Profile image
By ProactiveInvestors (Reporter)
Contributor profile | More stories
Story Views

Last Hour:
Last 24 Hours:

Azarga drills 10 m, 134.2 grams per tonne silver and 1.63% copper at Unkur

Monday, October 31, 2016 8:57
% of readers think this story is Fact. Add your two cents.

Azarga Metals Corp. (CVE:AZR)  released new assay results from its Unkur silver-copper project in the Zabaikalsky administrative region of eastern Russia on Monday.

It has confirmed a second (previously undiscovered) horizon of significant mineralization. It has also made a further expansion of its first phase drilling program to approximately 6,200 cumulative linear metres and identified visible copper mineralization in two trenches.

Assays for four new holes were received. All holes intersected significant mineralization. Highlights include:

10 metres at 134.2 grams per tonne silver and 1.63 per cent copper, with a six metre subsection at 194.5 g/t silver and 2.42 per cent copper in drill hole AM-017;

11 metres at 58.0 g/t silver and 0.87 per cent copper in drill hole AM-004.

A lower mineralized zone observed previously in drill hole AM-001 is now confirmed as stratigraphically distinct from the upper zone, resulting in confirmation of a second distinct mineralized zone (Unkur lower zone).

The company has expanded the first phase drilling program by an additional approximately 1,200 metres to approximately 6,200 metres.

The company has expanded its drilling program to be financed with existing cash.

Visible copper mineralization was exposed in two trenches.

SRK was retained to prepare a maiden resource estimate, with results expected after the first phase exploration program is complete in the first quarter of 2017.

“This announcement summarizes a great deal of progress happening quickly. It is particularly exciting to confirm a second horizon of significant mineralization at Unkur and that we will be doing extra drilling to try to intersect it again,” said The company’s president and chief executive officer Dorian Nicol.

The company announced a second, deeper intersection of significant mineralization in drill hole AM-001 on Oct. 6, noting that it suggested the potential for multiple distinct horizons of significant mineralization at Unkur. Such a feature was not observed in the shorter drill holes that had previously returned assays or from historical exploration records.

Review and detailed logging of drill core by Azarga Metals have confirmed that the lower mineralized zone is stratigraphically distinct from the upper zone. As a result, a second distinct mineralized zone has been defined to be referred to as Unkur lower (with the previously discovered zone to be referred to as Unkur upper). Furthermore, there remains the prospect of discovering additional zones in the future.

On Sept. 21, Azarga Metals announced an expansion of its planned first phase drilling program at Unkur silver-copper project by up to two-thirds to approximately 5,000 cumulative linear metres due to positive exploration results.

The company now aims to further expand the first phase drilling program by adding an additional approximately 1,200 cumulative linear metres of drilling to 6,200 metres. The additional drilling has two principal objectives. One is to drill test targets north of profile 6-6 where a continuing ground magnetic survey disclosed geophysical anomalies.

Silver-copper mineralization appears to be getting thicker and higher grade in this direction, which may be associated with a change in direction of the mineralized structure. Another objective of the additional planned drilling is to attempt to provide additional intersections that target the Unkur lower mineralized zone. Drill hole AM-018 is currently being drilled to specifically target the updip portion of the Unkur lower zone.

Azarga Metals expects to finance the increased drilling with existing cash, it said in its statement.

Visible mineralization exposed in trenches

Three trenches are currently being excavated with the objective of exposing near-surface portions of the Unkur upper mineralized zone for sampling. Two of these trenches, T-02 and T-03, have penetrated glacial cover to expose bedrock, where visible copper mineralization has been observed. These trenches are being excavated and will be sampled.

Story by ProactiveInvestors


We encourage you to Share our Reports, Analyses, Breaking News and Videos. Simply Click your Favorite Social Media Button and Share.

Report abuse


Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories



Top Global


Top Alternative




Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.