Amur Minerals Corporation Completion of Ice Road (2087Z)
March 13 2017 - 3:00AM
UK Regulatory
TIDMAMC
RNS Number : 2087Z
Amur Minerals Corporation
13 March 2017
13 March 2017
AMUR MINERALS CORPORATION
(AIM: AMC)
Winter Ice Road & Resupply Update
2017 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
that it has completed the construction of the 350 kilometre long
ice road from the Ulak station, on the Baikal - Amur rail line, to
its Kun-Manie project. Subsequently the Company has begun the
restocking for the 2017 field programme.
Highlights:
-- Construction of the ice road was completed on 22 February
2017 and resupply of the site is underway.
-- Ten vehicle convoys transport the supplies from the Company's
Ulak rail siding, traversing the 350 km long ice road.
-- Three of the eight planned trips have been completed to date,
delivering 140 tonnes of fuel and lubricants. A total of 360 tonnes
of fuel is scheduled for delivery, an increase of 120 tonnes over
last year.
-- A total of 220 tonnes of supplies, spares and food for the
upcoming season is scheduled for delivery, an increase of 60 tonnes
over 2016. Approximately 82 tonnes have been delivered.
-- The newly purchased capital items, including the Caterpillar
D6RII dozer, Caterpillar 320D2L excavator and water well drill rig,
are now at the Ulak rail siding and are being prepared for
transport to the site.
Upon completion of the most cost effective way to resupply our
operation, the Company will be in a position to drill a minimum of
15,000 metres of core holes, targeting Kubuk ("KUB") and Ikenskoe /
Sobolevsky ("IKEN") during the 2017 field season. Drilling will
include infill resource conversion (Inferred to Indicated) at KUB
and step out drilling at both KUB and IKEN. Metallurgical sampling
holes will also be completed.
The Company also plans to complete a series of bore holes in the
area of the plant site for determination of the amount of water
available to process the ore. In addition, bore holes will be
completed in the area of the Maly Kurumkon / Flangovy ("MKF")
planned open pits and underground operation to determine potential
water inflow rates and establish dewatering requirements if
necessary.
Robin Young, CEO of Amur Minerals, commented:
"With the increased tonnages to be delivered to site, we
initiated the construction of the winter ice road earlier,
commencing on 18 February 2017 and completing it on 22 February
2017. With the earliest ice road completion date ever, and the
acquisition of additional transport vehicles that will be used at
site during the field season, we have already been able to deliver
nearly 40% of the necessary 2017 field supplies to Kun-Manie. It
was not until 21 March of last year that we had reached the 50%
resupply level.
"We are on schedule and anticipate the successful completion of
the full resupply of the site. This is of course weather dependent
and the current -4 to -7 C temperatures work in our favour. The
current supply inventory level on site already allows for us to
complete about 8,000 metres of diamond core drilling. With the
delivery of the water well drill rig to site, the current inventory
of supplies will cover our planned hydrological drill programme. We
are well on the way to the implementation of the 2017 field
season."
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
+7 4212 75 56 +44 (0) 2034 700 +44 (0) 7544
15 470 275 882
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCJBMPTMBBBBTR
(END) Dow Jones Newswires
March 13, 2017 03:00 ET (07:00 GMT)
Amur Minerals (LSE:AMC)
Historical Stock Chart
From Mar 2024 to Apr 2024
Amur Minerals (LSE:AMC)
Historical Stock Chart
From Apr 2023 to Apr 2024