Azarga Metals Completes Successful Ground Magnetic Survey at Unkur
AZARGA METALS CORP.
UNIT 1 – 15782 MARINE DRIVE, WHITE ROCK, B.C. V4B 1E6, CANADA
www.azargametals.com
FOR IMMEDIATE RELEASE
18 JANUARY 2017 TSX-V: AZR
AZARGA METALS COMPLETES SUCCESSFUL
GROUND MAGNETIC SURVEY AT UNKUR
AZARGA METALS CORP. (" Azarga Metals " or the “ Company”) (TSX-V:AZR)
announces it has completed a ground magnetic survey at its Unkur Copper-Silver
Project in the Zabaikalsky administrative r egion in eastern Russia, with successful
results.
The ground magnetic survey wa s a key part of the Company ’s first phase exploration
program at Unkur. Undertake n in parallel with the dril ling and trenching works, it
comprised approximately 130 line kilometers of detailed ground magnetics. While the
data is still being interpreted and correla ted with geology and drill results, the
geophysical data confirms that the silver-copper mineralization at Unkur has a strong
magnetic signature and that gr ound magnetics can be a useful targeting tool on the
project. Significantly, the ground magnetic survey data has:
been useful in identifying ch anges in direction of the mineralized horizon, which
the Company believes are associated with increased thickness and grade; and
identified targets for additional mineralization to the north of the first phase drilling
area. The magnetic signatures of these targets remain open to the northeast and
future surveys will aim to extend them.
Drilling results from Azarga Metals’ first phase exploration program at Unkur intersected
significant copper-silver mineralization over a strike length of approximately three
kilometers and the mineralized area remains in open in all directions as well as down
dip. The newly acquired ground magnetic survey data will be used to plan drilling in the
second phase exploration program with th e aim to expand the mineralized area and
target zones which are indicated to be thicker and higher grade.
“We are very excited with the efficacy of ground magnetics at Unkur as this provides a
fast and inexpensive tool to target drilling to expand the area of mineralization”, said
Dorian L. (Dusty) Nicol the Company’s Presi dent and CEO. “I’m particularly excited by
the ability of ground magnetics to identify changes in dire ction of the mineralized
horizon and the possibility this opens to ta rget thicker zones of high grade associated
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with attendant dilation zones because such zones are where our best drilling results so
far have been attained.”
See below image of ground magnetic survey results with some selected drill-holes
overlaid and highlighting on the map future targets from the mag data.
SHARES FOR SERVICES
On January 16, 2017, the Company issued a total of 107,934 common shares for
$22,666.66 services rendered to the Company by the non-executive directors for the
period October 1, 2016 to Decem ber 31, 2016. The shares were issued at the closing
price on December 31, 2016 of $0.21 per share and are subject to a four-month hold
period expiring on May 17, 2017.
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UNKUR COPPER-SILVER PROJECT
Azarga Metals owns 60% of the Unkur Coppe r-Silver Project along with the right to
acquire the remaining 40% in the future.
Sediment-hosted copper and s ilver mineralization has been identified across the 5,390
hectare project license area, in outcrops, tr enches and by historical diamond drilling.
The prior exploration outlined a large area of high-grade shallow stratiform sediment
hosted copper-silver 20 to 50 meters thick over an area four to six kilometers long.
Further details concerning Unkur Copper-Sil ver Project are contained in a technical
report filed by the Company as per its news release of 5 April 2016.
Qualified Person
The Company’s President and Chief Executiv e Officer, Dorian L. (Dusty) Nicol, B.Sc.
Geo, MA Geo, a Qualified Person as def ined by NI 43-101, has reviewed and approved
the exploration information disclosures contained in this Press Release.
About Azarga Metals Corp.
Azarga Metals is a mineral exploration and development company that owns 60% of the
Unkur Copper-Silver Project in the Zabaikalsky administrative region in 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 t he TSX Venture Exchange) acc epts responsibility for the
adequacy or accuracy of this release.
Cautionary Statement:
This news release contains forward-looking statem ents that are based on the Corporation's current
expectations and estimates. Forward-looking statement s are frequently characterized by words such as
"plan", "expect", "project", "intend", "believe", "ant icipate", "estimate", "suggest", "indicate" and other
similar words or statements that ce rtain events or conditions "may" or "will" occur. Such forward-looking
statements involve known and unknown risks, uncertainties and other fa ctors that could cause actual
events or results to differ materially from estimated or anticipated events or re sults implied or expressed
in such forward-looking statements. Such factors in clude, among others: the ac tual results of current
planned exploration activities; conclusions of economi c evaluations; changes in project parameters as
plans to continue to be refined; possible variations in ore grade or recovery rates; accidents, labour
disputes and other risks of the mini ng industry; delays in obtaining governmental approvals or financing;
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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 and, except as may be required by applic able securities laws, the Corporation disclaims any
intent or obligation to update any forward-looking st atement, whether as a result of new information,
future events or results or otherwise. Forward- looking statements are not guarantees of future
performance and accordingly undue reliance should not be put on such statements due to the inherent
uncertainty therein.