“The opportunity to build and operate a mine is there for us. Unkur is ideally situated to get those copper and precious metals like silver down to far eastern, Chinese and other end-user markets,“ said Azarga Metals CEO Gordon Tainton.
Azarga Metals CEO Gordon Tainton spoke about Azarga Metals’ (TSXV:AZR) positive findings in an updated preliminary economic assessment (PEA) for the development of its wholly owned Unkur copper-silver project in the Zabaikalsky administrative region of Eastern Russia.
The Unkur copper-silver project is strategically located near one of Russia’s Trans Siberian railways. The area is also home to the world’s third largest-known copper resource, the largest titanium deposit and the world’s largest recorded vanadium deposit.
“The key outcomes propose an average annual production of 11,700 tonnes per annum of copper and 2.9 million ounces per annum of silver, both in concentrate with a mine life of over 14 years. Also we have a four year open-pit mining opportunity at 2.75 million tonnes per annum followed by 10 years of underground mining that is 2 million tonnes per annum,” said Tainton.
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The base PEA case is considered an alternative open-pit-only case to mine and process the oxide material only for four years with a post-tax net present value (NPV) of US$95.1 million and an internal rate of return (IRR) of 46.3 percent (at consensus prices), and a NPV of US$162.2 million and an IRR of 70.1 percent (at May 2021 spot prices).
“The opportunity to build and operate a mine is there for us. We’ve got a large, fairly unexplored license, which has very good mineralization. We are literally 30 kilometers from the world’s third largest-known copper deposit. Unkur is ideally situated to get those copper products and precious metals like silver down to far eastern, Chinese and other end-user markets,” added Tainton.
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