LONDON (Alliance News) - Nickel-copper sulphide mining firm Amur Minerals Corp said on Wednesday it has drilled a total of 5.1 kilometres through 41 drill holes at the Kun-Manie project in Russia.
Three objectives were outlined at the start of the drilling: The development of detailed mine designs allowing for the approval of mining operations, acquisition of a large scale metallurgical sample along the Ikenskoe / Sobolevsky and Kubuk mineral trend, and the conversion of Inferred Resources into Indicated Resources.
All objectives have been completed, with 1,085 samples collected and due to be analysed for nickel, copper, cobalt, platinum and aluminium.
The large high grade ore bloc identified as inferred resources has been drilled for resource conversion, with four holes out of 16 completed. Amur has calculated that the four holes contains an average vertical mineralised thickness of 31.3 metres at length weighted average grades of 0.95% nickel and 0.25% copper.
An addition 6.0 kilometres of drilling is planned for the conversion and potential expansion of the block.
"Having planned to drill approximately 20,000 metres over the course of the season, and having already completed more than 5,000 metres of drilling, we are rapidly advancing towards the completion of our 2018 drill objectives," said Chief Executive Officer Robin Young.
"The Russian Federation infill drilling requirement allows the Company to complete detailed exploration, post reserves with the State Reserves Committee, and progress towards mine designs and approval for the construction phase. This infill drilling has already been completed at two of the four deposits," Young added.
Shares in Amur Minerals were down 1.7% at 5.03 pence on Wednesday.
