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Anglo Asian Mining wants to expediate remaining field work

The aim of the fieldwork is to tee up resource drilling programmes later this year

Anglo Asian Mining PLC - Anglo Asian Mining wants to expediate remaining field work

Anglo Asian Mining PLC (LON:AAZ) director Stephen Westhead has told investors that the company is looking forward to expediting work in the second half of the year, to deliver further positive progress in Azerbaijan.

The metals explorer, in a statement, updated on its ongoing work programmes which are active in three contract areas.

“Exploration of the near-surface gold targets at Gedabek are taking priority to rapidly develop mineral resources and advance mineral deposits towards production. Both Avshancli and Gilar will be explored by ground-based induced polarisation and magnetic geophysics in the second half of the year,” said Westhead, the group's director of geology & mining.

“Deeper drilling at Ugur and Zafer have yielded significant copper intersections and zones of extensive sulphide mineralisation, which provide for a secondary layer of future resource development.

The Gosha drill results demonstrated the presence of mineralisation adjacent to the current Gosha mine with significant gold grades, which potentially allows for the expansion of this mining operation in the future.

"Ordubad exploration was hampered by COVID-19 travel restrictions and only trench work was carried out during the first half of the year on the recently discovered gold vein systems,” he added.

Westhead noted that geological modelling and mineral targeting work is on-going, to test for the presence of mineralising systems associated with strong alteration zones and lithocaps.

The aim is to prioritise locations for resource drilling which is slated for the planned in the second half of the year, he added.

Quick facts: Anglo Asian Mining PLC

Price: 123.5 GBX

Market: AIM
Market Cap: £141.27 m

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Anglo Asian Mining present at the Proactive One2One Virtual Forum

Anglo Asian Mining's CFO Bill Morgan and Stephen Westhead, Director of Geology & Mining, present at the Proactive One2One Virtual Forum. Anglo Asian Mining PLC is quoted on AIM (ticker – AAZ) and has a portfolio of gold, copper and silver production and exploration assets in Azerbaijan....

on 2/10/20

2 min read