- Asiamet Resources said an updated mineral resource estimate provided strong support for the construction of its 80%-owned Beutong copper-gold project in Aceh, Indonesia.

The project was estimated to have 34m tonnes of 0.67% copper, 0.13 grams per tonne of gold and 1.68 grams per tonne of silver in the measured resource category.

Tonnage lifted to 56m tonnes at the indicated category and 419m tonnes at the inferred category.

'Junior companies with large, well located development stage copper inventories such as Asiamet are rare and extremely well positioned to benefit from widely forecast stronger copper prices,' chief executive Peter Bird said.

'Beutong is a large high-quality copper-gold deposit well served with existing nearby infrastructure on a granted production licence.'

'The 2018 drilling program has improved our geological understanding of the deposit and this updated mineral resource estimate in accordance with JORC 2012 provides strong support for the integrity, size, scale and upside potential of the project.'

'Future drilling campaigns will be directed to expanding the Resource, testing the potential for a high grade core at depth, and exploring early stage development options for the project.'

At 1:48pm: [LON:ARS] Asiamet Resources Limited share price was +0.25p at 6.85p

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