TIDMAMC
RNS Number : 6699Y
Amur Minerals Corporation
07 March 2017
7 March 2017
AMUR MINERALS CORPORATION
(AIM: AMC)
2017 Kun-Manie Field Programme
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 announce
its plans for the 2017 field programme. The programme is comprised
of the continuation of exploration drilling and the completion of
additional site investigation work related to engineering work for
consideration in the development of Kun-Manie.
Highlights:
-- A total of 15,000 metres of resource conversion and resource
expansion drilling is planned to be completed at both Ikenskoe /
Sobolevsky ("IKEN") and Kubuk ("KUB").
-- Sufficient drill supplies for completion of 20,000 metres
have been purchased and are available for additional drilling
should weather permit.
-- At KUB a total of 10,000 metres of drilling is planned for
the conversion of a 10.9 million tonne Inferred resource block to
that of Indicated. Averaging 0.73% nickel and 0.20% copper, the
total nickel tonnes is projected to be 80,700 with the total copper
tonnage being 21,800. A minimum of seven metallurgical bulk sample
collection holes will also be completed and resource expansion
through step out drilling is planned.
-- At IKEN, 5,000 metres of resource expansion drilling and
metallurgical sample collection is planned. Located at the south
and eastern limits of the presently drill identified mineral
limits, step out drilling will be undertaken in the direction of
the Kubuk deposit located approximately three kilometres to the
east.
-- New capital equipment purchases have been made and the
equipment has been delivered to the Company's Ulak rail station for
onward transfer to the site over the winter ice road. The newly
acquired equipment will enable the Company to undertake additional
engineering work related to hydrological studies at the proposed
process plant site, tailing impoundment area and adjacent to the
Maly Kurumkon / Flangovy ("MKF") mining operation.
The 2017 field programme includes resource drilling as well as a
substantial effort focused on the acquisition of additional
information related to the development of the project allowing for
consideration in the engineering and construction evaluation of the
Kun-Manie project. To accomplish the objectives for this season,
the Company has undertaken the purchase of additional mobile
equipment to facilitate all aspects of the programme as the Company
ramps up to a production decision.
Exploration Drilling
The Company has purchased sufficient supplies and fuel for
delivery over the winter ice road to drill a total of 20,000
metres. During a typical drill season of 4 to 5 months, 15,000
metres can be completed using the two Company owned drill rigs. As
was accomplished during the 2016 field season, the Company will
continue to drill additional metres beyond the presently planned
15,000 metres if weather conditions permit.
The Company plans to conduct drilling on two deposits during the
season. The LF70 drill rig will be working within the IKEN deposit
where drill depths are shallower (generally less than 200 metres)
and a total of 5,000 metres of drilling is presently planned. The
LF90 will be working at KUB (hole depths exceeding 200 metres) and
a total of 10,000 metres are budgeted for completion.
Kubuk
The first objective of this year's drilling at KUB is the
conversion of approximately 10.9 million tonnes of Inferred
resource to that of Indicated. The 10.9 million tonne one kilometre
long Inferred target averages 0.74% nickel (80,700 tonnes of
nickel) and 0.20% copper (21,800 tonnes of copper). The Inferred
block is presently the largest single block of Inferred resource
representing approximately 50% of the total Inferred resource
within the boundaries of the Kun-Manie mining licence. To complete
the resource conversion to that of Indicated, approximately 6,000
metres of infill drilling is planned. In addition, a minimum of 7
metallurgical holes are planned totaling an additional 1,500 to
2,000 metres.
The remaining 2,000 metres will be conducted as step out
drilling. Two targets are available for resource expansion.
Immediately to the east (toward the eastern limit of the mining
licence), geochemical sampling and trenching has exposed economic
grade nickel over a distance of 800 to 1,000 metres. The second
target is located immediately to the west and is the three
kilometre long target between KUB and IKEN. Here, geological
mapping, geophysical and geochemical sampling surveys indicated
resource expansion may be possible. Mineral expansion in the dip
direction is also possible.
Ikenskoe / Sobolevsky
A total of 5,000 metres are planned for drilling at IKEN.
Approximately 2,000 to 2,500 metres is planned for completion on
the Sobolevsky part of the deposit located to the south and east of
the presently drill identified mineralisation. The objective is
resource expansion in the direction of the KUB deposit located
three kilometres to the east. Additional drilling will also be
completed to generate a metallurgical sample for this deposit.
A diagram showing the target areas for resource expansion can be
accessed here:
http://www.rns-pdf.londonstockexchange.com/rns/6699Y_-2017-3-6.pdf
Hydrological Investigations
Following last field season's hydrological investigations and in
anticipation of the planned 6.0 million tonne nickel copper ore
processing plant, where the ore will be processed using classical
flotation methods, the Company intends to complete a drill
programme to identify the potential source of water process the
ore. A drill programme has been defined to confirm the presence and
amount of water available will be implemented during the season.
Comprised of 6 to 8 holes, pump tests will be completed to
establish the amount of water available from wells. In addition,
water to be sourced from the Maya river will be evaluated.
Drilling is also planned in the area of the MKF deposit to
determine water inflow rates within the planned open pits and
underground operations to allow the determination of dewatering
requirements during production.
Equipment Purchases
As the Company moves forward, its activities on the site are
increasing beyond that of resource drilling. Studies and
engineering work related to the development of Kun-Manie are being
undertaken and additional equipment has been purchased to
facilitate completion of the necessary work. All equipment has been
delivered to the Ulak rail siding on the Baikal Amur rail system
(BAM) and includes the following:
-- 25 tonne truck mounted crane
-- A Caterpillar 320D2L excavator
-- A Caterpillar D6RII dozer
-- Water well drilling truck
-- Ural trucks for fuel, drop side loading and personnel transport
-- Portable personnel cabins
-- Water pump
-- Additional power generators
The total cost of the newly purchased equipment is approximately
$US 1.04 million.
Robin Young, CEO of Amur Minerals, commented:
"As we advance the project, we have begun to shift from resource
drilling to a more focused site engineering effort. We will
continue our exploration drilling intended to convert as much as
50% of the presently defined Inferred resource to Indicated and
evaluate the potential for resource expansion at and between
Ikenskoe / Sobolevsky and Kubuk where a large untested three
kilometre long target exists. Planning 15,000 metres of drilling
for the season, we will be stocking the site to allow for 20,000
meters in case the weather permits us to complete a longer drill
season as experienced last year.
"The newly acquired equipment will allow us to locate the needed
sources of water for use in the treatment of our ores, identify
potable water sources, and identify the mine dewatering
requirements at the Maly Kurumkon / Flangovy deposit which will
likely be the first deposit to be mined."
Enquiries:
Company Nomad and Broker Public Relations
Amur Minerals S.P. Angel Corporate Yellow Jersey
Corp. Finance LLP
Robin Young CEO Ewan Leggat Harriet Jackson
Laura Harrison Charles Goodwin
+44 (0) 7981 +44 (0) 2034 700 +44 (0) 7768
126 818 470 537 739
Glossary
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.
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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