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ARS Asiamet Resources Limited

0.60
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Asiamet Resources Limited LSE:ARS London Ordinary Share BM04521V1038 COM SHS USD0.01 (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.60 0.55 0.65 0.60 0.60 0.60 1,654,384 08:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Miscellaneous Metal Ores,nec 0 -6.93M -0.0027 -2.22 15.56M

Asiamet Resources Limited Commences Resource Drilling at BKZ (5943B)

11/01/2018 9:15am

UK Regulatory


TIDMARS

RNS Number : 5943B

Asiamet Resources Limited

11 January 2018

   For Immediate Release                               London AIM 
   January 11, 2018                                        Symbol: ARS 

Asiamet Commences Resource Drilling at BKZ Following

Further High Grade Mineralisation at potential BKZ "Feeder Structure"

Asiamet Resources Limited ("ARS" or the "Company") is pleased to report that ongoing exploration drilling at the BKZ Polymetallic ("BKZ") prospect located on its Kalimantan Surya Kencana ("KSK") 6(th) Generation Contract of Work ("CoW"), in Central Kalimantan, Indonesia continues to intersect shallow, high grade base and precious metal rich mineralisation. Highlights to date include:

-- BKZ deposit comprises high grade polymetallic Zn-Pb-Cu-Ag-Au mineralisation underlain by copper-silver mineralisation that is either massive sulphide or vein style. Mineralisation is confirmed over a strike length of 300m and up to 110m in width. Thickness is variably 5m to 40m.

-- Five holes have now intersected the high grade copper-silver mineralisation that underlies the high grade polymetallic Zn-Pb-Cu-Ag-Au mineralisation, confirming at least 150m strike length and 50m in true thickness. Mineralisation remains open to the south, east, west and down-dip.

-- New assays confirm further high grade copper-silver mineralisation within the interpreted "Feeder Structure" underlying the polymetallic mineralisation at BKZ, with up to 7.9% copper over 1-metre sample intervals.

-- Drilling at BKZ has been upgraded to "Delineation Drilling Status comprising an estimated 3500m in 30 holes to provide sufficient drill data density in order to define a maiden Resource for the polymetallic mineralisation and the underlying copper-silver mineralisation at BKZ.

Highlights of the latest batch of drill results received include:

   BKZ33550-01     5.0m at 4.4% zinc, 1.6% lead, 46g/t silver and 0.11g/t gold (from 44.0m) 

38.0m at 1.26% copper, 9g/t silver, 0.13g/t gold (from 49.0m)

Including 3m at 1.59% copper, 14g/t silver, 0.22g/t gold (from 50.0m)

Including 21m at 1.78% copper, 11g/t silver, 0.14g/t gold (from 65.0m)

Includes 7m at 2.81% copper, 15g/t silver, 0.19g/t gold (from 65.0m)

Includes 4m at 2.71% copper, 12g/t silver, 0.14g/t gold (from 74.0m)

   BKZ33500-01     12.0m at 4.0% zinc, 1.7% lead, 9g/t silver and 0.10g/t gold (from 54.5m) 

To date, twenty holes (2133m metres in total) have been drilled to test the upper zone of polymetallic massive sulphide and vein style mineralisation and the lower zone of vein hosted copper - silver mineralisation.

Drilling Details

The first scout hole on section line BKZ33550 was drilled westward to confirm continuity of mineralisation between section lines BKM33600 and BKM33550, where hole BKZ33600-02 (89.6m End of Hole "EOH") intersected a broad zone of copper-silver mineralisation from 59m depth hosted in quartz-sulphide veins (refer ARS Press Release November 13, 2017). Hole BKZ33550-01 (116.7m EOH) was collared 50m south-southeast of BKM33600-02 and intersected vein-style polymetallic mineralisation underlain by high grade copper mineralisation contained within a dense stockwork of quartz-sulphide and sulphide veins containing bornite, chalcopyrite and pyrite (Figure 3). The hole was terminated due to rock hardness and rig capacity, with the final 18.7m comprising strongly silicified and oxidised rock. Assays confirm the oxidised zone contains gold-silver mineralisation and the final 1.7m sample assayed 0.32g/t gold and 31g/t Ag.

The first scout hole on section line BKZ33500 was drilled westward to confirm continuity of mineralisation intersected on section line BKM33550. Hole BKZ33500-01 (118.5m EOH) was collared 50m south-southeast of hole BKM33550-01 and intersected vein-style polymetallic mineralisation underlain by multiple zones of moderate grade copper mineralisation contained within a dense stockwork of quartz-sulphide and sulphide veins containing chalcopyrite and pyrite.

The first scout hole on section line BKZ33450 was drilled westward to confirm continuity of mineralisation intersected on section line BKM33500. Hole BKZ33450-01 (151.5m EOH) was collared 50m south of hole BKM33500-01, but failed to intersect the significant zones of moderate to high grade copper mineralisation that were intersected in drill holes BKZ33500-01 and BKZ33550-01. Hole BKZ33450-01 intersected several microdiorite and diorite porphyry dykes, up to 25m in width. This is the first drill hole that intersected post mineral microdiorite and diorite porphyry dykes, hence a structural model is required as the mineralisation could be offset by post-mineral faults. This 3D structural and geologic modelling work is ongoing, and drilling will continue to enhance our knowledge of the mineralised system at BKZ.

Summary

Drilling at BKZ continues to yield positive results and the additional drill holes have enhanced our understanding of the dimensions of the two mineralised domains, the footprint of which remains open in all directions. Drilling at BKZ has as such been upgraded to "Delineation Drilling Status", comprising an estimated 3500m in 30 holes.

Delineation drilling will be carried out at a nominal drill grid spacing of 25-metres by 50-meters, to provide sufficient drill data density in order to define a maiden Resource for the polymetallic mineralisation and the underlying copper-silver mineralisation at BKZ. The infill drill program has commenced, and the rig is currently positioned on section line BKZ33550.

A second rig will be mobilised to BKZ after the geotechnical program which is currently underway at BKM Copper Project is completed. Drilling is planned over the proposed pit areas and sites of planned infrastructure. A number of holes will also be drilled to monitor water levels around the proposed mine site and open pits as part of larger on-going hydrogeology and hydrology studies.

Further scout drilling at Beruang Kanan West ("BKW"), Beruang Kanan South ("BKS") and BKM prospects has been deferred until the BKM geotechnical/hydrogeology and BKZ Delineation programs have been completed. To date, eleven holes (1026.6m metres in total) have been drilled at BKW, to test the copper in soil anomalies and as part of the condemnation drilling program to define a potential site for the Heap Leach Pad at the western valley. At BKS, a total seven scout drill holes have been completed, for 665.1 metres. At BKM, a total eleven scout / condemnation drill holes have been completed, for 999.4 metres. Assays are expected in during Q1.

The drill hole location plan maps and a table of full assay results are provided in Figures 1 & 2 and Table 1 respectively.

Peter Bird, Asiamet's Chief Executive Officer commented:

"We are very pleased that ongoing drilling at BKZ continues to yield highly positive results. These additional drill holes have further enhanced our understanding of the dimensions and geometry of the mineralised domains to the point where we have decided to progress to the definition drilling stage and establish initial JORC compliant Resources at both the polymetallic mineralisation and the underlying copper-silver mineralisation at BKZ.

The footprint of mineralisation at BKZ remains open in all directions and ongoing drilling will continue to concurrently infill and expand the deposit. Initial scout drilling has also been completed at BKS and BKW and we look forward to reporting results from drilling on all prospects together with regular updates on the BKM copper project BFS and drilling on our large Beutong Cu-Au porphyry deposit as they become available.

Together with the corporate and project financing initiatives underway it is indeed a busy and exciting time for Asiamet as the Company advances towards its goal of becoming a copper producer at a time when the copper market is forecast to be in deficit and prices are rising."

Qualified Person

Data disclosed in this press release have been reviewed and verified by ARS's qualified person, Stephen Hughes, P. Geo, Vice President Exploration of the Company and a Qualified Person within the meaning of NI 43-101 and for the purposes of the AIM Rules.

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: peter.bird@asiametresources.com

Tony Manini

Executive Chairman, Asiamet Resources Limited

Telephone: +61 3 8644 1300

Email: tony.manini@asiametresources.com

FlowComms Limited

Sasha Sethi

Telephone: +44 (0) 7891 677 441

Email: Sasha@flowcomms.com

Asiamet Resources Nominated Adviser

RFC Ambrian Limited

Andrew Thomson / Stephen Allen

Telephone: +61 8 9480 2500

Email: Andrew.Thomson@rfcambrian.com / Stephen.Allen@rfcambrian.com

Optiva Securities Limited

Christian Dennis

Telephone: +44 20 3137 1903

Email: Christian.Dennis@optivasecurities.com

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, th e 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        From      To      Length     Zinc     Lead     Silver     Gold      Copper 
       ID                                      (%)      (%)      (g/t)      (g/t)      (%) 
-------------  -------  -------  ---------  -------  -------  ---------  --------  --------- 
 BKZ33450-01    94.00    96.00      2.00      NSA      NSA       NSA       0.10       0.33 
-------------  -------  -------  ---------  -------  -------  ---------  --------  --------- 
 BKZ33450-01    99.00    101.00     2.00      NSA      NSA       NSA       0.14       0.50 
-------------  -------  -------  ---------  -------  -------  ---------  --------  --------- 
 BKZ33500-01    54.50    66.50     12.00      4.04     1.66      8.7       0.10       NSA 
-------------  -------  -------  ---------  -------  -------  ---------  --------  --------- 
 BKZ33500-01    68.50    72.50      4.00      NSA      NSA       10.9      0.16       0.60 
-------------  -------  -------  ---------  -------  -------  ---------  --------  --------- 
 BKZ33500-01    75.50    80.50      5.00      NSA      NSA       20.3      0.19       0.24 
-------------  -------  -------  ---------  -------  -------  ---------  --------  --------- 
 BKZ33500-01    84.50    87.50      3.00      NSA      NSA       12.5      0.35       0.65 
-------------  -------  -------  ---------  -------  -------  ---------  --------  --------- 
 BKZ33500-01    105.50   117.50    12.00      NSA      NSA       3.6       0.15       0.67 
-------------  -------  -------  ---------  -------  -------  ---------  --------  --------- 
 BKZ33550-01    44.00    49.00      5.00      4.36     1.56      45.8      0.11       0.11 
-------------  -------  -------  ---------  -------  -------  ---------  --------  --------- 
 BKZ33550-01    49.00    87.00     38.00      NSA      NSA       9.1       0.13       1.26 
-------------  -------  -------  ---------  -------  -------  ---------  --------  --------- 
  Including     50.00    53.00      3.00      NSA      NSA       13.7      0.22       1.59 
-------------  -------  -------  ---------  -------  -------  ---------  --------  --------- 
  Including     65.00    86.00     21.00      NSA      NSA       10.8      0.14       1.78 
-------------  -------  -------  ---------  -------  -------  ---------  --------  --------- 
   Includes     65.00    72.00      7.00      NSA      NSA       15.0      0.19       2.81 
-------------  -------  -------  ---------  -------  -------  ---------  --------  --------- 
   Includes     74.00    78.00      4.00      NSA      NSA       12.0      0.14       2.71 
-------------  -------  -------  ---------  -------  -------  ---------  --------  --------- 
 BKZ33550-01    90.00    98.00      8.00      NSA      NSA       20.5      0.11       0.39 
-------------  -------  -------  ---------  -------  -------  ---------  --------  --------- 
 BKZ33550-01    98.00    116.70    18.70      NSA      NSA       20.5      0.26       NSA 
-------------  -------  -------  ---------  -------  -------  ---------  --------  --------- 
 

Notes: Grade intercepts are calculated as a weighted average grade >=1.0% Zinc (uncut) for Polymetallic Zone. Grade intercepts are calculated as a weighted average grade >=0.2% Copper (uncut) for the Copper-Silver Zone. True widths are interpreted to be between 80-100% of the reported lengths, unless otherwise stated. Orientation of the mineralised domain is estimated to have an azimuth of 340 degrees and a dip of -25 degrees to the northeast.

Figure 1: Location map showing strong zinc in soil geochemistry over the BK district with prospects & drill collars. To view the graphic, please open the link here http://www.asiametresources.com/i/maps/Fig-1-Location-map-showing-zinc.jpg

Figure 2: Location map showing copper in soil geochemistry over the BK district with prospects & drill collars. To view the graphic, please open the link here http://www.asiametresources.com/i/maps/Fig-2-Location-map-showing-copper.png

Figure 3: High grade copper mineralisation in BKZ33550-01. The interval 74m - 77m (3m interval) is 3.0% Cu and 13g/t Ag To view the graphic, please open the link here http://www.asiametresources.com/i/maps/Fig-3-High-grade-copper-mineralisation.png

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. 
----------------------------  ------------------------------------------ 
 "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. 
----------------------------  ------------------------------------------ 
 "g/t"                         grams per tonne; equivalent 
                                to parts per million ('ppm'). 
----------------------------  ------------------------------------------ 
 "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). 
----------------------------  ------------------------------------------ 
 "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. 
----------------------------  ------------------------------------------ 
 "Induced Polarisation         Induced polarisation (IP) 
  Geophysics"                   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. 
----------------------------  ------------------------------------------ 
 "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. 
----------------------------  ------------------------------------------ 
 "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) 
----------------------------  ------------------------------------------ 
 "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, 
                                meter-scale or in tens of 
                                meters 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. 
----------------------------  ------------------------------------------ 
 "mlbs"                        Million pounds (measure of 
                                weight) 
----------------------------  ------------------------------------------ 
 "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. 
----------------------------  ------------------------------------------ 
 "Preliminary Economic         NI 43-101 defines a PEA as 
  Assessment"                   "a study, other than a pre-feasibility 
                                study or feasibility study, 
                                which includes an economic 
                                analysis of the potential 
                                viability of mineral resources". 
----------------------------  ------------------------------------------ 
 "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 company news service from the London Stock Exchange

END

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