TIDMAMC
RNS Number : 2452K
Amur Minerals Corporation
06 July 2017
06 July 2017
AMUR MINERALS CORPORATION
(AIM: AMC)
2017 Maiden Kubuk Drill Update
Amur Minerals Corporation ("Amur" or the "Company"), a
nickel-copper sulphide mineral exploration and resource development
company focused on its Kun-Manie project in the Russian Far East,
is pleased to report its 2017 maiden set of drill results for the
Kubuk ("KUB") deposit.
Included are all results for the period from 5 May 2017 through
30 June 2017. Infill drilling, to convert existing JORC Inferred
resource to Indicated, has been completed, mineral dip limit
determination at depth has been completed to define the potential
deep limits of mining and resource expansion drilling has been
successfully initiated.
Highlights:
-- Resource expansion at KUB has thus far been successful and an
additional total of 300 metres of mineralised length in excess of
0.4% nickel and at a minimum thickness of 3.0 metres has been
identified within six drill holes. Additional ore has been
identified at both the eastern limit ("LK") (100 metre extension)
and at the western limit ("BK") (200 metre extension) of the KUB
JORC resource.
-- The 200 metre westernmost extension of the BK target is
located within the 2,500 metre long undrilled target linking the
KUB and Ikenskoe / Sobolevsky ("IKEN") deposits. Four holes
averaging 19.8 metres in thickness, 0.80% nickel and 0.21% copper
have been completed. A fifth hole is presently under analysis by
Amur's site sample preparation facility and substantial sulphide
mineralisation is present indicating likely economic grades of
nickel and copper are present.
-- Additional resources have also been identified at the LK
target for a distance of an additional 100 metres eastward from the
KUB deposit in the direction of a 1.0 kilometre long eastern
target. Limited drilling indicates mineralisation of 3.8 metres
averaging 1.02% nickel and 0.28% copper. Substantial nickel and
copper anomalies based on geochemical sampling and trenching within
the remaining 900 metres of the eastern target remain untested,
representing additional expansion potential.
-- Infill drilling of the currently defined Inferred Mineral
Resource Estimate of 10.9 million tonnes averaging 0.74% nickel and
0.20% copper has been completed. Eight infill holes have defined an
average of 0.80% nickel and 0.27% copper at an average thickness of
22.6 metres per ore hole. The infill drilling is intended to
convert the Inferred resource to Indicated.
-- Drilling along the northern limit of the MRE model has been
completed to define the potential mining limits of the
mineralisation at depth. Six holes have been completed and the down
dip limits of the mineralisation have been identified by four of
the six holes. The two holes that intersected mineralisation
indicated an average thickness of 7.0 metres per ore hole with
grades of 0.74% nickel and 0.18% copper. Additional limited
drilling may be required to fully establish the deeper limits of
the economic mineralisation.
-- Resource expansion drilling at KUB is currently the primary
drill objective with metallurgical drilling planned for later in
this year's drill campaign.
-- All reported analytical results have been internally derived
using Niton XL2 500 X-Ray Fluorescence units ("RFA"). Final
independently generated Alex Stewart Laboratory ("ASL") results
will supplant the RFA results and will be the source of information
for future resource estimates. Two batches of samples have been
transported from the project site with the first delivered to ASL
and now under analysis. The second batch of samples is in transit
from Khabarovsk to Moscow.
The drill programme at KUB has been undertaken in a phased
approach with the initial focus on defining the limits of the
mineralisation at depth along a 600 metre long area and the
completion of infill drilling to convert Inferred resource to
Indicated.
Having successfully completed these two objectives, drilling is
now focused on resource expansion on two KUB targets (BK and LK),
which remain to be drill tested. The largest target (BK) is the
trend between the IKEN and KUB deposits totaling 2,500 metres in
length with the second target (LK) being a kilometre in length
located immediately to the east of KUB. Drilling is now being
conducted in a step out basis from both IKEN and KUB. Approximately
1,800 to 2,000 meters remain to be drilled to determine if the IKEN
and KUB are one larger deposit approaching five kilometres in
length. Successful drilling along this target could result in the
combined length of KUB and IKEN forming the largest deposit at
Kun-Manie.
Robin Young, CEO of Amur Minerals, commented:
"Ralph Waldo Emerson stated, "Do not go where the path may lead,
go instead where there is no path and leave a trail." This quote
characterises this year's drill programme at Kun-Manie. Our new
trail for resource expansion is now in full swing at our Kubuk and
Ikenskoe / Sobolevsky deposits. We are drill testing the largest
target with a length of 2,500 metres located between the two
deposit, similar to the approach which was successfully implemented
at the Maly Kurumkon / Flangovy deposit. Our drilling along this
target could ultimately result in the linking up of the two
deposits, creating a single deposit up to five kilometres in length
and thus, making it the longest single deposit at Kun-Manie.
Successful drilling could well result in a substantial increase in
both the resource and reserve.
"Working in the steepest and most challenging terrain at
Kun-Manie, our new trail is comprised of drill roads and drill pads
that are being constructed along the length of this target. Both
drill rigs are now drilling some of the deepest holes on site as we
follow newly defined mineralisation outward in incremental
steps."
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
Enquiries:
Company Nomad and Broker Public Relations
Amur Minerals S.P. Angel Corporate Yellow Jersey
Corp. Finance LLP
Robin Young Ewan Leggat Charles Goodwin
CEO Soltan Tagiev Harriet Jackson
+44(0)7544
+7(4212)755615 +44(0)2034 700 470 275 882
For additional information, visit the Company's website,
www.amurminerals.com.
Please follow the links at the end of this RNS to view figures
depicting drill hole locations and available RFA drill results
completed as at 30 June 2017.
Notes to Editors
The information contained in this announcement has been reviewed
and approved by the CEO of Amur, Mr. Robin Young. Mr. Young is a
Geological Engineer (cum laude), a Professional Geologist licensed
by the Utah Division of Occupational and Professional Licensing,
and is a Qualified Professional Geologist, as defined by the
Toronto and Vancouver Stock Exchanges. An employee of Amur for 13
years, previously Mr. Young was employed as an exploration and mine
geologist, mining engineer, construction manager of a mine startup
as well as independent consultant with Fluor Engineers, Fluor
Australia and Western Services Engineering, Inc. during which time
his responsibilities included the independent compilation of
resources and reserves in accordance with JORC standards. In
addition, he has been the lead engineer and project manager in the
compilation of numerous studies and projects requiring the
compilation of independent Bankable Studies utilised to finance
small to large scale projects located worldwide. Mr. Young is
responsible for the content of this announcement which includes
results reported by Runge Asia Ltd ("RPM").
For further information, see the Company website at
www.amurminerals.com.
2017 Kubuk Drill Programme Objectives
During the season, 4 drill objects are planned for completion at
KUB. These include:
-- Definition of the mineralised limits at depth and near the
outcrop allowing for the determination of potential mining limits
at KUB. Based on the 10 February 2017 Runge Asia ("RPM") defined
Mineral Resource Estimate ("MRE") limits, the potential resource
limits have been defined along the northern limit over a 600 metre
length. Completed.
-- Infill drilling allowing for the conversion of existing
Inferred resources to Indicated. The area where infill drilling has
been completed contains 10.9 million Inferred ore tonnes averaging
0.74% nickel and 0.20% copper. Completed.
-- Resource expansion at two targets referred to as BK and LK.
The largest target is BK and has a total target length of 2,500
metres, located between the IKEN and KUB deposits. Presently, BK is
being drilled using a step out approach in the westward direction
from KUB and in the eastward direction from IKEN. The LK target is
a 1,000 metre long area which lies to the east of the KUB resource
model. In Progress.
-- Obtain additional metallurgical sample for use in process flowsheet determination. Planned.
Global Drill Progress to Date
As of 30 June 2017, a total of 8,548.8 metres have been drilled
at both KUB and IKEN. A total of 41 holes representing
approximately 43% of the total 2017 budgeted metres (20,000 metres)
have been completed.
Kubuk Drill Progress
From 5 May 2017 through 30 June 2017, the Company's LF90 Boart
Longyear rig has drilled 4,685.0 metres of NQ diameter core within
21 holes at KUB averaging 223.1 metres per hole. (The Company's
LF70 continues drilling at IKEN) A plan map of the KUB drill hole
locations is provided in a link at the end of this RNS.
Kubuk Drill Summary by Objective
Drill Objective Holes Total Average Length
Metres (m)
-------------------------- ------ --------- ---------------
Mineral Limit Definition 6 1,462.0 243.7
Infill Definition 8 1,148.0 143.5
Resource Expansion 7 2,075.0 296.4
Metallurgical Sample 0 0.0 0.0
Collection
-------------------------- ------ --------- ---------------
Total 21 4,685.0 223.1
-------------------------- ------ --------- ---------------
Definition of Mineralisation
The Company MRE's are based on a 0.4% nickel only cutoff grade
("COG") at a minimum potential mining thickness of 3.0 metres. The
reported analytical results and mineralised intervals within this
RNS are based on these criteria. Internal waste (<0.4% nickel
and less than 3.0 metres) is also included in the determination of
reported thickness and grades of the contained metal. By inclusion
of this internal waste, a more accurate representation of potential
mining grades is provided.
Mineral Limit Drill Results
A 600 metre length of the KUB deposit has been drilled to
identify the mineralised limits delineated by the 10 February 2017
RPM Mineral Resource Estimate ("MRE") for the purpose of
determining the mine production limits. Of the 6 holes, only two
intersected mineralisation. The two mineralised holes contain an
average of 7.0 metres of mineralisation with a nickel grade of
0.74% and a copper grade of 0.18%. Additional drilling in the
vicinity of these two holes may be implemented later in the season.
A comprehensive hole by hole summary is provided in the link at the
end of this RNS.
Average Drill Results
Mineral Limit Determination
Hole From To Length Ni Cu
ID (m) (m) (m) (%) (%)
--------- ------------- ----- ------ ----- -----
449 No Ore
--------- ------------------------------------------
450 No Ore
--------- ------------------------------------------
454 238.0 243.0 5.0 0.80 0.16
--------- ------------- ----- ------ ----- -----
455 No Ore
--------- ------------------------------------------
C456 92.3 95.3 3.0 0.97 0.14
--------- ------------- ----- ------ ----- -----
100.0 103.0 3.0 0.40 0.07
--------- ------------- ----- ------ ----- -----
184.0 187.0 3.0 0.77 0.37
--------- ------------- ----- ------ ----- -----
C460 No Ore
--------- ------------------------------------------
7.0
m
Average 3.5 m Per 14.0
or Total Per Interval Hole m 0.74% 0.18%
--------- ------------- ----- ------ ----- -----
Infill Drill Results
The KUB deposit contains 14.5 million resource tonnes at an
average grade of 0.77% nickel and 0.20% copper. Of this, the
majority of the resource is classified as Inferred resource by JORC
(Dec 2012) standards. Approximately 10.9 million Inferred tonnes
have been estimated by RPM at the average grades of 0.74% nickel
and 0.20% copper.
Kubuk MRE Summary
Resource Ore Ni Cu Co Pt Pd Eq Contained Metal (t)
Classification Mt % % % g/t g/t Ni
(%)
---------------- ----- ----- ----- ------ ----- ----- ----- -------------------------------------------------------
Ni Cu Co Pt Pd Eq
(1000's) (1000's) (1000's) (t) (t) Ni
(1000's)
---------------- ----- ----- ----- ------ ----- ----- ----- --------- --------- --------- ---- ---- ----------
Measured -
---------------- ----- ----- ----- ------ ----- ----- ----- --------- --------- --------- ---- ---- ----------
Indicated 3.6 0.87 0.21 0.016 0.18 0.19 1.17 31 8 0.6 0.6 0.7 41.6
---------------- ----- ----- ----- ------ ----- ----- ----- --------- --------- --------- ---- ---- ----------
M+I 3.6 0.87 0.21 0.16 0.18 0.20 1.17 31 8 0.6 0.6 0.7 41.6
---------------- ----- ----- ----- ------ ----- ----- ----- --------- --------- --------- ---- ---- ----------
Inferred 10.9 0.74 0.20 0.015 0.16 0.14 1.00 81 22 1.7 1.7 1.5 109.5
---------------- ----- ----- ----- ------ ----- ----- ----- --------- --------- --------- ---- ---- ----------
KUB TOTAL 14.5 0.77 0.20 0.016 0.16 0.15 1.04 112 30 2.3 2.3 2.2 149.5
---------------- ----- ----- ----- ------ ----- ----- ----- --------- --------- --------- ---- ---- ----------
Infill drilling of 8 holes has been completed, all of which have
intersected mineralisation. The average thickness per hole is 22.6
metres at an average nickel grade of 0.80% and copper being 0.27%.
The drill results replicate the estimated MRE grades for the
Inferred category and the Company believes that the infill drill
programme will upgrade a substantial portion of the Inferred
resource to that of Indicated.
Average Drill Results
Infill Drill Results
Hole From To Length Ni Cu
ID (m) (m) (m) (%) (%)
--------- ------------- ----- ------ ----- -----
446 6.8 37.7 30.9 0.82 0.25
--------- ------------- ----- ------ ----- -----
447 40.5 47.2 6.7 0.86 0.22
--------- ------------- ----- ------ ----- -----
448 82.0 98.3 16.3 0.88 0.22
--------- ------------- ----- ------ ----- -----
451 200.2 228.3 28.1 0.62 0.35
--------- ------------- ----- ------ ----- -----
452 196.7 214.0 17.3 0.85 0.28
--------- ------------- ----- ------ ----- -----
219.4 251.2 31.8 0.82 0.27
--------- ------------- ----- ------ ----- -----
C457 58.6 61.6 3.0 0.60 0.15
--------- ------------- ----- ------ ----- -----
125.0 131.0 6.0 0.81 0.35
--------- ------------- ----- ------ ----- -----
C461 61.0 64.0 3.0 0.43 0.12
--------- ------------- ----- ------ ----- -----
C462 55.1 70.0 14.9 1.05 0.23
--------- ------------- ----- ------ ----- -----
22.6
17.6 m
Average m Per 158.0
or Total Per Interval Hole m 0.80% 0.27%
--------- ------------- ----- ------ ----- -----
Resource Expansion Drill Results
The recently initiated resource expansion phase at KUB has
generated positive results. Additional resources have been drill
identified immediately adjacent the RPM resource model limits in
both the east (LK) and west (BK) directions.
At the west end of KUB, geochemical and geophysical results
indicate the mineralisation could continue to the west for an
additional 2,500 metres. Referred to as the BK target, four holes
have been completed confirming the presence of mineralisation down
dip of previous drill holes (completed in 2013) along a length of
approximately 400 metres. Averaging 19.8 m per hole, the
mineralisation is projected to be 0.80% nickel and 0.21% copper.
Step out drilling for BK resource expansion presently ongoing.
BK Expansion Drill Results
Hole From To Length Ni Cu
ID (m) (m) (m) (%) (%)
--------- ------------- ----- ------ ----- -----
453 314.9 329.1 14.2 1.03 0.22
--------- ------------- ----- ------ ----- -----
335.8 338.8 3.0 0.59 0.31
--------- ------------- ----- ------ ----- -----
C463 386.0 389.0 3.0 0.69 0.24
--------- ------------- ----- ------ ----- -----
C464 277.0 290.5 13.5 0.58 0.18
--------- ------------- ----- ------ ----- -----
332.5 335.5 3.0 0.44 0.21
--------- ------------- ----- ------ ----- -----
C465 295.6 308.8 13.2 1.07 0.22
--------- ------------- ----- ------ ----- -----
322.0 351.4 29.4 0.73 0.20
--------- ------------- ----- ------ ----- -----
19.8
m
Average 11.3 m Per 79.3
or Total Per Interval Hole m 0.80% 0.21%
--------- ------------- ----- ------ ----- -----
A fifth hole was completed within the BK target prior to 30 June
2017. However, RFA results were not available for inclusion in this
RNS. Substantial sulphide mineralisation has been noted in this
hole (C466), which usually indicates economic grades of nickel, and
copper are present.
To the east is the LK target which has been defined based on
geochemical sample results and exposures within trenches. Having a
total target length of 1,000 metres, drilling has confirmed
mineralisation continues for an additional 100 metres averaging
1.02% nickel and 0.28% copper. The average thickness identified in
the two holes is projected to be 3.8 metres. A total of 900 metres
remain to be drilled.
LK Expansion Drill Results
Hole From To Length Ni Cu
ID (m) (m) (m) (%) (%)
---------- ------------- ----- ------ ----- -----
C458 46.5 51.0 4.5 0.73 0.16
---------- ------------- ----- ------ ----- -----
C459 30.2 33.2 3.0 1.45 0.47
---------- ------------- ----- ------ ----- -----
3.8
m
Average 3.8 m Per 7.5
or Total Per Interval Hole m 1.02% 0.28%
---------- ------------- ----- ------ ----- -----
Status of ASL Analytical Results
Analytical results reported within this RNS are internally
generated by the Company using two Niton XL2 500 X-Ray Fluorescence
units ("RFA"). The Company considers these RFA results to be
preliminary in nature (within 5%). The RFA results will be replaced
by independently verified ASL results, which are used in the
derivation of MRE's. To date, all reported 2017 results are RFA
based. Two batches of samples have been shipped to ASL with the
first batch delivered on 28 June 2017 and laboratory testwork now
underway. The second batch of samples is presently in transit to
Moscow, Russia. ASL results will be reported when available.
Alex Stewart Laboratory Sample Status Update
Batch Number Of Status
ID Samples
------ ---------- ---------------
Under Analysis
1 665 In Moscow
In Transit to
2 774 Moscow
------ ---------- ---------------
Glossary
DEFINITIONS OF EXPLORATION RESULTS, RESOURCES & RESERVES
EXTRACTED FROM THE JORC CODE: (December 2012) (www.jorc.org)
A 'Mineral Resource' is a concentration or occurrence of
material of intrinsic economic interest in or on the Earth's crust
in such form, quality and quantity that there are reasonable
prospects for eventual economic extraction. The location, quantity,
grade, geological characteristics and continuity of a Mineral
Resource are known, estimated or interpreted from specific
geological evidence and knowledge. Mineral Resources are
sub-divided, in order of increasing geological confidence, into
Inferred, Indicated and Measured categories.
An 'Inferred Mineral Resource' is that part of a Mineral
Resource for which tonnage, grade and mineral content can be
estimated with a low level of confidence. It is inferred from
geological evidence and assumed but not verified geological and/or
grade continuity. It is based on information gathered through
appropriate techniques from locations such as outcrops, trenches,
pits, workings and drill holes which may be limited or of uncertain
quality and reliability.
An 'Indicated Mineral Resource' is that part of a Mineral
Resource for which tonnage, densities, shape, physical
characteristics, grade and mineral content can be estimated with a
reasonable level of confidence. It is based on exploration,
sampling and testing information gathered through appropriate
techniques from locations such as outcrops, trenches, pits,
workings and drill holes. The locations are too widely or
inappropriately spaced to confirm geological and/or grade
continuity but are spaced closely enough for continuity to be
assumed.
A 'Measured Mineral Resource' is that part of a Mineral Resource
for which tonnage, densities, shape, physical characteristics,
grade and mineral content can be estimated with a high level of
confidence. It is based on detailed and reliable exploration,
sampling and testing information gathered through appropriate
techniques from locations such as outcrops, trenches, pits,
workings and drill holes. The locations are spaced closely enough
to confirm geological and/or grade continuity.
An 'Ore Reserve' is the economically mineable part of a Measured
and/or Indicated Mineral Resource. It includes diluting materials
and allowances for losses, which may occur when the material is
mined. Appropriate assessments and studies have been carried out,
and include consideration of and modification by realistically
assumed mining, metallurgical, economic, marketing, legal,
environmental, social and governmental factors. These assessments
demonstrate at the time of reporting that extraction could
reasonably be justified. Ore Reserves are sub-divided in order of
increasing confidence into Probable Ore Reserves and Proved Ore
Reserves.
Click on, or paste the following link into your web browser, to
view the associated PDF document and audio file.
http://amurminerals.com/content/wp-content/uploads/2017-Drill-Results-June-30-Kubuk.pdf
http://amurminerals.com/content/wp-content/uploads/Kubuk-Maiden-audio-6-July-2017.mp3
This information is provided by RNS
The company news service from the London Stock Exchange
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