Amur Minerals (AMC) has completed all its objectivities set out in its drill programme this season at its nickel copper sulphide Kun-Manie mine in East Russia.
It completed 32,526 meters of drilling via 169 drill holes throughout the mining licence, with 62 holes completed at a drill spacing of 50 m by 50 (a total of 6,742.2 m).
The information is to be used to certify the reserve, compile the Russian feasibility study and obtain mining permissions.
Robin Young, CEO of Amur minerals said: "With the focus on all drilling being done to define Indicated resources, we believe as much as 30 million tonnes of existing Inferred ore may have been converted to Indicated”
He added there was a “potential to increase the mineral resource inventory by up to an additional 25 million tonnes” which should “materially impact the estimated mineral resource of the project”
Shares in AMC were trading at 3.75p each
The linking of deposits at ISK and KUB and the reduction of the waste zone between IIHG and ISK may result in the unification of the three currently identified pits into a single large pit, which will reduce waste stripping and improve the project economics.
Robin Young said "we anticipate that the three pits located at IKEN, ISK and KUB may merge into one large pit, covering a strike length of more than four kilometres. This being possible, it could provide substantially greater potential to selectively mine higher grade production earlier in the mine life”
The company also anticipates an increase in the Mineral Resource Estimate by 25 million, thanks to the newly discovered mineralisation adjacent to its deposits at IIHG, ISK and Western KUB.
The Amur Oblast production licence covers 36 square kilometres, positioned near the three largest nickel consuming nations China, Korea and Japan.
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