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.
