Phase I Exploration Results

RNS Number : 4053S

Amur Minerals Corporation

21 November 2011

 



AMUR MINERALS CORPORATION

(AIM: AMC)

2011 Kun-Manie Exploration Results

Soil Geochemical Sampling Defines Addition Drill Targets

Amur Minerals Corporation ("Amur" or the "Company"), a nickel-copper sulphide mineral exploration and resource development company focused on far east Russia, announces the results of the first phase of its 2011 exploration programme at its Kun-Manie nickel copper sulphide project located in Amur Oblast. 

Included in the 2011 exploration programme was an extensive soil geochemical sampling programme.  The programme covered two areas totalling approximately 57.5 square kilometres.  The largest area is 15 kilometres in length and 2.5 kilometres in width and was focused along the Krumkon Trend, which is included in the area for which the Company has applied for a mining licence.  The trend contains three deposits (Maly Krumkon, Vodorazdelny and Ikenskoe) drilled to Joint Ore Reserve Committee (JORC) standards.  The second sampled area, known as Yan Hegde, covered about 20 square kilometres.  Yan Hegde is located approximately 10 kilometres to the northeast of the Krumkon Trend.  In addition to the soil sampling programme, the following work was undertaken during the 2011 field season:

·     Grab sampling and geological mapping;

·     Geophysical surveys (Induced Polarization and magnetometer) within smaller target areas including Maly Krumkon, Ikenskoe, Kubuk and Yan Hegde; and

·     Trenching within areas where sulphide mineralisation has been identified.  Typically, these are excavated adjacent areas of known drilled reserves or previously identified areas containing anomalous amounts of nickel and copper.  The majority of the trenching has been focused in the Maly Krumkon, Ikenskoe and Kubuk areas.

Location Maps are attached at the bottom of the release.

Final analytical results and geophysical investigative work are not yet fully compiled and will be reported when complete. 

Positive soil geochemical sampling results indicate that additional exploration trenching and drilling is required in multiple areas within the limits of the exploration licence and the area within which the Company has applied for the mining licence.  The target areas are shown on a series of figures provided as appendices to this release.  Descriptions of each area from west to east along the Krumkon Trend follow:

·     Chorney Ispelene is located at the northwest edge of the soil sampled area.  Results indicate the presence of an anomaly that is up to 1,000 metres in length.  However, the sampling programme did not cover the full extent of the soil anomaly.  Next season, the soil sampling programme   will be expanded to include more of the Chorney Ispelene area to determine the full extent of the anomaly.

·     Maly Krumkon contains a JORC drilled resource and reserve.  The drill defined resource has a total length of approximately 1,000 metres.  At its southeast limit, existing drill holes and a trench contain substantial ore intervals.  The soil anomaly indicates that mineralisation could continue for another 1,250 metres to the southeast.  This 1,250 metre potential extension is referred to as the Flangovy area.  Trenching has also been undertaken along the soil geochemical anomaly and results will be reported when available.  The results will determine the amount of drilling to be completed in the Flangovy area during 2012.

·     Gorni contains two drill holes which intersect two mineralised horizons of nickel and copper.  Limited trenching in the area indicates the zone may extend to the northwest toward the Maly Krumkon - Flangovy area.  Soil geochemical results between Gorni and the Maly Krumkon - Flangovy area indicate the presence of a discontinuous low grade nickel and copper anomaly.  Trenching and drilling within this Gorni area toward Flangovy is required.

·     Voderazdelny includes the deposits referred to as the Cap and Triangle, is located near the centre of the soil geochemical grid completed along the Krumkon Trend.  JORC drilled resources and reserves have been defined at Voderazdelny.  There is a large and intense anomaly overlying the outcropping Voderazdelny deposits which extends downhill toward the east.  The intensity of the anomaly is due to the fact the samples have been collected for soil immediately in and adjacent to ore outcrops which are abundant in the drilled resource area.  The anomaly downhill to the east and south of Voderazdelny is interpreted to be float from the ore exposed in the Cap and Triangle areas located uphill of the anomaly.  Hence this part of the anomaly may not be identifying a drill target.

·     To the east of the Cap deposit of Vodorazdelny, there is a soil geochemical anomaly located along and below an outcrop of mineralisation called the Falcon area.  The soil anomaly and past widely spaced wild cat holes have intersected mineralisation along this 500 to 1,000 metre long target.  Trenching and drilling are required in this area.

·     Ikenskoe soil geochemical anomalies are low grade and discontinuously distributed along the flanks of Ikenskoe ridge.  The ridge has been extensively drilled and JORC resources and reserves are defined.  This indicates that even low grade soil anomalies must be considered carefully and not dismissed. 

·     Immediately adjacent to the east and south of Ikenskoe, is Sobolevsky peak.  Outcrops of mineralised nickel and copper are present within the hillside and have been exposed in road cuts.  An intense soil geochemical anomaly is present to the south of Ikenskoe where it is believed that the exposed mineralisation is a continuation of the reserves drilled at Ikenskoe.  Trenching has been undertaken in the area and an Induced Polarization survey indicates there is a potential conductor (possible metal enriched zone) corresponding to the soil anomaly.  This area is approximately 500 metres long and requires additional soil geochemical sampling to the south.  Trenching and drilling during 2012 are required.

·     Kubuk is presently the last defined anomaly to the east along the Krumkon Trend.  It is 3.5 kilometres east of Sobolevsky peak.   Two historical trenches indicated that nickel and copper mineralisation were present.  The soil geochemical sampling programme has identified an intense anomaly up to 1,000 metres in length which corresponds to the mineralisation identified in the historical trenches.  Trenching and geophysical surveys have also been completed in the area.  The soil anomalies located in the Kubuk area may not have been fully defined.  To the east and west, anomalous values are present at the limits of the sampled areas.  Hence, additional soil geochemical sampling is required.  The final analytical results will be presented when they are available.

·     Yan Hegde is located 10 kilometres to the northeast of the Krumkon Trend.  Geologically it is a circular structure where previous geological mapping and limited grab sampling had indicated the presence of rock types that host nickel and copper.  The soil sampling programme has defined a large anomaly covering an area of about 3.5 to 4.0 square kilometres.  Trenching and drilling are needed in the anomalous area during 2012.

In conclusion, the extensive soil sampling programme has defined multiple target areas throughout the Krumkon Trend which require future trenching and drilling.  Some of the targets are located immediately adjacent to drilled resources and reserves thereby representing prime targets for the potential expansion of already JORC defined resources and reserves. 

Robin Young, CEO of Amur Minerals, commented:

"The soil geochemical programme has both expanded known drill targets and also defined multiple additional targets requiring trenching and drilling.  We plan to drill the better of the anomalies during the 2012 field season. 

"Trenching and geophysical survey results completed during the 2011 field season are presently being compiled.  As the final analytical results are obtained from Alex Stewart Laboratories in Moscow, the, results will be announced. The potential for expansion of resources and reserves looks to be substantial."

21 November 2011

Enquiries:

Company Amur Minerals Corp.	Nomad and Joint Broker RBC Capital Markets	Joint Broker Hybridan LLP	Public Relations Lothbury Financial Services
Robin Young CEO	Martin Eales	Claire Noyce	Michael Padley
[phone]	[phone]	[phone]	[phone]

JORC Summary

A summary of the independently derived resources and reserves within the Kun-Manie nickel copper sulphide project follows.  SRK Consulting was responsible for the calculation of the JORC classified tonnages and grades.

SRK Consulting JORC Resource Statement

Orebody	Tonnage (Mt)	Ni (%)	Ni (t)	Cu (%)	Cu (t)
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 Maly Krumkon	26.2	0.52	136,500	0.14	37,700
Vodorazdelny
Indicated	5.9	0.71	41,800	0.20	11,800
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

SRK Consulting JORC Reserve Statement*

Deposit	Million Ore Tonnes	Million Waste Tonnes	Stripping Ratio	Average Ni (%) Grade	Tonnes Of Nickel	Average Cu (%) Grade	Tonnes Of Copper
Ikenskoe	15.4	42.9	2.7:1	0.51%	77,900	0.14%	22,200
Maly Krumkon**	10.8	69.9	5.5:1	0.50%	54,200	0.14%	14,900
Vodorazdelny	5.3	2.6	0.5:1	0.73%	38,500	0.20%	10,800
Probable Ore Reserve	31.5	108.8	2.85:1	0.54%	170,500	0.15%	47,900

*A 0.2% nickel cut-off grade has been calculated by the Company based on the operating costs, metallurgical recovery and nickel price utilised by SRK in the 2007 pre-feasibility study.

**The Maly Krumkon Reserve contains 6.7 Million tonnes of Inferred Resource.  This Inferred Resource has been reported as waste in the above table.  The average nickel and copper grades for this inferred material are 0.50% and 0.15%, respectively.   The majority of this potential ore lies near the middle of the pit and requires additional drilling to convert it into reserve.

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