Uranium Miner Reports 234% Increase in Resource Estimate

January 2, 2019

The Energy Report

Source: Streetwise Reports   12/27/2018

This company, with an ISR project located in South Dakota, has filed a technical report to support the revised estimate.

In a Dec. 21 news release, Azarga Uranium Corp. (AZZ:TSX; AZZUF:OTCQB) announced it has filed a technical report to support an NI-43-101-compliant resource estimate increase at its Dewey Burdock in-situ recovery (ISR) uranium project.

The technical report for the increase highlighted the following:

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  • The Measured ISR resource increased 234%, to 13.78 million pounds U3O8 (13.78 Mlb) from 4.12 Mlb U3O8
  • Measured and Indicated ISR resources increased 97% to 16.94 Mlb U3O8 from 8.58 Mlb U3O8

Azarga also reported that the updated estimate reflects a “larger and more contiguous resource likely to achieve improved project economics compared to existing preliminary economic assessment.”

In addition, the company noted that “several miles of lightly explored, mineralized trends remain to be further delineated” at the South Dakota-based project.

The company’s preliminary economic assessment will be revised as well, with release expected in Q2/19, according to the announcement.

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( Companies Mentioned: AZZ:TSX; AZZUF:OTCQB,