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Anglo Asian Mining PLC

Exploration continues apace at Anglo Asian Mining

Anglo Asian is slated to produce more than 80,000 gold equivalent ounces this year

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Anglo Asian's ground has significant gold potential

Asian Mining PLC (LON:AAZ) has revealed the results of a helicopter-borne electromagnetic and aeromagnetic survey, completed over the Gedabek project in Azerbaijan in the second half of 2018.

The survey identified 25 targets favourable for epithermal and porphyry mineralisation and six magnetic targets consistent with porphyry systems.

WATCH: Anglo Asian Mining reports strong first quarter with 11% production increase

The selection of the most promising targets and planning for their detailed investigation is now underway.

Meanwhile further mineable copper and gold extensions have been identified through drilling at the northern and southern margins of the current Gedabek open pit.

This increased ore footprint will be included in the 2019 Gedabek reserves and resources update. The company has also identified additional mineable mineralisation beneath the Gedabek open pit.

Drilling has also boosted confidence increased in the production profile at Gadir after it showed a continuation of the orebody down-dip and potentially along strike

And at Gosha drilling at the Asrikchav target has resulted in the discovery of polymetallic mineralisation, with highlights including 4.3 metres grading 4.11 grammes per tonne of gold, 112.23 grammes per tonnes of silver, 3.07% copper and 3.02% zinc.

Quick facts: Anglo Asian Mining PLC

Price: £1.38

Market: AIM
Market Cap: £157.29 m
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