Amur Minerals PLC (LON:AMC) has potentially 30% more mineable nickel at one of its main targets at Kun-Manie in Russia than previously estimated, a new study has indicated.
Work by consultant Runge, Pincock, Minarco on the Maly Kurumkon/Flangovy (MKF) deposit has upped the possible mineable nickel reserves by 59,000 tonnes (31%).
Robin Young, chief executive, said that even though the new study included inferred resources, it supported the view that mining using a combination of open pit and underground at three of the MKF’s deposits would enhance the project’s economics.
He added that the study did not include its latest in-fill drilling programme, which would allow conversion of a significant portion of the Inferred portion of the MKF resource to Indicated.
An extension to the mineralised length of the MKF deposit by 900 metres will also boost the ore reserve.
Next steps will be to review the metallurgical results to see if this can further boost the metal recovery levels.
The newly generated RPM estimate for total recovered metal is 252,000t of nickel, a 58,900t increase of the PEA number.