Anglo Asian Mining (AIM: AAZ)
The AIM listed gold, copper and silver producer focused in Azerbaijan, provided an update on its development of new mines and associated geological progress.
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Anglo Asian Mining Gedabek mine, Azerbaijan.
Anglo Asian Mining plc – Development of Future Mines & Geological Exploration Progressing at Pace
Anglo Asian Mining PLC (AIM: AAZ) (“Anglo Asian” or the “Company”), the AIM listed gold, copper and silver producer focused in Azerbaijan, is pleased to provide an update on its development of new mines and associated geological progress.
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Anglo Asian Vice-President, Stephen Westhead commented:
“The development of new mines and exploration has been progressing well at a number of sites. These new mines are planned to provide future sustainable gold and copper production until the major ramp up of copper production at Garadagh.
At Zafar, drilling and geotechnical assessment is now complete for the portal area and ramp layout to access the orebody. Metallurgical testwork on the Zafar ores is also well advanced. Mine design is nearing completion.
Drilling at the Gilar deposit has identified three main zones of copper mineralisation. Independent geological modelling of these zones and mineral resource estimation is planned for Q4 2022. Given the depth of drilling (approximately 450 metres), a plan for underground access suitable for both exploration and production has been developed. A large-scale ground-based magnetic and induced polarisation (IP) geophysics programme is underway over the deposit area to test for extensions of the open mineralisation.
The Vejnaly project is progressing at pace with the mining and geology teams evaluating the deposit from underground. Initial channel sampling has yielded significant grades of gold in the walls of the tunnels and stopes.
The data for XarXar and Garadagh have been received from Azergold, following the acquisition of these new contract areas. Data validation in relation to both deposits is ongoing. I look forward to reporting on these new contract areas later in the year.
All these deposits provide future resources to extend mid-term production. Garadagh hosting a Soviet classified resource of over 300,000 tonnes of in-situ copper provides the longer-term major copper potential. Additionally, a significant pipeline of exploration targets contribute to the Company’s outstanding project portfolio.”
Highlights
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Zafar – mine design well advanced and geotechnical assessment underway |
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Site of mine portal determined, situated close to existing processing facilities |
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13 geotechnical diamond drill holes for a total length of 1,664 metres completed over the planned ramp, providing information for tunnelling, which is scheduled to commence in December 2022 |
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Mining fleet identified and vendor financing under negotiation |
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Mining method provisionally determined as sub-level caving
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Gilar – underground exploration to commence |
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Thirty surface diamond drill holes for a total of 9,581.3 metres have been completed over the Gilar district during YTD 2022 |
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Analysis of samples is being fast-tracked through the AIMC laboratory with results expected shortly |
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Surface magnetic, induced polarisation (IP) geophysics is underway and additional drilling will be conducted in Q4 2022 |
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Mineralisation modelling for a maiden Mineral Resource Estimate is well advanced and expected to be published by end Q4 2022 |
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The development of an exploration tunnel to access the mineralisation, which can also be used for production, is planned to commence in November 2022
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Vejnaly – excellent gold and copper grades returned |
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Geological exploration well underway with small-scale mining commencing in Q4 2022 |
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Underground vein sampling collected 230 samples with a total length of 117 metres, including six channel samples with assays ranging from 51 to 104 g/t of gold |
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New gold mineralisation zone discovered in the north-west of the mine area |
All these deposits provide future resources to extend mid-term production. Additionally, a significant pipeline of exploration targets contribute to the Company’s valuable project portfolio.
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To read the full news release, please click HERE
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