Amur Minerals Corporation Completion of Ice Road (2087Z)

TIDMAMC

RNS Number : 2087Z

Amur Minerals Corporation

13 March 2017

13 March 2017

AMUR MINERALS CORPORATION

(AIM: AMC)

Winter Ice Road & Resupply Update

2017 Field Programme

Amur Minerals Corporation ("Amur" or the "Company"), a nickel-copper sulphide mineral exploration and resource development company focused on the far east of Russia, is pleased to announce that it has completed the construction of the 350 kilometre long ice road from the Ulak station, on the Baikal - Amur rail line, to its Kun-Manie project. Subsequently the Company has begun the restocking for the 2017 field programme.

Highlights:

-- Construction of the ice road was completed on 22 February 2017 and resupply of the site is underway.

-- Ten vehicle convoys transport the supplies from the Company's Ulak rail siding, traversing the 350 km long ice road.

-- Three of the eight planned trips have been completed to date, delivering 140 tonnes of fuel and lubricants. A total of 360 tonnes of fuel is scheduled for delivery, an increase of 120 tonnes over last year.

-- A total of 220 tonnes of supplies, spares and food for the upcoming season is scheduled for delivery, an increase of 60 tonnes over 2016. Approximately 82 tonnes have been delivered.

-- The newly purchased capital items, including the Caterpillar D6RII dozer, Caterpillar 320D2L excavator and water well drill rig, are now at the Ulak rail siding and are being prepared for transport to the site.

Upon completion of the most cost effective way to resupply our operation, the Company will be in a position to drill a minimum of 15,000 metres of core holes, targeting Kubuk ("KUB") and Ikenskoe / Sobolevsky ("IKEN") during the 2017 field season. Drilling will include infill resource conversion (Inferred to Indicated) at KUB and step out drilling at both KUB and IKEN. Metallurgical sampling holes will also be completed.

The Company also plans to complete a series of bore holes in the area of the plant site for determination of the amount of water available to process the ore. In addition, bore holes will be completed in the area of the Maly Kurumkon / Flangovy ("MKF") planned open pits and underground operation to determine potential water inflow rates and establish dewatering requirements if necessary.

Robin Young, CEO of Amur Minerals, commented:

"With the increased tonnages to be delivered to site, we initiated the construction of the winter ice road earlier, commencing on 18 February 2017 and completing it on 22 February 2017. With the earliest ice road completion date ever, and the acquisition of additional transport vehicles that will be used at site during the field season, we have already been able to deliver nearly 40% of the necessary 2017 field supplies to Kun-Manie. It was not until 21 March of last year that we had reached the 50% resupply level.

"We are on schedule and anticipate the successful completion of the full resupply of the site. This is of course weather dependent and the current -4 to -7 C temperatures work in our favour. The current supply inventory level on site already allows for us to complete about 8,000 metres of diamond core drilling. With the delivery of the water well drill rig to site, the current inventory of supplies will cover our planned hydrological drill programme. We are well on the way to the implementation of the 2017 field season."

Enquiries:

 
     Company         Nomad and Broker      Public Relations 
  Amur Minerals     S.P. Angel Corporate     Yellow Jersey 
      Corp.             Finance LLP 
 Robin Young CEO        Ewan Leggat        Harriet Jackson 
                       Laura Harrison       Charles Goodwin 
  [phone]      [phone]        +44 (0) 7544 
        15                  470                 275 882 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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March 13, 2017 03:00 ET (07:00 GMT)