Amur Minerals Corporation Company Prepared for Detailed Exploration (0254G)
February 27 2015 - 2:00AM
UK Regulatory
TIDMAMC
RNS Number : 0254G
Amur Minerals Corporation
27 February 2015
27 February 2015
AMUR MINERALS CORPORATION
(AIM: AMC)
Company Prepared for Detailed Exploration
Amur Minerals Corporation ("Amur" or the "Company"), the
exploration and development company focused on base metal projects
located in the Far East of Russia, reports that it is prepared and
capable to undertake an exploration drilling programme ("Project")
at its nickel - copper sulphide Kun-Manie project during the 2015
field season. As per the requirement of the "Detailed Exploration
and Production Licence" ("Production Licence"), the Company must
provide an exploration / development programme ("The Project")
leading to project implementation. With this document and the final
award of the Production Licence, which is currently in the final
stage of review by the Government of Prime Minister Dmitry
Medvedev, the Company can initiate field operations. Using
available equipment, spares and the purchase of support materials,
the Company is now positioned to undertake up to 6,000 metres of
drilling during 2015.
Whilst awaiting the final decision of the Russian Government on
the award of the Production Licence, the Company has defined a
detailed exploration programme for Kun-Manie. The programme covers
all deposits and additional areas of mineral potential and will
serve as the basis for conducting detailed exploration. The
document, which is almost finalised, will be an integral part of
the development programme. The Project plan includes consideration
of metallurgical test work and design planning options.
By compiling the plan in advance of the award of the Production
Licence, the Company is in position to swiftly mobilise and conduct
a drill programme during the 2015 field season. Typically, field
work begins in early June of each year when sufficient water from
thawing streams is available for drilling. By proactively preparing
the necessary documentation, work can begin on a timely basis.
The Company has sufficient fuel and supplies for a total of
6,000 metres of drilling during the field season. "Detailed
Exploration" will be initiated at the Maly Kurumkon / Flangovy
deposit, which contains nearly 45% of the presently identified
mineralization. The total JORC 2013 resource is approximately
830,000 tonnes of nickel equivalent metal. In-fill drilling of
Inferred Resources (converting to Indicated) and step-out drilling
to define the lateral extent of the mineralisation are planned.
By compiling the required documentation in advance of the award
of the Production Licence, this ensures the Company can undertake a
field season upon award of the Production Licence. Typically, the
Company-owned drill rig averages from 1,250 to 1,750 metres monthly
at a cost of approximately $50 per metre. Four months of drilling
are planned, with the optimal season ranging from late May through
to November 2015.
Robin Young, CEO of Amur Minerals Corporation, commented:
"Amur is ready to undertake further detailed exploration at
Kun-Manie during 2015. By proactively compiling all of the
necessary documentation in advance of the award of the Production
Licence and currently having sufficient drill inventory, we
anticipate the completion of up to 6,000 metres of drilling in the
largest ore body thus far defined to be present within the
anticipated production licence boundary. Low-cost drilling should
expand both the resource and reserve at Maly Kurumkon / Flangovy.
The effort will also target underground mineable potential below
the preliminarily defined open cast pits. We are ready to advance
this project under our stewardship."
Enquiries:
Company Nomad and Broker Public Relations
Amur Minerals S.P. Angel Corporate Finance Yellow Jersey
Corp. LLP
Robin Young CEO Ewan Leggat Dominic Barretto
Katy Birkin Kelsey Traynor
+44 (0) 7981 126 +44 (0) 77 6853
818 +44 (0) 20 3470 0470 7739
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.
For further information, see the Company website at
www.amurminerals.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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