The Beutong copper gold project (“Beutong”) is a large is a large porphyry copper-gold system located in Nagan Raya Regency, Aceh on the island of Sumartra, Indonesia. Beutong comprises the Beutong East Porphyry (“BEP”), Beutong West Porphyry (“BWP”) and the Beutong Skarn (“BSK”). Beutong has JORC compliant Resources containing 2.4Mt (5.3Blb) copper, 2.1Moz gold and 20.6Moz silver on a 100% basis and 1.95Mt (4.30Blb) copper, 1.69Moz gold and 16.73Moz silver on an 80% attributable basis.
In January 2018, Asiamet and its Indonesian partner PT Emas Mineral Murni (EMM) were granted the key production licence, Izin Usaha Pertambangan Operasi Produksi IUP-OP required to advance the project to the development stage. The IUP-OP provides for an initial 20 years of licence tenure which may be extended twice, each for a period of 10 years, totalling 40 years. The Beutong license is held by PT Emas Mineral Murni (“EMM”), in which Asiamet hold an 80% interest through its Singaporean registered subsidiary Beutong Resources Pte. Limited.
The Beutong project covers 10,000 hectares and is located in Nagan Raya Regency, Aceh, Indonesia in close proximity to existing infrastructure and only 60 kilometres from a large power station and seaport.
- Beutong is a large high-quality copper, gold, silver, molybdenum deposit outcropping at surface and remaining open laterally and at depth.
- Beutong 2019 Mineral Resources (JORC 2012) at a 0.3% Cu cut-off grade (on a 100% basis) comprise:
- 34Mt @ 0.67% Cu, 0.13g/t Au, 1.68g/t Ag and 90ppm Mo in the Measured category
- 56Mt @ 0.58% Cu, 0.12g/t Au, 2.07/t Ag and 104ppm Mo in the Indicated category
- 419Mt @ 0.45% Cu, 0.13g/t Au, 1.14/t Ag and 125ppm Mo in the Inferred category
- Total Resources 509Mt @ 0.48% Cu, 0.13g/t, 1.28g/t Ag and 120ppm Mo
- Contained metal in Resource on a 100% basis comprises 2.43Mt (5.3BIb) copper, 2.11Moz gold and 20.9Moz silver (1.95Mt (4.30Blb) copper, 1.69Moz gold and 16.73Moz silver on an 80% attributable basis)
- The Beutong porphyry and skarn system(s) remains open to the east, west and at depth. The deepest drilling completed to date has intersected porphyry mineralisation to around 800 metres below surface and approximately 200-300 metres below the depth of Resource delineation drilling completed to date.
- Strong copper, gold and molybdenum grades and the presence of highly mineralised chalcopyrite-bornitemagnetite bearing breccia clasts proximal to a large magnetic body modelled at depth below current drilling highlight excellent potential for the discovery of a high grade core similar to that seen in world class porphyry systems such as Wafi Golpu, PNG (Newcrest) and Cascabel, Ecuador (Solgold).
The surface mineralisation at the Beutong East Porphyry (“BEP”), Beutong West Porphyry (“BWP”) and the Beutong Skarn (“BSK”) comprises chalcocite, covellite and digenite mineralisation with lesser chalcopyrite. At 600m-700m depth there is a notable transition to chalcopyrite-bornite mineralisation, similar to the deeper sections of other porphyry systems in Southeast Asia such as the giant high-grade Grasberg Indonesia (Freeport-McMoRan Copper & Gold), Wafi-Golpu PNG (Newcrest Mining) and Tujah Bukit Indonesia (Merdeka Resources) porphyry deposits.
At depth in the BEP, large clasts of potassic altered (biotite, potassic feldspar and magnetite) diorite porphyry with intense stockwork chalcopyrite-bornite mineralisation occur within a diatreme breccia and are interpreted to have bee transported from a high-grade potassic core at depth. The BEP and BWP systems remain open in several directions and the interpreted BEP high-grade core remains untested at depth.