Amur Minerals Corporation Winter Ice Road Update (9147C)
24 March 2014 - 6:00PM
UK Regulatory
TIDMAMC
RNS Number : 9147C
Amur Minerals Corporation
24 March 2014
24 March 2014
AMUR MINERALS CORPORATION
(AIM: AMC)
Winter Ice Road Update
Amur Minerals Corporation ("Amur" or the "Company"), a
nickel-copper sulphide mineral exploration and resource development
company focused on the far east of Russia, is pleased to announce
that it has completed the construction of its 2014 winter ice road
from the Baikal - Amur rail siding to its Kun-Manie project. To
date, three of the planned five convoys have delivered more than
100 tonnes of fuel, spare parts and supplies to the site. The
annually constructed ice road covers a distance of approximately
350 kilometres.
A total of five convoys will deliver 120 tonnes of winter and
summer fuel, and over 35 tonnes of supplies and spare parts to the
site to support future field work programmes and activities. Upon
completion of this year's ice road restock, all mobile equipment at
the site will undergo a comprehensive maintenance programme
bringing the fleet to a fully operational status. This is
undertaken annually.
During the return trip from the site, the convoy will also
transport six tonnes of core and samples accumulated during the
2013 field season to our Verkhnezeisk base camp rail station.
Delivery of the previous field season's core and samples via the
ice road costs the Company substantially less money than helicopter
transport which is limited to a maximum of two and a half tonnes
per trip. The core and samples obtained during 2013 have already
been analysed by Alex Stewart Laboratories ("ALS"), results of
which have been used in the determination of the JORC resource
estimates provided by SRK Consulting ("SRK") and have been reported
in the Company's 30 July 2013 and 9 December 2013
announcements.
Once all the 2013 core and samples are marshalled at
Verkhnezeisk along with 12.5 tonnes of core and samples from 2012
already inventoried at the base camp, the total of 18.5 tonnes of
core and sample material will be transported by truck to Khabarovsk
for storage in the Company's secured facilities. Upon completion of
this transport of the core and samples, all mineralised intervals
drilled during the last ten years will be available in Khabarovsk.
This provides year round access to all core and samples which is
among one of the more valuable assets of Company. The availability
of the core at the headquarters allows for additional detailed
investigation and research into the mineralogical and metallurgical
character of the mineralisation at Kun-Manie.
Presently, the Company is evaluating the mineability of the
drilled defined mineralisation allowing the Company to determine
specific in fill drill requirements on the five drill defined
mineral deposits. Results will assist in defining specific drill
site locations and the drill pad construction requirements
necessary to convert resources into reserves. Based on the mining
assessment, activities related to the field operations at Kun-Manie
will be specified in greater detail.
Robin Young, CEO of Amur Minerals, commented:
"Annually we undertake the construction of the winter ice road
which is the most highly cost effective way to access the project
site allowing the Company to restock the project and transport core
and geological samples to our base camp located on the Baikal Amur
rail system and ultimately to Khabarovsk. This year's restock is
targeting a maintenance programme that will allow us to fully
maintain our mobile equipment at the site and prepare for any field
work to be conducted over the course of this next field season and
potentially into the 2015 summer programme.
"These efforts represent our objectives for this year as we
focus on completing additional engineering works designed to
further de-risk and optimise the project.with our primary target
being to obtain the mining licence."
Enquiries:
Company Nomad and Broker Public Relations
Amur Minerals S.P. Angel Corporate Finance Yellow Jersey
Corp. LLP
Robin Young CEO Ewan Leggat Dominic Barretto
Laura Littley Kelsey Traynor
+44 (0) 7981 126 +44 (0) 77 6853
818 +44 (0) 20 3463 2260 7739
Notes To Editors:
Amur Minerals Corporation (AMC) is a developing mineral
exploration company focused on base metal projects in the far east
of Russia. The Company's principal asset is the Kun-Manie sulphide
nickel, copper project located in Amur Oblast, with JORC resources
in excess of an 830,000 nickel equivalent tonnes and a positive
independently compiled prefeasibility study ("PFS) by SRK
Consulting Ltd ("SRK"). During the last ten years, five deposits
have been identified and drilled at Kun-Maine. The mineral
inventory contains Measured, Indicated and Inferred resources
totaling 120.8 million tonnes with an average grade of 0.54% nickel
and 0.15% copper. The total contained tonnage of nickel is
estimated to be 650,600 tonnes with copper being 178.400 tonnes.
This equates to 1.4 billion pounds of contained nickel and 0.4
billion pounds of copper. A total of 16.9 tonnes of platinum and
18.0 tonnes of palladium are also present as by product metals.
In 2007, a positive prefeasibility study ("PFS") was compiled by
SRK Consulting Ltd ("SRK") wherein capital and operating costs
estimates were compiled and an NPV of $US 84 million (10% discount
rate) was determined. The design of the project was based on three
drilled deposits identified at that time. Three open cast mines
would provide sulphide ore to a conventional flotation mill
designed to beneficiate 4.0 million tonnes of ore per annum. In
order to construct, supply and maintain the operation, a 320
kilometre long access road from the nearest rail station on the BAM
rail line to the east where the proposed mine is to be located. The
road must be completed to permit the construction of the operation
as well as resupply the site. The road would also be utilised to
transport saleable concentrates to the rail system for ultimate
delivery to a smelter located 5,300 kilometres distant.
Presently the Company is undertaking a comprehensive review of
the project which includes the update of operating and capital
costs, new decreases tax and royalty rates, improved metallurgical
recoveries, updated resources, mine designs and infrastructure
development alternatives.
For more information on the Company and its project, see its
website at www.amurminerals.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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