BAKU, Azerbaijan, March 31. Anglo Asian Mining PLC [Public Limited Company], the AIM (Alternative Investment Market) listed gold, copper, and silver producer confirmed the potential for production of over 300,000 tons of copper at Azerbaijan's Garadagh deposit, located north of the Gedabek and Kharkhar contract areas, the company’s press service told Trend.
According to the company, the forecast was made based on geological data received from AzerGold CJSC.
"This initial assessment by the company has not been prepared according to the JORC [Joint Ore Reserves Committee] Standard. The company intends to prepare a mineral resource estimate using the JORC procedures on completion of the evaluation program, targeting mid-2024 for the preparation of the mineral resource estimate according to the JORC code," said the statement.
Moreover, Anglo Asian Mining noted the potential of production from 20,000 to 25,000 tons of copper per year in the Garadagh deposit.
The Garadagh contract area was transferred to Anglo Asian Mining in July 2022. It has an area of 344 square kilometers. The first mineral resource estimate of the Garadagh deposit was produced during January 1992. It contained over 318,000 tons of copper (under the Soviet standard of resource classification).
Anglo Asian Mining plans to put into operation Garadagh, Kharkhar, and Damirli fields. The company has already commenced the exploration of the Vezhnali gold deposit in the liberated Zangilan district.
Anglo Asian mainly exports gold bars produced in Azerbaijan to Switzerland. Meanwhile, copper is exported to Georgia, Uzbekistan, and Türkiye.
The Joint Ore Reserves Committee (JORC) is one of the 13 members of the Committee for Mineral Reserves International Reporting Standards (CRIRSCO), as well as a partner of the International Council on Mining and Metals. The JORC Code, like other international reporting codes, is designed to ensure that public reports intended to inform investors and their consultants are transparent and reliable, contain all relevant information and are compiled by competent persons.