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Azarga Metals CEO Gordon Tainton talks about Azarga Metals’ (TSXV:AZR) positive findings of an updated preliminary economic assessment 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.
“We have a four year open pit mining opportunity at 2.75 million tonnes per annum followed by 10 years of underground mining that 2 million tonnes per annum,” said Tainton.
The Base PEA Case proposes average annual production of 11.7ktpa copper and 2.9Mozpa silver in concentrates over 14 year mine life. It is also considered an alternative Open-Pit Only Case to mine and process the oxide material only for 4 years with post-tax NPV of US$95.1M and IRR of 46.3% (at Consensus Prices) and NPV of US$162.2 million and IRR of 70.1% (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 kilometres 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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