Following its resource updates for Maly Kurumkon-Flangovy (MKFL) and Ikenskoe-Sobolevsky (IKEN) in April and May, respectively, on 10 May Amur Minerals Corp (LON:A7L) announced the results of the process to similarly upgrade and refine the resource at Kubuk. Overall, the update demonstrated a 24.8% increase in mineralised tonnages at Kubuk to take the total resource at Kun-Manie to 740.1kt of contained nickel, or 982.7kt of nickel equivalent. The newly developed geological models for MKFL, IKEN and Kubuk were compiled by SRK in accordance with JORC standards and have been approved by SRK for use in the subsequent definition of reserves.
Resource equivalent to 982.7kt nickel equivalent
The Kubuk update completes the resource estimation phase of the definitive feasibility study at Kun-Manie and now allows for the definition of reserves. Containing 107Mt of material at an average grade of 0.45% Ni, Amur anticipates that the measured and indicated categories of resources at Kun-Manie are likely to be extensive enough to support operations in the important early years of any mining operation, during which construction loans are due to be repaid. To this end, SGS is updating grade-recovery curves for each of the deposits to determine the metal that is recoverable to concentrate. As soon as this is completed, Amur will award reserve definition work to an independent consultant to be performed to DFS standards, followed by an integrated mine plan and optimised schedule. (This is likely to involve the advancement of mining high grade, underground ore in the mining sequence and could therefore materially affect the economics of the project and the most efficient approach to its development).
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