Azarga Metals estimated maiden mineral resources of its Unkur Copper-Silver Project

MINEX FORUM | April 12, 2017 | Views: 110

Azarga Metals Corp. (TSX-V:AZR) announced the results of its maiden mineral resource estimate for its Unkur Copper-Silver Project in the Zabaikalsky Region of eastern Russia. The estimate is an Inferred Mineral Resource of 42 million tonnes at 0.52% copper and 38g/t silver, containing 220,000 tonnes (ie, 480 million pounds) of copper and 52 million ounces of silver.

This equates to approximately 380,000 tonnes (ie, 840 million pounds) of copper equivalent at 0.90% or approximately 124 million ounces of silver equivalent at 91g/t, assuming a copper price of US$3.00/lb, silver price of US$20/oz and 100% recovery. The Mineral Resource estimate was independently prepared by SRK Consulting (Russia) Ltd. (“SRK“), in accordance with NI 43-101.

An Inferred Mineral Resource was estimated based on three domains. Zone 1 is the stratigraphically upper zone of mineralization and Zone 2 is the stratigraphically lower zone, which is divided into a northern (N) and southern (S) sub-zone. Zone 1 and Zone 2 are further divided into near surface and underground mineralization.

Table 1: Unkur Copper-Silver Project Inferred Mineral Resource estimate summary as at 31 March 2017

Category / zone Tonnage
(million tonnes)
Copper
grade (%)
Silver
grade (g/t)
Copper equivalent
grade (%)
Silver equivalent
grade (g/t)
Near surface (NS)
– Zone 1 23 0.54 40 0.93 95
– Zone 2 (North) 9 0.47 43 0.89 91
– Zone 2 (South) 1 0.42 4 0.46 47
– Total near surface 33 0.52 39 0.90 92
Underground (UG)
– Zone 1 8 0.53 34 0.86 88
– Zone 2 (North) 1 0.47 43 0.89 91
– Total underground 10 0.52 35 0.87 88
Zone 1 NS + UG 31 0.54 38 0.91 93
Zone 2 NS + UG 11 0.46 38 0.84 85
Total Resource 42 0.52 38 0.90 91

 

Azarga 1

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