6th Jun 2007 10:55
Amur Minerals Corporation06 June 2007 06 June 2007 Amur Minerals Corporation ("Amur" or "the Company") Field Season begins at Kun-Manie and Anadjakan Amur (AIM: AMC) announces that drilling has begun at Kun-Manie whilstreconnaissance geologic work at the Company's recently acquired AnadjakanGold-Copper project has also been initiated. The primary goals for drilling atKun-Manie in 2007 are: •resource expansion in the Maly Krumkon area; •continued development drilling at Ikenskoe and Vodorazdelny; and •scout drilling at Yan Hegd. In addition, an independently compiled pre-feasibility report on Kun-Manie isexpected to be complete in late June or early July. In March, Amur announced a contract with Dalgeophysica for 5,500 metres ofdrilling. This year will be the Company's fourth field season on the project.The previous three seasons - which totalled approximately 12 months' worth offield work executed during summer months - have taken Kun-Manie from agrassroots prospect to a resource of 53.3 million tonnes of near-surfacemineralisation containing 254,500 tonnes of nickel and 73,000 tonnes of copper. Separately, the Company reports that at its Annual General Meeting held 29 May,all resolutions were passed. Robin Young, Amur's Chief Executive Officer, commented: "We enter this fieldseason with great optimism. Not only have the previous 12 total months of fieldwork at Kun-Manie delivered extraordinary results, but we are expecting to seemore tangible results in the pre-feasibility study and advancing our projecttowards production." The information contained in this announcement has been reviewed and approved bythe CEO of Amur, Robin Young. Mr. Young is a Geological Engineer (cum laude) andis a Qualified Professional Geologist, as defined by the Toronto and VancouverStock Exchanges. Enquiries: Co-Broker Nomad and Co-Broker Public Relations Amur Minerals Corp. Fox-Davies Capital Limited RBC Capital Markets Parkgreen Communications Robin Young CEO Daniel Fox-Davies Andrew Smith Clare Irvine Martin Eales +44 (0) 7981 126 818 +44 (0) 20 7936 5200 +44 (0) 20 7029 7881 +44 (0) 20 7851 7480 Notes to Editors About Amur Minerals Amur's principal asset is the 100% owned Kun-Manie exploration licence, anickel-copper deposit located in the Amur Province in the far east of theRussian Federation. The Kun-Manie licence area is approximately 950 km(2) and islocated 700 km northeast of the capital city of Blagoveshchensk and is 750kmnorth of the Chinese border. In April 2004 ZAO Kun-Manie, a wholly ownedsubsidiary of Amur, was granted a licence to explore for nickel and relatedmetals, including copper and platinum, in respect of the Kun-Manie licence. Work carried out to date on the Kun-Manie licence including diamond coredrilling, trenching and geological mapping has identified four mineralisedtargets; the Vodorazdelny, Ikenskoe, Maly Krumkon and Falcon zones, three ofwhich warrant further exploration as the limits of the mineralisation have notbeen identified. The four zones are located within a 15 kilometre long segmentof the 40 kilometre long Krumkon Trend. This trend is the primary explorationtarget within the licence area. An additional three targets identified asChornie Ispelene, Yan Hegd and Kubuk (also referred to as Ata) have beenidentified as additional drill targets. Chornie Ispelene and Kubuk lie withinthe trend whilst Yan Hegd is located approximately 8 kilometres to its north.Approximately 50% of the Krumkon Trend remains to be examined by reconnaissancework where existing Soviet data indicates potential exists to identifyadditional drill targets. Exploration drill results have been utilised by SRK Consulting to calculateresources. These include resources of the Measured, Indicated and Inferredcategories which have been estimated for the deposits of Vodorazdelny, Ikenskoeand Maly Krumkon. Effective January, 2007, the independently compiled ResourceEstimate consists of a total of 53.3 Mt at a mean grade of 0.48% nickel and0.14% copper containing 254,500 tonnes of nickel; and 73,000 tonnes of copper.This is summarised in the following table. SRK Consulting's 2006 Year End Resource Report =========== ======== ====== ====== ===== ======Orebody Tonnage Ni Ni Cu Cu (Mt) (%) (t) (%) (t) =========== ======== ====== ====== ===== ======VodorazdelnyIndicated 5.9 0.71 41,800 0.20 11,800 IkenskoeMeasured 3.7 0.61 22,700 0.16 5,800Indicated 26.8 0.42 111,300 0.12 32,700Sub-total 30.5 0.44 134,000 0.13 38,500Inferred 5.9 0.49 28,700 0.13 7,500Total Ikenskoe 36.4 0.45 162,700 0.13 46,000 Maly KrumkonInferred 11.0 0.45 50,000 0.14 15,200 Total Measured 3.7 0.61 22,700 0.16 5,800Total Indicated 32.7 0.47 153,100 0.14 44,500Total Inferred 16.9 0.47 78,700 0.13 22,700Grand Total 53.3 0.48 254,500 0.14 73,000----------- -------- ------ ------ ----- ------ Presently, Amur is compiling a prefeasibility study on the Kun-Manie Project tobe completed in the second quarter of 2007. Concurrently, work is also beingconducted on the assembly of a report to be submitted to the State Committee onReserves (GKZ). Upon approval, the GKZ shall issue a certificate of "Discovery".This certification allows the Company to continue along the process ofconverting portions of the exploration licence into a mining licence. Immediately to the east of the Kun-Manie licence and across the Amur Oblast andKhabarovsk Krai border, Amur has acquired the Kustakskaya Project. This 1,034square kilometre, 25 year exploration and production licence contains twogeological terrains. Each terrain contains a different mineralisation typetarget. The southern half of the licence is interpreted to be a continuation ofthe Krumkon Trend identified within the Kun-Manie exploration licence. Thenorthern half of the licence area contains Mesozoic granitic intrusives whereinhistorical Russian results indicate the potential for copper, cobalt and minornickel to be present. The Company will undertake field exploration of thislicence area in 2008 in accordance with the terms of the licence. Havingrecently acquired this licence, the Company places no value on this property. Amur also controls the Anadjakan gold-copper exploration licence in KharaborvskKrai near the well-infrastructured city of Elban. The Company chooses not toreport any value on this asset until it concludes its comprehensive review ofall information and verifies existing Russian results. The 2007 explorationprogramme for this area is designed to check the historical results and definefuture drill targets. The exploration of this licence area will begin during the2007 field season. This information is provided by RNS The company news service from the London Stock Exchange