Amur Minerals (LON:AMC) has sent off the cores of a 60 hole drill programme at the Maly Kurumkon/Flangovy (MKF) deposit at Kun-Manie in Russia as part of a resource upgrade.
Consultant Runge, Pincock, Minarco will analyse the data for MKF, which is the largest of five deposits at Kun-Manie in Far East Russia.
RPM will deliver the new resource in the first quarter of 2017 and include an additional 900 metres of new mineralisation defined by the 2016 drill programme.
Watch: Robin Young explains drilling results
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Initial analytical results from Alex Stewart Laboratories (ASL) over the new drill area showed mineable thicknesses for both an open pit and underground operation.
For the open pit, after cut-offs the average drill interval thickness intersected during 2016 was 13.3m averaging 0.73% nickel and 0.21% copper, while underground there was a mineralised interval thickness of 10.5m averaging 0.88% nickel and 0.24% copper.
Robin Young, Amur’s chief executive, said he expects 'multiple improvements' over the existing MKF resource when the upgrade comes through.
“This includes an expansion of 40% to the length of the high grade resource, a potential increase in the grade of the resource and substantial upgrade of the resource from Inferred to that of Indicated allowing us to fully evaluate the reserve potential of this deposit.
“We are also nearing completion of the final reviews of the resource updates to the Ikenskoe / Sobolevsky, Vodorazdelny and Kubuk deposits.”
Shares rose 12% to 10.4p.
-- updated for detail, share price, video interview --