Azarga Uranium Corp.
Thursday, February 08, 2018 - 7:00 AM EST

Azarga Uranium Identifies Additional Uranium Mineralization at Dewey Burdock



Vancouver, British Columbia (FSCwire) - AZARGA URANIUM CORP. (TSX:AZZ) (“Azarga Uranium” or the “Company”) is pleased to announce that the Company has identified additional uranium mineralization at its initial development priority, the Dewey Burdock in-situ recovery (“ISR”) uranium project in South Dakota (the “Dewey Burdock Project”).  The Company has identified this mineralization through its continued analysis of historical data owned by the Company (the “Data Set”) and the evaluation of revised ISR cutoff criteria, consistent with other producing ISR projects in nearby Wyoming.

 

Highlights of the additional uranium mineralization at the Dewey Burdock Project includes:

 

  • 107 mineralized drill holes with 111 intercepts equal to or exceeding a 0.2 grade-thickness (GT) cutoff using a .02% grade cutoff with an average eU308 grade of 0.105% and an average thickness of 5.5 feet

 

○ 26% of the mineralized drill holes exceed a 0.5 GT cutoff

 

  • Falls within the existing Nuclear Regulatory Commission (“NRC”) License boundary for the Dewey Burdock Project

 

  • Contiguous with ISR amenable resources already identified at the Dewey Burdock Project

 

  • Provides further indication that the resource trends head west towards the Company’s Dewey Terrace Project

 

  • Indicates the potential expansion of the Dewey Burdock Project resource to the north and the south within the NRC License boundary

 

“We are very excited that our analysis of the Data Set and the evaluation of revised ISR cutoff criteria has identified additional uranium mineralization at the Dewey Burdock Project. The newly identified uranium mineralization indicates the potential to increase uranium resources at the Dewey Burdock Project.  Further, to this point, the analysis of the Data Set and the revised ISR cutoff criteria has only focused on the Dewey area of the project, which represents approximately 40% of the current resource estimate.  As we continue our review of the Data Set, we expect that further uranium mineralization will be identified at the Burdock area of the project. Additionally, the Burdock area of the project contains substantially more historical drilling than the Dewey area,” said John Mays, Chief Operating Officer.

 

The following table provides a detailed summary of the results for the 107 mineralized drill holes with 111 intercepts that equal or exceed a 0.2 GT cutoff using a .02% grade cutoff:

 

Hole ID

 

Zone

 

Depth

(ft)

Thickness

(ft)

GT

 

Avg.

Grade (%)

 

Hole ID

 

Zone

 

Depth

(ft)

Thickness

(ft)

GT

 

Avg.

Grade (%)

DB 08-32-7

F11

557.0

5.5

0.63

0.114

 

ELA 75

F12

551.0

6.0

0.33

0.055

DWA 100

F12

477.0

6.5

0.21

0.033

 

ELA 76

F12

550.5

15.5

1.43

0.092

DWA 123

F11

580.5

8.0

0.50

0.062

 

ELA 80

F12

560.5

3.0

0.46

0.154

DWA 124

F11

573.0

5.0

0.66

0.132

 

ELA 81

F12

546.5

3.5

0.24

0.068

DWA 129

F11

576.5

6.5

0.39

0.059

 

ELA 87

F12

536.5

6.5

0.32

0.049

DWA 14

L5

776.0

11.5

0.39

0.034

 

ELA 89

F12

554.0

4.5

0.38

0.084

DWA 159

L6

723.0

3.5

0.27

0.076

 

ELA 90

F12

577.0

2.5

0.26

0.104

DWA 18

L6

668.0

6.5

0.41

0.063

 

ELA 92

F10

606.5

1.0

0.43

0.429

DWA 190

F11

585.5

4.0

0.33

0.082

 

ELA 94

L5

780.5

4.5

1.24

0.276

DWA 21

L5

697.0

2.0

0.25

0.124

 

ELM 3

F11

573.0

2.5

0.40

0.160

DWA 27

F11

579.5

6.0

0.58

0.096

 

ELM 38

F12

616.0

6.0

0.23

0.039

DWA 31

F11

582.5

5.5

0.43

0.077

 

ELM 4

F11

603.0

3.5

0.33

0.093

DWA 40

F13

475.5

2.0

0.25

0.124

 

ELM 52

L2B

851.0

3.5

0.30

0.085

DWA 49

L3

714.5

2.0

0.34

0.171

 

ELR 1

F11

594.5

8.5

0.29

0.035

DWM 1

L4

702.0

14.0

0.45

0.032

 

ELR 16

F11

612.0

4.0

0.23

0.057

DWM 13

F12

463.5

1.5

0.20

0.134

 

ELR 18

F11

602.0

9.5

0.59

0.062

DWM 29

L4

670.5

7.0

0.47

0.067

 

ELR 19

F12

568.0

2.0

0.21

0.105

DWM 3

F13

484.5

2.0

0.31

0.154

 

ELR 24

F10

609.5

4.5

0.39

0.087

DWM 3

L1

777.5

8.0

1.04

0.130

 

ELR 27

F12

527.0

5.0

0.27

0.054

DWM 57

F12

572.0

3.5

0.23

0.066

 

ELR 33

F10

580.5

17.5

0.72

0.041

DWM 8

L5

629.5

4.0

0.51

0.127

 

ELR 35

F12

527.0

4.0

0.57

0.142

DWR 103

F12

564.0

4.5

0.24

0.054

 

ELR 40

F12

531.0

3.0

0.22

0.073

DWR 37

F12

583.0

6.0

0.28

0.046

 

ELR 43

F12

531.5

4.0

0.25

0.063

DWR 37

F11

601.5

1.0

0.21

0.208

 

ELR 46

F12

534.5

5.5

0.45

0.082

DWR 4

F12

574.5

4.5

1.01

0.223

 

ELR 49

F11

574.0

5.0

0.24

0.047

DWR 41

F12

578.5

6.0

0.28

0.046

 

ELR 49

F10

590.0

17.5

0.81

0.046

DWR 67

F12

578.5

11.5

0.27

0.023

 

ELR 53

F12

537.0

3.0

0.23

0.076

DWT 13

L4

792.5

9.0

0.54

0.060

 

ELR 54

F10

612.0

11.0

0.74

0.067

DWT 2

F12

470.0

5.0

0.40

0.080

 

ELR 57

F10

592.5

7.0

0.23

0.033

DWT 21

L2B

836.5

5.5

0.92

0.166

 

ELR 58

F12

546.5

5.0

0.29

0.058

DWT 22

F11

578.5

4.0

0.44

0.110

 

ELR 60

F12

522.0

5.5

0.48

0.088

DWT 30

F12

581.0

3.0

0.33

0.110

 

ELR 62

F12

534.0

7.5

0.56

0.075

DWT 48

F12

446.0

2.0

0.22

0.110

 

ELR 67

F12

572.0

1.5

0.24

0.163

DWT 51

L4

660.0

4.0

0.57

0.143

 

ELR 68

F11

577.0

3.5

0.27

0.078

DWT 56

F12

417.5

4.5

0.45

0.100

 

ELR 82

F12

522.0

2.0

0.22

0.112

DY 273

L1

870.5

4.0

0.40

0.100

 

ELR 89

F10

583.5

8.0

0.28

0.034

DY 301

L3

840.0

2.0

0.29

0.145

 

ELR 93

F10

611.0

5.0

0.54

0.108

DY 99-3

L1

894.0

7.0

0.85

0.121

 

ELT 13

L2B

757.5

3.0

1.08

0.360

ELA 101

F10

608.0

6.0

0.40

0.067

 

ELT 24

F12

615.0

7.0

0.49

0.070

ELA 105

F12

536.5

3.5

0.26

0.075

 

ELT 28

F12

540.5

6.5

0.33

0.050

ELA 106

F12

522.5

3.0

0.35

0.115

 

ELT 36

F12

523.0

1.0

0.26

0.260

ELA 108

F12

556.5

8.0

0.50

0.063

 

ELT 50

F12

581.5

1.0

0.25

0.245

ELA 109

F12

565.0

2.5

0.22

0.087

 

ELT 62

L2B

851.5

2.5

0.54

0.217

ELA 12

F12

546.0

23.5

1.27

0.054

 

ELT 64

L2B

866.0

4.5

0.63

0.139

ELA 14

F12

531.5

7.5

0.44

0.058

 

ELT 67

L4

834.0

3.0

1.59

0.529

ELA 17

F11

577.5

4.0

0.22

0.056

 

ELT 95

F11

594.0

13.0

0.27

0.021

ELA 25

F11

579.0

10.0

0.72

0.072

 

ELT 96

F12

558.0

5.5

0.45

0.082

ELA 25

F10

596.5

3.5

0.29

0.082

 

PUA 3

F12

528.0

5.5

0.21

0.037

ELA 26

F11

573.0

1.5

0.23

0.151

 

PUR 27

F12

532.0

6.0

0.31

0.052

ELA 28

F12

570.0

8.0

0.33

0.041

 

PUR 3

F10

608.0

10.0

0.20

0.020

ELA 33

F12

537.0

9.0

0.38

0.042

 

PUR 30

F10

606.0

2.0

0.42

0.210

ELA 42

F12

566.0

4.0

0.22

0.054

 

PUR 38

F12

526.5

7.5

0.32

0.042

ELA 44

F12

568.5

4.0

0.38

0.095

 

PUR 46

F11

551.0

1.0

0.37

0.370

ELA 48

F12

562.5

8.5

0.59

0.070

 

PUR 7

F10

608.5

2.5

0.45

0.180

ELA 64

F13

525.5

1.5

0.23

0.153

 

PUR 8

F12

540.0

2.5

0.33

0.130

ELA 67

F12

556.0

7.0

0.39

0.056

             

 

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in NI 43-101 and was reviewed by John Mays, P.E., Chief Operating Officer for the Company and a Qualified Person under NI 43-101. 

 

The Data Set includes historical drilling information that has been reviewed by the Company’s geological team, as well as 91 exploratory drill holes completed by the Company in a previous exploration campaign.  The Company’s review of the records and information within the Data Set reasonably substantiate the validity of this information; however, the Company cannot directly verify the accuracy of the historical data, including the procedures used for sample collection and analysis. Therefore, the Company encourages investors not to place undue weight on these results. 

 

The Company’s current resource estimate and preliminary economic assessment dated April 21, 2015, with an effective date of January 29, 2015, for the Dewey Burdock Project use a cutoff grade of 0.05% and GT of 0.5; whereas, the intercepts identified above utilize a cutoff grade of 0.02% eU3O8 and GT of 0.2, which is consistent with other producing ISR projects in nearby Wyoming.

 

About Azarga Uranium Corp.

 

Azarga Uranium is an integrated uranium exploration and development company that controls six uranium projects, deposits and prospects in the United States of America (South Dakota, Wyoming and Colorado) and the Kyrgyz Republic. The Dewey Burdock Project, which is the Company’s initial development priority, has received its NRC License and draft Class III and Class V Underground Injection Control (“UIC”) permits from the Environmental Protection Agency (“EPA”) and the Company is in the process of completing other major regulatory permit approvals necessary for the construction of the Dewey Burdock Project, including the final Class III and Class V UIC permits from the EPA.

 

For more information please visit www.azargauranium.com.

 

Follow us on Twitter at @AzargaUranium.

 

For further information, please contact:

 

John Mays, COO

+1 303 790-7528

 

            E-mail: info@azargauranium.com

 

Disclaimer for Forward-Looking Information

 

Certain statements in this news release are forward-looking statements, which reflect the expectations of management regarding its disclosure and amendments thereto. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements may include, but are not limited to, statements with respect to the Company’s continued efforts to obtain all major regulatory permit approvals necessary for the construction of the Dewey Burdock Project, including the final Class III and Class V UIC permits from the EPA, the potential expansion of the Dewey Burdock Project resource to the north and the south within the NRC License boundary, the potential to increase uranium resources at the Dewey Burdock Project and the Company’s expectation that further uranium mineralization will be identified at the Burdock area of the project. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions, which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including without limitation: (1) the risk that the Company does not obtain all major regulatory permit approvals necessary for construction of the Dewey Burdock Project, including the final Class III and Class V UIC permits from the EPA, (2) the risk that the Dewey Burdock Project resource is not expanded to the north and the south within the NRC License boundary, (3) the risk that uranium resources at the Dewey Burdock Project are not increased, (4) the risk that further uranium mineralization is not identified at the Burdock area of the project, (5) the risk that such statements may prove to be inaccurate and (6) other factors beyond the Company's control. These forward-looking statements are made as of the date of this news release and, except as required by applicable securities laws, the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements. Additional information about these and other assumptions, risks and uncertainties are set out in the "Risks and Uncertainties" section in the Company's most recent MD&A filed with Canadian security regulators.

 

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release.



To view the associated document to this release, please click on the following link:
public://news_release_pdf/AzargaUranium02082018.pdf



Source: Azarga Uranium Corp. (TSX:AZZ, OTC Bulletin Board: PWURF, FWB:P8AA)

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