• Connect with us
    • Information
      • About Us
      • Contact Us
      • Careers
      • Partnerships
      • Advertise With Us
      • Authors
      • Browse Topics
      • Events
      • Disclaimer
      • Privacy Policy
    • Australia
      North America
      World
    Login
    Investing News NetworkYour trusted source for investing success
    • North America
      Australia
      World
    • My INN
    Videos
    Companies
    Press Releases
    Private Placements
    SUBSCRIBE
    • Reports & Guides
      • Market Outlook Reports
      • Investing Guides
    • Button
    Resource
    • Precious Metals
    • Battery Metals
    • Base Metals
    • Energy
    • Critical Metals
    Tech
    Life Science
    Energy Market
    Energy News
    Energy Stocks
    • Energy Market
    • Energy News
    • Energy Stocks
    uranium investing

    Azarga Uranium Files NI 43-101 Technical Report for Increased Resource at Dewey Burdock

    Ashley Cowell
    Dec. 24, 2018 04:59AM PST
    Energy Investing
    TSX:AZZ

    Azarga Uranium Corp. (TSX:AZZ, OTCQB: AZZUF, FRA: P8AA) (“Azarga Uranium” or the “Company”) has filed a technical report supporting the increased National Instrument 43-101 (“NI 43-101”) resource estimate for its initial development priority, the Dewey Burdock in-situ recovery (“ISR”) uranium project in South Dakota (the “Dewey Burdock Project”) announced on 14 November 2018.

    Azarga Uranium Corp. (TSX:AZZ, OTCQB: AZZUF, FRA: P8AA) (“Azarga Uranium” or the “Company”) has filed a technical report supporting the increased National Instrument 43-101 (“NI 43-101”) resource estimate for its initial development priority, the Dewey Burdock in-situ recovery (“ISR”) uranium project in South Dakota (the “Dewey Burdock Project”) announced on 14 November 2018. The Company expects to complete an updated preliminary economic assessment in the second quarter of 2019 based on the increased resource estimate.

    Highlights:

    • Measured ISR resource increases to 13.78 million pounds U3O8 from 4.12 million pounds U3O8 (234% increase)
    • Measured and Indicated ISR resources increase to 16.94 million pounds U3O8 from 8.58 million pounds U3O8 (97% increase)
    • Updated mineral resource estimate falls within the existing Nuclear Regulatory Commission License boundary
    • Larger and more contiguous resource likely to achieve improved project economics compared to existing preliminary economic assessment
    • Several miles of lightly explored, mineralized trends remain to be further delineated

    Updated Mineral Resource Estimate – 12 November 20181

    Dewey Burdock Project ISR Mineral Resource estimate

     

    Measured ResourcesIndicated ResourcesMeasured plus Indicated ResourcesInferred Resources
    Tons5,200,0002,328,0007,528,000732,000
    Average grade (% U3O8)0.1320.0680.1130.056
    Average thickness (feet)5.515.835.695.95
    Average grade-thickness (“GT”)0.7300.3960.6400.333
    Uranium (pounds)13,779,0003,160,00016,939,000818,000
      1. Mineral resources that are not mineral reserves do not have demonstrated economic viability.

      In addition to the ISR mineral resource estimate, the NI 43-101 resource estimate includes an additional 1,060,000 pounds of non-ISR (located above the water table) Measured resources at 0.057% U3O8. These resources are not included in the Measured resources presented in the table above.

      Both the ISR and non-ISR resources were determined using the GT contour method and met the following criteria:

      1. 0.02 percent grade cutoff;
      2. Occur within the same mineral horizon (roll front);
      3. Fall within the 0.20 GT contour; and
      4. Extend no farther from the drill hole than the radius of influence specified for each category, i.e., measured, indicated or inferred.

      Technical Report

      The technical report titled “NI 43-101 Technical Report, Resource Estimate, Dewey-Burdock Uranium ISR Project, South Dakota, USA” with an effective date of 12 November 2018 (the “Technical Report”) for Azarga Uranium Corp. has been filed on SEDAR at www.sedar.com and Azarga Uranium’s website www.azargauranium.com.

      The Technical Report was independently prepared by Steve E. Cutler of Roughtstock Mining Services, LLC, a Qualified Person as defined by NI 43-101.

      About Azarga Uranium Corp.

      Azarga Uranium is an integrated uranium exploration and development company that controls ten uranium projects and prospects in the United States of America (“USA”) (South Dakota, Wyoming, Utah and Colorado) and the Kyrgyz Republic, with a primary focus of developing in-situ recovery uranium projects in the USA. 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.

      For more information please visit www.azargauranium.com.

      Follow us on Twitter at @AzargaUranium.

      For further information, please contact:

      Blake Steele, President & CEO
      +1 303 790-7528

      E-mail: info@azargauranium.com

      Disclaimer for Forward-Looking Information

      Certain information and statements in this news release may be considered forward-looking information or forward-looking statements for purposes of applicable securities laws (collectively, “forward-looking statements”), which reflect the expectations of management regarding its disclosure and amendments thereto. Forward-looking statements consist of information or statements that are not purely historical, including any information or statements regarding beliefs, plans, expectations or intentions regarding the future. Such information or statements may include, but are not limited to, statements with respect to Azarga Uranium’s continued efforts to obtain all 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, the larger and more contiguous resource is likely to achieve improved project economics compared to existing preliminary economic assessment and the Company expects to complete an updated preliminary economic assessment in the second quarter of 2019 based on the increased resource estimate. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits Azarga Uranium will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions, which may prove to be incorrect. A number of risks and uncertainties could cause actual results to differ materially from those expressed or implied by the forward-looking statements, including without limitation: the risk that Azarga Uranium does not obtain all major regulatory permit approvals necessary for construction of the Dewey Burdock Project, including the final Class III and Class V UIC permits from the EPA, the risk that the larger and more contiguous resource does not achieve improved project economics compared to existing preliminary economic assessment and the risk that the Company does not complete an updated preliminary economic assessment in the second quarter of 2019 based on the increased resource estimate. These forward-looking statements are made as of the date of this news release and, except as required by applicable securities laws, Azarga Uranium assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements. Additional information about these and other assumptions, risks and uncertainties are set out in the “Risks and Uncertainties” section in the most recent MD&A filed with Canadian security regulators.

      The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release.

      Click here to connect with Azarga Uranium Corp. (TSX:AZZ) for an Investor Presentation.

      Source: www.accesswire.com

      uranium investingazarga uranium corpdewey burdock projecttsx:azzsouth dakotablake steelecolorado
      The Conversation (0)

      Go Deeper

      AI Powered
      Blue Sky Expands the Principal Target at the Corcovo Uranium Project, Argentina

      Blue Sky Expands the Principal Target at the Corcovo Uranium Project, Argentina

      Uranium Outlook

      Uranium Outlook

      Latest News

      Outlook Reports

      Resource
      • Precious Metals
        • Gold
        • Silver
      • Battery Metals
        • Lithium
        • Cobalt
        • Graphite
      • Energy
        • Uranium
        • Oil and Gas
      • Base Metals
        • Copper
        • Nickel
        • Zinc
      • Critical Metals
        • Rare Earths
      • Industrial Metals
      • Agriculture
      Tech
        • Artificial Intelligence
        • Cybersecurity
        • Gaming
        • Cleantech
        • Emerging Tech
      Life Science
        • Biotech
        • Cannabis
        • Psychedelics
        • Pharmaceuticals

      Featured Energy Investing Stocks

      North Shore Uranium

      NSU:CC

      Skyharbour Resources

      SYH:CA

      GTI Energy

      GTR:AU

      xU3O8 (uranium.io)

      Terra Clean Energy

      TCEC:CC

      Stallion Uranium

      STUD:CC
      More featured stocks

      Browse Companies

      Resource
      • Precious Metals
      • Battery Metals
      • Energy
      • Base Metals
      • Critical Metals
      Tech
      Life Science
      MARKETS
      COMMODITIES
      CURRENCIES
      ×