Azarga Metals Corp estimates that it has the equivalent of 124 million ounces of silver at its Unkur Copper-Silver Project in eastern Russia. The company has recently received a maiden resource estimate for Unkur, which is in the Zabaikalsky region.
The estimate puts the inferred mineral resource at 42 million tonnes @ 0.52% copper and 38 grams/tonne (g/t) silver, containing 220,000 tonnes of copper and 52 million ounces of silver. This equates to around 380,000 tonnes of copper equivalent at 0.90% or around 124 million ounces of silver equivalent at 91 g/t.
Azarga’s president and chief executive officer Dusty Nicol says the estimate represents “a very successful result” from the company’s first few months of physical exploration at Unkur.
“Importantly, mineralisation is open in multiple directions, which supports growth potential,” he explains.
Company management has long maintained that the Unkur project has the potential to be a ‘globally significant copper-silver deposit’ and the maiden resource estimate underpins this belief.
Azarga believes there is strong potential to grow the resource beyond that identified in the maiden estimate. The mineralisation is open in both directions along strike and further exploration drilling will aim to extend mineralisation along strike. It is also open down-dip.
It says that of key interest for growth potential is the zone of thicker and higher grade mineralisation in the northern part of the inferred mineral resource area.
The next phase of work will focus on using geologic and geophysical exploration to target potential extensions of this higher grade zone.
Azarga said that in addition to the area covered by the first estimate, there are numerous additional occurrences of copper-silver mineralisation and geochemical/geophysical anomalies within the company’s 5390 hectare Unkur licence.