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Anglo Asian Mining announces increase in resources at gold mine in Azerbaijan

Business Materials 9 June 2014 22:34 (UTC +04:00)

Baku, Azerbaijan, June 9

By Emin Aliyev - Trend:

Anglo Asian Mining, the gold producer in Azerbaijan, announced a 29 percent increase in its gold resource at the Gedabek gold/copper/silver mine in Azerbaijan to 61,795,775 tonnes at 0.730 g/t of gold for 1,449,537 oz in the measured and indicated categories.

The company said this latest resource update is primarily due to new drilling results at Gedabek and a new discovery known as Gadir immediately north of the Gedabek mine.

A continued exploration may result in the discovery of additional resources in 2014, according to a message posted on the company's website.

The company also said that an additional 700,000 tonnes of six grams per tonne measured and indicated resources have been recently found at the Gadir.

Gedabek gold/copper/silver mine is the largest one developed by the Anglo Asian Mining. Gold and silver were first mined on it in May 2009, and the copper concentrate production started in 2010.

The gold produced at the mines is sent for treatment in Switzerland. The ingots are brought to Azerbaijan and stored on the government's account.

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