Last checked at 3 Sep 2012 07:00
3 September 2012 |
AMUR MINERALS CORPORATION
(AIM : AMC)
Drilling At Maly Kurumkon Expands Deposit
Amur Minerals Corporation ("Amur" or the "Company") is pleased to announce highly positive results from the first stage of its 2012 drill programme at the Kun-Manie nickel-copper sulphide project located in far east Russia. Analytical results have been received for four holes drilled at the eastern limits of the Maly Kurumkon target area. The holes are located approximately 100 metres to the east of existing drill holes within the Maly Kurumkon open pit plan. This area is also immediately adjacent to the Flangovy target, which is projected to have a strike length approaching an additional 1,000 metres. On going drilling is presently being undertaken within the Flangovy area to determine if the mineralisation continues to the east. The results indicate the following:
·; Three of the four holes intersected economic grades of nickel and copper mineralisation within the pyroxenite host rock that outcrops on the surface and is interpreted to extend up to 300 metres down dip. The nickel and copper mineralisation is concentrated at the hanging and footwall contacts of the zone.
·; The average nickel and copper grades are 0.77% and 0.24%, respectively using a 0.20% nickel cutoff grade. These grades are 35% higher for nickel and 50% higher for copper than that which was intersected in the existing drill holes located 100 metres to the west. Furthermore, the average thickness intersected in the newly drilled section is approximately 19 metres in true thickness; nearly 20% greater than existing holes to the west.
·; Substantial thicknesses of +1.0% nickel have been intersected within the new drill holes. The high grade intercept thickness is 2.9 metres and contains 1.24% nickel with 0.36% copper.
These results confirm the geological interpretation that the mineralisation could continue from the Maly Kurumkon deposit toward the Flangovy target to the east. The Flangovy target is interpreted to be an extension of the Maly Kurumkon deposit. Successful drilling at Flangovy could result in a total mineralised length of nearly two kilometres. This could significantly increase the resource base of the project.
A portion of the newly drilled mineralisation lies within the already planned Maly Kurumkon pit within rock that previously had been categorised as waste due to a lack of information. The inclusion of this new drill data to update resource and open pit reserve modeling of Maly Kurumkon will be undertaken when results of current drilling are available from the adjacent Flangovy target. The newly discovered higher grades of ore are of a level which indicates underground mining may prove economic. As a result, the Company may need to consider deeper drill programmes in the areas below and adjacent to potential open pit operations to confirm the potential for underground operations.
The results of the mineralised intervals are provided in the following table. A location map of the drill holes completed at Maly Kurumkon and the planned Flangovy drill hole locations as well as two drill sections illustrating the current results are included as a part of this announcement and can be viewed on the Company's website www.amurminerals.com.
Maly Kurumkon Exploration Drill Intercepts
Drill Hole | Intersection Data 0.20 Ni Cut Off Grade (COG) | Intersection Data 1.00% Ni COG | ||||||
From (m) | To (m) | Length (m) | Nickel (%) | Copper (%) | Length (m) | Nickel (%) | Copper (%) | |
C197 | 15.1 | 21.2 | 6.1 | 0.46 | 0.14 | |||
C197 | 40.1 | 46.8 | 6.7 | 1.07 | 0.48 | 3.1 | 1.38 | 0.55 |
C197 | 50.0 | 62.6 | 12.6 | 0.73 | 0.26 | 3.5 | 1.00 | 0.34 |
C198 | 57.8 | 68.8 | 11.0 | 0.68 | 0.20 | 4.7 | 1.30 | 0.37 |
C198 | 76.0 | 84.5 | 8.5 | 0.84 | 0.20 | 1.7 | 1.80 | 0.42 |
C199 | 99.9 | 105.1 | 5.2 | 0.95 | 0.22 | 2.7 | 1.07 | 0.24 |
C199 | 116.3 | 123.7 | 7.4 | 0.78 | 0.19 | 1.5 | 1.01 | 0.16 |
Average | 8.2 | 0.77 | 0.24 | 2.87 | 1.24 | 0.36 | ||
\* The reported average nickel and copper grades are not precise due to rounding.
In addition and of potential significance, further examination of available exploration data and additional surface results to the west of the Maly Kurumkon pit target indicates that the deposit may also extend to the west for an additional 500 metres providing an even larger potential source of mineralisation. This West Maly Kurumkon area requires additional drilling in the future.
Robin Young, CEO of Amur Minerals, commented:
"We are extremely pleased to announce these first drill results from our 2012 drill season. These substantially higher intersected grades at Maly Kurumkon provide us with further potential to increase the resource base in both tonnage and grade. This, along with the introduction of higher grade material earlier in the operation's life of the mine could improve the mine production plan enhancing the overall economics of the project."
Enquiries:
Company Amur Minerals Corp. | Nomad and Joint Broker RBC Capital Markets | Joint Broker Merchant Securities | Public Relations Tavistock Communications |
Robin Young CEO | Martin Eales | Lindsay Mair | Jos Simson / Jessica Fontaine |
+44 (0) 79 8112 6818 | +44 (0) 20 7653 4000 | +44 (0) 20 7628 2200 | +44 (0) 20 7920 3150 |
Notes to Editor
Attached and available for view on www.amurminerals.com, is a plan map of the Maly Kurumkon / Flangovy area and two drill sections of the results derived at Maly Kurumkon.
The information contained in this announcement has been reviewed and approved by the CEO of Amur, Robin Young. Mr. Young is a Geological Engineer (cum laude) and is a Qualified Professional Geologist, as defined by the Toronto and Vancouver Stock Exchanges.
The analysis of the drill samples was conducted by ALS Global (www.alsglobal.com/company.aspx ) located in Moscow, Russia.