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Anglo Asian Mining Plc
Summary
| Project: | Gedabek | |
|---|---|---|
| Deposit: | Ugur | |
| Location: | Azerbaijan | |
| Commodities: | Gold | |
| Date: | 12/16/2016 | |
| Report Code: | (no Code) | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 16-12-2016: Anglo Asian Mining Plc announces an Exploration/Drilling Update report for its Ugur deposit at the Gedabek project. Drilling results incl. 61.5m @ 3.36g/t Au, 12.13g/t Ag from 3.0m. Anglo Asian Mining plc ("Anglo Asian" or "the Company"), the | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Stephen Westhead (Internal) | |
| ABSTRACT: | Anglo Asian Mining plc ("Anglo Asian" or "the Company"), the AIM listed gold, copper and silver producer focused in Azerbaijan, is pleased to announce an exploration update for its new gold discovery, "Ugur", within its Gedabek licence area in western Azerbaijan ("Gedabek Licence"). Anglo Asian CEO, Reza Vaziri, said "These encouraging results from the newly discovered Ugur deposit enhance our understanding of the deposit and show that the oxide zone extends deeper than initially determined by previous drilling. Ugur is only three kilometres from our processing facilities at our main Gedabek site, highlighting the clear strategic value of developing this deposit. Work will continue to expand the potential resource of this new discovery. I look forward to updating shareholders on our progress as we work towards further enhancing our already profitable operation at Gedabek through the mining of multiple zones of mineralisation." Anglo Asian Group Director of Geology, Stephen Westhead, said "With core drilling results having determined a significant oxide zone containing gold, it is planned to continue core drilling on a grid in the central area to allow for three-dimensional modelling for resource and reserve estimation of this exciting prospect. In conjunction with this, we will also drill the flanks of the area targeted by surface alteration mapping to expand the gold potential. We look forward to continuing to evaluate this deposit with a view to adding gold reserves in advance of mining as we aim to enhance our entire production profile for the Gedabek Licence." | |
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