Azarga Metals Receives Results of Induced Polarization Survey on High-Grade Copper-Rich VMS Marg Project

VANCOUVER, BC / ACCESSWIRE / May 23, 2023 / AZARGA METALS CORP. ("Azarga Metals" or the "Company") (TSX-V:AZR) is pleased to have received the final report on its induced polarization ("IP") survey at its high-grade copper-rich Volcanogenic Massive Sulphide ("VMS") Marg project (the "Marg Project"), located in the Keno Hill Silver District, Yukon Territory. The IP survey commenced in late 2022 (see news release dated November 24, 2022) and covered a significant portion of the known Marg VMS horizon, as well as an area immediately north of strong multi-element soil geochemical anomalies lying along an interpreted fold repetition of the Marg VMS horizon (Figure 1).

"The results of the IP work completed at Marg by Abitibi continues to suggest that significant exploration potential remains on the property," stated Gordon Tainton, President and CEO of Azarga Metals. "We are excited by the initial interpretation of ‘Zone A', which appears to represent a similar type of structure directly north of the historical resource estimate (Figure 2). Importantly, Zone A has never been drill tested. Our methodical, staged exploration approach of validating every parameter both geophysical and geological will allow us to plan our key drill targets as we continue to move the Marg Project forward."

The IP survey was undertaken by Abitibi Geophysics Inc. ("Abitibi"), over, across, and along strike from the Marg deposit, with the goal of assisting to identify drill targets which could extend the known Marg mineralization or discover new zones of interest with similar signatures. The highest priority areas were covered by the IP survey; however, due to winter weather conditions, a minor number of peripheral lines had to be deferred until a later date. The IP survey data was acquired using a "sounding-style" Wenner array to identify resistive and chargeable features. Where chargeable zones with high resistivity coincide, the "Gold Index parameter" amplifies the response. In the IP survey, two such zones, both relatively continuous along strike, were identified, with Zone A lying to the north of Zone B (Figure 3). Zone A is interpreted as the probable "up-dip", near surface mineralized Marg horizon, and Zone B, an apparently sub-parallel horizon, is interpreted as a possible fold repeat of Zone A (and hence of the known Marg horizon), across a tight overturned fold, with both limbs dipping to the south and extending beyond the depth of investigation of the IP survey.