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Azarga Uranium Identifies Additional Uranium Mineralization at Dewey Burdock

 

 

 

 

 

AZARGA URANIUM CORP. (TSX:AZZ) is pleased to announce that the Company has identified additional uranium mineralization at its initial development priority, the Dewey Burdock in-situ recovery uranium project in South Dakota.  The Company has identified this mineralization through its continued analysis of historical data owned by the Company 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 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 permits from the Environmental Protection Agency 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.

 

Posted February 8, 2018

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