TIDMAMC
RNS Number : 4905D
Amur Minerals Corporation
27 October 2015
27 October 2015
AMUR MINERALS CORPORATION
(AIM: AMC)
Flangovy 2015 Infill Drilling Complete
Pervasive 1.0% Nickel Intersected
Amur Minerals Corporation ("Amur" or the "Company"), the
nickel-copper sulphide mineral exploration and resource development
company focused on the far east of Russia, is pleased to inform
shareholders that it has successfully completed the Flangovy infill
drilling phase of its 2015 drill programme. The infill programme
targeted the 29 million tonne Flangovy Inferred resource area, and
has successfully confirmed the continuity of the mineralisation
throughout the 800 metre long target. A total of 26 holes indicate
the Flangovy Inferred mineralisation has an average length weighted
nickel grade of 0.79% with copper being 0.21%. The average ore hole
contains a total of 26.9 metres of mineral with the discrete
intersections being 14.2 metres. The continuity of high grade
mineralisation suitable for underground mining methods, had been
confirmed and 78% of the defined nickel is contained within
discrete lenses (in excess of 0.7% nickel) averaging 9.3 metres
(18.9 metres per ore hole) in thickness. The grade is in excess of
1.0% nickel.
These high grade structures are typical of those associated with
a Tier 1 producer. It is anticipated that the final analytical
results generated by Alex Stewart Laboratories ("ASL") will be
available in December 2015, at which time the resource estimate
will be updated for the Maly Kurumkon / Flangovy deposit. The
update will specifically include both open cast and underground
production scenarios.
Having completed the Flangovy infill drill programme and with
weather conditions permitting continuance of drilling, the Company
began drilling infill holes at Maly Kurumkon in mid-October. These
holes are planned for completion in 2016.
Highlights:
-- Infill drilling of the 800 metre long 29 million tonne
Inferred Flangovy resource was designed to verify existing drill
results used to define the resource. Based on the 12 existing holes
(2,474.1 meres), the targeted infill drill results were anticipated
to contain a length weighted average nickel grade of 0.76% nickel
and 0.22% copper. The average individual mineralised thickness was
anticipated to be 27.9 metres per hole.
-- The fourteen 2015 infill drill holes (3,915.1 metres)
intersecting ore contained a length weighted average nickel grade
of 0.81% and 0.21% for copper. The average thickness was 26.0
metres per hole. The infill drill spacing has doubled the drill
density thereby confirming the continuity of the mineralisation
with regard to contained metal and mineralised thicknesses.
Doubling of the drill density will allow for upgrading a
substantial portion of the future resource estimates at Flangovy to
that of an Indicated resource.
-- Globally, the 26 hole Flangovy drill dataset contains a
length weighted nickel grade of 0.79% with copper being 0.21%. The
average thickness of each discrete intersection is 14.2 metres with
the average combined total mineralised length per hole being 26.9
metres.
-- Continuous high grade lenses (exceeding 0.7% nickel) are
present along the length of the Flangovy area. Approximately 78% of
the drill defined metal is projected to be contained within the
high grade structures averaging 1.03% nickel and 0.27% copper. The
average discrete mineralised thickness of the high grade intercepts
is 9.3 metres. This confirms that an underground production
scenario is necessary for the purposes of resource estimation,
planning and scheduling. These resources could result in a
substantial portion of Flangovy consisting of reserves similar to
that of Tier 1 nickel mining companies.
-- The average grade of the current Flangovy Inferred resource
is projected to be 0.55% nickel which is substantially lower than
that indicated by the newly updated global drill results. Drill
results are approximately 50% higher in grade than that of the
current resource model.
-- As reported in an earlier RNS, dated 3 September 2015, a 400
metre long extension identified through step out drilling eastward
along Flangovy will be included in the resource update. This area
will likely be classified as Inferred resource and is approximately
50% the length of the current Flangovy Inferred resource area that
was infill drilled in this season.
-- An updated resource estimate is planned. Within the new
estimates, specific production domains will be examined which
consist of both open cast and underground scenarios. The update
will be initiated upon receipt of the final independent analytical
results determined by ASL. Final results are expected in December
2015.
-- Subsequent to the update of the resource model planned for Q1
2016, a detailed production schedule for the Maly Kurumkon /
Flangovy area will be compiled. The resultant model will be
scheduled to optimise production targeting earlier production of
the higher underground grades than previously anticipated by the
existing resource model.
-- Having completed the Flangovy infill programme and suitable
weather conditions continuing, the Company began drilling infill
holes (mid-October) at the immediately adjacent Maly Kurumkon area.
Drilling will continue while weather remains favourable. A total of
6,000 metres remains the objective for the drill season.
-- The Company is reviewing the potential update models using
specific and unique mining domains allowing for open cast versus
underground production scenarios at the deposits of Kubuk and
Ikenskoe / Sobolevsky.
The primary objective of the 2015 drill programme was to
complete an infill drill programme doubling the drill density
confirming the continuity and contained grade within the 800 metre
long area of Flangovy. This area contains the currently reported
JORC standard Inferred resource estimate compiled by SRK Consulting
UK Ltd ("SRK"). A total of 29 million tonnes of mineralisation
defined to be present with average grades are 0.55% nickel and
0.16% copper. The estimate was based on a total of 12 diamond core
drill holes that intersected the ore host zone with drilling having
been conducted on five sections spaced from 200 metres to 250
metres apart.
In early 2015, the Company budgeted approximately 5,000 metres
as infill holes including a contingency of 20%. A total of 3,915.1
metres were drilled within 14 holes that intersected the ore host
zone between existing drill sections. The existing 12 holes had
intersected individual mineralised thicknesses averaging 11.2
meters, having a nickel grade of approximately 0.75% and a copper
grade of 0.20%. The 2015 infill drill programme, intercepted an
average individual lense thickness of 14.6 metres having an average
grade of nickel at 0.81% and 0.21% for copper, respectively. Hence,
the Company considers the infill programme has been successful and
that the continuity of the ore host structures and contained grade
has been confirmed along the length of the 800 metre area.
The current drill section spacing at Flangovy is now similar to
that of resource areas which SRK has previously defined as
Indicated resource. With the continuity established, an updated
resource estimate within the Flangovy area should allow for
conversion of a substantial portion of a planned update to the
resource to be Indicated by resource classification. The resource
update will now be specifically domain modeled reflecting the lower
versus higher grade zones (open cast versus underground). The
definition of the high grade lenses averaging in excess of 1.0%
nickel will be specifically modeled to allow for reserve definition
and consideration of the underground design and potential
production grades.
Persistent high grade intervals in excess of 0.7% nickel have
also been confirmed. The high grade lenses individually average 9.3
metres in thickness and contain an average length weighted grade of
1.03% nickel and 0.27% copper. As previously identified in a 30
March 2015 RNS, this mineralisation represents the potential source
of ore production using large scale underground mining methods.
These high grade Tier 1 type production grades had not been
specifically modeled in the past due to the then limited drilling
(12 holes). The more than doubling of the drill density requires a
comprehensive resource model update to reflect the new drill
information and a reclassification of a substantial portion of the
current resource which is wholly assigned to the Inferrred resource
class.
Robin Young, CEO of Amur Minerals, commented:
"We are extremely pleased with the success of the 2015 drill
programme. We expanded Flangovy an additional 400 metres eastward,
increasing the global resource. Additionally, we have confirmed the
continuity and grade of the Flangovy ore zone over a length of 800
metres, which should allow for a planned resource update from
Inferred resource to Indicated. We have also identified Tier 1
mineralisation that could be mined using underground methods, and
have started drilling some of next year's planned holes at Maly
Kurumkon.
"The most significant of these accomplishments is the
identification of mineralised ore comprised of underground mineable
thickness typical of a Tier 1 operation. The 2015 drilling confirms
that nearly 80% of the nickel is contained within these structures
averaging more than 1.0% nickel. The addition of geological
information and a continued increase in knowledge on the high grade
mineralisation has also been highly beneficial. With the increased
knowledge that is garnered from each drill programme, the Company
is reviewing domain modeling consideration at Kubuk and a part of
Ikenskoe / Sobolevsky. Statistical analyses will be completed and
new open cast - underground domains will be examined to establish
if additional Tier 1 production mineralisation can be
identified.
(MORE TO FOLLOW) Dow Jones Newswires
October 27, 2015 03:00 ET (07:00 GMT)
"Even though we approach the end of our drill season with
temperatures approaching -20C, we are extremely busy and will
remain so during the winter season. We are already planning the
2016 season and engineering works related to the development of
Kun-Manie. There are technical milestones that we continue to
pursue while simultaneously working toward a final Definitive
Feasibility Study. As we attain each milestone, we shall continue
to inform our shareholders of the accomplishments."
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
+44 (0) 7981 +44 (0) 20 3470 +44 (0) 7768
126 818 0470 537 739
For additional information, visit the Company's website,
www.amurminerals.com.
Notes to Editors:
The information contained in this announcement has been reviewed
and approved by the CEO of Amur, Robin Young. Mr. Young is a
Geological Engineer (cum laude) and is a Qualified Professional
Geologist, as defined by the Toronto and Vancouver Stock Exchanges
and has sufficient experience relevant to the style of
mineralisation and type of deposit under consideration and to the
activity which he is undertaking to qualify as a Competent Person
as defined in the 2012 Edition of the "Australasian Code for
Reporting of Exploration Results, Mineral Resources and Ore
Reserves" and as a "qualified person" as defined in the Guidance
Note for Mining, Oil And Gas Companies, June 2009, of the London
Stock Exchange.
Analytical Results:
The analytical results contained within this RNS are based on
two sources. The results for the drill holes completed prior to
2015 have been determined by ASL and are the final results used in
the determination of resources and reserves. The second set of
information obtained during the current 2015 drill programme is
determined by the Company using a Niton XL2 500 X-Ray Fluorescence
unit ("Niton"). The Company considers the Niton results to be
preliminary in nature and utilises the information for reporting
purposes. All samples for which Niton results are available are
assayed by ALS. The ALS results supersede those of the Company and
are used in resource estimation. Statistically, a comparision of
the results confirms the Company results are reflective of the
final results generated by ALS.
See the following link for schematic drawings and information
related to this release.
http://www.rns-pdf.londonstockexchange.com/rns/4905D_-2015-10-26.pdf
2015 Niton Results at 0.2% High Grade Intervals
Cutoff Grade >0.7% Nickel
Ni Cu Ni Cu
Depth Hole From To Length % % From To Length % %
175.0 C315 142.5 151.0 8.5 0.77 0.20 143.8 151.0 7.2 0.88 0.24
C315 157.0 163.0 6.0 0.56 0.13 158.5 161.5 3.0 0.74 0.14
C315 14.5 0.68 0.17 10.2 0.84 0.21
---------- ----- ------- ------ ------- ----- ----- ------ ------ ------- ----- -----
C316 Barren
---------- ----- ------- ------ ------- ----- ----- ------ ------ ------- ----- -----
196.0 C317 123.4 145.6 22.2 0.64 0.15 123.4 130.0 6.6 1.05 0.50
C317 140.5 144.4 3.9 0.73 0.15
C317 10.5 0.93 0.37
---------- ----- ------- ------ ------- ----- ----- ------ ------ ------- ----- -----
121.0 C318 23.3 32.5 9.2 0.64 0.17 23.3 31.0 7.7 0.82 0.18
------ ------ ------- ----- -----
289.3 C311 215.5 271.3 55.8 1.13 0.25 215.5 257.5 42.0 1.20 0.26
C311 262.0 271.3 9.3 1.26 0.35
C311 51.3 1.21 0.27
---------- ----- ------- ------ ------- ----- ----- ------ ------ ------- ----- -----
325.0 C312 278.5 298.0 19.5 0.72 0.22 283.0 292.0 9.0 0.99 0.47
C312 304.0 313.8 9.8 0.61 0.19 307.0 311.5 4.5 0.79 0.21
C312 29.3 0.68 0.21 13.5 0.92 0.38
---------- ----- ------- ------ ------- ----- ----- ------ ------ ------- ----- -----
229.0 C313 136.6 140.5 3.9 0.38 0.17
------ ------ ------- ----- -----
266.2 C314 200.1 217.0 16.9 0.61 0.12 202.6 205.0 2.4 1.29 0.28
C314 214.0 217.0 3.0 1.01 0.22
C314 5.4 1.13 0.25
---------- ------- ------ ------- ----- ----- ------ ------ ------- ----- -----
262.0 C304 149.5 152.5 3.0 0.36 0.21
C304 158.9 161.5 2.6 0.33 0.17
C304 248.5 257.7 9.2 0.87 0.25 250.0 255.7 5.7 1.10 0.40
C304 14.8 0.67 0.23
---------- ------- ------ ------- ----- ----- ------ ------ ------- ----- -----
395.0 C307 295.6 305.9 10.3 0.94 0.24 298.6 305.9 7.3 1.14 0.29
C307 313.0 344.2 31.2 0.88 0.24 314.5 334.0 19.5 1.11 0.28
C307 352.0 369.7 17.7 0.77 0.19 358.0 369.7 11.7 0.92 0.22
C307 59.2 0.86 0.22 38.5 1.06 0.26
---------- ------- ------ ------- ----- ----- ------ ------ ------- ----- -----
376.0 C310 310.6 326.1 15.5 0.91 0.25 312.1 324.6 12.5 1.02 0.31
C310 331.1 343.9 12.8 0.55 0.14 331.1 334.0 2.9 0.82 0.20
C310 28.3 0.75 0.20 15.4 0.98 0.29
---------- ------- ------ ------- ----- ----- ------ ------ ------- ----- -----
229.6 C302 143.8 161.5 17.7 0.72 0.26 145.4 160.0 14.6 0.76 0.29
C302 185.5 203.5 18.0 0.90 0.22 185.5 202.0 16.5 0.96 0.30
C302 206.5 218.6 12.1 0.87 0.22 208.0 218.6 10.6 0.96 0.25
C302 47.8 0.83 0.23 41.7 0.89 0.28
---------- ------- ------ ------- ----- ----- ------ ------ ------- ----- -----
245.0 C303 224.5 234.8 10.3 0.94 0.26 226.9 234.8 7.9 1.17 0.31
---------- ----- ------- ------ ------- ----- ----- ------ ------ ------- ----- -----
400.0 C308 358.0 368.5 10.5 0.61 0.15 360.3 365.5 5.2 0.93 0.21
C308 374.5 382.0 7.5 0.72 0.19 376.0 382.0 6.0 0.76 0.17
C308 18.0 0.66 0.16 11.2 0.84 0.19
---------- ------- ------ ------- ----- ----- ------ ------ ------- ----- -----
406.0 C309 317.5 331.0 13.5 0.80 0.16 317.5 322.0 4.5 1.37 0.23
C309 341.5 362.3 20.8 0.80 0.20 341.5 349.0 7.5 1.04 0.28
C309 358.0 361.0 3.0 0.80 0.20
C309 34.3 0.80 0.19 15.0 1.09 0.25
---------- ----- ------- ------ ------- ----- ----- ------ ------ ------- ----- -----
3,915.10 364.5 0.81 0.21 234.0 1.02 0.28
Holes 14 26.0 13 18.0
Intervals 25 14.6 26 9.0
---------- ----- ------- ------ ------- ----- ----- ------ ------ ------- ----- -----
Pre - 2015 ASL Results at 0.2% High Grade Intervals
Cutoff Grade >0.7% Nickel
Ni Cu Ni Cu
Depth Hole From To Length % % From To Length % %
69.9 C197 15.1 21.2 6.1 0.47 0.15
C197 38.6 46.8 8.2 1.00 0.43 40.1 45.6 5.5 1.17 0.65
C197 50.0 62.6 12.6 0.82 0.26 53.3 59.5 6.2 1.14 0.33
C197 26.9 0.79 0.29 11.7 1.15 0.48
---------- ------- ------ ------ ------- ------ ------ ------ ------ ------- ----- -----
94.8 C198 57.8 68.8 11.0 0.68 0.20 60.5 65.2 4.7 1.30 0.37
C198 76.0 84.5 8.5 0.84 0.20 80.3 83.5 3.2 1.40 0.32
C198 19.5 0.75 0.20 7.9 1.34 0.35
---------- ------- ------ ------ ------- ------ ------ ------ ------ ------- ----- -----
157.7 C199 99.9 105.1 5.2 0.95 0.22 99.9 105.1 5.2 0.95 0.22
C199 116.3 123.7 7.4 0.78 0.19 117.9 122.3 4.4 0.90 0.21
(MORE TO FOLLOW) Dow Jones Newswires
October 27, 2015 03:00 ET (07:00 GMT)
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