TIDMAMC
RNS Number : 6490M
Amur Minerals Corporation
01 August 2017
1 August 2017
AMUR MINERALS CORPORATION
(AIM: AMC)
Record Drill Result at Kun-Manie
76.4 Metres of 0.93% Nickel and 0.21% Copper defined at
Ikenskoe/Sobolevsky
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 provide
its second update of drill results at its Ikenskoe / Sobolevsky
("IKEN") deposit.
Since 20 May 2017, IKEN drilling has been focused along the
western 1,600 metres of the 2,800 metre long ISK Target between the
IKEN and Kubuk ("KUB") deposits. Widely spaced holes (200 metres)
have confirmed the presence of mineralisation within two distinct
pods with a total combined mineralised strike length of
approximately 1,200 metres. The most recently completed and
easternmost hole located 1,150 metres for the KUB deposit has
intersected the largest and continuous thickness of mineralisation
ever drilled at Kun-Manie being 76.4 metres averaging 0.93% nickel
and 0.20% copper.
Highlights:
-- Drilling now totals 13,142 metres with 6,006 metres completed
at IKEN and 7,136 meters completed at KUB. Approximately 65% of the
planned 2017 drilling has been completed.
-- A total of 19 IKEN resource expansion drill holes have been
completed since 20 May 2017 with total drill metres now totaling
5,312 metres located along the westernmost 1,600 metre long segment
of the IK Target.
-- Based on a cutoff grade ("COG") of 0.4% nickel only and a
minimum thickness of 3 metres, two large continuous blocks of
mineralisation have been identified along the drilled portion of
the IK Target. The first block is approximately 500 metres in
strike length with a width of up to 400 metres. The second block
has an approximate length 700 metres and has been drilled by a
single row of holes.
-- The first block has been defined by seven holes with an
average thickness of 31.8 metres per ore hole having an average
length weighted grade of 0.98% nickel and 0.28% nickel. Additional
expansion potential of up to 750 metres remains in the dip
direction.
-- The second block has been defined by four holes along a
single strike oriented drill section along the ISK target.
Continuous mineralisation covering a length of 700 metres has been
identified having an average thickness of 35.8 metres per ore hole
with a length weighted nickel grade of 0.91% nickel and 0.22%
copper. The easternmost hole contains the greatest, continuous
thickness ever drilled at Kun-Manie being 76.4 metres containing
0.93% nickel and 0.21% copper. Expansion potential remains in both
the up and down dip directions as well as to the east toward the
KUB deposit located approximately 1,150 metres distant.
-- The average grades of the newly defined blocks of
mineralisation are substantially higher than the average grades of
the IKEN resource estimate where the nickel grade is estimated to
be 0.69% nickel and 0.17% copper.
The resource expansion phase of drilling at IKEN has been highly
successful. Over the course of the drill season, step out drilling
along the IK 2,800 metre long target area between IKEN and KUB has
identified two large blocks of mineralisation. Approximately 1,150
metres of this target remains to be drilled. As the Company
approaches the end of the drill season, infill drilling at IKEN is
planned to allow for the reporting of resources within the two
mineralised blocks. Drilling of the remaining eastern area of the
IK target is planned to be implemented from the KUK area once drill
roads and sites are constructed.
Robin Young, CEO of Amur Minerals, commented:
"Resource expansion drilling at Ikenskoe / Sobolevsky has reaped
substantial benefits since mid May of this year. We have already
discovered two new mineralised blocks along the 2,800 metre long
target between Ikenskoe / Sobolevsky and Kubuk. Having drilled
about 1,600 metres of the target length from the Ikenskoe /
Sobolevsky resource model limit, drilling indicates both blocks
average in excess of 0.9% nickel and 0.2% copper at average
thicknesses of more than 35 metres. These thicknesses are suitable
for underground mining. The mineral limits remain open at both
blocks with substantial expansion potential in the dip direction
and eastward toward Kubuk. With infill drilling, these two blocks
could substantially impact the project economics due to the higher
than historically drilled grades.
"The most recently defined block is located towards the middle
of the 2017 drill season target and contains the thickest
continuous mineralisation intercepted to date at Kun-Manie. With
grades of 0.93% nickel and 0.21% copper, the latest discovery is
nearly 76 metres thick. Located at the east end of this newly
discovered block, it is only 1,150 metres from the Kubuk deposit.
We look forward to reporting additional drill updates."
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.
For additional information, visit the Company's website,
www.amurminerals.com.
Please follow the links below to view additional information
related to the reported drill results and an audio overview.
http://amurminerals.com/content/wp-content/uploads/2017-Drill-Area-1-August-Iken.pdf
http://amurminerals.com/content/wp-content/uploads/1-August-2017-RNS-audio.mp3
Enquiries:
Company Nomad and Broker Public Relations
Amur Minerals S.P. Angel Corporate Yellow Jersey
Corp. Finance LLP
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
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.
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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