logo-loader

Amur Minerals eyes increase in deposit at Kun-Manie after successful step-out

Published: 08:33 03 Sep 2015 BST

174600
One 'step out' hole 400 metres to the east of the last main intercept had indicated significant mineralisation

Amur Minerals (LON:AMC) said first results from this year’s drill programme at Flangovy at Kun-Manie in Far East Russia had confirmed the deposit is larger than previously reported.

Three holes were drilled, but one 'step out' hole 400 metres to the east of the last main intercept had indicated significant mineralisation and extends the Flangovy area of the Maly Kurumkon/ Flangovy deposit by 40% to 1,250 metres (m).

That hole (C306) intersected three sulphide horizons containing a total of 46.6m of mineralisation, averaging 0.8% nickel and 0.2% copper. 

The total length of the deposit at Maly Kurumkon/Flangovy, one of the moan zones at Kum-Manie, now stands at two kilometres long and remains open to expansion at both its western and eastern limits, Amur said. 

Flangovy is projected to contain approximately 29mln tonnes of ore at an average nickel grade of 0.55% and a copper grade of 0.16% over a length of 850 to 900m, but the successful step out is likely to add substantially to the 120mln tonnes already identified overall at Kun-Manie. 

The remainder of the 2015 drill programme will be drilled from east to west, Amur said, though after the results at C306 it had decided to complete a  nearby hole (C305) to target the the recent indications at a greater depth. 

Robin Young, Amur’s chief executive, said the step out and expansion of the Flangovy limb of Maly Kurumkon/ Flangovy was an extremely positive result. 

“A 40% expansion in the Flangovy area could result in an increase in resource and add another two to three years of production which in turn may provide higher metal delivery to the plant sooner than anticipated.”

Accesso's landmark deal with SEVEN marks strategic growth in the Saudi Market

Accesso Technology Group PLC (AIM:ACSO, OTC:LOQPF) chief executive Steve Brown joins Proactive's Stephen Gunnion with details of a significant partnership with Saudi Entertainment Ventures (SEVEN). Brown noted the collaboration highlights accesso's strategy to grow its global footprint,...

8 minutes ago