TIDMAMC
RNS Number : 3709M
Amur Minerals Corporation
28 July 2017
28 July 2017
AMUR MINERALS CORPORATION
(AIM: AMC)
Drilling Expands Kubuk Resource
Newly defined mineralisation has potential to significantly
expand mining potential
Amur Minerals Corporation ("Amur" or the "Company"), a
nickel-copper sulphide mineral exploration and resource development
company focused on its Kun-Manie project in the Russian Far East,
is pleased to provide an update on its drill results for the Kubuk
("KUB") deposit.
Drill results from 30 June 2017 through to 21 July 2017 continue
to expand the resource westward towards the Ikenskoe / Sobolevsky
("IKEN") deposit. Drilling, at a spacing used by RPMGlobal Asia
Limited ("RPM") to identify Indicated resources, has extended the
10 February 2017 resource limits in both the strike and dip
directions. The newly defined mineralisation has an average
thickness per drill hole (10) of 14.3 metres (21.5 metres -
resource model) averaging 0.78% nickel (0.80% - resource model) and
0.20% copper (0.20% - resource model). This newly defined
mineralisation has the potential to significantly expand the
underground mining potential at Kubuk.
Highlights:
-- Successful resource expansion drilling continues at KUB.
-- Spatially, the limits of the mineralisation by now have been
expanded by approximately 50% from that of the 10 February 2017
resource model, which contains 14.5 million ore tonnes and a total
of 112,000 nickel tonnes (at 0.77%) and 30,000 tonnes of copper (at
0.20%). Mineralisation averages approximately 20 metres in
thickness.
-- The newly defined mineralisation averages approximately 14.3
metres thickness per ore hole with average grades of 0.78% nickel
and 0.20% copper having been identified.
-- Two substantial targets remain undrilled, each containing
substantial resource expansion potential.
-- To the west of KUB, the largest existing drill target, having
a total length of 2,500 metres, is present. Successful drilling
along this target could result in the joining of the IKEN and KUB
deposits to create a single large deposit of more than four
kilometres in total length.
-- The second target lies to the east of KUB, identified by
geochemical sampling and trenching, this one kilometre long target
area also requires drilling.
-- In the near future, drilling will likely shift to the eastern
target to allow for the continued safe construction of drill roads
and drill pads located at the western limits of the newly defined
mineral limits. Once completed, and safe operating conditions are
established, the focus of drilling will shift back to the western
target.
-- Infill drilling of the currently defined Inferred Mineral
Resource Estimate of 10.9 million tonnes averaging 0.74% nickel and
0.20% copper has been completed. Eight infill holes have defined an
average of 0.80% nickel and 0.27% copper at an average thickness of
22.6 metres per ore hole. The infill drilling is intended to
convert the Inferred resource to Indicated.
The ongoing resource expansion drill phase at KUB has been
highly successful with probable conversion of Inferred resource to
that of Indicated and the identification of additional contiguous
economic grades of mineralisation being identified in both the
eastern and western directions from the 10 February 2017 resource
model.
Drilling continues at the IKEN deposit progressing eastward
toward the KUB deposit. Results from the IKEN drill programme are
reported in separate RNS releases.
Robin Young, CEO of Amur Minerals, commented:
"We are pleased with the continued progress at Kun-Manie.
Drilling at Kubuk continues to identify new resources of economic
grade. Having added additional resource potential, at both the
eastern and western limits of deposit, and having drilled them at a
spacing used to define Indicated resources, we are pleased to be
adding to the mining potential of Kun-Manie. We believe we have
added as much as another three years to our production through
resource conversion to Indicated resource and newly defined
mineralisation.
"Substantial resource expansion potential remains at both ends
of the Kubuk deposit. More than 3,000 metres of target length
remains to be drilled, with the largest potential being located in
the west toward our Ikenskoe / Sobolevsky deposit. Drilling at
Ikenskoe / Sobolevsky is also underway and we look forward to
updating the market with these results in the near future."
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.
Enquiries:
Company Nomad and Broker Public Relations
Amur Minerals S.P. Angel Corporate Yellow Jersey
Corp. Finance LLP PR
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
For additional information, visit the Company's website,
www.amurminerals.com.
Click on, or paste the following link into your web browser, to
view the associated PDF document and audio file.
http://amurminerals.com/content/wp-content/uploads/2017-Drill-Results-July-27-Kubuk.pdf
http://amurminerals.com/content/wp-content/uploads/Kubuk-audio-27-July-2017.mp3
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 which includes
results reported by RPMGlobal Asia Limited ("RPM").
For further information, see the Company website at
www.amurminerals.com.
Global Summary of Kubuk Drilling
A comprehensive review of all 2017 Kubuk drill results is
provided within the information below.
2017 Kubuk Drill Programme Objectives
To date, two of the stated four drill objectives have been
successfully completed at KUB:
-- Definition of the mineralised limits at depth and near the
outcrop allowing for the determination of potential mining limits
at KUB. Based on the 10 February 2017 RPM defined Mineral Resource
Estimate ("MRE") limits, the potential resource limits have been
defined along the northern limit over a 600 metre length.
Completed.
-- Infill drilling allowing for the conversion of existing
Inferred resources to Indicated. The area where infill drilling has
been completed contains 10.9 million Inferred ore tonnes averaging
0.74% nickel and 0.20% copper. Completed.
-- Resource expansion at two targets referred to as BK and LK.
The largest target is BK and is part of a larger 2,500 metre long
target covering the area between the IKEN and KUB deposits.
Presently, the BK is being drilled using a step out approach in the
westward direction from KUB. The LK target is a 1,000 metre long
area which lies to the east of the 10 February 2017 KUB resource
model. In Progress.
-- Obtain additional metallurgical sample for use in process flowsheet determination. Planned.
Global Drill Progress to Date
As of 23 July 2017, a total of 52 holes have been completed with
13,028 metres having been drilled at both KUB and IKEN representing
65% of the 2017 budgeted metres (20,000 metres) have been
completed.
Kubuk Drill Progress
From 5 May 2017 through 23 July 2017, the Company's LF90 Boart
Longyear rig has drilled 7,136.0 metres of NQ diameter core within
27 holes at KUB averaging 264.3 metres per hole. (The Company's
LF70 continues drilling at IKEN) A plan map of the KUB drill hole
locations is provided in a link at the end of this RNS.
Kubuk Drill Summary by Objective
Drill Objective Holes Total Average Length
Metres (m)
-------------------------- ------ --------- ---------------
Mineral Limit Definition 6 1,462.0 243.7
Infill Definition 8 1,148.0 143.5
Resource Expansion 13 4,526.0 348.2
Metallurgical Sample 0 0.0 0.0
Collection
-------------------------- ------ --------- ---------------
Average or Total 27 7,136.0 264.3
-------------------------- ------ --------- ---------------
Definition of Mineralisation
The Company MRE's are based on a 0.4% nickel only cutoff grade
("COG") at a minimum potential mining thickness of 3.0 metres. The
reported analytical results and mineralised intervals within this
RNS are based on these criteria. Internal waste (<0.4% nickel
and less than 3.0 metres) is also included in the determination of
reported thickness and grades of the contained metal. By inclusion
of this internal waste, a more accurate representation of potential
mining grades is provided.
Mineral Limit Drill Results
As of 22 June 2017, a 600 metre length of the KUB deposit had
been drilled to identify the limits of the mineralisation
delineated by the 10 February 2017 RPM Mineral Resource Estimate
("MRE"). This component of the drill programme was conducted to
determine open pit and underground mine production limits. Of the
six holes, only two intersected economic levels of mineralisation.
The two mineralised holes contain an average of 7.0 metres of
mineralisation with a nickel grade of 0.74% and a copper grade of
0.18%. Additional drilling in the immediate vicinity of these two
holes may be implemented later in the season although these are of
a low priority.
Average Drill Results
Mineral Limit Determination
Hole From To Length Ni Cu
ID (m) (m) (m) (%) (%)
--------- ------------- ----- ------ ----- -----
449 No Ore
--------- ------------------------------------------
450 No Ore
--------- ------------------------------------------
454 238.0 243.0 5.0 0.80 0.16
--------- ------------- ----- ------ ----- -----
455 No Ore
--------- ------------------------------------------
C456 92.3 95.3 3.0 0.97 0.14
--------- ------------- ----- ------ ----- -----
100.0 103.0 3.0 0.40 0.07
--------- ------------- ----- ------ ----- -----
184.0 187.0 3.0 0.77 0.37
--------- ------------- ----- ------ ----- -----
C460 No Ore
--------- ------------------------------------------
7.0
m
Average 3.5 m Per 14.0
or Total Per Interval Hole m 0.74% 0.18%
--------- ------------- ----- ------ ----- -----
Infill Drill Results
The KUB deposit contains 14.5 million resource tonnes averaging
0.77% nickel and 0.20% copper. Of this, approximately 10.9 million
Inferred tonnes have been estimated by RPM at the average grades of
0.74% nickel and 0.20% copper which required infill drilling
allowing for its conversion to Indicated resource for inclusion in
mine reserve definition.
Kubuk MRE Summary
Resource Ore Ni Cu Co Pt Pd Eq Contained Metal (t)
Classification Mt % % % g/t g/t Ni
(%)
---------------- ----- ----- ----- ------ ----- ----- ----- -------------------------------------------------------
Ni Cu Co Pt Pd Eq
(1000's) (1000's) (1000's) (t) (t) Ni
(1000's)
---------------- ----- ----- ----- ------ ----- ----- ----- --------- --------- --------- ---- ---- ----------
Measured -
---------------- ----- ----- ----- ------ ----- ----- ----- --------- --------- --------- ---- ---- ----------
Indicated 3.6 0.87 0.21 0.016 0.18 0.19 1.17 31 8 0.6 0.6 0.7 41.6
---------------- ----- ----- ----- ------ ----- ----- ----- --------- --------- --------- ---- ---- ----------
M+I 3.6 0.87 0.21 0.16 0.18 0.20 1.17 31 8 0.6 0.6 0.7 41.6
---------------- ----- ----- ----- ------ ----- ----- ----- --------- --------- --------- ---- ---- ----------
Inferred 10.9 0.74 0.20 0.015 0.16 0.14 1.00 81 22 1.7 1.7 1.5 109.5
---------------- ----- ----- ----- ------ ----- ----- ----- --------- --------- --------- ---- ---- ----------
KUB TOTAL 14.5 0.77 0.20 0.016 0.16 0.15 1.04 112 30 2.3 2.3 2.2 149.5
---------------- ----- ----- ----- ------ ----- ----- ----- --------- --------- --------- ---- ---- ----------
This infill drilling component consisted of eight holes and was
completed 16 June 2017. All holes intersected economic levels of
mineralisation. The average mineralised thickness per hole was 22.6
metres at an average nickel grade of 0.80% and copper being 0.27%
replicating the estimated MRE grades (0.74% nickel and 0.20%
copper) for the Inferred category. The Company believes that the
infill drill programme will upgrade a substantial portion if not
all of the Inferred resource to that of Indicated.
Average Drill Results
Infill Drill Results
Hole From To Length Ni Cu
ID (m) (m) (m) (%) (%)
--------- ------------- ----- ------ ----- -----
446 6.8 37.7 30.9 0.82 0.25
--------- ------------- ----- ------ ----- -----
447 40.5 47.2 6.7 0.86 0.22
--------- ------------- ----- ------ ----- -----
448 82.0 98.3 16.3 0.88 0.22
--------- ------------- ----- ------ ----- -----
451 200.2 228.3 28.1 0.62 0.35
--------- ------------- ----- ------ ----- -----
452 196.7 214.0 17.3 0.85 0.28
--------- ------------- ----- ------ ----- -----
219.4 251.2 31.8 0.82 0.27
--------- ------------- ----- ------ ----- -----
C457 58.6 61.6 3.0 0.60 0.15
--------- ------------- ----- ------ ----- -----
125.0 131.0 6.0 0.81 0.35
--------- ------------- ----- ------ ----- -----
C461 61.0 64.0 3.0 0.43 0.12
--------- ------------- ----- ------ ----- -----
C462 55.1 70.0 14.9 1.05 0.23
--------- ------------- ----- ------ ----- -----
22.6
17.6 m
Average m Per 158.0
or Total Per Interval Hole m 0.80% 0.27%
--------- ------------- ----- ------ ----- -----
Resource Expansion Drill Results
The ongoing resource expansion drilling component of KUB has
expanded the mineral resource immediately adjacent the 10 February
2017 RPM resource model at both its eastern and western limits.
Substantial expansion to the resource remains to be drilled.
At the west end of KUB, geochemical and geophysical results
indicate that mineralisation could continue westward for an
additional 2,500 metres, potentially linking the KUB and IKEN
deposits together creating a large deposit ("ISK") up to four
kilometres in total length. At the west end, 10 holes have been
completed, all of which have intersected mineralisation along
strike and in the down dip direction from previous drill holes
(completed in 2013). The length of new mineralisation is projected
to be approximately 500 metres. Averaging 14.3 metres per hole, the
grade of the mineralisation is projected to be 0.780% nickel and
0.20% copper. Mineralisation is open to the west and requires
drilling to define the full extent of the mineralisation and is
planned for additional drilling during 2017.
Resource expansion drilling at the western end of KUB
follows:
2017 Kubuk Western Resource Expansion Results
Hole ID From (m) To (m) Length Ni Cu RNS
(m) (%) (%)
--------- ------------- --------- ------ ---- ---- -------
453 314.9 329.1 14.2 1.03 0.22 6 July
--------- ------------- --------- ------ ---- ---- -------
335.8 338.8 3.0 0.59 0.31
--------- ------------- --------- ------ ---- ---- -------
C463 386.0 389.0 3.0 0.69 0.24 6 July
--------- ------------- --------- ------ ---- ---- -------
C464 277.0 290.5 13.5 0.58 0.18 6 July
--------- ------------- --------- ------ ---- ---- -------
332.5 335.5 3.0 0.44 0.21
--------- ------------- --------- ------ ---- ---- -------
C465 295.6 308.8 13.2 1.07 0.22 6 July
--------- ------------- --------- ------ ---- ---- -------
322.0 351.4 29.4 0.73 0.20
--------- ------------- --------- ------ ---- ---- -------
C466 339.5 345.0 5.5 1.19 0.31 27 July
--------- ------------- --------- ------ ---- ---- -------
C467 374.0 380.0 6.0 0.71 0.15 27 July
--------- ------------- --------- ------ ---- ---- -------
C468 404.4 416.5 12.1 0.80 0.21 27 July
--------- ------------- --------- ------ ---- ---- -------
419.6 422.6 3.0 0.53 0.12
--------- ------------- --------- ------ ---- ---- -------
C469 400.2 403.2 3.0 0.68 0.23 27 July
--------- ------------- --------- ------ ---- ---- -------
409.5 422.1 12.6 0.61 0.18
--------- ------------- --------- ------ ---- ---- -------
C470 393.3 407.4 14.1 0.81 0.15 27 July
--------- ------------- --------- ------ ---- ---- -------
410.7 415.0 4.3 0.88 0.11
--------- ------------- --------- ------ ---- ---- -------
C471 390.2 393.5 3.3 0.59 0.13 27 July
--------- ------------- --------- ------ ---- ---- -------
143.2
Average 9.0 m 14.3 m m
or Total Per Interval Per Hole Total 0.78 0.20
--------- ------------- --------- ------ ---- ---- -------
In addition to safety reasons, the current phase of drilling in
this western area shall be paused and subsequently resumed upon
completion of ongoing additional drill road and drill pad
construction.
At the eastern limit of the resource model, a large one
kilometer long target has been defined based on geochemical sample
results and exposures of anomalous nickel within trenches remains
largely untested by drilling. Three holes (two in ore) have been
completed immediately adjacent the edge of the resource model and
have confirmed mineralisation continues for an additional 100
metres averaging 1.02% nickel and 0.28% copper. The average
thickness identified in the two holes is projected to be 3.8
metres. A total of 900 metres of this large target remain to be
drilled. Drilling within this larger area is planned to be
conducted whilst drill road construction is in progress at the
western end of KUB.
Eastern Resource Expansion Drill Results
Hole From To Length Ni Cu RNS
ID (m) (m) (m) (%) (%)
---------- ------------- ----- ------ ----- ----- ------
C458 46.5 51.0 4.5 0.73 0.16 6 July
---------- ------------- ----- ------ ----- ----- ------
C459 30.2 33.2 3.0 1.45 0.47 6 July
---------- ------------- ----- ------ ----- ----- ------
3.8
m
Average 3.8 m Per 7.5
or Total Per Interval Hole m 1.02% 0.28%
---------- ------------- ----- ------ ----- ----- ------
Status of ASL Analytical Results
Analytical results reported within this RNS are internally
generated by the Company using two Niton XL2 500 X-Ray Fluorescence
units ("RFA"). The Company considers these RFA results to be
preliminary in nature (within 5%). The RFA results will be replaced
by independently verified ASL results, which are used in the
derivation of MRE's. To date, all reported 2017 results are RFA
based. Three batches of samples have been shipped to ASL with the
first batch delivered on 28 June 2017 and laboratory testwork now
complete and under management review. The second batch of samples
have also been delivered to ASL and testwork is underway. The third
batch of samples are now in transit Moscow, Russia. ASL results
will be reported when management review is complete.
Alex Stewart Laboratory Sample Status Update
Batch Number Of Status
ID Samples
------ ---------- -----------------
Under Management
1 665 Review
2 774 In Analysis
3 273 In Transit
------ ---------- -----------------
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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