HIGHLIGHTS:
- Base PEA Case proposes average annual production of 11.7ktpa copper and 2.9Mozpa silver in concentrates over a 14-year mine life
- 4-years open-pit mining at 2.75Mtpa followed by 10-years underground mining at 2.0Mtpa
- Use of SART processing in early years to process oxide material, followed by conventional sulphide flotation
- At Consensus prices (US$3.86/lb copper and US$25/oz silver), post-tax net present value (“NPV”) of US$205.5M and internal rate of return (“IRR”) of 26.7%
- May 21, 2021, Spot Prices (US$4.54/lb copper and US$28/oz), post-tax NPV of US$380.4M and IRR of 44.4%
- Post-tax NPVs of the updated PEA are 39-158% higher than the previous PEA prepared on Unkur in 2018 – Substantial improvements include: lower pre-production capital expenditure; higher average annual throughput; and a 75% longer mine life
- The PEA 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)
- Positive PEA result based on updated 2021 Inferred Mineral Resource of 51.1Mt at 0.59% copper and 40g/t silver
Azarga Metals Corp. (“Azarga Metals” or the “Company”) (TSXV:AZR) announces the positive findings of 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
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