Azarga Metals Corp. (TSX-V:AZR) announced the results of its maiden mineral resource estimate for its Unkur Copper-Silver Project in the Zabaikalsky Region of eastern Russia. The estimate is an Inferred Mineral Resource of 42 million tonnes at 0.52% copper and 38g/t silver, containing 220,000 tonnes (ie, 480 million pounds) of copper and 52 million ounces of silver.
This equates to approximately 380,000 tonnes (ie, 840 million pounds) of copper equivalent at 0.90% or approximately 124 million ounces of silver equivalent at 91g/t, assuming a copper price of US$3.00/lb, silver price of US$20/oz and 100% recovery. The Mineral Resource estimate was independently prepared by SRK Consulting (Russia) Ltd. (“SRK“), in accordance with NI 43-101.
An Inferred Mineral Resource was estimated based on three domains. Zone 1 is the stratigraphically upper zone of mineralization and Zone 2 is the stratigraphically lower zone, which is divided into a northern (N) and southern (S) sub-zone. Zone 1 and Zone 2 are further divided into near surface and underground mineralization.
Table 1: Unkur Copper-Silver Project Inferred Mineral Resource estimate summary as at 31 March 2017
|Category / zone||Tonnage
|Near surface (NS)|
|– Zone 1||23||0.54||40||0.93||95|
|– Zone 2 (North)||9||0.47||43||0.89||91|
|– Zone 2 (South)||1||0.42||4||0.46||47|
|– Total near surface||33||0.52||39||0.90||92|
|– Zone 1||8||0.53||34||0.86||88|
|– Zone 2 (North)||1||0.47||43||0.89||91|
|– Total underground||10||0.52||35||0.87||88|
|Zone 1 NS + UG||31||0.54||38||0.91||93|
|Zone 2 NS + UG||11||0.46||38||0.84||85|