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TICKERS: AZZ; AZZUF

Uranium Resource at Flagship South Dakota Project Increases 234%
News Update

Source:

This company's new resource estimate is "larger and more contiguous" than earlier estimates.

Dewey Burdock

Azarga Uranium Corp. (AZZ:TSX; AZZUF:OTCQB) updated its NI 43-101 compliant resource estimate on its Dewey Burdock uranium project in South Dakota, the company announced in a news release. Of its assets, the company is developing Dewey Burdock, an in situ recovery (ISR) project, first.

The updated resource estimate, prepared by Roughstock Mining Services, shows an increase in resources from the previous estimate. The Measured ISR resource now is 13.78 million pounds (13.78 Mlb) U3O8, which is 234% more than the previous resource of 4.12 Mlb U3O8. Measured and Indicated ISR resources increased 97% to 16.94 Mlb U3O8 from 8.58 Mlb U3O8. The revised resource also includes 1,060,000 more non-ISR Measured pounds at 0.057% U3O8. All resources were determined using a 0.02% grade cutoff.

"We are extremely pleased with the exceptional results of this resource update," which meets the Nuclear Regulatory Commission requirements for licensing, President and CEO Blake Steele said in the release. "Both the scale and the confidence of the Dewey Burdock resource estimate have improved substantially."

The next step for Azarga and this project is to update the preliminary economic assessment, encompassing the added resources, which "will likely improve the Dewey Burdock project economics," Steele added. Also, exploration upside at Dewey Burdock remains with the several miles of mineralized trend that need further delineation.

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Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
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5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Azarga Uranium, a company mentioned in this article.




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