Drilling Results for 2012 Field Season

RNS Number : 0563R

Amur Minerals Corporation

14 November 2012

 

14 November 2012

AMUR MINERALS CORPORATION

(AIM: AMC)

Drilling Expands Maly Kurumkon Deposit

2012 Field Season Completed

Amur Minerals Corporation ("Amur" or the Company), the nickel-copper sulphide exploration and resource development company focused on the far east of Russia, is pleased to announce it has completed its 2012 exploration drill programme wherein 7,200 metres were drilled in three target areas.

As part of the 2012 drilling programme, a one kilometre long block of ground (Flangovy) was drilled immediately east of the proposed Maly Kurumkon pit.  Results are available for the western half for the Flangovy block that had not been drilled previously.  The remainder of the Flangovy drill results covering an additional 500 metres further to the east will be announced when available.

Highlights:

·     A total of 7,200 metres were drilled during the season ending in 6 November 2012.

·     Results confirm the Maly Kurumkon deposit continues an additional 500 metres beyond the proposed pit design into the Flangovy block.

·     In the Flangovy block, the mineralisation;

·     Increases in thickness to the east from 19.2 metres to 33.1 metres,

·     Is 44% higher for the nickel grade at 0.72% Ni than estimated within the pit (0.50% Ni),

·     Is 64% higher for the copper grade at 0.23% than projected within the pit (0.14% Cu).

·     Significant higher grade intercepts have been identified throughout the area with the key intervals including:

·     C210-1 contains 9.0 metres of 1.10% Ni and 0.26% Cu,

·     C202-1 contains 52.6 metres of 0.92% Ni and 0.24% Cu,

·     Intervals in excess of 1.00% Ni are present throughout the Flangovy block averaging a thickness of 2.34 metres with grades of 1.19% Ni and 0.29% Cu.

·     Regulatory verification drilling (twin hole analyses), confirms drilling procedures and sample selection are professionally implemented.

The results from the eight holes that encountered mineralisation show the Maly Kurumkon deposit continues into the Flangovy block for at least an additional 500 metres along strike and beyond the proposed pit design.  The pit design currently contains approximately 650 metres of mineralised strike length.  The cumulative in-hole mineralised thicknesses in the Flangovy block averages 26.4 metres and increases eastward from an average of 19.2 metres to 33.1 metres. 

Using a nickel only cut off grade of 0.20%, the average nickel and copper grades are 0.72% and 0.23%, respectively.  These are substantially higher grades than reported in the proposed pit at Maly Kurumkon designed by SRK Consulting.  The average nickel grade is 44% higher than the pit planned production grade of 0.50% Ni whilst the copper grade is 64% higher than estimated (at 0.14% Cu) within the proposed pit.  The mineralisation is open at depth and along strike to the east.

Locally, much higher grades of nickel and copper have also been identified within the drill holes.  A total of 23 intervals have been identified which exceed 1.0% nickel over a minimum length of 0.5 metres.  Within the drilled holes, the average thickness of the high grade mineralisation averages 2.34 metres for which the average nickel grade is 1.19% whilst the copper grade is 0.29%.  In one of the holes drilled, C210-1, a substantially thick interval of 9.0 metres carries concentrations of 1.10% Ni and 0.26% Cu.  These high grade thicknesses and concentrations are among the highest intersected on the project to date.  Such grades and thicknesses suggest that underground mining may be a viable option possibly allowing the Company to produce higher average production grades than previously indicated in the SRK pre-feasibility study.

In accordance with Russian regulatory procedures and to ensure drill procedures are not introducing a bias due to inappropriate field procedures, the Company has also completed obligatory verification drilling.  This procedure was completed by drilling a hole immediately adjacent to a previously completed drill hole.  Results confirm that the mineralised thicknesses and grades are mutually supportive.  The verification exercise was conducted adjacent to drill hole C197.  Hole C197 contained a total mineralised thickness of 26.9 metres with grades of 0.79% nickel and 0.28% copper.  The twin hole of C197K contained 25.7 metres of mineralisation and similar nickel and copper grades of 0.81% Ni and 0.19% Cu.

A map of the areas presented above and the detailed drill results are provided in the Notes For Editors below.  Also, additional holes were drilled which did not encounter mineralisation and have not been reported in the tables.

Robin Young, CEO of Amur Minerals, commented:

"It is with pleasure that the Company announces that the 2012 drilling has proven that the Maly Kurumkon deposit continues for at least another half kilometre eastward immediately adjacent to the proposed Maly Kurumkon pit and running nearly as long again as the length of the mineralisation within the proposed pre-feasibility study pit.  Substantially higher grades of 0.72% nickel and 0.23% copper indicate our study results may be conservative.  A greater number of intersections exceeding 1.0% nickel opens the door to possible underground production considerations for mineralisation not located within an economic pit limit.  We are awaiting additional results that could extend the length of this newly defined mineralisation further east toward the Gorny deposit."

Enquiries:

Company Amur Minerals Corp.	Nomad and Joint Broker RBC Capital Markets	Joint Broker Merchant Securities	Public Relations Tavistock
Robin Young CEO	Martin Eales	Lindsay Mair	Jos Simson / Ed Portman
[phone]	[phone]	[phone]	[phone]

Notes For Editors

Qualified Person

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.  He has 36 years of relevant experience in and mine experience. 

Click on, or paste the following link into your web browser, to view the associated PDF document.

http://www.rns-pdf.londonstockexchange.com/rns/0563R_-2012-11-14.pdf 

Kurumkon / Flangovy Drill Results

12 November 2012

0.20% Nickel Cut Off Grade

The information presented below is based on a nickel only cut off grade of 0.20% Ni.  A minimum mineralised length of 3.0 metres has been used.  Internal waste has been included in determination of the average interval grades if the waste interval is less than three metres in length. 

Drill Interval Summary

Alex Stewart Laboratory Results

Cut Off Grade of 0.20% Nickel

Drill Hole	Intersection Data 0.20% Nickel Cut Off Grade (COG)
	From (m)	To (m)	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
C197	50.0	62.6	12.6	0.73	0.26
C198	57.8	68.8	11.0	0.68	0.2
C198	76.0	84.5	8.5	0.84	0.2
C199	99.9	105.1	5.2	0.95	0.22
C199	116.3	123.7	7.4	0.78	0.19
С202	75.3	79.8	4.5	0.70	0.23
С202	148.5	153.0	4.5	0.78	0.15
С202-1	137.3	146.5	9.2	0.59	0.38
С202-1	161.1	213.7	52.6	0.92	0.24
С202-2	202.4	219.2	16.8	0.64	0.16
С204	208.2	215.0	6.8	0.56	0.21
С204-1	184.9	198.3	13.4	0.41	0.17
С204-1	220.8	224.9	4.1	0.31	0.16
С204-1	236.9	245.5	8.6	0.60	0.26
С204-1	254.9	263.9	9.0	0.29	0.12
С204-1	274.4	298.6	24.2	0.72	0.23
Average Intercept			11.7	0.72	0.23
Average Total Per Hole			26.4	0.72	0.23

Note:  All holes are drilled on an azimuth of 207 degrees and at dips between 65 and 75 degrees.  Hole 2042-2 is a vertical hole.

Kurumkon / Flangovy Drill Results

12 November 2012

1.0% Nickel Cut Off Grade

Drill Interval Summary

Alex Stewart Laboratory Results

Cut Off Grade of 1.0% Nickel

The information presented below is based on a nickel only cut off grade of 1.0% Ni.  There is no minimum length used to determine the drill intercept length.  Internal waste has not been included.

Drill Hole	Intersection Data 1.0% Nickel Cut Off Grade (COG)
	From (m)	To (m)	Length (m)	Nickel (%)	Copper (%)
C197	53.3	54.0	0.7	1.15	0.24
C197	54.8	58.3	3.5	1.31	0.34
C198	81.8	83.5	1.7	1.79	0.42
С199	101.4	103.0	1.6	1.09	0.24
С199	104.0	105.1	1.1	1.04	0.25
С199	119.4	120.9	1.5	1.01	0.16
С202	75.30	76.8	1.5	1.163	0.31
С202	151.5	153.0	1.5	1.35	0.18
С202-1	139.3	140.3	1.0	1.84	0.44
С202-1	162.1	164.7	2.6	1.20	0.20
С202-1	169.0	170.5	1.5	1.17	0.21
С202-1	172.0	173.5	1.5	1.10	0.25
С202-1	175.0	184.0	9.0	1.10	0.26
С202-1	188.5	193.0	4.5	1.15	0.27
С202-1	197.5	202.0	4.5	1.14	0.27
С202-1	206.5	208.0	1.5	1.01	0.29
С202-1	209.5	212.8	3.3	1.15	0.31
С202-2	207.2	209.9	2.7	1.22	0.31
С202-2	218.3	219.2	0.9	1.09	0.18
С204-1	284.1	285.4	1.3	1.06	0.24
С204-1	286.4	287.9	1.5	1.04	0.33
С204-1	289.4	293.2	3.8	1.37	0.29
С204-1	295.1	296.3	1.2	1.05	0.77
Average Intercept			2.34	1.19	0.29

Kurumkon / Flangovy Drill Results

12 November 2012

Verification Drill Hole Comparison

Original Hole	From (m)	To (m)	Length (m)	Ni (%)	Cu (%)
C197	15.1	21.2	6.1	0.46	0.14
C197	38.6	46.8	8.2	1.00	0.43
C197	50.0	62.6	12.6	0.82	0.26
C197			26.9	0.79	0.28
Verification Hole	From (m)	To (m)	Length (m)	Ni (%)	Cu (%)
С197К	15.1	21.2	6.1	0.37	0.09
С197К	38.6	48.5	9.9	1.02	0.23
С197К	51.5	61.2	9.7	0.88	0.21
С197К			25.7	0.81	0.19

 

END

 

 

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