Advertisement

Amur Minerals prepares drilling of Kun-Manie nickel-copper mine

Amur Minerals Corporation's shares rose Friday after the miner announced it the completion of restocking at its Kun-Manie nickel-copper sulphide project in Russia.

Amur Minerals Corporation's shares rose Friday after the miner announced it the completion of restocking at its Kun-Manie nickel-copper sulphide project in Russia.

The delivery of more than 200 tonnes of fuel, supplies, spare parts and materials will allow the company to begin 6,000 metres of drilling.

Drilling is expected to start in early June.

Advertisement - Article continues below

The company will target the Kubuk area where a 3.0 kilometre long coincident geochemical and geophysical anomaly is present. The anomaly is located within the Kurumkon Trend which is the prime host zone where resources and reserves have been identified.

Previously reported trench results along the western half of the target area have exposed substantial thicknesses of nickel and copper mineralisation.

The average exposures within the trenches are nearly 50 metres in thickness and have average grades of 0.63% nickel and 0.16% copper. A total of 2,500 metres is planned for the initial stage of drilling near the trenches where the mineralisation has been exposed.

"The culmination of our restocking efforts is a very satisfying accomplishment," said Chief Executive Officer Robin Young.

"This is a direct result of a well co-ordinated operation which begins in November of each year with the purchase of long lead time items, delivery to our base camp on the Baikal Amur rail road from numerous locations and sources, preparation of the ice road and the final delivery of the materials to the project site.

"This is no small feat. Now we await the final thaw after which we can begin drilling Kubuk, which is an exciting target."

RD

Advertisement
Advertisement

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Why investors should be “cautiously bullish” for 2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

Can Rishi Sunak save the economy with stamp duty cuts and half-price meal deals?
UK Economy

Can Rishi Sunak save the economy with stamp duty cuts and half-price meal deals?

John Stepek runs his eye over the chancellor's £30bn stimulus package and asks if it's enough to get the economy back on its feet after months of lock…
9 Jul 2020
An economics lesson from my barber
Inflation

An economics lesson from my barber

On reopening his shop after lockdown, Dominic Frisby’s barber doubled his prices. It’s all part of the post-Covid inflation process – and we’re going …
8 Jul 2020
What gold, bonds and tech stocks have in common
Stockmarkets

What gold, bonds and tech stocks have in common

"Risk off" or "safe haven" assets such as gold and government bonds have been doing well lately. But so have riskier tech stocks. That seems to defy c…
10 Jul 2020