27 February 2015
AMUR MINERALS CORPORATION
(AIM: AMC)
Company Prepared for Detailed Exploration
Amur Minerals Corporation ("Amur" or the "Company"), the exploration and development company focused on base metal projects located in the Far East of Russia, reports that it is prepared and capable to undertake an exploration drilling programme ("Project") at its nickel - copper sulphide Kun-Manie project during the 2015 field season. As per the requirement of the "Detailed Exploration and Production Licence" ("Production Licence"), the Company must provide an exploration / development programme ("The Project") leading to project implementation. With this document and the final award of the Production Licence, which is currently in the final stage of review by the Government of Prime Minister Dmitry Medvedev, the Company can initiate field operations. Using available equipment, spares and the purchase of support materials, the Company is now positioned to undertake up to 6,000 metres of drilling during 2015.
Whilst awaiting the final decision of the Russian Government on the award of the Production Licence, the Company has defined a detailed exploration programme for Kun-Manie. The programme covers all deposits and additional areas of mineral potential and will serve as the basis for conducting detailed exploration. The document, which is almost finalised, will be an integral part of the development programme. The Project plan includes consideration of metallurgical test work and design planning options.
By compiling the plan in advance of the award of the Production Licence, the Company is in position to swiftly mobilise and conduct a drill programme during the 2015 field season. Typically, field work begins in early June of each year when sufficient water from thawing streams is available for drilling. By proactively preparing the necessary documentation, work can begin on a timely basis.
The Company has sufficient fuel and supplies for a total of 6,000 metres of drilling during the field season. "Detailed Exploration" will be initiated at the Maly Kurumkon / Flangovy deposit, which contains nearly 45% of the presently identified mineralization. The total JORC 2013 resource is approximately 830,000 tonnes of nickel equivalent metal. In-fill drilling of Inferred Resources (converting to Indicated) and step-out drilling to define the lateral extent of the mineralisation are planned.
By compiling the required documentation in advance of the award of the Production Licence, this ensures the Company can undertake a field season upon award of the Production Licence. Typically, the Company-owned drill rig averages from 1,250 to 1,750 metres monthly at a cost of approximately $50 per metre. Four months of drilling are planned, with the optimal season ranging from late May through to November 2015.
Robin Young, CEO of Amur Minerals Corporation, commented:
"Amur is ready to undertake further detailed exploration at Kun-Manie during 2015. By proactively compiling all of the necessary documentation in advance of the award of the Production Licence and currently having sufficient drill inventory, we anticipate the completion of up to 6,000 metres of drilling in the largest ore body thus far defined to be present within the anticipated production licence boundary. Low-cost drilling should expand both the resource and reserve at Maly Kurumkon / Flangovy. The effort will also target underground mineable potential below the preliminarily defined open cast pits. We are ready to advance this project under our stewardship."
Enquiries:
Company Amur Minerals Corp. |
Nomad and Broker S.P. Angel Corporate Finance LLP |
Public Relations Yellow Jersey |
Robin Young CEO |
Ewan Leggat Katy Birkin |
Dominic Barretto Kelsey Traynor |
+44 (0) 7981 126 818 |
+44 (0) 20 3470 0470 |
+44 (0) 77 6853 7739 |
Notes to Editors
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.
For further information, see the Company website at www.amurminerals.com.
