Asian Mineral Resources Limited Announces Increase to the Ban Phuc Massive Sulphide Resource
June 08 2010 - 4:15PM
Marketwired
Asian Mineral Resources Limited ("AMR") (TSX VENTURE: ASN) is
pleased to announce an increase in the resource at its Ban Phuc
nickel-copper project in north western Vietnam.
The contained nickel in the massive sulphide deposit in the
Measured and Indicated categories has increased by approximately
13,000t (approx. 40%) above the previous (February 2009)
estimate.
The increase is principally a result of drilling designed to
test and better define the western section of the deposit at depth
with the majority of this new resource reporting to the Indicated
category. In addition, data derived from underground stope
definition drilling and channel sampling of new massive sulphide
exposures in underground development (reported in Oct 09) resulted
in a significant movement of resources from Inferred into the
Indicated category adding further to the confidence in the
resource. Together these changes produced an increase in the
Measured + Indicated Mineral Resource of approximately 13,000t of
contained Ni and 6,000t of contained Cu. The remaining inventory of
the Inferred Mineral Resource has reduced by approximately 5,000t
of Ni and 3,000t of contained Cu in comparison with previous
(February 2009) estimate.
"In addition to the confirmation of down dip extension of the
massive sulphide deposit, the conversion of existing Inferred
resource into the Indicated category is most encouraging and will
have a positive impact on the mine reserves and project life"
commented Rob Guest, CEO of AMR.
The following table summarizes the new resource estimate:
----------------------------------------------------------------------------
Ban Phuc Massive Sulphide Resource Estimate
Using a cut off of 0.40% nickel
----------------------------------------------------------------------------
Category Tonnes Ni Cu Co Nickel Copper Cobalt
(000') (%) (%) (%) (t) (t) (t)
----------------------------------------------------------------------------
Measured 730 2.78 1.16 0.07 20,385 8,481 528
----------------------------------------------------------------------------
Indicated 960 2.60 1.22 0.06 24,943 11,662 537
----------------------------------------------------------------------------
Meas + Ind 1,690 2.68 1.19 0.06 45,328 20,143 1,064
----------------------------------------------------------------------------
Inferred 170 1.94 0.80 0.03 3,303 1,361 55
----------------------------------------------------------------------------
The Qualified Person for the new estimate and National Instrument 43-101
compliance is Dr Bielin Shi, Member of the Australasian Institute of Mining
and Metallurgy (MAusIMM), of CSA Global - Perth, Australia. Dr. Shi has
sufficient experience which is relevant to the style of mineralization and
type of deposit under consideration, and to the activity he is undertaking,
to act as a Qualified Person as defined by NI 43-101. Dr Shi consents to the
inclusion of such information in this news release in the form and context
in which it appears.
Company Profile:
Asian Mineral Resources Limited has been active in Vietnam since
1993 and through its 90% owned Vietnam subsidiary Ban Phuc Nickel
Mines LLC is developing the Ban Phuc sulphide deposit in Son La
province 5 hours drive north-west of Hanoi. Construction of the
project, which is targeting the production of 60,000tpa of
concentrate containing nickel/copper/cobalt was suspended in
October 2008 when metal prices were under pressure from the world
financial crisis. With over 1,000m of u/g development and 80% of
all plant equipment purchased, the project is approximately 65%
complete and is currently under care & maintenance pending
receipt of funding to complete construction. For further
information, please refer to the company website at
www.asianminres.com.
Quality Assurance
The technical information supplied to CSA was reviewed by Simon
Mottram, Member of the AusIMM and an AMR employee. Mr. Mottram is a
Qualified Person as defined by National Instrument 43-101. For more
detailed information regarding the Ban Phuc massive sulphide
deposit please refer to Technical report (NI 43-101) - English -
August 2007, that can be found at www.sedar.com.
Forward-Looking Statements
This press release includes certain "Forward-Looking
Statements." All statements, other than statements of historical
fact, included herein, including without limitation, statements
regarding potential mineralization and reserves, exploration
results and future plans and objectives of Asian Mineral Resources
Limited are forward-looking statements that involve various risks
and uncertainties. There can be no assurance that such statements
will prove to be accurate and actual results and future events
could differ materially from those anticipated in such statements.
Important factors that could cause actual results to differ
materially from Asian Mineral Resources Limited's expectations are
disclosed under the heading "Risk Factors" and elsewhere in Asian
Mineral Resources Limited documents filed from time-to-time with
the TSX Venture Exchange and other regulatory authorities.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news
release.
Contacts: Asian Mineral Resources Limited Rob Guest CEO +84 4
3773 7997 +84 4 3773 7996 (FAX) rguest@banphucnickel.vn Asian
Mineral Resources Limited Paula Kember CFO 416 360 3412 416 367
1954 (FAX) info@asianminres.com www.asianminres.com
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