Anglo Asian Mining PLC (LON:AAZ) provided an operational update on exploration activities in the second half of calendar 2020.
The exploration programme resulted in a new discovery at Zafer, announced in January 2021. Zafer is a copper-gold mineral occurrence approximately 1.5 kilometres from the company's processing facilities at Gedabek.
The comprehensive exploration programme already underway at Gedabek continued in the second half of 2020 and substantial drilling was carried out at several priority mineral deposit targets.
A considerable amount of exploration was also carried out at its Gosha contract area. However, COVID-19 travel restrictions continue to impede the geological work that could be undertaken at Ordubad.
"Our comprehensive geological programme continues to yield excellent results,” said Stephen Westhead, Director of Geology & Mining.
“We were very pleased to report in January the discovery of Zafer in the second half of last year. Zafer is considered a very significant discovery and a preliminary estimate of the deposit size is about six million tonnes of mineralised rock. It is also very close to our processing facilities and very little additional infrastructure will be required to bring it into production. We envisage production will be by underground mining.
He also commented on the company’s other exploration work.
"Substantial further exploration work was also carried at Gedabek, in particular at Avshancli and Gilar,” he said.
“An initial model of Avshancli shows gold and copper mineralisation in a 200 to 300 metre central zone surrounded by satellite zones. The central zone is free digging, and we are considering the possibility of mining this area in the near future by open pit. A core drilling programme commenced at Gilar and a surface Induction Polarisation survey was also carried out. Work continued at Gosha and good drill results were obtained from holes around the existing narrow vein mine.”