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Anglo Asian Mining Plc
Summary
| Project: | Gedabek | |
|---|---|---|
| Deposit: | Ugur | |
| Location: | Azerbaijan | |
| Commodities: | Gold-Silver | |
| Date: | 5/8/2017 | |
| Report Code: | (no Code) | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 8-5-2017: Anglo Asian Mining Plc announces an Exploration/Drilling Update report for its Ugur deposit at the Gedabek project. Drilling results incl. 77.0m @ 2.36g/t Au, 24.19g/t Ag from 0m. Anglo Asian Mining plc ("Anglo Asian" or "the Company"), the AIM | |
| 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, is pleased to announce the completion of Phase II core drilling and additional development progress at its "Ugur" gold deposit, located on the Company's Gedabek licence area ("Gedabek Licence") in Western Azerbaijan, ahead of targeted first mining in Q4 2017. Anglo Asian CEO, Reza Vaziri, said "As a result of the accelerated work programme conducted at Ugur over recent months, we are on track to deliver a JORC reserve and ore extraction plan in Q3 2017 - less than a year after the deposit's initial discovery. As a production company with multiple mines, both open pit and underground, the Ugur deposit will be an important new component of our evolving production portfolio. During the remainder of 2017, when production from stockpiles will play an important role in contributing to our total gold equivalent target of 64,000 to 72,000 ounces, bringing Ugur into production will be a welcome new development. It demonstrates the value we are creating due to our increased emphasis on exploration to create future flexibility and growth at our Gedabek Licence. We look forward to seeing the results of our optimisation efforts in 2018 when full production recommences at Gedabek." Anglo Asian is undertaking extensive exploration and production optimisation during 2017 with the aim of creating future flexibility and growth at its Gedabek Licence. | |
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