Proactive Investors - Run By Investors For Investors

Anglo Asian identifies identifies numerous signs of gold and copper from airborne survey at Gedabek

The is aim to identify potential new standalone mines, similar to the Ugur
Survey is being carried out by helicopter

Anglo Asian Mining PLC (LON:AAZ) has identified ‘multiple additional gold and copper occurrences’ from an airborne survey over the 300sq km licence area of the Gedabek mine in Azerbaijan.

Stephen Westhead, Group Director of Geology and Mining said: "Preliminary results from the area surveyed to date show both magnetic and electromagnetic anomalies relating to geological entities at depth.

READ: Anglo Asian declares maiden dividend which could “nearly double next year” says broker

"These will be the focus of future ground-based follow-up work with the aim to identify potential new standalone mines, similar to the Ugur mine, which was brought into production within 12 months of first discovery," said Westhead. 

It is the first helicopter-borne mining survey to be carried out in Azerbaijan, said Anglo Asian with the country’s Ministry of Emergencies providing helicopter services for Geotech, which is conducting the survey.

Now 77% complete, the miner expects to analyse data from the survey and identify targets in the first quarter of next year.


View full AAZ profile View Profile

Anglo Asian Mining PLC Timeline

Related Articles

Miners and infrastucture
April 17 2019
Mandalay Resources is a metals miner with producing assets in Sweden (Björkdal) and Australia (Costerfield)
The company is currently exploring and developing one million ounce Salinbas Gold Project in north-eastern Turkey
May 31 2019
Interim chief executive Werner Klingenberg said management’s continued priority will be to “maintain the established momentum of the recovery operation and improve the reliability of sourcing material”.

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use