TIDMAMC
RNS Number : 3971Y
Amur Minerals Corporation
17 May 2016
17 May 2016
AMUR MINERALS CORPORATION
(AIM: AMC)
2016 Drill Season Underway
Earliest Start On Record
Amur Minerals Corporation ("Amur" or the "Company"), a
nickel-copper sulphide mineral exploration and resource development
company focused on the far east of Russia, announces that it has
initiated its 2016 field programme ahead of schedule at its
Kun-Manie production licence.
A total of 15,000 metres of drilling are planned for completion
within the three and a half kilometre long Maly Kurumkon / Flangovy
("MKF") deposit. The prime objective of the drill programme is to
generate a large representative metallurgical sample from the
deposit for use in the final process design of the ore treatment
facilities. Exploration drilling will also be undertaken to convert
existing Inferred resources to that of Indicated and to further
expand the resource of the MKF deposit. Satellite communications
have now been established to the MKF deposit base camp and it has
been reported that drilling begun on 5 May 2016. This is the
earliest start to the drilling field season since exploration began
in 2004.
Highlights include:
-- The LF90 Boart Longyear rig has been fully commissioned by
Boart Longyear representatives and drilling commenced on 5 May
2016.
-- A full maintenance inspection of the LF70 rig is now complete
and it will begin drilling within the next days.
-- A total of approximately 25 to 35 drill holes are planned for
the acquisition of a large bulk metallurgical sample located along
the length of the MKF deposit. It is anticipated that approximately
7,500 to 9,000 metres of drilling will generate a bulk
metallurgical sample ranging from 5 to 6 tonnes of ore. The sample
will be used in the process plant design, determination of the
composition of the concentrate and the design of a furnace to treat
the concentrate in preparation of a Low Grade Matte ("LGM").
-- Exploration drilling will be completed and is comprised of
two elements. Infill drilling will be completed at both the eastern
and western limits of the deposit to convert existing Inferred
resources to that of Indicated. Step out drilling to both the east
and west will be conducted to expand the resource where its limits
are not yet defined. Exploration drilling is presently budgeted to
total from 6,000 to 7,500 metres.
-- To the south of the mining licence area, and within the water
rights licence area, the Company will compile information to define
the source and quantity of industrial water available to process
the ores. Surface geological mapping and extensive ground based
geophysics will be implemented to define the locations of test and
production wells scheduled for drilling in 2017.
The Company is in the final stage of mobilisation for
implementation of the 2016 Kun-Manie field season. The last of the
personnel and sundry materials are now being transferred to site
via our contract helicopter company as the ice road is closed.
Satellite communications are now established allowing the site to
report that our heavy equipment operators and drill teams began
drill road construction and drilling on 5 May 2016. As of 13 May
2016, a total of 496 metres have been drilled within two holes
using the newly purchased LF90 Boart Longyear drill rig.
Robin Young, CEO of Amur Minerals, commented:
"The 2016 field season is already underway, a full three weeks
earlier than it has ever begun before. With the full team and
support system now up and running, we will be focused on the
acquisition of the bulk sample to conduct the necessary test work
to design the flowsheet and process plant design. From this, we
will be able to determine the composition of our concentrate and
the variability we can expect over the first years of production at
Kun-Manie. With these parameters, the design of our Low Grade Matte
furnace can be completed. All of this work will provide us with a
basis and key information of inclusion in the Definitive
Feasibility Study. We intend to provide periodic updates as the
field season progresses."
Enquiries:
Company Nomad and Broker Public Relations
Amur Minerals S.P. Angel Corporate Yellow Jersey
Corp. Finance LLP
Robin Young Ewan Leggat Dominic Barretto
CEO Laura Harrison Harriet Jackson
+7(4212)755615 +44(0)2034700470 +44(0)7768537739
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 12
years, previously Mr. Young was employed as an 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 was the lead
engineer and participant 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.
For further information, see the Company website at
www.amurminerals.com.
2016 Drill Programme
Drilling will be comprised of two elements having a total of
15,000 metres planned for completion during the 2016 field
season.
Priority has been given to the acquisition of a large scale bulk
metallurgical sample from the MKF deposit. The MKF deposit will
likely be the start up production deposit as it contains the
majority of the defined mineralisation at Kun-Manie and a
substantial portion of the high grade ores defined to be contained
within discrete and continuous geological horizons. The
metallurgical drill holes will be equally spaced at 100 metre long
intervals along the strike of MKF. The holes will be drilled
immediately adjacent to existing holes that contain known intervals
of mineralisation. This is key information for use in the
Definitive Feasibility Study ("DFS").
Exploration drilling will target the conversion of existing
Inferred resources to that of Indicated resources. Two areas will
be tested which are located at the eastern and western ends of the
MKF deposit. Beyond the existing Inferred resources, step out
drilling will be implemented to further expand the MKF resource.
Deeper holes may also be completed to test down dip mineral limits
suitable for underground production.
2016 Water Resource Assessment
The evaluation of the source of the water for use in the
processing plant and other facilities will be completed over the
course of two field seasons. This season's work is comprised of
geological investigation of the surface geology, river flow rates
and use of ground based geophysical methods to define specific
subsurface areas for drilling of test and production wells.
Drilling of approximately 1,000 metres is planned for 2017.
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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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