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Major Resource Increase for ISR Uranium Project

Interest is growing in the uranium sector as increasing numbers of market analysts and research companies are calling for the next bull market for the uranium mining industry. Doug Casey and Rick Rule are two high-profile figures who recently added their names to this list.

For this reason, many investors will be interested in the new, robust resource estimate announced by Azarga Uranium Corp. (TSX: AZZ, OTCQB: AZZUF, Forum) on November 14, 2018. Measured ISR resources have increased from 4.12 million pounds to 13.78 million pounds U3O8 (234% increase). Measured & Indicated ISR resources have increased from 8.58 million pounds to 16.94 million pounds (a 97% increase).

Stockhouse mining investors are already familiar with this Company. Azarga was originally introduced to the Stockhouse Community in a full-length feature article from March 3, 2017. That article alerted investors to the strong economics for AZZ’s flagship Dewey Burdock Uranium Project, located in South Dakota.

The Company has continued its aggressive growth strategy since that time and now boasts a number of strengths that will attract experienced mining investors:

  • Sector leading combination of grade and scale at Dewey Burdock among US ISR peers
  • 57% post-tax IRR (2015 PEA) for Dewey Burdock
  • Low cap-ex and low op-ex
  • Permitting for Dewey Burdock nearing very end of process
  • Two other advanced-stage U.S. uranium project (Gas Hills, Centennial)
  • Because of the strong economics associated with ISR uranium mining, these mines now account for 50% of global uranium production, despite generally being much lower in grade than conventional uranium mines. Put another way, some of the world’s highest grade hard-rock uranium mines have been mothballed while ISR projects (like Dewey Burdock) continue to move forward.

Now Azarga has dramatically improved the uranium resource for its flagship Project. The overall Measured & Indicated ISR resource has nearly doubled while the confidence of this resource has also improved. The new resource estimate includes an additional Inferred ISR resource of 818,000 pounds as well as roughly 1 million pounds of non-ISR uranium (situated above the water line).

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DOW 23586.30 0.03%
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Resource Commodities

Name Last Change
Gold 1249.10 0.28%
Silver 14.63 0.14%
Copper 2.75 0.010
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Natural Gas 3.53 8.48%
Uranium 28.63 0.35%
Zinc 1.17 0.00%


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