In-Fill Drill Programme to Target Inferred Resources
Amur Minerals Corporation (“Amur”, the “Company” or “AMC”), the exploration and development company focused on base metal projects located in the Far East of Russia, reports it is has completed an internal Conceptual Open Pit Study of the JORC resource at its Kun-Manie nickel copper sulphide project. Three key observations have been derived from the study results. Successful in-fill drilling to convert Inferred resource to Indicated resource should expand the present open pit defined JORC reserve by as much as 70% to a total of 67 million tonnes averaging 0.59% nickel and 0.18% copper. The Inferred resources require in-fill drilling and have been assigned a high priority drill status for conversion to reserves. This will be beneficial to the compilation of a bankable study where a longer mine life is required to cover capital expenditures associated with the project. Also, substantial portions of the resource appear to be suitable for mining using underground methods, which could expand the reserve beyond that indicated to be recoverable by open pit mining. The potential upgraded resource and reserve could sustain a 6.0 million ore tonne per year production rate. The results are based on a new estimate for Q1 2015 operating costs, updated metallurgical recoveries and a toll smelter schedule to process the sulphide concentrate, the study has identified specific areas for drilling within the Maly Kurumkon / Flangovy, Ikenskoe / Sobolevsky and Kubuk deposits. Highlights from the analysis include:
Read more (PDF)
