Azarga Metals Commences Preliminary Economic Assessment ON Unkur Copper-Silver Project
AZARGA METALS CORP.
UNIT 1 – 15782 MARINE DRIVE, WHITE ROCK, B.C. V4B 1E6, CANADA
www.azargametals.com
FOR IMMEDIATE RELEASE
1 FEBRUARY 2018 TSX-V: AZR
AZARGA METALS COMMENCES PRELIMINARY ECONOMIC ASSESSMENT ON
UNKUR COPPER-SILVER PROJECT
AZARGA METALS CORP. ("Azarga Metals" or the “Company”) (TSX-V:AZR) has
engaged Tetra Tech Mining and Minerals (“ Tetra Tech ”) to complete a NI 43 -101
compliant Preliminary Economic Assessment ( “PEA”) on the Company's high -grade
Unkur Copper-Silver Project located in the Zabaikalsky administrative region of eastern
Russia. The PEA will be completed by Tetra Tech's office in Swindon, United Kingdom.
Work on the PEA will commence immediately, with completion expected within three to
four months.
Azarga Metals’ overall strategy remains to continue physical exploration at Unkur for a
transformational increase in mineralization. However, the Company engaged Tetra Tech
in late 2017 to review the data associated with the Maiden Mineral Resource estimate
announced in mid -2017 ( see Technical R eport for the Unkur Copper -Silver Deposit,
Kodar-Udokan Area, Russian Federation dated 31 March 2017, available on the
Company's profile at www.sedar.com), and as a result of these discussions Azarga
Metals believes there is a strong chance that a PEA performed using existing data will
indicate robust economics for project development at Unkur. The information gained from
the PEA in terms of metallurgical processing options, infrastructure and operating cost s
in the region will greatly assist in refining the strategy for further exploration activities.
Commenting on the initiation of the PEA , Dorian L. (Dusty) Nicol, the Company's
president and CEO said, “I remain very confident that further exploration at Unkur
will significantly increase the size of the resource. Our target for the next round of
physical exploration is a doubling of the resource tonnage with an enhancement
of overall copper and silver grades ” He continued , “Our expectation is that the
outcome of this PEA will result in our current Resource at Unkur demonstrating
positive economics. The project will then only benefit from additional exploration
success.”
UPDATE ON ONGOING CORPORATE AND PROJECT ACTIVITIES
In addition to the PEA, Azarga Metals has continued to move forward a number of
initiatives that currently remain incomplete, including: (a) engaging with a number of
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potential strategic partners at both the Unkur project and parent level; (b) re-interpretation
of the results of the 2016-2017 exploration program to refine plans for upcoming physical
exploration works ; and ( c) reviewing potentially attractive acquisitions in the broader
Chara-Aldan region within which Unkur is situated and for which the Company executed
an exclusiv e Memorandum of Understanding with Azarga Resources Partners, OC
Management Group and Insignia Partners Limited for cooperation on such opportunities.
UNKUR GROWTH POTENTIAL
Azarga Metals considers that there is strong potential to grow the Mineral Resource at
the Unkur Copper-Silver Project beyond that identified in th e maiden Mineral Resource
estimate. The mineralization is open in both directions along strike and further exploration
drilling will aim to extend mineralization along strike. Of key i nterest for growth potential
is the zone of thicker and higher grade mineralization in the northern part of the Inferred
Mineral Resource area. The next phase of exploration work will focus on using geologic
and geophysical exploration to target potential extensions of this higher grade zone. The
mineralization also remains open down -dip. In addition to this the Unkur Copper-Silver
Project Inferred Mineral Resource area and its potential extensions, there are numerous
additional occurrences of copper -silver mineralization and geochemical / geophysical
anomalies within the Company’s 5,390 hectare Unkur License.
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 and technical information disclosures contained in this Press Release.
About Azarga Metals Corp.
Azarga Metals is a mineral exploration and development company that currently owns
60% of the Unkur Copper -Silver Project in the Zabaikalsky administrative region of
eastern Russia. The Company has exercised its option to acquire the remaining 40% of
the project subject to the Company’s disinterested shareholder approval on 14 February
2018 and the TSX Venture Exchange.
About Tetra Tech
Tetra Tech is a leading provider of consulting and engineering services. It supports
government and commercial clients by providing innovative solutions focused on water,
environment, infrastructure, resource management, energy, and international
development. With more than 16,000 associates worldwide, Tetra Tech's capabilities
span the entire project life cycle.
Tetra Tech recently completed a NI 43 -101 Technical Report on Silver Bear Resources
Inc’s Mangazeisky Silver Project located in northeastern Russia (see NI 43-101 Technical
Report, Mangazeisky Silver Project , Republic of Sakha (Yakutia), Russian Federation
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dated 2 1 August 2017, available on that c ompany's profile at www.sedar.com). As a
result, it has a good and updated understanding of the fiscal and operatin g regime, and
comparable costs in the broader region of eastern Russia.
AZARGA METALS CORP.
"Dusty Nicol"
Dorian L. (Dusty) Nicol, President and CEO
For further information please contact: Doris Meyer, at +1 604 536-2711 ext 6, or visit
www.azargametals.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
Cautionary Statement:
This news releas e contains forward -looking statements that are based on the Company’s current
expectations and estimates. Forward -looking statements are frequently characterized by words such as
"plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar
words or statements that certain events or conditions "may" or "will" occur. Such forward-looking statements
involve known and unknown risks, uncertainties and other factors that could cause actual events or results
to differ materially from estimated or anticipated events or results im plied or expressed in such forward -
looking statements. Such factors include, among others: the actual results of current planned exploration
activities; conclusions of economic evaluations; changes in project parameters as plans to continue to be
refined; the Company’s disinterested shareholders approving the acquisition of the remaining 40% of the
Unkur project, possible variations in ore grade or recovery rates; accidents, labour disputes and other risks
of the mining industry; delays in obtaining governm ental approvals or financing; and fluctuations in metal
prices. There may be other factors that cause actions, events or results not to be as anticipated, estimated
or intended. Any forward-looking statement speaks only as of the date on which it is made a nd, except as
may be required by applicable securities laws, the Company disclaims any intent or obligation to update
any forward-looking statement, whether as a result of new information, future events or results or otherwise.
Forward-looking statements a re not guarantees of future performance and accordingly undue reliance
should not be put on such statements due to the inherent uncertainty therein.