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Azarga Metals Signs Definitive Agreement to Acquire Marg Copper-Rich VMS Project in Yukon
VANCOUVER, BC / ACCESSWIRE / November 9, 2021 / AZARGA METALS CORP. (" Azarga Metals " or th...
About this update from Azarga Metals Corp.
[{"type":"text","content":"Azarga Metals Signs Definitive Agreement to Acquire Marg Copper-Rich VMS Project in YukonVANCOUVER, BC / ACCESSWIRE / November 9, 2021 / AZARGA METALS CORP. (\"Azarga Metals\" or the \"Company\") (TSXV:AZR) is pleased to announce that it has signed a binding agreement (the \"Agreement\") with Golden Predator Mining Corp. (\"Golden Predator\") to acquire the Marg copper-rich VMS project (the \"Marg Project\"), located in Central Yukon. The Agreement supersedes the non-binding term sheet announced on 14 July 2021.President, CEO and Director, Gordon Tainton, said: \"We're very excited about the Marg Project. Azarga Metal's technical due diligence has indicated that Marg is a high-grade copper-rich VMS project with significant gold and silver credits. The project has a NI 43-101 resource and a PEA report that was completed in 2016. The positive outlook for base metals and the exploration upside associated with the Project make it a compelling value creating opportunity for Azarga Metals.\"The Company plans to conduct an equity financing to fund an aggressive drill program on the Marg project and announcements will follow in due course regarding the financing arrangements.ABOUT THE MARG PROJECTThe Marg Project is an undeveloped volcanogenic massive sulphide (\"VMS\") deposit located in the Mayo Mining District in Central Yukon, approximately 40 kilometres east of Keno City (which itself is approximately 465 kilometres by road north of Whitehorse). The Marg Project claims are located within the First Nation of the Nacho Nyak Dun (\"FNNND\") traditional territory.Due diligence conducted by Azarga Metals highlights potential areas the Company will focus on initially to enhance the value of the Marg Project, including:Advancing metallurgical and mineralogical work - The Company believes that more appropriate and extensive metallurgical and mineralogical test work could deliver improved economic outcomes. The issue of lack of relevant metallurgical and mineralogical test work presented itself in the PEA with lower than typical recoveries assumed for similar mineralization styles (including very low assumed recoveries into concentrate for gold or silver).Analysis and interpretation of 2006 VTEM data (and surface geochemistry) - The Company's analysis and interpretation of the VTEM Airborne ElectroMagnetic (\"AEM\") surveys completed in 200...