Resource Update Initiated

RNS Number : 9797C

Amur Minerals Corporation

26 January 2018

 

26 January 2018

AMUR MINERALS CORPORATION

(AIM: AMC)

2017 QAQC Analytical Results

Resource Update Initiated

Amur Minerals Corporation ("Amur" or the "Company"), the nickel-copper sulphide mineral exploration and resource development company focused on the far east of Russia, is pleased to inform shareholders that it has received the final Quality Assurance / Quality Control ("QAQC") analytical results for its 2017 drill season at its Kun-Manie nickel copper sulphide project ("Kun-Manie"). 

Derived by the accredited SGS Minerals ("SGS"), these results validate the Alex Stewart Laboratory ("ASL") analytical drill programme results completed at the neighbouring deposits of Ikenskoe / Sobolevsky ("IKEN) and Kubuk ("KUB") as well as the newly discovered orebody ("ISK") that links the two deposits.  Now that the Company is in possession of the original ASL set of results and this critical QAQC information, it has engaged RPM Global ("RPM") to undertake an update of the February 2017 Mineral Resource Estimate ("MRE") along the newly expanded mineralised zone, which has been increased from 1.4 kilometres in length to that of 3.6 kilometres, replacing the MRE's of IKEN and KUB.  The Company anticipates a substantial increase to the MRE of February 2017.

Highlights

·     The accuracy of the 2017 analytical drill results has been established using industry established QAQC procedures.  This included the introduction of uniquely labelled duplicate samples to verify the ability of a laboratory to replicate results for the same sample.  This also allowed the Company to identify any inadvertent errors that may have been introduced over the course of an analytical programme.

·     The Company monitored the quality of the ASL results by the insertion of 178 duplicate uniquely labelled samples (including known barren samples).  For both nickel and copper, this internal control results indicated a minimal difference in the results obtained for both nickel and copper which was less than 1.0% difference.

·     To monitor the quality of mineralised samples, it is noted that for 98 ASL internal control samples in excess of 0.40% nickel, the original sample value was 0.96% versus 0.95% for the duplicate.  Similarly, the copper results for 128 internal control samples at a 0.10% copper cutoff grade (COG"), the original and duplicate values both averaged 0.23% copper.

·     The Company is satisfied that ASL procedures and results provide suitable results and also replicate those reported by the Company based on its internal analyses derived from its Niton XL2500 X-Ray Fluorescence unit ("Niton").

·     The final component of an industry standard QAQC programme is verification of the original independent laboratory results by that of a second accredited independent laboratory.  For this external control, the Company utilised SGS to verify a subset of approximately 5% of the ASL results. For external control, a total of 178 samples were analysed by SGS.

·     For external control on nickel, the SGS average grade was 0.62% whilst ASL averaged 0.63% (a difference of about 2.3%).  At a COG grade of 0.4% nickel (98 samples), ASL reported an average grade of 0.96% and the SGS average grade was 0.94% (a difference of only 2.8%).

·     External control on copper, both SGS and ASL reported an average copper grade of 0.18%.  At a COG grade of 0.10% copper, the average grades were both reported to be 0.23% copper.

·     Globally, the QAQC programme results indicate the original ASL data is reliable and suitable for use in the determination of JORC compatible (December 2012) resource estimation.

·     RPM has been engaged to compile an update to the February 2017 MRE at Kun-Manie.  This update will include all drill information from 2017 replacing the existing IKEN and KUB reported MRE.  The MRE's for the deposits of Maly Kurumkon / Flangovy ("MKF") and Vodorazdelny ("VOD") will remain as reported in the February 2017 update by RPM.

Robin Young, CEO of Amur Minerals, commented:

"With the acquisition of the final Quality Assurance / Quality Control analytical results from SGS Minerals, we are now fully assured that the 2017 independent Alex Stewart Laboratory analytical results meet industry standards and can be used in the calculation of an updated Mineral Resource Estimate.  With this milestone, we have engaged RPM Global to update the February 2017 Mineral Resource at Kun-Manie."

"With drilling having confirmed mineralisation along over 3.6 kilometres of length where only 1.4 kilometres had been previously drill identified, we anticipate a substantial increase in the nickel copper resource of February 2017.  Going into the initiated RPM update, the area was defined to contain about 258,000 nickel tonnes or about a third of our global 770,000 tonne nickel resource inventory."

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

Enquiries:

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

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

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

http://amurminerals.com/content/wp-content/uploads/2017-QAQC-Results.pdf

http://amurminerals.com/content/wp-content/uploads/Audio-25-Jan-2018.mp3

Notes to Editors

The information contained in this announcement has been reviewed and approved by the CEO of Amur, Mr. Robin Young.  Mr. Young is a Geological Engineer (cum laude), a Professional Geologist licensed by the Utah Division of Occupational and Professional Licensing, and is a Qualified Professional Geologist, as defined by the Toronto and Vancouver Stock Exchanges.  An employee of Amur for 13 years, previously Mr. Young was employed as an exploration and mine geologist, mining engineer, construction manager of a mine start-up as well as independent consultant with Fluor Engineers, Fluor Australia and Western Services Engineering, Inc. during which time his responsibilities included the independent compilation of resources and reserves in accordance with JORC standards.  In addition, he has been the lead engineer and project manager in the compilation of numerous studies and projects requiring the compilation of independent Bankable Studies utilised to finance small to large scale projects located worldwide.  Mr. Young is responsible for the content of this announcement, which includes results reported by RPM Global ("RPM"), Alex Stewart Laboratories ("ASL") and SGS Minerals ("SGS").

 

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