LONDON (Alliance News) - Amur Minerals Corp on Thursday said a conceptual pit study carried out at the Kun-Manie nickel-copper-sulphide project in Russia has identified a potential 70% increase to the target inferred resources at the site.
Amur said the conceptual study indicated successful in-fill drilling at Kun-Manie could increase the inferred resource estimate by up to 70% to a total of 67 million tonnes, at an average 0.59% nickel and 0.18% copper.
Amur said it will initiated in-fill drilling at the Maly Kurumkon, Flangovy, Kubuk, Ikensoe and Sobolevsky deposits at the project.
"Though simple in design, the conceptual open pit study has identified near-term drill priorities key to rapidly developing reserves that are necessary for obtaining bankability for Kun-Manie," said Amur Chief Executive Robin Young. "This study has also identified the potential for further reserve expansion by adding ores recoverable by underground mining which is being examined at present."
Amur Minerals shares were up 20% to 9.69 pence on Thursday, one of the best performers in the AIM All-Share.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.