Flangovy Resource Block 1 Drilling Complete

RNS Number : 1587Z

Amur Minerals Corporation

16 September 2015

 

16 September 2015

AMUR MINERALS CORPORATION

(AIM: AMC)

Block 1 Drilling Complete

32% of Flangovy Resource Tested

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 provide an update on the infill drill programme for the Flangovy area of the Kun-Manie production licence, which continues to generate multiple benefits and has definitively identified specific and continuous higher grade horizons. 

Highlights:

·     The Flangovy deposit consists of five distinct resource areas requiring varying amounts of infill drilling.  Drilling has been completed within the first area referred to as Block 1.  It contains approximately 8.5 million ore tonnes of resource and approximately 32% of the contained metal estimated within Flangovy.  Four infill holes have been completed within the 250 metre long block with a total of 1,280.6 metres having been completed.

·     The average infill grades as determined by the Company owned Niton XL2 500 X-Ray Fluorescence unit ("Niton") within Block 1 are 0.8% nickel and 0.2% copper.  The average total mineralised metres per hole are 26.7 metres with the average thickness of the discrete mineral zones being 9.8 metres. 

·     Previous existing drill intercepts for Block 1 had identified the intercept grade was 0.83% for nickel and 0.22% for copper with the average interval thickness being 10.9 metres (total mineralised thickness per existing hole being 32.7 metres). 

·     The historical and newly completed infill drill results within Block 1 are mutually supportive and confirm the presence of the mineralisation in both thickness and grade.

·     Four additional blocks remain to be drilled over the remainder of the field season.  Drilling on Block 2 is nearly complete and covers an area of approximately 250 meters in length.  The resource within this block is projected to contain approximately 10.7 million ore tonnes containing an additional 32% of the total Flangovy metal content.  Drill core logging confirms the presence of significant nickel and copper sulphide mineralisation.

·     Results from the first batch of 21 samples from ASL confirm the Niton results.  ASL results indicate an average grade of 1.14% for nickel and 0.31% for copper.  The corresponding results derived internally using the Niton unit were 1.13% nickel and 0.33% copper.  The difference in the nickel and copper grades for the 21 samples is considered to be negligible and confirms use of the Niton unit is effective.

·     To date, results from 2,224.4 metres of the planned 6,000 metres have been reported.  Drilling has thus far substantiated the presence of 32% of contained metal within the Flangovy resource, drilling in Block 2 is near complete and is testing an additional 32% of the Flangovy metal resource, and successful step out drilling has extended the Flangovy resource area by nearly 400 metres.

·     The comprehensive drill data set for the eight total holes in Block 1 has established the presence and continuity of higher grade horizons along the length of the block.  The average JORC grade of the resource within Block 1 is projected to be 0.60% nickel whilst the average drill intercept grade for all Block 1 holes is near 0.8% nickel (based on a cutoff grade of 0.2% nickel).  Definition of the higher grade, discrete lenses could well provide higher grade underground mining targets than previously interpreted.  This may substantially and positively impact the mineable grades and economic potential of the project. 

Block 1 Drill Results

Four recently completed infill holes confirm the continuity of the mineralisation in both thickness and grade within an area between two drill sections referred to as Block 1.  The 250 metre long block contains approximately 32% of the contained metal within the SRK Consulting Ltd ("SRK") estimated Flangovy resource.  The Block 1 infill drill metres total 1,280.6 metres.  The intersected mineralisation averages 0.8% nickel and 0.2% copper as determined by the Company owned Niton unit.  The average per drill hole mineralised thickness over the extent of Block 1 is 29.8 metres.

Block 2 Drill Status

Drilling on Block 2 is also nearing completion and this block contains an additional 32% of the metal estimated to be within the Flangovy resource.  Results from Block 2 will be announced in due course.  The combined total resource of Blocks 1 and 2 contain approximately 64% of the Flangovy contained metal resource. 

Niton Accuracy Verification

Alex Stewart Laboratory ("ASL") results are now being received.  ASL analytical results confirm the Company generated Niton results to be representative and accurate.  Analyses for the first 21 samples are now available for intervals exceeding 1.0% nickel.  The Niton results were 1.13% nickel with ASL being 1.14% nickel.  Copper results for the Niton were 0.33% and 0.31% derived by ALS. 

Robin Young, CEO of Amur Minerals, commented:

"Our infill drill programme is generating multiple benefits for the Company. We have been able to confirm the continuity of the mineralisation for a third of the JORC resource at Flangovy.  The successful infill results have confirmed the existing results from the more widely spaced drill holes.  Also of importance is the identification of specific and continuous higher grade horizons.  This is significant as we envision mining the majority of Flangovy using underground methods.  With the continuity of these higher grade zones, we have the opportunity to produce higher ore production grades than anticipated in previous assessments by the Company.  In Block 1 alone, we see a potential to increase the current JORC resource model grade of 0.6% nickel.  Our drill grades for this block are 33% higher, averaging nearly 0.8%."

Company Amur Minerals Corp.	Nomad and Broker S.P. Angel Corporate Finance LLP	Public Relations Yellow Jersey
Robin Young CEO	Ewan Leggat	Dominic Barretto Harriet Jackson
[phone]	[phone]	[phone]

For additional information, visit the Company's website, www.amurminerals.com.

Notes to Editor

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.

The 2015 Flangovy Drill Programme Design

The 2015 drill programme of Kun-Manie is focused on the Flangovy area of the Maly Kurumkon / Flangovy deposit.  A total of 6,000 metres have been budgeted and targeted for the 2015 field season.  The metres have been allocated into two target types.  The first being a pair of step out holes comprised of a maximum of 1,000 metres with the remaining 5,000 being dedicated to infill drilling to upgrade Inferred to Indicated resources. 

Drill section spacing at the beginning of the 2015 drill programme ranged from approximately 100 to 250 metres defining JORC Inferred resources.  With six drill sections existing at the beginning of this year, the drill programme was designed to infill drill the five intervening drill section bounded blocks.  The drilling is progressing from east to west, which allows for the areas containing greater tonnages of ore to be drill confirmed on a priority basis.  Block 1 and 2 contain a combined total of approximately 60% to 65% of the presently defined metal within the JORC resource.  It is noted that the required drill depths to the mineralisation decrease in an east to west direction. 

Given the current daily drill rate, it is anticipated that the majority of the Flangovy area will be infill drilled this season.

See the following link for schematic drawings and information related to this release.

http://www.rns-pdf.londonstockexchange.com/rns/1587Z_-2015-9-15.pdf 

		Flangovy Drill Results
RFA Results
Diamond Core Hole Results 0.2% Ni Cut Off Grade								Comments and Impact
Hole #	Depth (m)		From (m)	To (m)	Length (m)	Ni (%)	Cu (%)
C300	150.0		121.0	122.5	1.5	0.2	0.0	Block 5 - West Limit Down Dip Mineral Limit Established
C301	31.0					Barren	Barren	Block 5 - West Limit Hidden Outcrop Limit Established
C302	229.6		143.8 185.5 206.3	161.5 203.5 218.6	17.7 18.0 12.1	0.7 0.9 0.9	0.3 0.3 0.2	Block 1 Thickness and Grade Confirmed
C303	245.0		108.1 130.0 224.5	110.0 133.0 234.8	1.9 3.0 10.3	0.7 0.4 0.9	0.1 0.2 0.3	Block 1 Thickness and Grade Confirmed
C305	388.0		359.2 374.5	366.0 379.0	6.8 4.5	0.8 0.7	0.2 0.2	Step Out Verification Hole Extension of Flangovy
C306	374.8		316.0 329.6 356.5	328.7 346.0 374.0	12.7 16.4 17.5	1.0 0.7 0.7	0.2 0.2 0.3	Step Out - Discovery Hole Extends Flangovy 400 metres to East
C308	400.0		358.0 374.5	368.5 382.0	10.5 7.5	0.6 0.7	0.1 0.2	Block 1 Thickness and Grade Confirmed
C309	406.0		317.5 341.5 358.0	331.0 350.5 362.3	13.5 9.0 4.3	0.8 1.0 0.7	0.2 0.2 0.2	Block 1 Thickness and Grade Confirmed
Total	2,224.4

Awaiting ASL results.

 

END

 

 

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