Amur Minerals Corporation (LON:AMC) said today that drill results on the Kubuk deposit in Russia’s Far East confirmed that there is potential to substantially upgrade and increase the current Mineral Resource Estimate averaging 0.77% nickel and 0.20% copper.
In its third update for the 2017 drill season, the AIM-listed mineral exploration and resource development company - focused on the Kun-Maine project - said the substantial resource expansion potential remains to be drilled immediately to the west of Kubuk, in the direction of the Kinescope/Sobolevsky deposit, leading to the potential confirmation that both are part of a single 4.5 kilometre long deposit.
Robin Young, Amur Minerals’ CEO, commented: "It has been a highly successful drill season. We have substantially expanded our resource at both Ikenskoe/Sobolevsky and Kubuk with the identification of a new mineral extending each deposit by an additional 500 metres.
“The 500 metre extensions could result in a near doubling of the contained nickel metal within these two deposits alone. And this does not include any currently drill defined mineralisation located along two thirds of the target within which we have intersected mineralisation.
“We anticipate a substantial increase over our current global 100 million ore tonne inventory reported within four deposits.”
He added: “Based on infill drill results, we can foresee nearly 90% of our current Mineral Resource Inventory being classified as available to inclusion as a part of the Mining Ore Reserve. Few companies, including major mining companies, have 90% of their resource classified as Measured and Indicated.
“We look forward to providing the next drill update which should allow us to provide a comprehensive picture of this newly emerging large deposit.''