LONDON (Alliance News) - Amur Minerals Corp Tuesday said an independent resource update of the Ikenskoe/Sobolevsky nickel-copper deposit in Russia shows an increase in the measured, indicated and inferred resource at the deposit.
The update was approved and completed by SRK Consulting (UK) Ltd. The measured, indicated and inferred resource consists of 35.3 million ore tonnes, increased from its previous statement in July 2013 when it was 34.1 million tonnes, averaging 0.51% nickel per tonne, and 0.13% copper.
Total nickel metal is 180,800 tonnes with copper totalling 47,100 tonnes. Byproduct platinum totals 5,900 kilograms with paladium totalling 6,700 kilograms.
The combined measured and inferred resource inventory has been "significantly upgraded" due to modelling thicker zones overall, Amur said, and the measured and inferred inventory now consists of 29.4 million ore tonnes, up from 22.6 million, averaging 0.46% nickel, down from 0.47%.
Ikenskoe/Sobolevsky remains the second largest of five deposits identified at Amur's Kun-Manie project in Russia. The updated consolidated resource for all five deposits is 159.6 million ore tonnes, Amur said.
The company said that enhancements identified with the Ikenskoe/Sobolevsky resource model provide it with an opportunity to define a larger and higher-grade reserve inventory from within the second largest deposit at Kun-Manie. This model will be used in the definition of reserves and mine planning purposes in its ongoing definitive feasibility study, it said,
Shares in Amur Minerals were trading flat at 4.90 pence Tuesday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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Amur Minerals (AMC)