Azarga Uranium increases Measured and Indicated Resources by 128% for Gas Hills Uranium Project
Azarga Uranium Corp. [AZZ-TSX; AZZUF-OTCQB; P8AA-FSE] completed an updated NI 43-101 compliant resource estimate for its Gas Hills Uranium Project in Wyoming following the identification of additional uranium mineralization as previously disclosed by the company.
Measured and Indicated uranium resources increased to 10.77 million pounds U3O8 from 4.73 million pounds U3O8 (128% increase).
Measured and Indicated in-situ recovery (ISR) uranium resources total 7.71 million pounds U3O8 (72% of overall Measured and Indicated Resources) with an average U3O8 grade of 0.101%.
The maiden ISR resource estimate achieves significant grade and scale and supports further advancement of the project
A preliminary economic assessment will be undertaken. There is strong potential for the Gas Hills Project to become a significant satellite deposit to Azarga’s flagship Dewey Burdock Project.
Blake Steele, Azarga Uranium’s president and CEO, stated: “We are extremely pleased with the results of our Gas Hills Project resource update. The scale and confidence of our ISR amenable Gas Hills project resource estimate has established it as a significant deposit in the USA. We have conducted numerous hydrology studies on our Gas Hills Project, and they have all confirmed that the resources located below the water table are ideally suited to ISR mining techniques.”
Steele also noted: “The Gas Hills region is a prolific uranium district with approximately 100 million pounds of past production. Industry leader, Cameco Corp., owns a permitted ISR uranium project within this district. We look forward to completing a preliminary economic assessment for our Gas Hills Project and evaluating its potential as a standalone deposit as well as a significant satellite deposit to the company’s flagship Dewey Burdock Project. Utilization of planned infrastructure at our Dewey Burdock Project also has the potential to considerably reduce the capital cost profile of our Gas Hills Project.”
Azarga Uranium is an integrated uranium exploration and development company that controls 10 uranium projects and prospects in the United States of America (South Dakota, Wyoming, Utah and Colorado), with a primary focus of developing in-situ recovery uranium projects. The Dewey Burdock in-situ recovery uranium project in South Dakota which is the company’s initial development priority, has been issued its nuclear regulatory commission licence and final class III and class V underground injection control permits from the Environmental Protection Agency. The company is completing regulatory permit approvals for construction of the Dewey Burdock Project.