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Amur Minerals ups Kun-Manie nickel mineral resource 50%

Amur Minerals Corp. posted a 50% increase in mineral resources at its Kun-Manie nickel sulfide project in Russia.

The Kun-Manie project now hosts 155.1 million tonnes at a nickel equivalent grade of 1.02% for 1.58 million contained nickel equivalent tonnes at a cutoff of 0.4% nickel.

According to a March 20 release, all of the newly estimated resources identified by the 2017 drill program are within the IKEN and KUB deposits.

Amur CEO Robin Young said that on the back of the resource increase, the company will undertake "an aggressive Asian marketing program focused on China, Korea and Japan."

In October 2017, the company estimated that an open-pit mining strategy at the Kun-Manie project would generate EBITDA of US$1.61 billion.