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Azarga Metals Commences Field Work at its Unkur Copper-Silver Project, Eastern Russia

August 6, 2019 Download PDF

AZARGA METALS CORP. ("Azarga Metals" or the “Company”) (TSX-V:AZR) reports that a geophysical survey and other field work at the Unkur Copper-Silver Project in Eastern Russia have commenced following a recent visit to the property earlier this month by Michael Hopley (President and C.E.O.) and Dr. Alexander Yakubchuk (V.P. Exploration).

Michael Hopley, President and CEO of Azarga Metals comments: “The mineralization at Unkur seen in the field visit with Dr. Yakubchuk is impressive both in outcrop and in drill core. On the ground I was also pleased to see the amount of work achieved by the Soviet era exploration programs in which multiple zones of mineralization were discovered in a property-wide reconnaissance and trenching program”.

Mr. Hopley went on to say “I was struck with the large-scale widespread nature of the mineralization at Unkur and, based on Dr. Yakubchuk’s familiarities with the other deposits in the area, with the many apparent geological similarities to the giant Udokan deposit where the mine is currently being constructed by the owners Baikal Mining Company and which is reported to contain 24 million tonnes of copper and is located just 30 km to the south of Unkur”.

Magnetic survey data exists over the northwest part (representing about 20%) of the Unkur property – where all of the previous drilling and all of the current resources are located. There is an obvious strong spatial correlation between zones of copper-silver mineralization at Unkur with zones of contrast between magnetic highs and lows and this correlation was used successfully in guiding the 2016/2017 drilling program (see details in June 26, 2019 AZR news release) which is the basis of the current resources (see below for more detail). It is therefore important to have the remaining part of the property covered with a magnetic survey in order to guide the upcoming 6,000 meter drilling program expected to start this autumn.

The geophysical survey will also include a 28 line-kilometers induced polarization survey that is expected to define new zones of copper-silver mineralization and assist in designing the upcoming drilling program.

The sub-contractor should finish the geophysical surveys by the end of September 2019, although partial results will be made available to the Company periodically.

Other ongoing field operations currently underway at Unkur include detailed re-logging of the drill core from the 2016–2017 season for a more complete understanding of the controls of mineralization and the relationship between the sedimentary rocks hosting the copper-silver mineralization and the highly magnetic hematite-magnetite rich sedimentary units.

About Azarga Metals Corp.

Azarga Metals is a mineral exploration and development company that owns 100% of the Unkur Copper-Silver Project in the Zabaikalsky administrative region in eastern Russia. Unkur is a copper-silver discovery of global significance. On completion of a first phase physical exploration program in 2016-2018, the Company reported an NI43-101 Inferred Resource of 62 million tonnes at 0.53% copper and 38.6g/t silver for the project (see news release 15 October 2018). The Resource remains open in both directions along strike and down-dip.

AZARGA METALS CORP.

"Michael Hopley"

Michael Hopley,
President and Chief Executive Officer

For further information please contact: Doris Meyer, at +1 604 536-2711 ext. 6, visit www.azargametals.com, or follow us on Twitter @AzargaMetals. The address of the head office of Azarga Metals is Unit 1 - 15782 Marine Drive, White Rock, BC V4B 1E6, British Columbia, Canada.
 

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, labor 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.