LONDON (Alliance News) - Amur Minerals Corporation Friday said it has completed its 2013 exploration drilling programme at the Kubuk deposit in its Kun-manie project in the far east of Russia.
The Russia focused nickel-copper sulphide mineral exploration-and-development company said that the key achievement of the programme was a new 900 metre long deposit at Kubuk, where 26 out of 31 holes contained positive grades of nickel and copper.
The company said it has completed the diamond hole cores after a total of 6,001.7 metres of drilling and believes that there is substantial potential to increase the size of the deposit.
Amur Minerals said that the final analytical results for its last five drilled holes will be received shortly and the company will undertake an independent resource estimate for the newly defined deposit which could substantially expand the already large 531,700 tonne nickel and 145,500 tonne copper resource.
"This year's work alone may have identified a deposit that is larger than many deposits that our peers have spent years drilling. We look forward to the reporting the inaugural resource estimate at Kubuk once our final analytical results are available," Chief Executive Robin Young said in a statement.
The company is currently developing towards the achievement of its mining license in Russia and it has completed three out of four key applications towards this goal.
Amur Minerals shares were down 0.4% to 7.17 pence in early trading Friday.
To read an exclusive interview with Chief Executive Robin Young at Amur Minerals please see the URL below:
http://allapp.alliancenews.com/article?u=c26fbd13353a44cdbc0680f496df6f3b&a=1377786495195414500
By Tom McIvor; tommcivor@alliancenews.com; @TomMcIvor1
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Amur Minerals (AMC)