BKM32400-12 |
91.00 |
92.00 |
1.00 |
0.28 |
BKM32400-12 |
95.00 |
97.00 |
2.00 |
0.31 |
BKM32400-12 |
99.00 |
100.00 |
1.00 |
0.98 |
BKM32400-12 |
122.00 |
126.00 |
4.00 |
0.24 |
BKM32400-12 |
128.00 |
139.00 |
11.00 |
0.36 |
BKM32400-12 |
141.00 |
144.00 |
3.00 |
0.49 |
BKM32400-12 |
147.00 |
160.00 |
13.00 |
0.39 |
BKM32400-12 |
164.00 |
180.90 |
16.90 |
0.50 |
includes |
178.50 |
180.90 |
2.40 |
1.22 |
BKM32450-11 |
11.50 |
12.50 |
1.00 |
0.27 |
BKM32450-11 |
21.50 |
22.50 |
1.00 |
0.31 |
BKM32450-11 |
25.50 |
27.50 |
2.00 |
0.7 |
BKM32450-11 |
29.50 |
30.50 |
1.00 |
0.56 |
BKM32450-11 |
33.50 |
34.50 |
1.00 |
0.48 |
BKM32450-11 |
35.50 |
37.50 |
2.00 |
0.48 |
BKM32450-11 |
39.50 |
41.50 |
2.00 |
0.29 |
BKM32450-11 |
44.50 |
65.50 |
21.00 |
0.78 |
includes |
57.75 |
63.50 |
5.75 |
1.61 |
BKM32450-11 |
71.00 |
72.00 |
1.00 |
0.32 |
BKM32450-11 |
78.00 |
79.00 |
1.00 |
0.46 |
BKM32450-11 |
85.00 |
88.00 |
3.00 |
0.77 |
BKM32450-11 |
97.00 |
108.00 |
11.00 |
0.5 |
BKM32450-11 |
112.00 |
114.00 |
2.00 |
0.35 |
BKM32450-11 |
127.00 |
130.00 |
3.00 |
0.29 |
BKM32450-11 |
136.00 |
180.00 |
44.00 |
0.69 |
includes |
162.00 |
165.00 |
3.00 |
1.36 |
BKM32490-02 |
8.00 |
11.00 |
3.00 |
0.68 |
BKM32490-02 |
22.00 |
60.50 |
38.50 |
1.01 |
includes |
33.00 |
42.00 |
9.00 |
2.86 |
BKM32490-02 |
69.50 |
102.50 |
33.00 |
0.63 |
includes |
89.50 |
97.50 |
8.00 |
1.14 |
BKM32490-02 |
105.50 |
111.00 |
5.50 |
0.75 |
includes |
109.00 |
111.00 |
2.00 |
1.19 |
BKM32490-02 |
128.00 |
138.00 |
10.00 |
0.64 |
includes |
135.00 |
138.00 |
3.00 |
1.45 |
BKM32490-02 |
144.00 |
160.00 |
16.00 |
0.63 |
includes |
156.00 |
160.00 |
4.00 |
1.32 |
BKM32540-02 |
3.00 |
18.00 |
15.00 |
0.75 |
includes |
4.00 |
8.00 |
4.00 |
1.16 |
BKM32540-02 |
22.80 |
24.00 |
1.20 |
0.33 |
BKM32540-02 |
29.00 |
30.00 |
1.00 |
0.32 |
BKM32540-02 |
35.50 |
37.05 |
1.55 |
0.62 |
BKM32540-02 |
41.40 |
43.00 |
1.60 |
0.74 |
BKM32540-02 |
46.35 |
60.00 |
13.65 |
1.20 |
includes |
52.50 |
58.75 |
6.25 |
2.21 |
BKM32540-02 |
73.50 |
74.80 |
1.30 |
0.47 |
BKM32540-02 |
76.70 |
81.00 |
4.30 |
0.27 |
BKM32540-02 |
88.00 |
89.00 |
1.00 |
0.28 |
BKM32540-02 |
96.50 |
102.50 |
6.00 |
0.36 |
BKM32540-02 |
104.80 |
107.15 |
2.35 |
0.27 |
BKM32540-02 |
108.50 |
110.50 |
2.00 |
0.26 |
BKM32540-02 |
113.50 |
114.50 |
1.00 |
0.21 |
BKM32540-02 |
117.15 |
122.75 |
5.60 |
0.30 |
BKM32540-02 |
127.60 |
131.50 |
3.90 |
0.54 |
BKM32540-02 |
132.50 |
151.00 |
18.50 |
0.56 |
BKM32540-02 |
154.00 |
162.25 |
8.25 |
0.34 |
BKM32540-02 |
178.50 |
179.50 |
1.00 |
0.29 |
BKM32540-02 |
180.60 |
182.00 |
1.40 |
0.20 |
BKM32540-02 |
188.00 |
200.00 |
12.00 |
0.51 |
BKM32365-02 |
20.00 |
24.00 |
4.00 |
0.25 |
BKM32365-02 |
29.00 |
39.00 |
10.00 |
0.84 |
includes |
31.00 |
34.00 |
3.00 |
1.68 |
BKM32365-02 |
43.00 |
44.00 |
1.00 |
0.21 |
BKM32365-02 |
48.00 |
50.00 |
2.00 |
0.45 |
BKM32365-02 |
53.00 |
55.00 |
2.00 |
0.32 |
BKM32365-02 |
57.00 |
58.00 |
1.00 |
0.29 |
BKM32365-02 |
66.50 |
67.50 |
1.00 |
1.07 |
BKM32365-02 |
74.50 |
76.50 |
2.00 |
0.28 |
BKM32365-02 |
80.50 |
81.50 |
1.00 |
0.20 |
BKM32365-02 |
90.50 |
94.50 |
4.00 |
0.44 |
BKM32365-02 |
116.00 |
120.70 |
4.70 |
0.59 |
BKM32365-02 |
130.50 |
131.50 |
1.00 |
0.64 |
BKM32365-02 |
134.50 |
140.50 |
6.00 |
0.59 |
BKM32365-02 |
142.50 |
147.50 |
5.00 |
0.47 |
BKM32365-02 |
185.00 |
220.00 |
35.00 |
0.46 |
includes |
192.00 |
194.00 |
2.00 |
1.45 |
BKM31550-11 |
84.00 |
99.00 |
15.00 |
0.60 |
includes |
87.00 |
89.00 |
2.00 |
1.42 |
BKM31550-11 |
107.00 |
115.00 |
8.00 |
0.92 |
includes |
107.00 |
108.00 |
1.00 |
2.84 |
BKM31600-08 |
41.00 |
44.00 |
3.00 |
1.04 |
BKM31600-08 |
62.00 |
69.00 |
7.00 |
0.61 |
includes |
65.00 |
66.00 |
1.00 |
1.29 |
BKM31600-08 |
78.00 |
89.00 |
11.00 |
0.38 |
BKM31600-08 |
93.00 |
112.00 |
19.00 |
0.39 |
Notes: Grade intercepts are calculated as a weighted average grade ≥0.2% copper (uncut).
True widths are interpreted to be between 80-100% of the reported lengths, unless otherwise stated.
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 sulphide 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. |
"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, can be estimated with a level of confidence sufficient to allow the appropriate application of technical and economic parameters, to support mine planning and evaluation of the economic viability of the deposit. The estimate is based on detailed and reliable exploration and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes that are spaced closely enough for geological and grade continuity to be reasonably assumed. |
"Inferred Resource" |
An "Inferred Mineral Resource" is that part of a Mineral Resource for which quantity and grade or quality can be estimated on the basis of geological evidence and limited sampling and reasonably assumed, but not verified, geological and grade continuity. The estimate is based on limited information and sampling gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes. |
"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. |
"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 so well established that they can be estimated with confidence sufficient to allow the appropriate application of technical and economic parameters, to support production planning and evaluation of the economic viability of the deposit. The estimate is based on detailed and reliable exploration, sampling and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes that are spaced closely enough to confirm both geological and grade continuity. |
"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, zin 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. |
"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. |
