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Azarga Metals shares soar as it starts 6,000m drilling program at Unkur copper and silver project

The asset lies in the Zabaikalsky province in Russia's Far East

Azarga Metals -
Unkur already boasts an inferred resource of 62 million tonnes of material at 0.53% copper and 38.6 g/t silver, or 91g/t silver equivalent

Azarga Metals Corp (CVE:AZR) told investors that a 6,000 meter core drilling program had kicked off at its Unkur copper and silver project in the Zabaikalsky province in Russia's Far East following the completion of a geophysical survey. 

Unkur already boasts an inferred resource of 62 million tonnes of material at 0.53% copper and 38.6 g/t silver, or 91g/t silver equivalent. Notably, the project is open in both directions along strike and also down dip.

Shares in Toronto surged 25% to $0.10 on the day.

Magnetic survey data already existed over the northwest part, or around 20%, of Unkur, where all previous drilling and the current resource lies.

Now, the remaining part of the property, about 41 square km, has been covered via the survey to guide this drilling program.

Since kicking off in early August, a geophysical contractor has now completed both a ground magnetic survey and nine induced polarization (IP) traverses, totaling 28-line km.

.Drilling has now started at the property and is expected to be completed by spring 2020 with assay results expected throughout, Azarga said.

Unkur lies in the Chara-Aldan area, encompassing around 320,000 sq km and is home to the KodarUdokan Basin, which is known to host major copper deposits, such as Udokan.

---Updates for share price---

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Quick facts: Azarga Metals

Price: 0.08 CAD

TSX-V:AZR
Market: TSX-V
Market Cap: $7.65 m
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Azarga Metals seeing good results on their latest drilling at Unkur...

Azarga Metals (CVE: AZR) Vice President of Exploration Dr Alexander Yakubchuk joined Proactive's Andrew Scott at PDAC in Toronto to discuss the mineral exploration and development company that owns 100% of the Unkur Copper-Silver Project in the Zabaikalsky province in eastern Russia. Dr...

on 2/3/20

2 min read