Anglo Asian Mining (AIM: AAZ)
The AIM listed gold, copper and silver producer focused in Azerbaijan, announced further positive drill results at the Gilar deposit.
These confirm an extension to the mineralisation reported by previous drilling with intercepts of up to 68 metres of continuous gold and copper mineralisation.
|Anglo Asian Mining||AIM: AAZ|
|Stage||Production, Exploration, development|
|Metals||Gold, copper, silver|
|Market cap||£129 m @ 113p|
24 January 2023
Anglo Asian Mining PLC
Gilar drill results extend mineralisation
Anglo Asian Mining PLC (“Anglo Asian” or the “Company”), the AIM listed gold, copper and silver producer focused in Azerbaijan, is pleased to announce further drill results at the Gilar deposit. These confirm an extension to the mineralisation reported by previous drilling with intercepts of up to 68 metres of continuous gold and copper mineralisation:
Borehole 22GLDD127: 68.35m @ 2.40g/t gold, 2.89% copper and 1.58% zinc from 320.00m, including:
· 55.4m @ 2.7g/t Au, 3.5% Cu and 1.4% zinc at 1.5g/t gold cut-off from 331.00m, including at a 2.0 g/t Au cut-off
o 33.3m @ 3.0g/t Au, 5.4% Cu and 2.0% zinc from 333.00m
o 14.4m @ 2.8 g/t Au, 0.4% Cu and 0.2% zinc from 372.00m
The results are from the extension drilling of six vertical core drill holes at the south-west of the Gilar site. The overall drilling has demarcated six zones of mineralisation referenced in the RNS of 19 December 2022. Recent drilling has extended and confirmed the deeper zone of continuous mineralisation hosting significant gold, copper and zinc with intercept thickness of over 65 metres. One drill hole (22GLDD122 – figure 2 below) in the centre of Gilar also intersected significant mineralisation. Two further inclined drill holes in the south-west of Gilar are now complete and subject to verification and analysis.
These results give additional confidence to the decision to start the construction of a tunnel at Gilar for underground access suitable for exploration and production.
The new drill results are likely to increase the recently reported preliminary resource estimates.
Stephen Westhead, Vice-President of Anglo Asian, commented:
“Gilar continues to deliver exceptionally good grades of gold and copper over significant thicknesses of mineralisation.
“This will clearly increase the mineral resources of the deposit. The discovery of free gold at Gilar will mean adjusting our approach to processing the deposit, with preliminary metallurgical testwork planned to optimise the recovery of metals.
“The team are very excited to progress this project at pace and begin production.”
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