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Anglo Asian Mining announces H2 2018 summary results

Mining News - Published on Thu, 02 May 2019

Image Source: Littlegate Publishing
Anglo Asian Mining plc, the AIM listed gold, copper and silver producer focused in Azerbaijan, announced a summary of the results from its successful helicopter-borne geophysics survey carried out in H2 2018 at its Gedabek Contract Area. A summary report of the geophysical survey methods and results can be found at http://www.rns-pdf.londonstockexchange.com/rns/3253X_1-2019-4-28.pdf and on its website www.angloasianmining.com/operations. A separate report has also been released today giving details of the results of other geological exploration at the Gedabek and Gosha contract areas in 2018.

Highlights

· The helicopter-borne electromagnetic and aeromagnetic survey, a first for the Company and Azerbaijan, was completed over Gedabek and extended areas in H2 2018

· Multiple, highly promising and prospective, mineral targets were identified:

o 25 targets favourable for epithermal and porphyry mineralisation
o 6 magnetic targets consistent with porphyry systems

· Selection of the most promising targets and planning for their detailed investigation is now underway

· The survey utilised the Z-Axis Tipper Electromagnetic system ("ZTEM") and a high sensitivity magnetometer - especially suitable for porphyry copper-gold and epithermal copper-gold-silver exploration

· A total of 3,385 linear kilometres of geophysical data were acquired over the survey area

Mr Stephen Westhead, Anglo Asian Director of Geology & Mining, commented, "The survey was a great success and the very encouraging three-dimensional results provided a significant number of potential copper and gold bearing targets. In total, it has identified 25 epithermal and six porphyry precious and base metal targets. We are now busy on the next stage of the work which is ranking the geophysical signatures by integrating the geophysics results with Company geological data to prioritise the exploration targets. Based on this work, the Company will follow-up with ground-based exploration techniques including drilling, on the most promising targets.”

Mr Westhead said that "It is an exciting stage in the Company's strategic development as we advance our exploration programme to fully realise the further potential across all our three contract areas. This survey is an integral part of that exploration programme and the excellent results represents good progress made towards our identified objectives and the further significant growth potential exploration can provide for the Company."

Source :

Posted By : Rabi Wangkhem on Thu, 02 May 2019
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