Azarga Metals Intercepts 86 Meters of 0.6% Copper and +57.6G/T Silver
AZARGA METALS CORP.
UNIT 1 – 15782 MARINE DRIVE, WHITE ROCK, B.C. V4B 1E6, CANADA
www.azargametals.com
FOR IMMEDIATE RELEASE
FEBRUARY 11, 2020 TSX-V: AZR
AZARGA METALS INTERCEPTS 86 METERS OF 0.6% COPPER AND +57.6G/T SILVER
HIGHLIGHTS
• 86 meters of mineralization with an average grade of 0.6% copper and +57.6g/t silver
(representing a 1.19% copper equivalent intercept [see note 1 below]) intersected
in drill -hole AM19 -004 – by far, the widest mineralized intersection recorded in
Unkur’s history
• Drill-holes AM19-002 and AM19-003b intersected copper and silver mineralization
some two kilometers to the southeast along strike from the envelope of the current
Mineral Resource estimate
AZARGA METALS CORP. ("Azarga Metals" or the “Company”) (TSX-V:AZR) reports that it has
received assay results from the first six drill holes from the ongoing 6,000 meter drilling program
on its Unkur Copper-Silver Project in Eastern Russia . These results indicate the possibility of
expanding the mineralized envelope at Unkur at depth and along strike.
Dr. Alexander Yakubchuk, VP Exploration observed the core from these drill holes and said:
“Drill-hole AM19 -004 has discovered the widest intercept of mineralization to date at
Unkur. The mineralization in this hole consists of chalcopyrite-bornite-chalcocite material
with two subintervals of 15m with an average grade of 0.84% copper and 43.9g/t silver, and
32m with an average grade of 1.02% copper and 1 28.7g/t silver. These results are
supported by similar mineralization with partially received assays for holes AM19-005 and
AM19-006, together with the 2016 drilling results indicating the presence of higher than the
average of the resource grade mineralization extending over 1,200m in length and 400m
down dip in the northern part of the current resource envelope. This suggests that it may
be possible to expand the mineralized envelope at this location. Furthermore, drill holes
AM19-002 and AM19 -003b intercepted copper-silver mineralization some 2km southeast
from the current resource envelope indicating a strong possibility for its expansion to the
southeast as well.”
Page 2
AZARGA METALS CORP.
UNIT 1 – 15782 MARINE DRIVE, WHITE ROCK, B.C. V4B 1E6, CANADA
www.azargametals.com
Figure 1. Drill hole location map. Position of copper-silver target zones (black solid and dashed lines), 2016
holes (white spots) and trenches (green triangles) on 2019-2020 holes on reduced-to-pole magnetic image
of Unkur.
Drill-holes AM19-004, 005, and 006 aimed to test a potential higher-grade extension to the north
of the current Resource envelope as well as collecting material for PFS-level metallurgical test
work (see Figure 1). Results from AM19-004 showed a wide interval of mineralization – 86 meters
between 194 and 280 meters with an average grade of 0.60% copper and 56g/t silver. (Figure 2
and Table 1). The partial assay results received for drill holes AM19-005 and AM19-006 (Figure
3 and Table 1 showed similar copper and silver grades (Table 1) albeit over narrower intervals.
Together with drill -hole AM19-004 and 2016 drill -holes AM001, AM003, AM004, AM017, and
AM020 (see press release February 16, 2017), they outline a +0.5% Cu envelope, which is more
than 1,200 meters long and some 400 meters deep. The envelope remains open to the north and
the Company plans to drill test this area following the results of the recent ground magnetic survey
(see press release October 17, 2019).
Page 3
AZARGA METALS CORP.
UNIT 1 – 15782 MARINE DRIVE, WHITE ROCK, B.C. V4B 1E6, CANADA
www.azargametals.com
Figure 2. Copper-silver mineralization in drill hole A M19-004 and adjacent holes AM -003 and AM -004,
drilled by Azarga in 2016. Lithologies in 2016 holes are being relogged.
Figure 3. Copper-silver mineralization in drill-holes AM19-005 and AM19-006.
Drill-holes AM19-002 and AM19-003b intercepted copper-silver mineralization some 2 kilometers
southeast from the current resource envelope (Figures 1, 4), with intercepts of 6 meters with an
average grade of 0.94% copper and 23g/t silver and 8 meters with an average grade of 0.33%
copper and 22g/t silver, respectively . In additional to indicating a possible southeastward
Page 4
AZARGA METALS CORP.
UNIT 1 – 15782 MARINE DRIVE, WHITE ROCK, B.C. V4B 1E6, CANADA
www.azargametals.com
extension of the original mineralization envelope, these results also indicate a substantial downdip
increase in grade.
Figure 4. Copper-silver mineralization in drill-holes AM19-002 and AM19-003b.
Table 1
Drill-hole From,
meters
To,
meters
Interval,
meters
Copper, % Silver, g/t
AM19-002 324 330 6 0.94 23.0
AM19-003b 172 180 8 0.33 22.0
AM19-004 194 280 86 0.60 57.6
Including 212 227 15 0.84 43.9
Including 238 270 32 1.02 128.7
AM19-005 238 239 1 0.31 26.2
247 266 19 0.76 61.2
Including 257 266 9 1.34 99.4
294 296 2 0.15 7.3
AM19-006 307 310 3 0.17 8.3
314 323 9 1.07 60.5
330 335 5 0.15 19.5
Notes to Table: There were no significant assay results from drill hole AM19 -001 which was drilled to test
an induced polarization geophysical anomaly in the central part above the current resource shell. Results
from drill holes AM19 -005 and AM19 -006 are based on partial assay results – final assay results may
change these figures. All assays presented are uncapped.
The Unkur diamond drilling program is progressing well with approximately 3,800 meters of the
planned 6,000 meterage completed to date. At the present rate of progress, the drilling should be
Page 5
AZARGA METALS CORP.
UNIT 1 – 15782 MARINE DRIVE, WHITE ROCK, B.C. V4B 1E6, CANADA
www.azargametals.com
completed in late March to early April 2020 , with assay results continuing to be p ublished as
received between now and May/June 2020.
Important Notes to News Release
1. Formula for calculation of copper-equivalent: Cu Eqv. =((Cu % × US$ 2.5 × 22.04) + (Ag
g/t × US$ 17.5 × 0.0321)) ÷ US$ 2.5 ÷ 22.04, with Cu price US$ 2.5/lb and Cu recovery
100%, Ag price US$17.5/oz and Ag recovery 100%)
2. A Quality Assurance/Quality Control program was part of the drilling program on the Unkur
Project. This program includes chain of custody protocols as well as systematic submittals
of standards, duplicates and blank samples into the flow of samples produced by the
drilling.
3. Samples were prepared and analyzed at SGS Vostok Limited and ALS Chita
laboratories, both in Chita, Russia.
4. True thickness is estimated to be 80 to 90% of the reported drill intervals.
5. The results of the Unkur Project drilling program have been reviewed by Michael J. Hopley
the Qualified Person for Azarga Metals Corp. Mr. Hopley is President and Chief Executive
Officer of Azarga Metals Corp. and is a Qualified Person as defined by NI 43-101, verifies
the data disclosed and has reviewed and approved the disclosure contained in this Press
Release.
About Azarga Metals Corp.
Azarga Metals is a mineral exploration and development company that owns 100% of the Unkur
Copper-Silver Project in the Zabaikalsky administrative region in eastern Russia. On completion
of a first phase physical exploration program in 2016 -2018, the Company estimated an Inferred
Resource of 62 million tonnes at 0.53% copper and 38.6g/t silver for the project in the report
entitled “Technical Report and Preliminary Economic Assessment for the Unkur Copper -Silver
Project, Kodar-Udokan, Russian Federation” dated effective 30, August 2018 authored b y Tetra
Tech Mining & Minerals. The Resource remains open in both directions along strike and down -
dip.
AZARGA METALS CORP.
"Michael Hopley"
Michael Hopley,
President and Chief Executive Officer
For further information please contact: Doris Meyer, at +1 604 536 -2711 ext. 6, visit
www.azargametals.com, or follow us on Twitter @AzargaMetals. The address of the head office
of Azarga Metals is Unit 1 - 15782 Marine Drive, White Rock, BC V4B 1E6, British Columbia,
Canada.
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.
Page 6
AZARGA METALS CORP.
UNIT 1 – 15782 MARINE DRIVE, WHITE ROCK, B.C. V4B 1E6, CANADA
www.azargametals.com
Cautionary Statement:
This news release contains forward -looking statements that are based on the Corporation'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 implied 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; possible variations in mineralization grade or recovery rates; accidents, labor disputes and other
risks of t he mining industry; delays in obtaining governmental 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 and,
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 res ults or
otherwise. Forward-looking statements are not a guarantee of future performance and accordingly undue
reliance should not be put on such statements due to the inherent uncertainty therein.