Drilling Underway on Maly Kurumkon Extension

RNS Number : 4270H

Amur Minerals Corporation

12 July 2012

 



12 July 2012

AMUR MINERALS CORPORATION

(AIM: AMC)

Drilling Underway on Maly Kurumkon Extension

Amur Minerals Corporation ("Amur" or the "Company"), a nickel-copper sulphide mineral exploration and resource development company focused on far east Russia, announces that the 2012 exploration field programme is now fully operational.  Fieldwork which has been ramping up since early June upon completion of the ice road and restocking of the site camps now has a staff of 70 personnel on site and working on the various targets identified by previous exploration work.  Drilling is presently being implemented at the first of numerous targets and is now being conducted immediately adjacent to the area to the southeast of Maly Kurumkon which is in the West zone of the 15 kilometre by 2.5 kilometre Kurumkon Trend:

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·     Trenching, mapping, and geochemical sampling completed in 2011 exploration season and carried out immediately adjacent and to the southeast of the SRK proposed Maly Kurumkon pit area has confirmed that this structure, that hosts nickel and copper, extends for another 1,000 metres bringing the total defined continuous host zone length to more than two kilometres. 

·     Samples within the trenches and geophysical results confirm that diamond core drilling is warranted.  Successful results could expand and extend the proposed Maly Kurumkon deposit along the host structure in a meaningful way. 

·     The Company has contracted a western drill expert to oversee, manage and train staff in the operation of the newly acquired Boart Longyear LF-70 diamond core drill.  Use of the newly acquired rig is projected to reduce drill costs by as much as $165 per metre. 

·     Presently, 14 holes are planned to test for the presence of nickel and copper along this extension  (called Flangovy) of the Maly Kurumkon deposit.  As drill results become available, they will be used to determine the final locations, orientation and depth of subsequent holes.

·     Four holes have been completed along a section located 100 metres to the southeast of the drill holes located in the original SRK proposed open pit proposed by SRK in their pre-feasibility study at Maly Kurumkon.   Drilling has confirmed the presence of the nickel and copper sulphide host zone within three of the four completed holes.  The drilled thicknesses of the mineralised zone range from 16 to 26 metres.  Drilling of the fourth hole was terminated short of the targeted host zone due to poor ground conditions. 

·     Logging of the core indicates that there are greater sulphide mineral contents, which contains the nickel and copper, located along the footwall and hanging wall contacts of the host rock. 

·     Samples were airlifted by helicopter to the Company's base camp on 7 July 2012 and are presently in transit to Alex Stewart Laboratories in Moscow. 

Additional teams are undertaking exploration and road construction throughout the exploration license area consisting of the following activities:

·     An access road is being constructed from the Maly Kurumkon deposit northward to the Chorney Ispolene target where stratigraphic drilling is planned for later this year.  Trenching and geophysical surveys are scheduled to cover the eastern part of the six kilometre long structure.

·     Geophysical surveys are being conducted at Kubuk and to the south of Ikenskoe.  Drill road access and drill sites are completed and ready for drilling later in the field season.

·     Geochemical sampling and trenching is in progress at Yan Hegd.

http://www.rns-pdf.londonstockexchange.com/rns/4270H_1-2012-7-11.pdf

Robin Young, CEO of Amur Minerals, commented:

"The 2012 exploration teams are now at full strength and work is advancing in numerous areas and targets at the same time.  The newly purchased diamond core rig is operating well and geological observation of the core indicates the Maly Kurumkon zone continues to the southeast.  We are seeing host zone thicknesses similar to results from previous drill results and anticipate the existing SRK defined pre feasibility open pit at Maly Kurumkon will be extended to the southeast. "

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	Lydia Eades / Ed Portman
[phone]	[phone]	[phone]	[phone]

Notes From Editor

Attached is a plan map of the Maly Kurumkon and Flangovy areas depicting the geological host zone, excavated trenches and planned drill hole locations.

 

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