TORONTO, ONTARIO, Jun. 17 -- 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 (~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.