LONDON (Alliance News) - Amur Minerals Corp on Wednesday said August drilling at its Kun-Manie nickel copper sulphide project in Russia has connected the two key orebodies.
Shares in the mining company were up 5.7% at 4.20 pence on Wednesday afternoon.
In total, 7,969 metres of drilling was conducted over 29 holes, bringing the season total to 26,235 metres over 143 holes. This reduced the barren zone at Kun-Manie, which Amur said had been "inadequately drilled", and joined the Ikenskoe/Sobolevsky and Kubuk orebodies.
Two of the three high-priority targets at kun-Manie have now been drilled, with Ikenskoe/Sobolevsky expanded to the northeast and southeast and its deposit size increased by 81%.
"We now know there is a near 2,800 metre long, pervasively mineral horizon along the strike of a part of the Ikenskoe/Sobolevsky - Kubuk trend. Drilling indicates this is about a 35.6 metre thick horizon and contains an average of 0.83% nickel and 0.25% copper," said Amur Minerals Chief Executive Robin Young.
"It is anticipated these results will have a material impact on the mineral resource estimate, the mining ore reserve, optimisation of the production schedule and the projected economic potential of Kun-Manie. It is a rare achievement that a month of drilling can have such an overall potential impact on a project," Young added.