Azarga Metals initiates an induced polarization survey on the high-grade copper Marg VMS project in the Yukon

VANCOUVER, BC / ACCESSWIRE / September 20, 2022 / AZARGA METALS CORP. (“Azarga Metals“or the”Company“) (TSX-V: AZR) is pleased to announce that it has initiated an induced polarization (“IP”) survey on its Marg high-grade volcanogenic massive sulphide (“VMS”) project (the “Marg Project”) in the Silver District of Keno Hill, Yukon Territory.

President, CEO and Director Gordon Tainton said: “Abitibi Geophysics has begun a 27 line kilometer program using its proprietary OreVision® induced polarization survey method at the Company’s Marg project. VMS projects across Canada to locate and define disseminated sulphide halos related to VMS alteration frequently enveloping and indicating the probable presence of nearby high-grade, Au-Ag-Cu-Zn-rich massive sulphides. data to identify high prospectivity drill targets to extend known Marg mineralization to the north and west of the existing deposit.”

It is anticipated that the OreVision® IP survey method will provide an excellent means of confirming the presence of disseminated sulphide alteration halos up to 580 meters below surface and confirming their association with known Marg VMS lenses. Ideally, geophysical inversions of newly acquired IP survey data will eventually result in the creation of 3D isoshells depicting strong chargeability and resistivity anomalies hidden beneath the many conductive “marker horizons” of graphite and barren sulphide that span the full length and width of the Marg property and which frequently occur as “cap rocks” of the underlying VMS systems, such as at the Marg deposit. While conventional electromagnetic (“EM”) systems are often used to target VMS mineralization, the ubiquitous presence of formation graphite and barren sulphide anomalies throughout the Marg Project area makes EM targeting more difficult. without additional geological, geochemical and/or geophysical support.

As shown in Figure 1 below, the primary area of ​​interest for the OreVision® survey is a strong, largely untested, copper-in-ground anomaly that occurs along a possible northern fold repeat of the ‘Marg VMS horizon currently known. A multitude of possibilities for very tightly folded growth faults controlling the VMS, as defined by the interpreted magnetic lineups and illustrated in Figure 1 below, will also be examined by the IP survey. The overall objective is to identify high prospectivity drill targets to extend the known Marg mineralization to the north and west of the existing deposit.

Figure 1 – Location of OreVision® 2022 survey, historical drill holes and Cu in soil heat map

Azarga Metals Corp., Tuesday, September 20, 2022, press release photo

ABOUT THE MARG PROJECT

The most recent NI 43-101 mineral resource estimate for the Marg project (see Table 1 below) was completed by Mining Plus Canada Consulting Ltd. in 2016 and incorporated into a preliminary economic assessment (“PEA”) for the project (note: the title of the PEA is “Revere Development Corp, Marg Project Preliminary Economic Assessment, Technical Report, Yukon Canada” and is dated 31 August 2016).

The Mineral Resource estimate in the 2016 PEA was prepared in accordance with NI 43-101 standards and is considered by Azarga management to have a high degree of reliability, however, the resource has not been verified by Azarga and is considered historical in nature. A qualified person representing Azarga has not done sufficient work to classify the historical estimate as a current mineral resource and Azarga does not treat it as a current mineral resource.

Table 1 – Historical Resource Estimate as of August 31, 2016 for the Marg Project at a cut-off grade of 0.5% copper equivalent (combining high and low grade zones)1

Category

Tonnage (mt)

Cu%

Pb%

Zn%

Ag g/t

August/t

Noted

3.7

1.5

2.0

3.8

48

0.76

Inferred

6.1

1.2

1.7

3.4

44

0.74

Note: 1. Where CuEq% was calculated = Cu% + 0.28 Pb% + 0.32 Zn% + 0.39 Au g/t + 0.0055 Ag g/t, which was evaluated based on the following metal price and recovery assumptions: Cu price of US$2.5/lb and 80% recovery (96.5% payable); Pb price of US$0.8/lb and 70% recovery (95% payable); Zn price of US$0.8/lb and 90% recovery (85% payable); Price Au of US$1100/oz and 50% recovery (90% payable); and Ag price of US$16/oz and 50% recovery (90% payable).

Qualified person

James Pickell, P.Geo., Consultant to Azarga Metals and a Qualified Person as defined by NI 43-101, has verified the disclosed data and has reviewed and approved the disclosure contained in this press release.

About Azarga Metals Corp.

Azarga Metals is a mining exploration and development company that owns 100% of the high-grade copper VMS Marg project located in the Mayo mining district in central Yukon, approximately 40 kilometers east of the city of Keno (itself located approximately 465 kilometers by road north of Whitehorse).

AZARGA METALS CORP.

“Gordon Tinton”

Gordon Tinton,
President and CEO

For more information, please contact Doris Meyer, at +1 604 536-2711 ext. 3, or Gordon Tainton, at +1-604-248-8380 or visit www.azargametals.com or follow us on Twitter @AzargaMetals. The registered office address 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.

Caution :

This press release contains forward-looking statements within the meaning of applicable securities laws. The use of any of the words “aim”, “ambition”, “estimate”, “conclude”, “offer”, “aim”, “may”, “will”, “should”, “potential” and Similar expressions are intended to identify forward-looking statements. In particular, this press release contains forward-looking statements, including, but not limited to, the Company’s IP program for the Marg Project and the overall objective of this program to identify high-prospectivity drill targets. to extend known Marg mineralization to the north and west. of the existing deposit, the Company’s ability to carry out part or all of this program and the Company’s ability to close its private placement financing as announced on August 29, 2022 in order to provide the Company with sufficient funds to carry out the program. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements as the Company cannot guarantee that they will prove to be correct. Because forward-looking statements address future events and conditions, they involve inherent assumptions, risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of assumptions, factors and risks. These assumptions and risks include, but are not limited to, assumptions and risks associated with the state of the equity financing markets, the results of the Company’s future exploration activities and the Company’s ability to conduct for its future exploration activities. Management has provided the above summary of the risks and assumptions associated with the forward-looking statements in this press release in order to provide readers with a more complete perspective on the Company’s future operations. The actual results, performance or achievements of the Company could differ materially from those expressed or implied by such forward-looking statements and, therefore, no assurance can be given that any of the events anticipated by the forward-looking statements will occur or will occur, or if any of them do, what benefits the Company will derive. These forward-looking statements are made as of the date of this press release and, except as required by applicable securities laws, the Company disclaims any intention or obligation to publicly update any forward-looking statement, whether as a result new information, future events or results or otherwise.

THE SOURCE: Azarga Metals Corp.

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