3rd Sep 2015 07:08
LONDON (Alliance News) - East Russia-focused nickel-copper sulphide explorer Amur Minerals Corp on Thursday said the initial results from the drilling programme at the Flangovy project have expanded the mineralised zone at the site by 40%.
The news sent Amur shares up by 15% in early trade to 19.21 pence, one of the best performers in the AIM All-Share.
A step-out hole in the east of the prospect intersected 46.3 metres of 0.97 nickel and 0.26% copper, meaning the mineralised zone at the site is significantly larger than previous estimates.
The total length of the deposit now stands at two kilometres long and remains open to expansion at both its western and eastern limit, the company said.
"The process of infill drilling tends to be a mundane process from which confidence is increased but resource growth potential is limited. This drilling programme was living up to its expectations when considering the results of the first infill holes. However, the step out and expansion of the Flangovy limb of Maly Kurumkon/Flangovy was an extremely positive result," said Amur Chief Executive Robin Young.
By Sam Unsted; [email protected]; @SamUAtAlliance
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