Asiamet starts drilling for limestone at Rinjen prospect

(Sharecast News) - Asiamet Resources announced the start of drilling for limestone at the Rinjen prospect on Friday, around 12 kilometres north of its BKM copper heap leach project in Central Kalimantan, Indonesia.

The AIM-traded company said securing a local limestone source for the project's process plant neutralisation circuit was expected to cut costs significantly by removing the need to import lime from other parts of Indonesia.

It said the programme, led by the Kalimantan Surya Kencana operations team, would initially comprise 600 to 700 metres of drilling at one location, with a second site under assessment for a planned follow-up phase to define additional resource.

"It is pleasing to recommence on-ground activity in support of the BKM project with the limestone resource definition programme a key step in delivering a low-cost operation," said chief executive Darryn McClelland.

"Our KSK operational team has done an excellent job establishing the improved access road, temporary support facilities, access paths and drill pads to support the drilling programme."

He added that the first drill hole had intersected "good thicknesses of limestone as predicted," confirming extensive surface assessment work carried out over the past year.

"Executing this programme and the appointment of the BKM project director represent important milestones as we advance financing of the BKM project.

"I look forward to providing further updates as the momentum to deliver BKM continues to build," McClelland said.

At 1259 BST, shares in Asiamet Resources were up 6.55% at 1.04p.

Reporting by Josh White for Sharecast.com.