AMC Amur Minerals Corporation

TIDMAMC

RNS Number : 0697B

Amur Minerals Corporation

28 January 2020

28 January 2020

AMUR MINERALS CORPORATION

(AIM: AMC)

Rock Mechanics Assessment Complete

Amur Minerals Corporation ("Amur" or the "Company"), the nickel-copper sulphide exploration and development company focused on the far east of Russia, is pleased to announce that the rock mechanics (geomechanical) study for mining at its Kun-Manie project ("Kun-Manie") is now complete and has been filed and approved by the necessary Russian authorities. This evaluation is a component of the Company's Permanent Conditions TEO ("TEO").

The study, compiled by the Mining Institute of the Far Eastern Russian Academy of Sciences ("MIFERAS"), was based on the regional tectonic setting and project specific data derived from the testing of exploration drill core. It confirms that open pit operations can be successfully implemented at the Maly Kurumkon / Flangovy and Vodorazdelny deposits, and at the area identified as ISK (the now continuous orebody from Ikenskoe / Sobolevsky through Kubuk). Differing final pit slope angles and operational parameters accounting for the variability of the geomechanical characteristics unique to the waste and ore rock types of, and within, each deposit have been identified for use in the determination of the final ultimate pit designs and reserve reporting. For any remaining deeper ores, it has also been confirmed that conventional underground extraction methods can be utilised. The MIFERAS work substantially updates previously completed geomechanical analysis undertaken by SRK (UK) Ltd.

Robin Young, CEO of Amur Minerals Corporation, commented:

"The MIFERAS rock mechanic evaluation confirms that Kun-Manie can be implemented as on open pit operation. Once open pit operations are completed, and if the ore located below the ultimate pit limits is substantial, it has also confirmed that late mine life extraction of deeper ores using conventional mining methods can be implemented.

"The rock mechanics evaluation is an important component for the design of all mines. This information and its inputs will form the basis for simultaneously establishing on-going operational safety practices and identification of a life of mine ore production schedule."

Highlights:

-- The Mining Institute of the Far Eastern Russian Academy of Sciences evaluation of the regional setting and its associated stress fields has provided information for inclusion in the design of buildings, tailings storage facilities and consideration in mine design for open pit and underground production alternatives.

-- Kun-Manie is located within the Amursky Tectonic Plate along the southeast boundary of the Siberian Asia Craton. Since 1998, infrequent seismic activity within 200 km of the site has consisted of a total of five earthquakes. The magnitude of these earthquakes has ranged from 3.4 to 5.2 on the Richter Scale with epicenter depths ranging from between 10 km to 15 km. Globally, approximately 2,200 earthquakes having a 5.0 magnitude or higher occur per annum. A Richter Scale earthquake of a 5.0 magnitude can be felt and some property damage to structures may occur. Appropriate considerations will be incorporated in the design of site facilities and mining activities.

-- MIFERAS selected representative samples from throughout the areas from which open pit mining is anticipated. Using industry standard testing approaches, the properties of the host waste rock and composition of the ore, geological structure related to mass of the rocks, faulting and fracturing, morphology of the ore bodies, degree of hydrothermal alteration and tectonic activities were evaluated.

-- On an ore processing basis, the density and hardness of the ores to be milled are mutually supportive of the information used to estimate resources and reserves and the comminution (crushing and grinding) parameters for the ore processing plant.

-- Faulting and fracturing associated with the tectonic regime, complexity of the geology and geomorphology of the ore bodies increase from west to east along the axis of the mining licence. Open pit simulations along five representative cross sections indicate the open pit designs should include variable pit slope angles depending on rock type, orebody morphology, and fracturing and faulting. This specifically includes the northeast pit walls which are characterised by the greatest relief (difference in elevation between the pit bottom and the pit berm).

-- Analyses of geomechanical results have also been examined and conventional underground mining approaches can be successfully implemented below and or adjacent to the designed open pits at later stages in the mine life.

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

Enquiries:

 
       Company                Nomad and Broker          Public Relations 
  Amur Minerals Corp.    S.P. Angel Corporate Finance      Blytheweigh 
                                     LLP 
   Robin Young CEO            Richard Morrison             Megan Ray 
                                Soltan Tagiev              Tim Blythe 
                                                        +44 (0) 20 7138 
    +7(4212)755615           +44(0)20 3470 0470               3203 
 

Notes to Editors

The information contained in this announcement has been reviewed and approved by the CEO of Amur, Mr. Robin Young. Mr. Young is a Geological Engineer (cum laude), a Professional Geologist licensed by the Utah Division of Occupational and Professional Licensing, and is a Qualified Professional Geologist, as defined by the Toronto and Vancouver Stock Exchanges and a qualified person as defined by the AIM Rules for Companies. An employee of Amur for 15 years, previously Mr. Young was employed as an independent consultant with Fluor Engineers, Fluor Australia and Western Services Engineering, Inc. during which time his responsibilities included the independent compilation of resources and reserves in accordance with JORC standards. In addition, he was the lead engineer and participant of numerous studies and projects requiring the compilation of independent Bankable Studies utilised to finance small to large scale projects located worldwide. Mr. Young is responsible for the content of this announcement.

For further information, and Company updates see the Company website at www.amurminerals.com and twitter page @amur_minerals.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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