2012 Drilling Doubles Length of Maly Kurumkon

RNS Number : 6348T

Amur Minerals Corporation

17 December 2012

 



17 December 2012

AMUR MINERALS CORPORATION

("Amur" or the "Company")

2012 Drilling Doubles Length of Maly Kurumkon Deposit

Potential for Expansion Remains

Amur Minerals Corporation (AIM: AMC), the nickel-copper sulphide exploration and resource development company focused on the far east of Russia, is pleased to announce that the 2012 drill results at its Maly Kurumkon deposit have doubled the strike length to at least two kilometres.  Drilling has also indicated that the newly drilled area contains higher nickel and copper grades than previously intersected before this year.  Maly Kurumkon is one of three drilled deposits located within the Company's Kun-Manie exploration licence area.

Highlights:

·     A total of 4,149 metres of drilling in 23 holes have been completed in a 1.5 kilometre long area immediately east of Maly Kurumkon (referred to as the Flangovy Block).  Results confirm that the mineralisation extends eastward along strike for a total of two kilometres, doubling the previously drill defined length within the 2007 Pre Feasibility Study ("PFS").

·     Historical and 2012 drill results indicate that that mineralisation at Maly Kurumkon remains open along strike in both directions and at depth providing the Company with the potential to further increase the resource at this deposit.

·     In the Flangovy Block, the mineralised drill intersections of note from this year have identified that:

o  Average mineralised thickness is 9.4 metres containing average grades of 0.73% nickel and 0.19% copper.  Most holes contain multiple discrete intervals and have a combined average mineralised thickness of 23.3 metres per hole 

o  Nickel grade of 0.73% is 46% higher than the average grade reported within the Maly Kurumkon pit (0.50% Ni)

o  Copper grade at 0.19% is 36% higher than has been estimated within the Maly Kurumkon the pit (0.14% Cu)

·     Higher grade intercepts are abundant throughout the Flangovy Block:

o  C202-1 contains 52.6 metres of 0.92% Ni and 0.24% Cu

o  C206-2 contains 67.1 metres of 0.88% Ni and 0.22% Cu

o  C210-1 contains 46.3 metres of 0.97% Ni and 0.27% Cu

o  Intervals in excess of 1.0% Ni have an average thickness of 2.9 metres with grades of 1.26% Ni and 0.37% Cu.  Approximately 30% of the mineralised intervals are in excess of 1.0%

During the 2012 season, 23 holes totaling 4,149 metres were completed within the 1.5 kilometre long Flangovy Block located contiguous with and immediately east of the Maly Kurumkon deposit contained within the 2007 PFS.  The PFS defined a proposed pit approaching 850 metres in length containing an estimated 17.5 million tonnes of mineralisation averaging approximately 0.50% nickel and 0.15% copper.

Newly acquired analytical results indicate that the Flangovy Block contains higher nickel and copper grades than estimated at Maly Kurumkon within the 2007 PFS.  A significant number of mineralised intervals in excess of 1.0% nickel are present and could suggest the potential for the Company to consider underground production in combination with the proposed open pit configuration. 

Historical and the 2012 drill results have not yet identified the limits of the mineralisation at Maly Kurumkon.  Given that these limits have not yet been defined along strike to the east, the west and down dip, there is further potential to identify resources in future step out exploration efforts.

The drill results will be provided to an external independent consultant for an update of the resource and reserve when the remaining drill results from Gorny and Ikenskoe are in hand.  It is anticipated that the analysis will ultimately identify that Maly Kurumkon is the largest mineralised zone drilled to date.  The resource and reserve work is anticipated to be completed near the end of Q1 2013.  Results will be released as they become available.

A map of the mineralisation is presented in the Notes for Editors below.  Also, a summary of the drill hole results intersecting mineralisation in excess of 0.2% and 1.0% nickel have been provided for the holes completed in 2012.

Robin Young, CEO of Amur Minerals, commented:

"It is with pleasure the Company announces that 2012 drilling has indicated that the Maly Kurumkon deposit is significantly larger than previously indicated. Substantially higher grade intervals of over one per cent nickel have been encountered. This in conjunction with the improved metallurgical recoveries reported earlier this year should have a significant positive impact on the project economics. We are awaiting the final drill results from the Gorny area, located two kilometres to the east of the Maly Kurumkon Flangovy area. Our geologists believe Gorny may also be a continuation of the expanded Maly Kurumkon deposit. A resource and reserve update will be initiated shortly and results will be reported as they become available in Q1 and Q2 2013."

Enquiries:

Company Amur Minerals Corp.	Nomad and Joint Broker RBC Capital Markets	Joint Broker Merchant Securities	Public Relations Tavistock
Robin Young CEO	Martin Eales	Lindsay Mair	Jos Simson / Jessica Fontaine
[phone]	[phone]	[phone]	[phone]

Notes for Editors

Qualified Person

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.  He has 36 years of relevant experience in and mine experience. 

http://www.rns-pdf.londonstockexchange.com/rns/6348T_-2012-12-16.pdf
Kurumkon / Flangovy Drill Results

17 December 2012

0.20% Nickel Cut Off Grade

Drill Interval Summary

Alex Stewart Laboratory Results

Cut Off Grade of 0.20% Nickel

The information presented below is based on a nickel only cut off grade of 0.20% Ni.  A minimum mineralised length of 3.0 metres has been used.  Internal waste has been included in determination of the average interval grades if the waste interval is less than three metres in length. 

Hole #	From (m)	To (m)	Length (m)	Ni %	Cu %
C197	15.1	21.2	6.1	0.46	0.14
C197	38.6	46.8	8.2	1.00	0.43
C197	50.0	62.6	12.6	0.82	0.26
C197K	15.1	21.2	6.1	0.37	0.09
C197K	38.6	48.5	9.9	1.00	0.23
C197K	51.5	61.2	9.7	0.88	0.21
C198	57.8	68.8	11.0	0.68	0.20
C198	76.0	84.5	8.5	0.84	0.20
C199	99.9	105.1	5.2	0.95	0.22
C199	116.3	123.7	7.4	0.78	0.19
C201	39.7	42.7	3.0	0.21	0.05
C202	75.3	79.8	4.5	0.70	0.23
C202	106.8	109.8	3.0	0.23	0.13
C202	148.5	153.0	4.5	0.78	0.15
C202-1	137.3	146.5	9.2	0.59	0.38
C202-1	161.1	213.7	52.6	0.92	0.24
C202-2	202.4	219.2	16.8	0.64	0.16
C204	208.2	215.0	6.8	0.56	0.21
C204-1	184.9	198.3	13.4	0.41	0.17
C204-1	220.8	224.9	4.1	0.31	0.16
C204-1	236.9	245.5	8.6	0.60	0.26
C204-1	254.9	263.9	9.0	0.29	0.12
C204-1	274.4	298.6	24.2	0.72	0.23
C206-1	88.3	92.7	4.4	0.44	0.12
C206-2	176.3	186.2	9.9	0.30	0.09
C206-2	222.9	253.4	30.5	1.01	0.03
C206-2	260.2	265.4	5.2	0.33	0.10
C206-2	268.8	285.5	16.7	0.92	0.21
C206-2	291.5	298.2	6.7	1.24	0.21
C210	41.0	44.5	3.5	0.33	0.12
C210	118.0	125.7	7.7	0.27	0.12
C210-1	154.3	169.3	15.0	1.10	0.27
C210-1	175.8	191.5	15.7	0.96	0.26
C210-1	196.3	203.7	7.4	0.95	0.25
C210-1	215.1	223.3	8.2	0.76	0.28
C211	51.2	54.2	3.0	0.28	0.11
C211	153.1	156.1	3.0	0.40	0.15
C190	101.4	104.4	3.0	0.20	0.08
C190	148.3	151.3	3.0	0.22	0.13
C190	200.5	203.6	3.1	0.44	0.14
C191	209.5	212.5	3.0	0.29	0.14
C191	294.7	297.7	3.0	0.22	0.06
Average Intercept			9.4	0.73	0.19
Average Per Hole			23.3	0.73	0.19

Kurumkon / Flangovy Drill Results

17 December 2012

1.0% Nickel Cut Off Grade

Drill Interval Summary

Cut Off Grade of 1.0% Nickel

The information presented below is based on a nickel only cut off grade of 1.0% Ni.  The minimum length used to determine the drill intercept length was 0.5 metres.  Internal waste has not been included.

Hole #	From (m)	To (m)	Length (m)	Ni %	Cu %
C197	40.1	43.2	3.1	1.38	0.55
C197	53.3	54.0	0.7	1.15	0.24
C197	54.8	58.3	3.5	1.31	0.34
C197K	38.6	43.2	4.6	1.59	0.30
C197K	54.8	57.8	3.0	1.35	0.26
C198	60.5	65.2	4.7	1.30	0.37
C198	81.8	83.5	1.7	1.79	0.42
C199	101.4	103.0	1.6	1.09	0.24
C199	104.0	105.1	1.1	1.04	0.25
C199	119.4	120.9	1.5	1.01	0.16
C202	75.3	76.8	1.5	1.16	0.31
C202	151.5	153.0	1.5	1.36	0.18
C202-1	139.3	140.3	1.0	1.84	0.44
C202-1	162.1	164.7	2.6	1.20	0.20
C202-1	169.0	170.5	1.5	1.17	0.21
C202-1	172.0	173.5	1.5	1.10	0.25
C202-1	175.0	184.0	9.0	1.10	0.26
C202-1	188.5	193.0	4.5	1.15	0.27
C202-1	197.5	202.0	4.5	1.14	0.27
C202-1	206.5	208.0	1.5	1.01	0.29
C202-1	209.5	212.8	3.3	1.15	0.31
C202-2	207.2	209.9	2.7	1.22	0.31
C202-2	218.3	219.2	0.9	1.09	0.18
C204-1	284.1	285.4	1.3	1.06	0.24
C204-1	286.4	287.9	1.5	1.04	0.33
C204-1	289.4	293.2	3.8	1.37	0.29
C204-1	295.1	296.3	1.2	1.05	0.77
C206-2	224.9	232.4	7.5	1.43	0.40
C206-2	245.9	250.3	7.5	1.43	0.40
C206-2	252.2	253.4	1.2	1.08	0.24
C206-2	271.4	277.4	6.0	1.17	0.24
C206-2	280.4	281.6	1.2	1.03	0.20
C206-2	283.4	285.5	2.1	1.25	0.26
C206-2	291.5	296.8	5.3	1.37	0.23
C210-1	155.8	164.8	9.0	1.36	0.30
C210-1	177.1	181.3	4.2	1.10	0.25
C210-1	182.8	184.3	1.5	1.10	0.17
C210-1	188.8	190.3	1.5	1.36	0.23
C210-1	199.3	201.7	2.4	1.10	0.30
C210-1	202.5	203.7	1.2	1.11	0.24
C210-1	217.6	218.8	1.2	1.01	0.17
C210-1	220.3	221.7	1.4	1.24	0.37
Average Intercept			2.9	1.26	0.37
Average Per Hole			12.3	1.26	0.37

 

END

 

 

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