Amur Minerals Corporation Hydrological Assessment Complete (0329T)
November 12 2019 - 2:00AM
UK Regulatory
TIDMAMC
RNS Number : 0329T
Amur Minerals Corporation
12 November 2019
12 November 2019
AMUR MINERALS CORPORATION
(AIM: AMC)
Hydrological 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
Hydrological Assessment (a component of the Company's Permanent
Conditions TEO ("TEO")) for its Kun-Manie nickel copper sulphide
project is now complete and has been approved by the necessary
Russian Federation agencies.
The Hydrological Assessment has confirmed the presence of
substantial groundwater reserves located along the Maly Kurumkon
and Bolshoy Kurumkon water sheds (referred to as the Ataga
underground water deposit) sufficient to support the Kun-Manie
proposed mining operation. The assessment confirms both
potable/ablution water and process water supplies are available for
the mining and ore processing of six million tonnes of ore per
annum. The assessment has been reviewed and approved by the State
Expert Commission on Reserves (TKZ Amurnedra) and Khabarovsk Branch
of the State Committee on Reserves (GKZ for the Far East
regions).
Hydrological Assessment highlights:
-- The hydrological assessment has been completed in accordance
with Russian regulatory procedures.
-- The work programme has identified two geographically separated water sources. One each for potable/ablution water and industrial usage inventories. Water reserves are projected to cover a minimum project life of 25 years.
-- The results confirm that 700 cubic metres per day of
potable/ablution water is available to support the anticipated site
crew of about 500 personnel. The source of the potable/ablution
water is located well upstream (approximately three kilometers, the
recommended protection boundary) from the proposed plant site.
-- During operations, the potable and ablution waters will be
drawn from two wells (one acting as a backup well) and sourced from
subsurface waters identified along the Maly Kurumkon water course.
The water quality meets the Russian Federation SanPin2.1.4.1074-01
standards and technogenic compounds (oil products, phenols,
pesticides, cyanides, etc.) are absent from the source area (below
the limits of detection). It is recommended that the
potable/ablution waters are pretreated by low cost simple
sedimentation and filtering prior to use. During sinter operations
when the subsurface waters will not be recharged through surface
runoff, water levels will be lowered by approximately 1.5 metres
and subsequently are projected to be fully recharged during the
spring snow melt and summer rains.
-- Subsurface industrial water in the amount of 7,000 cubic
metres per day of makeup water is required and has been identified
along the Bolshoy Kurumkon water course adjacent the planned
process plant site. Sourcing of the industrial water will require
an eight hole field (including one backup hole) with the holes
being spaced at 450 metres intervals along the water course. The
initial startup water charge, approximately 50,000 cubic metres, is
anticipated to be initially sourced through a combination from the
nearby Maya River and the well field. This field is to be located
downstream from the potable/ablution water source. During winter
operations, depression of the subsurface water level is projected
to be in the order of 38 metres with full recharge occurring during
the spring snow melts and summer rains.
-- Based on the Company's completed work, independent
hydrological consultant assessments and expert reviews by Russian
authorities, it is stated that existing reserves fully satisfy the
declared demand for water usage.
The key findings of the Hydrological Assessment report will be
incorporated into the ensuing western Feasibility Study ("FS")
work.
For further information on the content of the TEO, please follow
the links below:
https://amurminerals.com/content/wp-content/uploads/TEO-Overview-Sept-2019.pdf
https://amurminerals.com/content/wp-content/uploads/20190923-TEO-DFS-Work-Programme.pdf
Robin Young, CEO of Amur Minerals Corporation, commented:
"Results from the Hydrological Assessment have established that
a more than sufficient water supply is available to fully support
the annual six million tonne of ore operation at our Kun-Manie
nickel copper sulphide operation. Comprised of two categories of
water which are potable/ablution waters to support a 500 staff
operation and industrial usage to crush, grind and float the
sulphide metals from the ores allowing for the generation of
concentrates, these waters can be derived from a limited number of
holes, ten in total. This indicates that a relatively small cost
will be required to develop the necessary two well fields.
"With the potable/ablution and industrial waters being sourced
from two separate locations, we can be assured that the
hydrological programme identified by the assessment maintains the
integrity and quality of the critical potable/ablution source."
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
MSCBBBRTMBTBBFL
(END) Dow Jones Newswires
November 12, 2019 02:00 ET (07:00 GMT)
Amur Minerals (LSE:AMC)
Historical Stock Chart
From Apr 2024 to May 2024
Amur Minerals (LSE:AMC)
Historical Stock Chart
From May 2023 to May 2024