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Azarga Metals Corp.
Summary
| Project: | Unkur | |
|---|---|---|
| Deposit: | Unkur | |
| Location: | Russia | |
| Commodities: | Copper-Silver | |
| Date: | 3/27/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 27-3-2018: Azarga Metals Corp. announces a Resource Estimation report for its Unkur deposit at the Unkur project. Updated mineral resource estimate at Unkur. AZARGA METALS CORP. ("Azarga Metals" or the “Company”) (TSX-V:AZR) announces an updated Mineral R | |
| Resources: | (Resource, Inf.): 62Mt @ 0.53% Cu, 38.60g/t Ag for 328.6Kt Cu, 76.88Moz Ag contained | |
| CP/QP: | [Resources]: Joe Hirst (Tetra Tech) | |
| ABSTRACT: | AZARGA METALS CORP. ("Azarga Metals" or the “Company”) (TSX-V:AZR) announces an updated Mineral Resource estimate for its Unkur Copper-Silver Project in the Zabaikalsky administrative region of eastern Russia. The estimate is an Inferred Mineral Resource of 62 million tonnes at 0.53% copper and 38.6g/t silver, containing 328,600 tonnes (724 million pounds) of copper and 76.8 million troy ounces of silver. This equates to copper equivalent grade of 0.90%, assuming a copper price of US$3.00/lb, silver price of US$20/oz and 100% recovery for copper and silver. The upated Mineral Resource estimate represents an increase of approximately 20 million tonnes (ie, 47%) in the size of the Inferred Resource, compared to the Company’s maiden NI 43-101 Resource estimate (see the Company’s news release dated April 4, 2017), with both copper and silver grades having increased marginally. The increase in tonnage, as compared to the Company’s maiden Resource estimate, was caused by two factors. Firstly, as a result of a recent detailed review of the geology and style of mineralization of Unkur by Azarga Metals and Tetra Tech staff, a less restrictive approach has been deemed appropriate to the physical constraints applied to the three dimensional geological model of the deposit thereby including some mineralized zones that were previously excluded in the estimation of the maiden Resource. Secondly, the current work on the preliminary economic assessment (“PEA”) for Unkur has provided a more detailed understanding of the possible operating options for Unkur and associated costs, and Tetra Tech considers that there is a reasonable expectation of economic viability of some material that was excluded from the maiden Resource based on a hypothetical open-pit design. This material has now been included into the updated Mineral Resource estimate | |
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