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Azarga Metals (CVE:AZR)

Azarga Metals (CVE:AZR)

Share Price
$ 0.12
0 (0.00 %)
Market Cap
$10.85 m
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Azarga Metals

Azarga Metals Corp. (TSX-V: AZR) is a Canadian mineral exploration and development company that owns 60% (along with the right to acquire the remaining 40%) of the Unkur Copper-Silver Project in the Zabaikalsky province in eastern Russia. Historic drilling on the Unkur property outlined a large area of high-grade shallow stratiform sediment hosted copper-silver 20 to 50 meters thick over an...

Market: TSX-V:AZR
52-week High/Low: C$0.16 / C$0.10
Sector: General Mining - Silver
Market Cap: C$10.85M

Azarga Metals

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The Unkur Project is interpreted as a sediment-hosted stratiform copper deposit type. The copper-bearing horizon has been traced, from historic drill holes, trenches and outcrop, for a length of about 5 kilometers northwest-southeast in the southwest limb of the Unkur Syncline. No material exploration works have yet been conducted by, or on behalf of the Company.

Eight historical diamond drill holes returned copper samples with grades greater than 0.6% Cu (the grade historically used for defining substantial mineralization). The mean length of these intersections is 13 m and the mean grade is 0.78%. The deepest intersection is 250m down hole. Within the zone of copper mineralization, silver grades were estimated by sampling composites of the copper samples. Average silver grade of these composites was 68.3 g/t. The reliability of these historical results is in doubt though, because of significant core recovery problems: recovery in the mineralized intervals was 65% on average, and as low as 31%. In addition to the poor recoveries, the overall quantity and quality of historical data are insufficient to be the basis for preparing a mineral resource estimation.

Despite the risks and uncertainties arising from data quality, SRK considers that the Unkur Project has a high exploration potential. Continuity of the mineralized horizon has been established over a strike length of at least 5 kilometers, and the extent of this horizon has not yet been closed off, either along strike or down dip. Information from geophysics, and sparse outcrop exposures, implies that the same copper-bearing horizon is also present, several kilometres away, on the northeast limb of the Unkur Syncline.

Metallurgical testing results of a single 350kg sample of the oxide copper-bearing ore of the Unkur deposit taken in December 2014 indicate that copper and silver can be recovered. Preliminary tests indicate recoveries up to 96% of both copper and silver.

In the opinion of SRK, the potential of the Unkur Project is sufficient to justify additional exploration, which will also satisfy the minimum exploration expenditure requirements. SRK has proposed a work program to delineate the copper and silver mineralization, estimate mineral resources and prepare an initial mineral resource statement and preliminary economic assessment to meet NI 43-101 disclosure guidelines.


Kuriskova Uranium project

The Kuriskova uranium project is located in Slovakia and is owned by Ludovika Energy s.r.o. (“LE”). On October 19, 2015, the Company transferred its 100% interest in LE to an unrelated third party in exchange for the Company retaining a 25% share of any future compensation paid to LE by the Slovak Government pursuant to the Court proceedings in respect of the non-renewal of the Kuriskova license by the Slovak Government.

Dorian (“Dusty”) Nicol
Director, President and Chief Executive Officer

40-years international experience in exploration and mining
Successful track record of managing exploration and development projects worldwide
Member of the American Institute of Professional Geologists, a Fellow of the Society of Economic Geologists, a Fellow of the Australasian Institute of Mining and Metallurgy (AusIMM) and Registered Member of the Society of Mining Engineers
B.Sc. in geology from M.I.T. and a Master's Degree in geology from Indiana University and
is fluent in five languages.

Doris Meyer
Chief Financial Officer and Secretary

40-years experience in financial reporting and corporate compliance for publicly traded mineral exploration companies
CPA-CGA since 1985

Sergei Stefanovich
General Manager Russia

16 years of corporate finance, strategy & business development experience principally focused on Russia and larger FSU area
Managed a public equity mining fund that invested into junior mining companies
Worked as Director (Strategy and M&A) for Norilsk Nickel
Was a Board member of Gold Fields Limited
Served as a legal counsel for Sputnik private equity funds, AT&T & McKenna & Co.
a lawyer by initial training and received an MBA from IMD (Institute for Management Development), Lausanne, Switzerland
fluent in Russian and English

Yuri Saitov
Chief Project Geologist

25 years of experience in mining and mineral exploration in Russia
experience in exploration, resource evaluating and mining of hard rock and placer gold deposits
Graduated in 1984 from Tomsk Polytechnic Institute as mining engineer – geologist
Received a Master degree in Academy of national economy under the Government of the Russian Federation (Natural resources, ecology and economy) and PhD in Geology.
Fluent in Russian

Corporate and Investor Relations Office

Unit 1 - 15782 Marine Drive
White Rock, BC
Canada V4B 1E6
Tel: +1.604.536.2711
Fax: +1.604.536.2788

Registered and corporate office

Unit 1 - 15782 Marine Drive,
White Rock, B.C. V4B 1E6
Tel: 604-536-2711
Stock Exchange

TSX Venture Exchange
Symbol: AZR
Cusip: 05478A109
Transfer Agent

Computershare Trust Company of Canada
510 Burrard Street, Second Floor
Vancouver, BC V6C 3B9

Chartered Professional Accountants
PO Box 10426 - 777 Dunsmuir Street
Vancouver, B.C. V7Y 1K3

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