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Azarga Metals aiming to at least double resource at Unkur

"Our objective this year will be to at least double the size of the current resource...," said Dusty Nicol
Azarga Metals aiming to at least double resource at Unkur
Azarga has announced its second phase work program for Unkur

Azarga Metals Corp (CVE:AZR) aims to "at least double" the size of the resource and lift copper and silver grades at the Unkur Copper-Silver project in Russia, it said, as the firm outlined the next phase of exploration.

"The second phase of exploration at Unkur will be carried out during the 2017-2018 field season," it said.

In April this year, an inferred resource for the project  was put at 42 million tonnes  containing 220,000 tonnes of copper and 52 million ounces of silver at 0.52% copper and 38 grams per ton (g/t) silver.

This equates to around 380,000 tonnes of copper equivalent at 0.90% or around 124mln ounces of silver equivalent at 91 g/t, assuming a copper price of US$3 a pound, a silver price of US$20 an ounce, and a 100% recovery rate.

Now, the group wants to find more copper and silver by focusing on three concepts.

The first if drilling along strike or down dip from the current mineralization, while the second is to confirm the presence of at least one additional zone below the currently defined Zone 1 and Zone 2.

Thirdly, Azarga aims to drill new targets (through 1,500m of diamond drilling), which are expected to be generated by planned surveys.

Aims for this year....

"Our objective this year will be to at least double the size of the current resource while increasing the overall copper and silver grades," said Dusty Nicol, president and chief executive.

"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."

Shares  in Toronto are at $0.185.

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The current inferred resource at Unkur stands at 42mln tonnes at a grade of 0.9% copper equivalent.

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