AZARGA URANIUM CORP. (TSX:AZZ) (“Azarga Uranium” or the “Company”) has identified uranium mineralization at the Company’s Dewey Terrace Project through the analysis of historical data owned by the Company (the “Data Set”). The Dewey Terrace Project is located in Wyoming, adjacent to the Company’s NRC licensed Dewey Burdock in-situ recovery uranium Project (the “Dewey Burdock Project”).
Highlights of the analysis at Dewey Terrace include:
- 91 mineralized drill holes with 129 intercepts equal to or exceeding a 0.2 grade-thickness (GT) cutoff using a .02% grade cutoff with an average eU308 grade of 0.062% and an average thickness of 7.4 feet
- Uranium mineralization covering seven (7) separate mineralized zones over a trend of approximately 2.5 miles
- Mineralization within the same ore bearing sandstone as the Dewey Burdock Project and conditions that indicate possible in-situ recovery (“ISR”) amenability
“We are very pleased to see that our initial analysis indicates uranium resource potential at the Dewey Terrace Project. The Data Set confirms that within the same Inyan Kara sands as the Dewey Burdock Project, uranium mineralization, potentially suitable for ISR, exists. This uranium mineralization indicates possibilities for further discoveries in the vicinity of the Company’s Dewey Terrace and Dewey Burdock Projects. We believe that further analysis of the Data Set will allow expansion of our uranium resources and the location of the identified uranium mineralization at the Dewey Terrace Project presents an opportunity for a nearby satellite project, within 10 miles of the Dewey Burdock Project, the Company’s initial development priority,” said John Mays, Chief Operating Officer.
The Data Set identified 259 mineralized drill holes indicating significant potential for a new resource area at the Dewey Terrace Project. Further, deposition is consistent with sand channel systems categorized within the Dewey Burdock Project. Several drill holes encountered multiple intercepts demonstrating a vertically stacked group of separate mineralized zones similar to those at the Dewey Burdock Project. The objective of the Data Set analysis is to identify uranium mineralization in a cost effective manner in the vicinity of the Company’s Dewey Terrace and Dewey Burdock Projects. The Company is continuing its review of the Data Set for further uranium mineralization with the objective of identifying additional uranium resources.
The following table provides a detailed summary of the results for the 91 mineralized drill holes with 129 intercepts that equal or exceed a 0.2 GT cutoff using a .02% grade cutoff:
Hole ID Zone Depth
(ft)Thickness
(ft)Avg.
GTAvg.
Grade (%)DEX 033 LE 649.5 6.3 0.21 0.034 DEX 035 UD 627.0 9.5 0.39 0.041 DEX 039 LE 650.0 10.5 0.47 0.045 DEX 052 LD 640.0 1.2 0.50 0.417 DEX 075 UD 602.3 4.0 0.26 0.066 DEX 097 C 586.5 12.0 0.31 0.026 DEX 101 C 589.0 2.0 0.23 0.114 DEX 113 UE 622.0 3.2 0.21 0.065 DEX 113 UD 590.5 2.9 0.32 0.112 DEX 116 LE 642.0 5.0 0.33 0.067 DEX 125 C 585.0 6.1 0.21 0.035 DEX 133 LE 638.8 3.7 0.24 0.064 DEX 144 UD 604.3 3.5 0.27 0.076 DEX 144 LD 613.0 8.2 0.49 0.060 DEX 168 LE 632.3 2.7 0.25 0.092 DEX 172 UD 599.5 6.3 0.22 0.035 DEX 175 UE 626.1 2.7 0.24 0.089 DEX 200 LD 718.2 10.9 0.29 0.026 DEX 204 UD 665.8 11.0 0.25 0.023 DEX 220 C 578.0 3.1 0.25 0.080 DEX 220 UE 624.4 5.8 0.61 0.105 DEX 230 LE 650.3 1.5 0.26 0.170 DEX 231 UD 594.0 5.0 0.94 0.187 DEX 233 UE 617.5 5.5 0.31 0.056 DEX 237 UE 638.5 3.8 0.20 0.053 DEX 237 C 604.7 6.3 0.30 0.048 DEX 240 LE 628.0 9.0 0.90 0.100 DEX 241 C 594.0 7.2 0.28 0.039 DEX 245 LD 615.0 6.3 0.24 0.038 DEX 245 UD 599.9 9.7 0.45 0.046 DEX 245 C 581.9 12.6 0.52 0.041 DEX 251 UE 677.0 4.0 0.22 0.055 DEX 260 LD 663.5 9.5 0.24 0.026 DEX 263 LE 641.5 8.5 0.26 0.030 DEX 264 LD 620.8 6.9 0.24 0.035 DEX 268 LE 620.2 8.1 0.21 0.025 DEX 268 UE 608.5 10.1 0.41 0.041 DEX 272 UD 588.5 3.5 0.23 0.067 DEX 275 UE 619.9 5.4 0.35 0.064 DEX 275 UD 589.7 4.0 0.36 0.089 DEX 275 LD 604.5 8.0 0.36 0.045 DEX 278 UD 592.0 4.8 0.32 0.067 DEX 278 LE 634.3 4.3 0.34 0.078 DEX 283 C 582.1 6.0 0.24 0.039 DEX 284 UD 596.0 11.3 0.56 0.049 DEX 288 UE 616.6 7.4 0.21 0.029 DEX 288 LD 607.0 4.5 0.35 0.077 DEX 288 UD 595.1 8.2 0.40 0.049 DEX 288 C 579.5 7.9 0.47 0.060 DEX 289 UE 619.0 7.5 0.75 0.099 DEX 291 UE 634.9 6.1 0.39 0.065 DEX 292 LD 620.0 6.7 0.34 0.050 DEX 292 UE 634.0 10.6 0.38 0.036 DEX 297 LE 631.2 4.3 0.22 0.051 DEX 297 UE 617.0 9.3 0.47 0.051 DEX 308 LE 675.0 7.5 0.51 0.068 DEX 309 LD 619.0 6.8 0.21 0.031 DEX 326 LD 632.0 9.4 0.39 0.041 DEX 326 UD 622.0 6.0 0.56 0.094 DEX 327 LD 620.0 8.0 0.22 0.027 DEX 328 UE 625.5 11.5 0.47 0.041 DEX 338 C 591.8 2.7 0.33 0.123 DEX 339 C 591.5 6.6 0.41 0.062 DEX 340 LD 630.0 3.8 0.23 0.061 DEX 340 UD 618.3 7.0 0.28 0.040 DEX 341 C 590.0 4.6 0.32 0.068 DEX 344 UD 608.0 8.2 0.38 0.047 DEX 344 LD 619.5 9.5 0.43 0.046 DEX 348 UD 618.5 3.2 0.20 0.064 DEX 362 UE 618.3 12.9 0.41 0.032 DEX 362 UD 595.0 19.5 0.45 0.023 DEX 374 LE 631.3 7.5 0.23 0.030 DEX 375 LD 603.8 10.2 0.22 0.022 DEX 378 UD 616.0 9.0 0.41 0.045 DEX 378 LD 625.0 10.5 0.47 0.045 DEX 384 C 582.3 6.9 0.29 0.042 DEX 386 C 598.5 7.0 0.27 0.039 DEX 387 LD 632.3 7.8 0.84 0.107 DEX 388 UD 591.0 14.0 0.66 0.047 DEX 391 UD 584.5 6.0 0.22 0.036 DEX 392 LD 627.0 9.3 0.25 0.027 DEX 392 C 591.0 10.5 0.38 0.036 DEX 392 UD 611.1 4.0 0.70 0.175 DEX 393 UD 609.0 2.7 0.46 0.170 DEX 393 C 598.3 2.3 0.50 0.219 DEX 393 LD 618.8 11.0 0.79 0.072 DEX 397 C 578.1 9.5 0.23 0.024 DEX 398 C 578.0 9.3 0.21 0.023 DEX 398 UD 593.7 6.7 0.47 0.070 DEX 398 LD 610.5 8.1 0.55 0.069 DEX 403 LD 613.5 11.3 0.35 0.031 DEX 403 C 588.9 12.6 0.36 0.029 DEX 404 UB 562.0 15.3 0.38 0.025 DEX 417 C 583.3 11.6 0.45 0.038 DEX 417 LD 611.2 10.8 0.59 0.055 DEX 418 LD 619.0 4.9 0.28 0.057 DEX 426 LD 595.0 10.6 0.32 0.030 DEX 426 UD 583.5 2.4 0.38 0.158 DEX 431 UE 614.0 5.2 0.28 0.054 DEX 432 UD 594.1 9.8 0.36 0.037 DEX 441 C 571.0 9.3 0.25 0.027 DEX 441 UD 587.0 15.6 1.01 0.065 DEX 442 UE 618.3 6.1 0.33 0.055 DEX 442 LD 602.5 12.8 0.48 0.038 DEX 451 LD 609.0 4.9 0.34 0.070 DEX 451 UD 600.0 6.3 0.45 0.071 DEX 456C LD 632.0 9.8 1.07 0.110 DEX 458 LD 614.1 5.1 0.26 0.051 DEX 458 UD 600.1 8.8 0.34 0.038 DEX 459 UD 584.9 12.2 0.38 0.031 DEX 460 UD 593.3 9.0 0.30 0.033 DEX 462 LD 589.5 4.5 0.26 0.057 DEX 462 UD 575.2 6.5 0.31 0.047 DEX 463 UD 592.0 5.3 0.22 0.042 DEX 463 LD 603.3 5.7 0.31 0.054 DEX 464 UD 593.2 5.8 0.24 0.041 DEX 464 C 584.0 6.7 0.27 0.040 DEX 469 UD 582.1 5.0 0.37 0.074 DEX 471 UE 598.3 13.2 0.70 0.053 DEX 473 UD 576.0 3.2 0.20 0.063 DEX 474 C 585.0 3.1 0.23 0.076 DEX 474 LD 610.2 5.0 0.37 0.074 DEX 475 UD 581.5 8.9 0.24 0.026 DEX 479 UD 582.0 11.8 0.35 0.030 DEX 479 LD 599.5 4.6 0.42 0.091 DEX 482 LD 585.9 6.4 0.42 0.065 DEX 483 C 565.0 10.9 0.54 0.050 ST 23 FR 492.0 13.5 0.38 0.028 TER 07-11 UD 599.0 5.5 0.26 0.047 The Company also identified 93 drill holes with 112 intercepts that had GT values ranging from 0.1 to 0.2 GT based on review of the Data Set. These intercepts had an average thickness of 4.1 feet with an average grade of 0.041% eU3O8. The remaining 187 drill holes reviewed to date range from barren to an average GT of 0.1.
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 (“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 20 exploratory drill holes completed by the Company in a previous exploration campaign. The exploratory drill holes completed by the Company confirm the presence of uranium mineralization at the Dewey Terrace Project. 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.
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 in-situ recovery uranium project in South Dakota (the “Dewey Burdock Project”), which is the Company’s initial development priority, has received its Nuclear Regulatory Commission 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.
Source: Azarga Uranium Corp.
