Azarga Metals Announces Second Phase Work Program at Unkur Project
White Rock, British Columbia (FSCwire) - Azarga Metals Corp. ("Azarga Metals" or the "Company") announces its proposed work program for the second phase of physical exploration at its Unkur Copper-Silver Project in the Zabaikalsky administrative region of eastern Russia.
The second phase of exploration at Unkur will be carried out during the 2017-2018 field season and will focus on the potential for the discovery of additional copper and silver mineralization from three target concepts: (i) drilling along strike or down dip from currently defined mineralization; (ii) drilling to confirm the presence of at least one additional mineralized zone postulated to occur stratigraphically below the currently defined Zone 1 and Zone 2; and (iii) drilling new targets expected to be generated by planned geophysical surveys.
Dorian L. (Dusty) Nicol, the Company's president and CEO said "Our objective this year will be to at least double the size of the current Resource while increasing the overall copper and silver grades. Some of this increase is expected to come from step out drilling near the current Resource footprint. The remainder of the anticipated new Resource is expected to come from drilling of new targets from geophysics. Several such new targets have already been identified and drilling will focus on near-surface, high-grade targets as they are identified."
The approved exploration plan comprises:
Figure 1: Plan view of survey areas
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Figure 2: Plan view of Geological Mapping and Historical Trenching
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The following Table shows the true width and composite grade of each mineralized intersection used in the current Resource estimate.These are shown as drilled in the accompanying plans and cross sections.
|
Table 1: Intersections used for estimation(1) |
|||||||
Hole or trench ID |
From (m) |
To |
Length (m) |
Copper grade (%) |
Silver grade (%) |
Copper equivalent grade (%) |
True thickness (m) |
|
Zone 1 |
|
|
|
|
|
|
|
|
AM-020 |
227.0 |
241.0 |
14 |
0.51 |
28.44 |
0.79 |
10.6 |
|
AM-001(2) |
82.5 |
125.5 |
33 |
0.83 |
79.81 |
1.61 |
20.1 |
|
AM-002 |
432.5 |
472.5 |
40 |
0.31 |
12.77 |
0.44 |
33.8 |
|
AM-003(3) |
40.5 |
77.5 |
37 |
0.43 |
39.63 |
0.82 |
26.9 |
|
AM-004(4) |
319.5 |
358.5 |
31 |
0.44 |
27.23 |
0.70 |
23.7 |
|
AM-006 |
440.5 |
456.5 |
16 |
0.34 |
11.02 |
0.45 |
14.4 |
|
AM-007 |
47.0 |
60.0 |
13 |
0.25 |
17.12 |
0.41 |
10.9 |
|
AM-008 |
352.3 |
364.3 |
12 |
0.24 |
6.02 |
0.30 |
9.9 |
|
AM-011 |
145.5 |
153.9 |
8.4 |
0.92 |
61.73 |
1.52 |
7.3 |
|
AM-013 |
70.0 |
78.0 |
8 |
0.53 |
22.62 |
0.75 |
6.8 |
|
AM-015 |
135.0 |
145.0 |
10 |
0.29 |
4.55 |
0.34 |
8.7 |
|
AM-017 |
189.5 |
202.5 |
13 |
1.28 |
103.91 |
2.29 |
9.8 |
|
AM-019 |
39.0 |
49.0 |
10 |
0.48 |
12.39 |
0.60 |
8.6 |
|
TR K615 |
8.0 |
17.0 |
9 |
0.30 |
14.03 |
0.44 |
6.9 |
|
TR K616 |
18.0 |
29.0 |
11 |
0.41 |
6.32 |
0.47 |
8.1 |
|
|
|
|
|
|
|
|
|
|
Zone 2 (N) |
|
|
|
|
|
|
|
|
AM-001 |
311.5 |
346.5 |
35 |
0.47 |
43.49 |
0.89 |
|
|
AM-019 |
106.0 |
119.0 |
13 |
0.17 |
4.99 |
0.22 |
|
|
|
|
|
|
|
|
|
|
|
Zone 2 (S) |
|
|
|
|
|
|
|
|
TR K601 |
0.0 |
10.0 |
10 |
0.73 |
2.07 |
0.75 |
|
|
|
Notes: (1) copper and silver equivalent grades were estimated using US$3.00/lb copper price, US$20.00/oz silver price and 100% recovery using the formulae Cu eq = Cu + (0.009722 x Ag) and Ag eq = Ag + (102.86 x Cu); (2) mineralization begins at base of moraine, possibly intersection has been truncated by glacial erosion - composite excludes barren zone from 104.5 to 114.5; (3) mineralization begins at base of moraine, possibly intersection has been truncated by glacial erosion; and (4) composite excludes barren zone from 335.5 to 343.5. |
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Figure 3: Conceptual Cross Sections Showing Drilled Intersections and Targets
To view the graphic in its original size, please click here
To view the graphic in its original size, please click here
To view the graphic in its original size, please click here
To view the graphic in its original size, please click here
To view the graphic in its original size, please click here
To view the graphic in its original size, please click here
Qualified Person
The Company's President and Chief Executive Officer, Dorian L. (Dusty) Nicol, B.Sc. Geo, MA Geo, a Qualified Person as defined by NI 43-101, has reviewed and approved the exploration information disclosures contained in this Press Release.
About Azarga Metals Corp.
Azarga Metals is a mineral exploration and development company that owns 60% of the Unkur Copper-Silver Project in the Zabaikalsky province in eastern Russia.
AZARGA METALS CORP.
"Dusty Nicol"
Dorian L. (Dusty) Nicol, President and CEO
For further information please contact: Doris Meyer, at +1 604 536-2711 ext 6, or visit www.azargametals.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement:
This news release contains forward-looking statements that are based on the Corporation's current expectations and estimates. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such factors include, among others: the actual results of current planned exploration activities; conclusions of economic evaluations; changes in project parameters as plans to continue to be refined; possible variations in ore grade or recovery rates; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing; and fluctuations in metal prices. There may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Corporation disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
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