3 July 2013
AMUR MINERALS CORPORATION
(AIM: AMC)
Early Positive Kubuk Results Doubles 2013 Drill Plan
Amur Minerals Corporation ("Amur" or the "Company"), a nickel-copper sulphide mineral exploration and resource development company focused on the far east of Russia, is pleased to provide an update on its 2013 drill progress at its Kubuk target.
Highlights:
· As a result of preliminary analyses, the initial discovery holes having intersected substantial thicknesses of mineralisation at higher than average grades and mineralisation being near surface, the Company intends to double the planned metres for Kubuk from 2,500 to 5,000 metres;
· Orientation of the mineralised structure is more shallowly dipping than originally interpreted, which is more favourable to open pit mining and the thickest intercepts are located immediately down dip of the trenches at shallower depths of up to 100 metres;
· Niton XL2 500 X-Ray Fluoresence unit ("RFA") results from the ten holes located in the easternmost area of Kubuk contain mineral with average thicknesses of 28 metres per hole containing 0.7% nickel and 0.2% copper. The average interval thickness is 13.4 metres, with some holes containing more than one mineralised zone;
· Plus 1.0% nickel has been encountered within a total of 76.6 drilled metres, averaging 1.2% nickel and 0.4% copper. More than 25% of the intervals containing a minimum of 0.2% nickel exceed 1.0% nickel content and indicate that approximately 47% of the total contained metal is present within these high grade intervals; and
· Hole C237 contains the largest and among the highest grade with a total of 67 metres of mineralisation averaging approximately 1.1% nickel and 0.3% copper.
The Board reports on one of the largest and highest quality anomalies defined within the Kurumkon Trend, located at its Kun-Manie exploration licence, where substantial thicknesses of mineralisation at higher than average grades have been located near the surface. The Company reports that it will double the planned metres for Kubuk from 2,500 to 5,000 metres.
In addition, early assessments indicate the greater thickness and higher grades are located within 100 to 150 metres of the mineralisation exposed in the trenches, a configuration highly suited for open pit mining and which requires shallower exploration drill holes to define the presence or absence of mineralisation.
As reported at the time of the Company's 12 June 2013 statement, Amur commenced drilling on the Kubuk target within the Kurumkon Trend located at its Kun-Manie exploration licence. The Kubuk target area is one of the largest and highest quality anomalies defined within the Trend. As of 25 June 2013, 12 holes have been completed containing a total 1,813 metres of which ten holes containing 1,281 metres have been analysed using the Company's RFA. Within the ten analysed holes, approximately 282 metres contain nickel and copper in excess of 0.2% nickel averaging 0.7% nickel and 0.2% copper.
Drilling began at Kubuk on 29 May 2013 and has continued on an uninterrupted basis. Twelve holes containing 1,813 total metres have been completed as of 25 June 2013 with 10 having been analysed for nickel and copper using the Company's RFA unit located at its sample preparation facility on site.
Drilling has initially been focused on the easternmost 200 metre wide area of the 2013 Kubuk target area, adjacent and down dip of two existing trenches. The trenches are located 100 metres apart and are two of several located along a 750 metre long out crop extending to the west. Globally, the trenches have exposed an average mineralised length of 48.3 metres, containing average grades of 0.63% nickel and 0.16% copper as defined by Alex Stewart Laboratories, Moscow, Russia.
The 10 analysed core holes contain approximately 282 mineralised metres with potential economic grades in excess of 0.2% nickel, as established by the RFA unit at site. All 10 holes contain at least one mineralised interval. The average total metres of mineralisation per analysed hole are 28.2 metres with the average discrete interval thickness being 13.4 metres. The average grades are indicated to be 0.7 nickel and 0.2% copper.
Detailed analysis of the RFA unit results also indicates that plus 1.0% nickel intervals are present within the drilled holes. Seven holes contain an average total plus 1.0% nickel and a thickness of 10.9 metres with the average individual intercept averaging 3.8 metres. The average grade of these high grade intervals is 1.2% nickel and 0.4% copper. To date, the higher grade intervals contain nearly 47% of the mineral identified in the ten holes.
Sectional interpretation and 3D assessment of the distribution of the metal thus far defined indicates the greater thickness and higher grades are located within 100 to 150 metres of the mineralisation exposed in the trenches. This configuration is highly suited for open pit mining and requires shallower exploration drill holes to define the presence or absence of mineralisation. Due to this configuration and the highly positive results, the Company has refined the 2013 drill programme and now intends to double drilling at Kubuk from 2,500 metres to 5,000 metres. Step out drilling is planned to be conducted on a closer spacing and to encompass the entire area where trenches indicate the presence of mineralisation. Holes will also be completed to collect material for metallurgical test work.
The samples for the first 10 holes were delivered via helicopter to Khabarovsk, Russia on 29 June 2013 and are being transshipped to Alex Stewart Laboratories ("ASL") for final analysis which is both certified and suitable for use in resource and reserve estimation. Results will be provided to the market when available.
At the bottom of this statement, the results from the RFA unit are provided as are the discrete intervals of higher grades. In addition, a link is provided here for accompanying schematics of the Kubuk drill progress: www.amurminerals.com
The Company cautions readers that while the mineralisation is indicated to be present, definitive analytical results establishing the final economic grades of metal will be derived from the certified Alex Stewart Laboratory located in Moscow, Russia. The RFA values reported herein are therefore indicative and are not the final results that would be used in a resource and reserve estimate.
Robin Young, CEO of Amur Minerals, commented:
"The early stage results at Kubuk are encouraging and have so far supported the reconnaissance surface work previously completed in the area. The presence of the larger thicknesses and higher grades immediately adjacent to the trenches, has resulted in our decision to double our drilling plan in the area and we shall continue drilling within this area for a good portion of our season. The Board looks forward to providing added interim drill updates and at a point in the future, calling this our newest discovery containing additional resources and reserves."
Enquiries:
Company Amur Minerals Corp. |
Nomad and Joint Broker S.P. Angel Finance |
Joint Broker Sanlam Securities UK Ltd |
Public Relations Yellow Jersey |
Robin Young CEO |
Ewan Leggat Laura Littley |
Lindsay Mair |
Dominic Barretto Anna Legge |
+44 (0) 7981 126 818 |
+44 (0) 20 3463 2260 |
+44 (0) 20 7628 2200 |
+44 (0) 77 6853 7739 |
Notes to Editor
Available for view on www.amurminerals.com are drawings of drill results accumulated to date within the Company's Kun-Manie licence area at Kubuk. Please use the following link in your web browser to access these drawings:
Web link: http://www.rns-pdf.londonstockexchange.com/rns/4504I_-2013-7-2.pdf
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.
The Accuracy and Acceptability of RFA Results
The Company cautions readers on the accuracy and acceptability of its Niton XL2 500 X-Ray Fluoresence units ("RFA") derived results. Even though geological examination of the drill core has confirmed that the host structure is present, definitive analytical results will be attained when certified laboratory analyses are provided by Alex Stewart Laboratories (ALS). The results derived from the RFA at site are considered to be preliminary but within the range of acceptable accuracy for selecting the limits of the mineralised zones and defining the potential grade of the samples tested.
Procedures include calibration of the unit at the beginning and end of each shift, a manufacturer set of standards are checked to verify proper reporting and that there was no drift during the course of the shift. In addition, ASL derived results from previous and on-going assaying programmes are checked using the RFA unit. The Company updates its control sample set using newly acquired sample results from ASL. During 2012, the difference between the RFA unit and ASL were within 10% of one another.
The reported values provided in this statement have been given an accuracy of one significant digit due to the potential variability of the unit. Final certified ALS results may differ from those reported in this statement.
Kubuk RFA Drill Core Results
3 July 2013
Diamond Core Hole Results 0.2% Ni Cut Off Grade |
Diamond Core Hole Results 1.0% Ni Cut Off Grade |
Hole # |
From |
To |
Length (m) |
Ni% |
Cu% |
From |
To |
Length (m) |
Ni% |
Cu% |
C234 |
13.0 |
48.0 |
35.0 |
0.5 |
0.2 |
39.0 |
40.5 |
1.5 |
1.1 |
0.3 |
C234-1 |
18.0 |
48.0 |
30.0 |
0.8 |
0.2 |
19.5 |
22.5 |
3.0 |
1.1 |
0.3 |
|
24.0 |
28.5 |
4.5 |
1.3 |
0.4 |
33.0 |
36.0 |
3.0 |
1.0 |
0.3 |
C235 |
35.5 |
61.8 |
26.3 |
0.6 |
0.3 |
40.0 |
44.5 |
4.5 |
1.2 |
0.4 |
|
58.0 |
61.8 |
3.8 |
1.2 |
0.4 |
C236 |
18.0 |
60.0 |
42.0 |
0.8 |
0.3 |
21.0 |
24.0 |
3.0 |
1.3 |
0.3 |
|
25.2 |
30.0 |
4.8 |
1.1 |
0.3 |
34.5 |
36.0 |
1.5 |
1.1 |
0.4 |
37.5 |
43.5 |
6.0 |
1.3 |
0.4 |
52.5 |
54.0 |
1.5 |
1.1 |
0.4 |
57.0 |
58.2 |
1.2 |
1.2 |
0.3 |
C237 |
46.0 |
88.5 |
42.5 |
1.1 |
0.3 |
48.0 |
53.5 |
5.5 |
1.3 |
0.3 |
|
62.5 |
71.6 |
9.1 |
1.4 |
0.4 |
73.0 |
82.0 |
9.0 |
1.4 |
0.4 |
83.5 |
86.5 |
3.0 |
1.1 |
0.4 |
C237 |
97.0 |
116.5 |
19.5 |
0.9 |
0.3 |
99.3 |
106.0 |
6.7 |
1.1 |
0.3 |
|
112.7 |
113.7 |
1.0 |
1.0 |
0.4 |
C238 |
110.5 |
113.5 |
3.0 |
0.3 |
0.1 |
No +1.0% Intervals |
C238 |
137.2 |
139.0 |
1.8 |
0.3 |
0.1 |
C238 |
140.5 |
145.0 |
4.5 |
0.4 |
0.2 |
C238 |
147.2 |
152.6 |
5.4 |
0.5 |
0.2 |
C233 |
97.0 |
122.0 |
25.0 |
0.6 |
0.3 |
113.5 |
115.0 |
1.5 |
1.1 |
0.5 |
|
119.5 |
122.0 |
2.5 |
1.4 |
0.6 |
C239 |
137.5 |
143.5 |
6.0 |
0.5 |
0.2 |
No +1.0% Intervals |
C240 |
85.0 |
86.5 |
1.5 |
0.3 |
0.2 |
No +1.0% Intervals |
C240 |
89.2 |
90.7 |
1.5 |
0.4 |
0.1 |
C240 |
93.9 |
98.9 |
5.0 |
0.6 |
0.2 |
C240 |
107.9 |
121.0 |
13.1 |
0.5 |
0.2 |
C241 |
109.0 |
112.0 |
3.0 |
0.4 |
0.1 |
No +1.0% Intervals |
C241 |
125.5 |
128.5 |
3.0 |
0.3 |
0.1 |
C241 |
130.0 |
134.5 |
4.5 |
0.7 |
0.2 |
C241 |
136.0 |
143.5 |
7.5 |
0.5 |
0.3 |
C241 |
145.0 |
146.5 |
1.5 |
0.6 |
0.1 |
C230 |
RFA Results Pending |
C242 |
Average for 10 Holes |
28.2 |
0.73 |
0.24 |
Average +1.0% Ni 7 Holes |
10.9 |
1.24 |
0.37 |
Average Interval |
13.4 |
0.73 |
0.24 |
Average +1.0% Ni Interval |
3.8 |
1.24 |
0.37 |
