LONDON (Alliance News) - Nickel and copper sulphide miner Amur Minerals Corp said Thursday it has completed a total of 66 holes, or 10.81 kilometres, at the end of June, in its 20.30 kilometre drill programme at the Kun-Manie project, Russia.
Shares in Amur Minerals were up 11% at 4.15 pence on Thursday.
Infill drilling of areas within the deposits is well advanced, will drill work completed at the largest of the two deposits Maly Kurumkon and Ikenskoe, and is currently being implemented at Kubuk, with work at Vodorazdelny scheduled for later in the season.
The largest inferred resources at Kun-Manie is currently located at the southern limits of the Ikensoe ore deposit, estimated at 27.8 million tonnes containing 222,000 tonnes of nickel and 63,000 tonnes of copper and also contains the highest nickel grade in the project itself.
"Drilling continues apace, and we have now completed half of our planned programme for 2018, with over 10,000 of the 20,000 planned metres already being drilled. Drilling at two of the largest areas where infill drilling for Russian regulatory considerations was required, has already been completed and we are now drilling at Kubuk and are progressing well towards completing the infill effort there," said Chief Executive Officer Robin Young.
"We are seeing that the infill work and preliminary results are confirming the continuity of the grade and thickness of the deposits and anticipate that the final results will lead to a final approved Russian certified reserve and associated mine plan and production schedule," Young added.
Amur Minerals (AMC)