TIDMAMC
RNS Number : 3567P
Amur Minerals Corporation
31 August 2017
31 August 2017
AMUR MINERALS CORPORATION
(AIM: AMC)
Drilling Confirms Presence of Second Largest Deposit
800 Metre Long Segment To Be Drilled
Amur Minerals Corporation ("Amur" or the "Company"), a
nickel-copper sulphide mineral exploration and resource development
company focused on the far east of Russia, is pleased to provide a
drill update for its Kun-Manie project.
Highlights:
-- A total of 82 diamond core drill holes containing 20,060
metres of drilling have been completed eight weeks ahead of
schedule since initiation of this year's Kun-Manie drill season,
which commenced in 5 May 2017.
-- February 2017 JORC Inferred resources identified within the
Kubuk ("KUB") deposit have been infill drilled and drilling is
likely to have increased this category of resource to that of
Indicated which is suitable for inclusion in reserve expansion and
definition.
-- Drilling of the three kilometre long geochemical and
geophysical anomaly linking the Ikenskoe / Sobolevsky ("IKEN") and
KUB deposits is ongoing. A total of 39 holes have been completed
along a 2,200 metre length of this target with 29 holes having
intersected economic grades of nickel and copper. At a cutoff grade
("COG") of 0.4% nickel, the length weighted grades average 0.85%
nickel and 0.23% copper. Intersected ore contain an average
mineralised drill intercept thickness of 24.4 metres.
-- Mineralisation along this target has been identified to be
present over 1,800 metres (80%) of the 2,200 metre drilled strike
length with the remaining undrilled 800 metres of target now being
drilled using the Company owned LF-90 Boart Longyear drill rig.
-- Successful drilling of the 800 metre long segment will
confirm that the deposits of IKEN and KUB are a single deposit
totaling more than four kilometres in length making it the second
largest deposit within the Kun-Manie licence area.
-- The current combined JORC resource for all JORC resource
categories at IKEN and KUB contains 258,000 tonnes of nickel within
a combined strike length of approximately 1,500 metres. The average
nickel grade of IKEN is 0.69% and KUB is 0.77% nickel, both of
which are lower in grade than indicated by the currently reported
drill results of 0.85% nickel.
As of 29 August 2017, 20,060 metres of diamond core drilling,
across 82 holes, have been completed approximately eight weeks
ahead of schedule. Available fuel inventories will allow the
Company to drill up to an additional 10,000 metres through the
remainder of the season (31 October 2017), weather permitting. This
expansion to the original drill programme represents a significant
increase of 50% from the originally planned 20,000 metre drill
programme.
The majority of the 2017 drill season has been focused on a
three kilometre long geochemical and geophysical anomaly that links
the IKEN andKUB drill identified deposits. It is highly likely that
these two deposits form a single deposit measuring up to five
kilometres in length.
Robin Young, CEO of Amur Minerals, commented:
"We are extremely pleased with the drill results our team has
obtained over the course of this drill season. We have most likely
converted Inferred resource to that of Indicated at Kubuk, which is
key to reserve definition and expansion. We are also excited to
confirm that Kubuk and Ikenskoe / Sobolevsky are likely to be a
single near continuous deposit totaling more than 4.5 kilometres in
length.
"The early start to this year's programme and our drill team's
increased drill productivity rate should allow us to substantially
increase our Kun-Manie resource inventory. We anticipate that the
merging of the two deposits will expand our nickel resource to more
than a million tonnes of nickel alone. With the drill results
indicating higher nickel grades, the newly defined mineralisation
will ultimately have a significant impact in reserve definition and
resultant production schedule. We look forward to providing further
updates on our drill results as we continue to drill the remaining
800 metre area between Kubuk and Ikenskoe / Sobolevsky."
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
For additional information, visit the Company's website,
www.amurminerals.com.
Please follow the links below to view additional information
related to the reported drill results and an audio overview.
http://amurminerals.com/content/wp-content/uploads/2017-29-August-2017.pdf
http://amurminerals.com/content/wp-content/uploads/2017-29-August-RNS-audio.mp3
Enquiries:
Company Nomad and Broker Public Relations
Amur Minerals S.P. Angel Corporate Yellow Jersey
Corp. Finance LLP
Robin Young Ewan Leggat Charles Goodwin
CEO Soltan Tagiev Harriet Jackson
Dominic Barretto
+44(0)7544
+7(4212)755615 +44(0)2034 700 470 275 882
Notes to Editors
The information contained in this announcement has been reviewed
and approved by the CEO of Amur, Mr. Robin Young. Mr. Young is a
Geological Engineer (cum laude), a Professional Geologist licensed
by the Utah Division of Occupational and Professional Licensing,
and is a Qualified Professional Geologist, as defined by the
Toronto and Vancouver Stock Exchanges. An employee of Amur for 13
years, previously Mr. Young was employed as an exploration and mine
geologist, mining engineer, construction manager of a mine startup
as well as independent consultant with Fluor Engineers, Fluor
Australia and Western Services Engineering, Inc. during which time
his responsibilities included the independent compilation of
resources and reserves in accordance with JORC standards. In
addition, he has been the lead engineer and project manager in the
compilation of numerous studies and projects requiring the
compilation of independent Bankable Studies utilised to finance
small to large scale projects located worldwide. Mr. Young is
responsible for the content of this announcement.
Glossary
DEFINITIONS OF EXPLORATION RESULTS, RESOURCES & RESERVES
EXTRACTED FROM THE JORC CODE: (December 2012) (www.jorc.org)
A 'Mineral Resource' is a concentration or occurrence of
material of intrinsic economic interest in or on the Earth's crust
in such form, quality and quantity that there are reasonable
prospects for eventual 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. Mineral Resources are
sub-divided, in order of increasing geological confidence, into
Inferred, Indicated and Measured categories.
An 'Inferred Mineral Resource' is that part of a Mineral
Resource for which tonnage, grade and mineral content can be
estimated with a low level of confidence. It is inferred from
geological evidence and assumed but not verified geological and/or
grade continuity. It is based on information gathered through
appropriate techniques from locations such as outcrops, trenches,
pits, workings and drill holes which may be limited or of uncertain
quality and reliability.
An 'Indicated Mineral Resource' is that part of a Mineral
Resource for which tonnage, densities, shape, physical
characteristics, grade and mineral content can be estimated with a
reasonable level of confidence. It is based on exploration,
sampling and testing information gathered through appropriate
techniques from locations such as outcrops, trenches, pits,
workings and drill holes. The locations are too widely or
inappropriately spaced to confirm geological and/or grade
continuity but are spaced closely enough for continuity to be
assumed.
A 'Measured Mineral Resource' is that part of a Mineral Resource
for which tonnage, densities, shape, physical characteristics,
grade and mineral content can be estimated with a high level of
confidence. It 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. The locations are spaced closely enough
to confirm geological and/or grade continuity.
An 'Ore Reserve' is the economically mineable part of a Measured
and/or Indicated Mineral Resource. It includes diluting materials
and allowances for losses which may occur when the material is
mined. Appropriate assessments and studies have been carried out,
and include consideration of and modification by realistically
assumed mining, metallurgical, economic, marketing, legal,
environmental, social and governmental factors. These assessments
demonstrate at the time of reporting that extraction could
reasonably be justified. Ore Reserves are sub-divided in order of
increasing confidence into Probable Ore Reserves and Proved Ore
Reserves.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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