AMC.L Regulatory News (AMC)

12 Nov 2007 07:00

Amur Minerals Corporation12 November 2007 12 November 2007 Amur Minerals Corporation ("Amur" or "the Company") Potential significant expansion of the Kun-Manie resource Amur Minerals Corporation (AIM: AMC), an exploration and development companyfocused on East Russia, is pleased to announce its first comprehensive set ofdrilling results for 2007 on the Kun-Manie nickel copper project. These very positive results have been derived exclusively from a programme ofstep out and infill core drilling at the Maly Krumkon deposit. The drillprogramme was designed to both expand upon and upgrade the previously reportedJORC-compliant Inferred Resource to an Indicated Resource. The increasedthickness indicated by the drilling could result in a more than doubling of theresource at Maly Krumkon. The drilling results indicate the following: •The average thickness of the 700 metre long drilled area has been increased from 21 metres to 30 metres, in true thickness. This is an increase of approximately 50% over the 2006 drill results; •The average drill intercept grades for this area are 0.53% Nickel, 0.15% Copper and 0.011% Cobalt respectively; and •The core area of the Maly Krumkon deposit contains a pod of mineralisation that is 300 metres in length and has a true thickness in excess of 45 metres, with its central core approaching 60 metres in thickness. The average depth to the top of this pod is 61 metres. Robin Young, Amur's Chief Executive Officer, commented: "The drill programme has confirmed the continuity of the Maly Krumkonmineralisation and identified a very thick pod of mineralisation at its centre.This bulge alone is larger than the entire Vodorazdelny deposit at Kun-Manie,and has significant implications for the project economics. "Following the significant increase in the scale of the deposit, the Board iscurrently reviewing whether the development of the Maly Krumkon deposit ahead ofthat at Ikenskoe will enhance the overall potential of the Kun-Manie project." "A new resource estimate is being compiled that is expected to show asignificant increase over last year's Maly Krumkon estimate of 11.0 milliontonnes of Inferred resource containing 50,000 tonnes of nickel. 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 Bankside Limited MarketsRobin Young Daniel Fox-Davies Andrew Smith Michael PadleyCEO Martin Eales +44 (0) 7981126 818 +44 (0) 20 7936 5200 +44 (0) 20 7029 +44 (0) 20 7367 7881 8881 Details of drill programme Kun-Manie Drill Exploration Summary The global 2007 exploration drill programme was designed to accomplish threeobjectives. These included resource expansion, in fill drilling and condemnationdrilling. The programme's broad scope reflects the variously advanced drillstages on the three deposits from which the Company is reporting resources.Specific to this release, the Maly Krumkon programme falls within the resourceexpansion phase. The Maly Krumkon deposit is the furthest west of the three deposits from whichthe Company reports resources at Kun-Manie, its flagship project. The zone canbe observed in outcrop over a linear distance approaching three kilometres.Based on geological mapping, limited trenching and a total of 14 drill holesfrom which analytical results are available, Maly Krumkon dips from 25 to 65degrees to the northeast and strikes approximately 70 degrees northwest. The 2007 resource expansion programme targeted the area between the two drillsections completed in 2006, which were located approximately 700 metres apart.The four holes from 2006 indicated the true thickness of the mineralisation wasin the order of 21 metres averaging 0.57% Ni and 0.16% Cu. Results for the 10holes have significantly upgraded the resource and its potential. Thecomprehensive drill data set now indicates that the average true thickness ismore than 30 metres and the average nickel and copper grades are 0.53% and0.15%, respectively. Detailed results follow and are presented by drill sectionlocation. Drilling Results Drill Section 1 Hole From To Length True Ni % Cu % Co % Vertical Vertical Thickness Depth To Stripping Ore (m) Ratio (m) (m) (m) (m) C101 9.4 36.9 27.5 24.1 0.41 0.14 NA 9 0.4 C141 41.5 63.5 22.0 20.4 0.65 0.21 0.012 44 2.2 C102 82.6 108.7 26.1 22.2 0.58 0.16 0.010 83 3.7 C142 146.3 147.8 1.5 1.3 0.17 0.02 0.004 150 117.6 Holes 4 17.0 0.53 0.17 0.011 72 4.2 Drill Section 2 - Located 100 Metres West Of Drill Section 1 Hole From To Length True Ni % Cu % Co % Vertical Vertical Thickness Depth To Stripping Ore (m) Ratio (m) (m) (m) (m) C143a 13.2 70.5 57.3 28.7 0.69 0.19 0.014 13 0.5 C144 72.1 104.7 32.6 31.8 1.65 0.39 0.026 70 2.2 C144a 89.4 116.7 27.3 21.3 0.51 0.16 0.010 85 4.0 Holes 3 27.3 1.01 0.26 0.019 56 2.1 Drill Section 3 - Located 200 Metres West Of Drill Section 2 Hole From To Length True Ni % Cu % Co % Vertical Vertical Thickness Depth To Stripping Ore (m) Ratio (m) (m) (m) (m) C146 30.2 97.4 67.2 64.3 0.42 0.12 0.010 26 0.4 C147 133.7 216.1 82.4 57.1 0.62 0.13 0.012 113 2.0 Holes 2 60.7 0.51 0.13 0.011 70 1.1 Drill Section 4 - Located 180 Metres West Of Drill Section 3 Hole From To Length True Ni % Cu % Co % Vertical Vertical Thickness Depth To Stripping Ore (m) Ratio (m) (m) (m) (m) C148 14.8 68.5 53.7 39.2 0.41 0.15 0.009 15 0.4 C149 54.5 109.5 55.0 37.3 0.71 0.20 0.014 49 1.3 C150a 106.6 180.9 74.3 39.2 0.25 0.09 0.006 102 2.6 Holes 3 38.6 0.45 0.15 0.011 55 1.4 Drill Section 5 - Located 90 Metres To West Of Drill Section 4 Hole From To Length True Ni % Cu % Co % Vertical Vertical Thickness Depth To Stripping Ore (m) Ratio (m) (m) (m) (m) C105 23.6 81.5 57.9 29.8 0.68 0.17 0.011 10 0.3 C103 Results Available In December 2007 C106 173.1 186.1 13.0 7.7 0.66 0.18 0.009 173 22.5 Holes 2 18.8 0.67 0.17 0.010 92 4.9 Total 14 30.3 0.53 0.15 0.011 67 2.2 N.B. The results from Drill Sections 3 and 4. This information indicates that a very thick pod of mineralisation covering anarea approaching 300 metres in length. It is also located in a ridge that waspreviously interpreted to be mostly waste. This provides the Company with a newopportunity of improved economics within the open pit mining scenario envisionedfor this deposit which is one of three containing reportable resources. ENDS This information is provided by RNS The company news service from the London Stock Exchange