Anglo Asian Mining PLC (AIM:AAZ, OTC:AGXKF) told investors it has mined the first ore from its Gilar underground deposit, part of its Gedabek operation in Azerbaijan.
A total of 1,267 tonnes of ore was mined earlier this month, it said – with an average grade of 0.65% copper and 1.36 grams per tonne of gold.
The ‘best’ grades reached 1.63% copper and 3.27 grams per tonne of gold.
Ore is now being stockpiled awaiting the start of processing.
Anglo Asian expects to ramp up production to 50,000 to 60,000 tonnes of ore in the coming months.
"We are delighted to announce the first ore mined from Gilar, making a key milestone in our development of this exciting underground deposit,” chief executive Reza Vaziri said.
"With over 54,000 tonnes of copper and 255,000 ounces of gold confirmed, Gilar is set to play a crucial role in our strategy to transition to a mid-tier, primarily copper-focused, producer.”