Amur Minerals Corp (LON:AMC) has started a new resource assessment process for the Kun Manie project in Russia’s Far East and it told investors to expect a substantial upgrade from last February’s estimate.
Last year’s estimate was based on deposits with a total strike length of 1.4 kilometres, whereas, following new data from the 2017 drill campaign the new assessment will estimate resources across an expanded 3.6 kilometres.
Amur highlighted that the new estimates will cover the Ikenskoe / Sobolevsky (IKEN) and Kubuk (KUB) deposits as well as a newly discovered orebody (ISK), which links the other two deposits.
"With drilling having confirmed mineralisation along over 3.6 kilometres of length where only 1.4 kilometres had been previously drill identified, we anticipate a substantial increase in the nickel copper resource of February 2017,” said chief executive Robin Young.
“Going into the initiated RPM update, the area was defined to contain about 258,000 nickel tonnes or about a third of our global 770,000 tonne nickel resource inventory."
The company is proceeding with the mineral estimation process because it has now received the final quality assurance / quality control analytical results for the 2017 campaign, and it has now commissioned consultant RPM Global to provide the new reports.
In late afternoon trading, Amur Minerals' shares held steady at 7.3p.
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