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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.

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"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.


Quick facts: Anglo Asian Mining PLC

Price: 144.5 GBX

Market: AIM
Market Cap: £165.3 m

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