AMC.L Regulatory News (AMC)

18 Jul 2007 07:00

Amur Minerals Corporation18 July 2007 18 July 2007 Amur Minerals Corporation ("Amur" or "the Company") Kun-Manie's Kubuk Area - Confirmed Drill Target Amur Minerals Corporation (AIM: AMC) announces the trench results from the Kubukarea provided by Dalgeophysica. Detailed geological mapping has identified a series of three, possibly four,layered shallow dipping ultramafic sills located along the Krumkon Trend. Thearea is located four kilometres to the east of the Ikenskoe deposit. Anomalousrock chip samples as well as stream sediment samples indicate grades up to 1.0%nickel. Within one of the sills, two channel sampled trenches located about 170metres apart confirm the presence of nickel mineralisation similar to thatderived in the previous sampling programmes. Both trenches start and end inpotentially economic mineralisation indicating the zone could be thicker thansampled. Trench 11 contains 33.9 metres averaging 0.63% Ni and 0.17% Cu. Trench12 has a mineralised length of 11.0 metres at 0.51% Ni and 0.12% Cu. Robin Young, Amur's Chief Executive Officer, commented: "Our prospect generationteam continues to generate additional targets faster than we can drill them.Depending on this year's success on scout drilling at Yan Hegd, we may have todouble the number of rigs on site to keep up with our prospect generation teamwhile simultaneously continuing step out drilling between our existing drilleddeposits." The information contained in this announcement has been reviewed and approved bythe CEO of Amur, Robin Young. Mr. Young is a Geological Engineer (cum laude) andis a Qualified Professional Geologist, as defined by the Toronto and VancouverStock Exchanges. Enquiries: Amur Minerals Co-Broker Nomad and Public RelationsCorp. Co-Broker Fox-Davies Capital RBC Capital Parkgreen Limited Markets CommunicationsRobin Young Daniel Fox-Davies Andrew Smith Clare IrvineCEO Martin Eales +44 (0) 7981 +44 (0) 20 7936 5200 +44 (0) 20 7029 7881 +44 (0) 20 7851 7480126 818 Notes to Editors Detailed Summary Of Kubuk Trench Results An interval is considered to be mineralised when the nickel content is equal toor exceeds 0.10%. Examination of the detailed information below indicates bothtrenches begin and end in mineralisation. Trench From To Length Ni (%) Cu (%) K11 0.0 2.0 2.0 0.13 0.04 K11 2.0 2.8 0.8 0.85 0.23 K11 2.8 4.5 1.7 0.74 0.21 K11 4.5 6.0 1.5 0.66 0.17 K11 6.0 6.8 0.8 0.74 0.17 K11 6.8 8.2 1.4 0.30 0.07 K11 8.2 9.4 1.2 0.95 0.23 K11 9.4 10.9 1.5 0.90 0.21 K11 10.9 12.4 1.5 0.81 0.21 K11 12.4 13.9 1.5 0.73 0.23 K11 13.9 15.4 1.5 0.50 0.26 K11 15.4 16.9 1.5 0.77 0.21 K11 16.9 18.4 1.5 0.78 0.23 K11 18.4 19.9 1.5 0.82 0.23 K11 19.9 21.4 1.5 0.85 0.18 K11 21.4 22.9 1.5 0.67 0.18 K11 22.9 24.9 2.0 0.54 0.10 K11 24.9 26.9 2.0 0.77 0.17 K11 26.9 28.9 2.0 0.15 0.04 K11 28.9 30.9 2.0 0.67 0.17 K11 30.9 33.9 3.0 0.47 0.15 Mineralised Metres = 33.9 Average Ni (%) 0.63 Average Cu (%) 0.17 Trench From To Length Ni (%) Cu (%) K12 0.0 1.5 1.5 0.40 0.20 K12 1.5 3.0 1.5 0.66 0.13 K12 3.0 4.5 1.5 1.20 0.24 K12 4.5 6.0 1.5 0.62 0.11 K12 6.0 7.5 1.5 0.24 0.07 K12 7.5 9.0 1.5 0.19 0.04 K12 9.0 11.0 2.0 0.30 0.08 Total 11.0 0.51 0.12 Mineralised Metres = 11.0 Average Ni (%) 0.51 Average Cu (%) 0.12 About Amur Minerals Amur's principal asset is the 100% owned Kun-Manie exploration licence, anickel-copper deposit located in the Amur Province in the far east of theRussian Federation. The Kun-Manie licence area is approximately 950 km(2) and islocated 700 km northeast of the capital city of Blagoveshchensk and is 750kmnorth of the Chinese border. In April 2004 ZAO Kun-Manie, a wholly ownedsubsidiary of Amur, was granted a licence to explore for nickel and relatedmetals, including copper and platinum, in respect of the Kun-Manie licence. Work carried out to date on the Kun-Manie licence including diamond coredrilling, trenching and geological mapping has identified four mineralisedtargets; the Vodorazdelny, Ikenskoe, Maly Krumkon and Falcon zones, three ofwhich warrant further exploration as the limits of the mineralisation have notbeen identified. The four zones are located within a 15 kilometre long segmentof the 40 kilometre long Krumkon Trend. This trend is the primary explorationtarget within the licence area. An additional three targets identified asChornie Ispelene, Yan Hegd and Kubuk (also referred to as Ata) have beenidentified as additional drill targets. Chornie Ispelene and Kubuk lie withinthe trend whilst Yan Hegd is located approximately 8 kilometres to its north.Approximately 50% of the Krumkon Trend remains to be examined by reconnaissancework where existing Soviet data indicates potential exists to identifyadditional drill targets. Exploration drill results have been utilised by SRK Consulting to calculateresources. These include resources of the Measured, Indicated and Inferredcategories which have been estimated for the deposits of Vodorazdelny, Ikenskoeand Maly Krumkon. Effective January, 2007, the independently compiled ResourceEstimate consists of a total of 53.3 Mt at a mean grade of 0.48% nickel and0.14% copper containing 254,500 tonnes of nickel; and 73,000 tonnes of copper.This is summarised in the following table. SRK Consulting's 2006 Year End Resource Report =========== ======== ====== ====== ===== ======Orebody Tonnage Ni Ni Cu Cu (Mt) (%) (t) (%) (t)=========== ======== ====== ====== ===== ======VodorazdelnyIndicated 5.9 0.71 41,800 0.20 11,800 IkenskoeMeasured 3.7 0.61 22,700 0.16 5,800Indicated 26.8 0.42 111,300 0.12 32,700Sub-total 30.5 0.44 134,000 0.13 38,500Inferred 5.9 0.49 28,700 0.13 7,500Total Ikenskoe 36.4 0.45 162,700 0.13 46,000 Maly KrumkonInferred 11.0 0.45 50,000 0.14 15,200 Total Measured 3.7 0.61 22,700 0.16 5,800Total Indicated 32.7 0.47 153,100 0.14 44,500Total Inferred 16.9 0.47 78,700 0.13 22,700Grand Total 53.3 0.48 254,500 0.14 73,000----------- -------- ------ ------ ----- ------ Presently, Amur is compiling a prefeasibility study on the Kun-Manie Project tobe completed mid year 2007. Concurrently, work is also being conducted on theassembly of a report to be submitted to the State Committee on Reserves (GKZ).Upon approval, the GKZ shall issue a certificate of "Discovery". Thiscertification allows the Company to continue along the process of convertingportions of the exploration licence into a mining licence. Immediately to the east of the Kun-Manie licence and across the Amur Oblast andKhabarovsk Krai border, Amur has acquired the Kustakskaya Project. This 1,034square kilometre, 25 year exploration and production licence contains twogeological terrains. Each terrain contains a different mineralisation typetarget. The southern half of the licence is interpreted to be a continuation ofthe Krumkon Trend identified within the Kun-Manie exploration licence. Thenorthern half of the licence area contains Mesozoic granitic intrusives whereinhistorical Russian results indicate the potential for copper, cobalt and minornickel to be present. The Company will undertake field exploration of thislicence area in 2008 in accordance with the terms of the licence. Havingrecently acquired this licence, the Company places no value on this property. Amur also controls the Anadjakan gold-copper exploration licence in KharaborvskKrai near the well-infrastructured city of Elban. The Company chooses not toreport any value on this asset and in the process of undertaking the first yearof exploration wherein the 2007 exploration programme is designed to verifyhistorical results and define future drill targets. This information is provided by RNS The company news service from the London Stock Exchange