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Amur Minerals Corporation   -  AMC   

Record Drill Result at Kun-Manie

Released 07:00 01-Aug-2017

RNS Number : 6490M
Amur Minerals Corporation
01 August 2017
 

 

1 August 2017

 

AMUR MINERALS CORPORATION

(AIM: AMC)

 

Record Drill Result at Kun-Manie

 

76.4 Metres of 0.93% Nickel and 0.21% Copper defined at Ikenskoe/Sobolevsky

 

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 its second update of drill results at its Ikenskoe / Sobolevsky ("IKEN") deposit. 

 

Since 20 May 2017, IKEN drilling has been focused along the western 1,600 metres of the 2,800 metre long ISK Target between the IKEN and Kubuk ("KUB") deposits.  Widely spaced holes (200 metres) have confirmed the presence of mineralisation within two distinct pods with a total combined mineralised strike length of approximately 1,200 metres.  The most recently completed and easternmost hole located 1,150 metres for the KUB deposit has intersected the largest and continuous thickness of mineralisation ever drilled at Kun-Manie being 76.4 metres averaging 0.93% nickel and 0.20% copper.

 

Highlights:

 

·     Drilling now totals 13,142 metres with 6,006 metres completed at IKEN and 7,136 meters completed at KUB.  Approximately 65% of the planned 2017 drilling has been completed.

 

·     A total of 19 IKEN resource expansion drill holes have been completed since 20 May 2017 with total drill metres now totaling 5,312 metres located along the westernmost 1,600 metre long segment of the IK Target.

 

·     Based on a cutoff grade ("COG") of 0.4% nickel only and a minimum thickness of 3 metres, two large continuous blocks of mineralisation have been identified along the drilled portion of the IK Target.  The first block is approximately 500 metres in strike length with a width of up to 400 metres.  The second block has an approximate length 700 metres and has been drilled by a single row of holes.

 

·     The first block has been defined by seven holes with an average thickness of 31.8 metres per ore hole having an average length weighted grade of 0.98% nickel and 0.28% nickel.  Additional expansion potential of up to 750 metres remains in the dip direction.

 

·     The second block has been defined by four holes along a single strike oriented drill section along the ISK target.  Continuous mineralisation covering a length of 700 metres has been identified having an average thickness of 35.8 metres per ore hole with a length weighted nickel grade of 0.91% nickel and 0.22% copper.  The easternmost hole contains the greatest, continuous thickness ever drilled at Kun-Manie being 76.4 metres containing 0.93% nickel and 0.21% copper.  Expansion potential remains in both the up and down dip directions as well as to the east toward the KUB deposit located approximately 1,150 metres distant.

 

·     The average grades of the newly defined blocks of mineralisation are substantially higher than the average grades of the IKEN resource estimate where the nickel grade is estimated to be 0.69% nickel and 0.17% copper.

 

The resource expansion phase of drilling at IKEN has been highly successful.  Over the course of the drill season, step out drilling along the IK 2,800 metre long target area between IKEN and KUB has identified two large blocks of mineralisation.  Approximately 1,150 metres of this target remains to be drilled.  As the Company approaches the end of the drill season, infill drilling at IKEN is planned to allow for the reporting of resources within the two mineralised blocks.  Drilling of the remaining eastern area of the IK target is planned to be implemented from the KUK area once drill roads and sites are constructed.

 

Robin Young, CEO of Amur Minerals, commented:

 

"Resource expansion drilling at Ikenskoe / Sobolevsky has reaped substantial benefits since mid May of this year.  We have already discovered two new mineralised blocks along the 2,800 metre long target between Ikenskoe / Sobolevsky and Kubuk.  Having drilled about 1,600 metres of the target length from the Ikenskoe / Sobolevsky resource model limit, drilling indicates both blocks average in excess of 0.9% nickel and 0.2% copper at average thicknesses of more than 35 metres.  These thicknesses are suitable for underground mining.  The mineral limits remain open at both blocks with substantial expansion potential in the dip direction and eastward toward Kubuk.  With infill drilling, these two blocks could substantially impact the project economics due to the higher than historically drilled grades.

 

''The most recently defined block is located towards the middle of the 2017 drill season target and contains the thickest continuous mineralisation intercepted to date at Kun-Manie.  With grades of 0.93% nickel and 0.21% copper, the latest discovery is nearly 76 metres thick.  Located at the east end of this newly discovered block, it is only 1,150 metres from the Kubuk deposit.  We look forward to reporting additional drill updates."

 

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-Drill-Area-1-August-Iken.pdf

 

http://amurminerals.com/content/wp-content/uploads/1-August-2017-RNS-audio.mp3

 

 

 

Enquiries:

 

Company

Amur Minerals Corp.

Nomad and Broker

S.P. Angel Corporate Finance LLP

Public Relations

Yellow Jersey

Robin Young CEO

Ewan Leggat

Soltan Tagiev

Charles Goodwin

Harriet Jackson

Dominic Barretto

+7(4212)755615

+44(0)2034 700 470

+44(0)7544 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
 
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Record Drill Result at Kun-Manie - RNS