logo-loader
viewAnglo Asian Mining PLC

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

Helicopter
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.

 

Quick facts: Anglo Asian Mining PLC

Price: 144.5 GBX

AIM:AAZ
Market: AIM
Market Cap: £165.3 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Anglo Asian Mining PLC named herein, including the promotion by the Company of Anglo Asian Mining PLC in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Investor Update: Horse Hill well now 'two-thirds of way through sweet spot'

Headlines from the Proactive UK newsroom. Alba Minerals (LON:ALBA) has noted the report by operator UKOG that the Horse Hill-2Z well near Gatwick is now two-thirds of the way through the sweet spot and that sections of possible increased reservoir quality have been encountered.  Anglo...

on 4/11/19

2 min read