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.

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

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

Most Popular

Why we won’t see a house-price crash in 2021
House prices

Why we won’t see a house-price crash in 2021

Lockdown sent house prices berserk as cooped up home-workers fled for bigger properties in the country. And while they won’t rise quite as much this y…
18 Jan 2021
The FTSE 100 is set for a makeover with an influx of new tech stocks
UK stockmarkets

The FTSE 100 is set for a makeover with an influx of new tech stocks

The FTSE 100 – the dullest index in the world – is about to reinvent itself as a host of new firms list on the market. The change is long overdue, say…
24 Jan 2021
Think Tesla is a bubble? This might be the best way to bet on it bursting
Oil

Think Tesla is a bubble? This might be the best way to bet on it bursting

The huge rise in Tesla’s share price means that, by market value, it’s now the sixth-largest company in the US and and the world’s biggest car-maker. …
25 Jan 2021