“The opportunity to build and operate a mine is there for us. Unkur is ideally located to bring copper and precious metals such as silver to the Far East, China and other end-user markets, ”said Gordon Tainton, CEO of Azarga Metals.
Azarga Metals CEO Gordon Tainton spoke about Azarga Metals’ (TSXV: AZR) positive results in an updated preliminary economic assessment (PEA) for the development of its total ownership of copper Unkursilver project in the Zabaikalsky administrative region of eastern Russia.
the Unkur copper and silver project It is strategically located near one of Russia’s Trans-Siberian Railways. The area is also home to the third largest known copper in the world. resource, the world’s largest and largest titanium deposit on record vanadium to deposit.
“The key results propose an average annual production of 11,700 tons per year of copper and 2.9 million ounces per year of silver, both in concentrate with a useful life of more than 14 years. We also have a four-year open pit mining opportunity at 2.75 million tons per year, followed by 10 years of underground mining that is 2 million tons per year, ”Tainton said.
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the PEA base case an alternative open-pit-only case is considered to extract and process the oxide material only for four years with an after-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 spot prices of May 2021).
“The opportunity to build and operate a mine is there for us. We have a large, fairly unexplored license that has very good mineralization. We are literally 30 kilometers from the third largest known copper deposit in the world. Unkur is ideally placed to source such copper products and precious metals like silver to the Far East, China and other end-user markets, ”Tainton added.
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