Among Largest 20 Nickel Sulphide Projects In World
Amur Minerals Corporation (“Amur” or the “Company”), the nickel copper exploration and development company focused on base metal projects located in the far east of Russia, is pleased to announce its update of the Reserve Statement for the nickel and copper sulphide deposits of Kun-Manie. The Company determined Proved and Probable Reserve (“Reserve”) has increased by 25% to 39.2 million ore tonnes containing 219,000 tonnes of nickel and 58,100 tonnes of copper. The increase in contained nickel has resulted in making Kun-Manie one of the largest nickel sulphide projects in the world with the potential for further expansion of the Reserve by positive infill drilling of Inferred Resources. Reserve definition has been based on the Company’s internal calculation of Earnings Before Income, Tax, Depreciation and Amortisation (“EBITDA”). Runge, Pincock, Minarco (“RPM”) assisted the Company, in evaluation of the Reserve. The updated Reserve is not considered to be JORC compliant until sign off by a Competent Person (as defined by the JORC Code).
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