Amur Minerals PLC gets chunky Kun-Manie resource upgrade

(MENAFN- ProactiveInvestors - UK) Amur Resources PLC's (LON:AMC) Kun-Manie nickel project in Far East Russia has received a sizeable upgrade from an independent resource study.

SRK Consulting estimates the project now contains just short of one million tonnes equivalent overall (958000) with the pure nickel content rising to 723000 tonnes from 650600.

Importantly the main targets of Maly Kurumkon/Flangovysaw a doubling of resources in the more certain indicated category to 285200 tonnes of nickel from 126100. Of that 73% was in high zones at grades above 0.5%.

Robin Young Amur Minerals's chief executive said the explorer had achieved two milestones with this latest resource.

'We increased the global nickel equivalent to just short of a million tonnes while simultaneously converting the majority of the previously existing Inferred resource into the Indicated resource category.'

Additionally substantially higher grades than reflected in previous resource models should increase the mined grades within the anticipated areas targeted for underground production.

This could see the underground mine being brought forward to improve the economics of the project by boosting product in the early years.

Young added that applying the techniques used by SRK Consulting would also give a major boost to the Kubuk and Ikenskoe/Sobolevsky targets at Kun-Manie.

Shares eased 2% to 5.99p.

-- updates for share price--