Stock Market News
Amur Minerals pledges 'substantial increase' to resource estimates
Natural resources exploration and development company Amur Minerals told investors to expect a "substantial increase" to previously announced resources estimates after quality assurance/quality control (QAQC) analytical results for its 2017 drill seasons uncovered new resources.
AMC pointed out that as earlier estimates were based on deposits with a total strike length of 1.4km, and that the new assessment covered a strike of 3.6km as a result of recent discoveries at the neighbouring Ikenskoe/Sobolevsky and Kubuk orebody deposits, the QAQC had shown a significant jump in resource estimates.
SGS Minerals, which ran the external control on AMC's nickel, found an average grade of 0.62% compared to the earlier Alex Stewart Laboratory (ASL) results of 0.63%, a difference of about 2.3%.
In terms of external control on copper, both SGS and ASL reported an average copper grade of 0.18% at a COG grade of 0.10% copper.
Robin Young, chief executive of Amur Minerals, said, "With the acquisition of the final Quality Assurance / Quality Control analytical results from SGS Minerals, we are now fully assured that the 2017 independent Alex Stewart Laboratory analytical results meet industry standards and can be used in the calculation of an updated Mineral Resource Estimate. With this milestone, we have engaged RPM Global to update the February 2017 Mineral Resource at Kun-Manie."
"With drilling having confirmed mineralisation along over 3.6 kilometres of length where only 1.4 kilometres had been previously drill identified, we anticipate a substantial increase in the nickel-copper resource of February 2017. Going into the initiated RPM update, the area was defined to contain about 258,000 nickel tonnes or about a third of our global 770,000-tonne nickel resource inventory," Young added.
As of 0920 GMT, shares had edged forward 3.63% to 7.56p.
AMC pointed out that as earlier estimates were based on deposits with a total strike length of 1.4km, and that the new assessment covered a strike of 3.6km as a result of recent discoveries at the neighbouring Ikenskoe/Sobolevsky and Kubuk orebody deposits, the QAQC had shown a significant jump in resource estimates.
SGS Minerals, which ran the external control on AMC's nickel, found an average grade of 0.62% compared to the earlier Alex Stewart Laboratory (ASL) results of 0.63%, a difference of about 2.3%.
In terms of external control on copper, both SGS and ASL reported an average copper grade of 0.18% at a COG grade of 0.10% copper.
Robin Young, chief executive of Amur Minerals, said, "With the acquisition of the final Quality Assurance / Quality Control analytical results from SGS Minerals, we are now fully assured that the 2017 independent Alex Stewart Laboratory analytical results meet industry standards and can be used in the calculation of an updated Mineral Resource Estimate. With this milestone, we have engaged RPM Global to update the February 2017 Mineral Resource at Kun-Manie."
"With drilling having confirmed mineralisation along over 3.6 kilometres of length where only 1.4 kilometres had been previously drill identified, we anticipate a substantial increase in the nickel-copper resource of February 2017. Going into the initiated RPM update, the area was defined to contain about 258,000 nickel tonnes or about a third of our global 770,000-tonne nickel resource inventory," Young added.
As of 0920 GMT, shares had edged forward 3.63% to 7.56p.
Related share prices |
---|
Amur Minerals Corporation NPV (AMC) share price |
Stock News headlines are gathered from financial news sources around the web. Views and opinions on each item are from their respective authors and website. They are not opinions of LiveCharts.co.uk
Get a free widget for your website with our latest headlines.
You can now add our live prices and new headlines to your website.The news widget features quotes for Oil prices, spot Gold price and Indices plus a choice of news channel for healines.
Top Shares pages
- Share price quotes
- Share charts
- Share watch list
- Company Results Calendar
- Top Large UK Shares
- UK Market Sectors
- Stock market news
- Company news
- Share tips
- A-Z company search
More share features
POPULAR Share Prices
- Royal Mail share price
- Lloyds share price
- HSBC share price
- Barclays share price
- Prudential share price
- Santander share price
- NEXT share price
- Diageo share price
- BP share price
- Vodafone share price
- British Airways
- Centrica share price
- Tesco share price
- Taylor Wimpey Share Price
- National Grid
- GKP Share Price
- Marks and Spencer
- Rolls Royce
- Rio Tinto
- THG Share Price
- Aviva Share Price
- Boil Share price
- Easyjet Share Price
- Genedrive Share Price
- SSE Share Price
- IAG Share Price
- Boohoo share price
- HE1 share price
- AVCT share price
- BOOM share price