TSX-V: AZR
VANCOUVER, Feb. 28, 2017 /CNW/ - AZARGA METALS CORP.
("Azarga Metals" or the "Company") (TSX-V:AZR)
announces assay results from channel sampling of trenches at its
Unkur Copper-Silver Project in the Zabaikalsky administrative
region of eastern Russia. Samples
are reported from two trenches that were excavated at the project.
Two additional trenches were excavated on the basis of copper
staining on surface but fell short of the target to intercept
mineralization identified by historic trenching. The onset of
winter conditions at camp precluded continuing undertaking
additional trenching during the first phase field program.
Azarga Metals' President and CEO Dorian
(Dusty) Nicol said, "These trench samples, together with
drill hole and samples announced earlier now define an area of
silver-copper mineralization extending over 3,200 meters in strike
length and up to 600 meters in width, which is still open in all
directions. In addition, drilling results suggest the presence of
multiple stacked zones of mineralization. These results of the
first phase exploration program add to our confidence that with
continued exploration, Unkur will develop into a significant and
high grade silver-copper deposit."
The Company has now received all assays for its first phase
exploration program. Interpretation of these results is
ongoing. Azarga Metals has engaged SRK Consulting (Russia) Ltd. to prepare a maiden NI 43-101
Resource estimate at Unkur, which is expected to be completed late
in Q1 or early in Q2 of 2017.
TRENCH CHANNEL SAMPLES OF OUTCROPPING MINERALIZATION
Channel samples are reported from each of two trenches located
about 400 meters apart from each other and 200 to 400 meters up-dip
to the south-west of the drilling area. Trench K-615 assayed
nine meters at 14.0g/t silver and 0.30% copper (ie, 46.0g/t
silver equivalent or 0.43% copper equivalent) including five
meters at 20.2 g/t silver and 0.41% copper (ie. 64.0g/t silver
equivalent or 0.60% copper equivalent). Trench K-616 assayed
11 meters at 16.8g/t silver and 0.41% copper (ie, 60.6g/t
silver equivalent or 0.57% copper equivalent) including five
meters at 32.2g/t silver and 0.69% copper (ie, 106.0g/t silver
equivalent or 0.99% copper equivalent). These trenches add 200 to
400 meters to the identified width of the recognized mineralization
at Unkur.
Note: copper and silver equivalencies have been calculated using
US$17.89/oz silver price and
US$2.79/lb copper price and assuming
100% recoveries.
Note: channel assays are reported as sampled and may not be
representative of true widths. Channels have been sited to attempt
to intersect mineralization as close to perpendicular as possible,
but there is not sufficient information about geometry of the
mineralization at this time to estimate true widths. A Quality
Assurance / Quality Control program is part of the sampling program
on the Unkur prospect. This program includes chain of custody
protocols as well as systematic submittals of standards, duplicates
and blank samples into the flow of samples produced by the sampling
including check assays of approximately 10% of the samples by
another certified laboratory. Samples were analyzed at SGS Vostok
Limited in Chita, Russia. Check
assays will be analyzed at ALS Geochemistry in Chita, Russia.
FIRST PHASE EXPLORATION UPDATE
The company has now received all assays from drill holes,
outcrop and trench sampling conducted during its first phase
exploration program at Unkur. Significant results are shown on the
above map.
UNKUR COPPER-SILVER PROJECT
Azarga Metals owns 60% of the Unkur Copper-Silver Project along
with the right to acquire the remaining 40% in the future.
Sediment-hosted copper and silver mineralization has been
identified across the 5,390 hectare project license area, in
outcrops, trenches and by historical diamond drilling. The prior
exploration outlined a large area of high-grade shallow stratiform
sediment hosted copper-silver 20 to 50 meters thick over an area
four to six kilometers long.
Further details concerning Unkur Copper-Silver Project are
contained in a technical report filed by the Company as per its
news release of 5 April 2016.
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
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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.
SOURCE Azarga Metals Corp.