Resource Increase 140%
Amur Minerals Corporation
19 November 2007
Amur Minerals Corporation
('Amur' or 'the Company')
Maly Krumkon Resource Increased by 140%
Amur Minerals Corporation (AIM: AMC), an exploration and development company
focused on East Russia, announces the results of its resource update for the
Maly Krumkon deposit located on its Kun-Manie nickel copper licence in eastern
Russia. Using the 2007 drill results, SRK Consulting has estimated the Maly
Krumkon deposit to be substantially larger, in terms of both total tonnes of ore
and tonnes of contained nickel and copper, than was reported at year end 2006.
Highlights:
• The infill and step out drilling has defined a total of 26.3 million
tonnes of ore within the combined resource classes of Indicated and
Inferred, as defined by the JORC Code. This represents an increase of some
140% over last year's resource estimate for the Maly Krumkon deposit;
• The total estimated contained nickel and copper has been increased to
136,500 tonnes and 37,700 tonnes respectively. This represents an increase
of some 170% for nickel and 150% for copper compared to that previously
reported;
• The average nickel grade has been increased to 0.52%, up from 0.45% in
last year's estimate; and
• Some 15.0 million tonnes of the updated resource estimate, with mean
grades of 0.49% nickel and 0.13% copper, and containing 73,800 tonnes of
nickel and 15,000 tonnes of copper respectively, has been reported by SRK
Consulting as an Indicated Mineral Resource, as defined by the JORC Code,
and the remainder as an Inferred Mineral Resource.
The updated newly expanded resource estimate for Maly Krumkon is presented
below.
Maly Krumkon Updated JORC Resource Estimate - November 2007
Resource Tonnage Ni Ni Cu Cu
Category (Mt) (%) (t) (%) (t)
Indicated 15.0 0.49 73,700 0.13 19,900
Inferred 11.2 0.56 62,800 0.16 17,800
Total Maly Krumkon Resource 26.2 0.52 136,500 0.14 37,700
Global Resource - All Deposits
Total Measured 3.7 0.61 22,700 0.16 5,800
Total Indicated 47.7 0.48 226,800 0.13 64,400
Total Inferred 17.1 0.54 91,500 0.15 25,300
Grand Total 68.5 0.50 341,000 0.14 95,500
Robin Young, Amur's Chief Executive Officer, commented:
'The latest drilling has added 34% more nickel to our total resource base. In
addition, we have significant potential copper, cobalt, platinum and palladium
credits which we do not report.'
'What is even more encouraging than these excellent results is the expansion
potential. Positive geophysical results indicate we have at least another four
kilometres of ground to the east which we need to drill. As well as this
additional potential along strike, we also have the upside of extending the
resource down dip. I believe we are just seeing the tip of what is a much larger
resource at Maly Krumkon.'
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.
19 November 2007
Enquiries:
Company Co-Broker Nomad and Public Relations
Co-Broker
Amur Minerals Fox-Davies Capital RBC Capital Bankside
Corp. Limited Markets
Robin Young Daniel Fox-Davies Andrew Smith Michael Padley
CEO Martin Eales
+44 (0)7981 +44 (0) 20 7936 +44 (0) 20 7029 +44 (0) 20 7367
126 818 5200 7881 8881
Notes to Editors
Kun-Manie Drill Resource Update
The 2007 exploration drill programme on the Maly Krumkon deposit was designed
for resource expansion by in fill and step out drilling. This deposit is one of
three from which drilled resources are being reported while four green field
targets remain to be drilled.
The Maly Krumkon structure has been mapped and identified using a modified
ground based IP geophysical survey. The IP results indicate that the structure
may exist over a total length of approximately five kilometres of which only 700
metres has been drilled. Drilling is required to confirm the potential presence
of economic mineralisation projected to exist to the east of the currently
defined resource.
Within the drilled area, the average true thickness is estimated to be about 30
metres. Using 14 drill holes and four trenches for which analytical results were
available, SRK Consulting constructed a wire frame model of the zone using a
nickel only cut off grade of 0.10%. Resource grades were estimated for nickel,
copper, and cobalt using the Ordinary Kriging method. The resource has been
compiled in accordance with JORC reporting standards.
Based on the Maly Krumkon results alone, the newly updated resource within the
licence has been increased of approximately 29% in tonnage, 34% in contained
tonnes of nickel and 31% in contained tonnes of copper. Pt, Pd and Co are not
reported at this time.
Updated Global JORC Mineral Resource Estimate - November 2007
Orebody Tonnage Ni Ni Cu Cu
-------------------------------------------------------------------------------
(Mt) (%) (t) (%) (t)
-----------------------------------------------------------------
Vodorazdelny
-----------------------------------------------------------------
Indicated 5.9 0.71 41,800 0.20 11,800
-------------------------------------------------------------------------------
Ikenskoe
-----------------------------------------------------------------
Measured 3.7 0.61 22,700 0.16 5,800
-------------------------------------------------------------------------------
Indicated 26.8 0.42 111,300 0.12 32,700
-------------------------------------------------------------------------------
Sub-total 30.5 0.44 134,000 0.13 38,500
-------------------------------------------------------------------------------
Inferred 5.9 0.49 28,700 0.13 7,500
-------------------------------------------------------------------------------
Total Ikenskoe 36.4 0.45 162,700 0.13 46,000
-------------------------------------------------------------------------------
Maly Krumkon
-----------------------------------------------------------------
Indicated 15.0 0.49 73,700 0.13 19,900
-------------------------------------------------------------------------------
Inferred 11.2 0.56 62,800 0.16 17,800
-------------------------------------------------------------------------------
Total Resource
-------------------------------------------------------------------------------
Total Measured 3.7 0.61 22,700 0.16 5,800
-------------------------------------------------------------------------------
Total Indicated 47.7 0.48 226,800 0.13 64,400
-------------------------------------------------------------------------------
Total Inferred 17.1 0.54 91,500 0.15 25,300
-------------------------------------------------------------------------------
Grand Total 68.5 0.50 341,000 0.14 95,500
-------------------------------------------------------------------------------
The Vodorazdelny and Ikenskoe tonnages and grades in above table are based on
drilling completed through the 2006 field season. These resource numbers have
not been updated to reflect the drill results of the 2007 field season as
substantial portions of the analytical results are not yet available.
This information is provided by RNS
The company news service from the London Stock Exchange