BAKU, Azerbaijan, October 23. The Gilar mine is expected to commence production in the first half of 2024, Trend reports.
The data from Anglo Asian Mining PLC (AAM) shows that the company is also preparing a Joint Ore Reserves Committee (JORC) Mineral Resource Estimate (MRE) for the Gilar deposit.
“A site visit by the company's independent geological consultants, Mining Plus UK, was completed in September as part of the required due diligence process. The maiden JORC MRE for the Gilar deposit is planned to be released in November,” said the company.
Vice President of Anglo-Asian Stephen Westhead said that the JORC report will prove once again the significance of the Gilar deposit.
"The drilling results have further confirmed the extension potential of the deeper mineralization, which will form an important component of the upcoming JORC report. We look forward to continuing to develop the Gilar deposit, culminating in the first production in the first half of 2024. The Gilar mine will be an important contributor to the future production of the company given the high grades of both gold and copper,” he said.
AAM published a report on the results of drilling at the Gilar deposit on October 23, 2023. The report notes that new drilling results at the Gilar deposit confirm the expansion of mineralization.
The drilling has extended the Gilar deeper zone of continuous mineralization, hosting significant gold, copper, and zinc with an intercept thickness of over 20 meters. Two step-out drill holes also confirm the potential of the extension of the mineralization. Given the depth of the mineralization, the company will continue further drilling underground.
The data from the AAM shows that the mineral resources of the Gilar deposit (not according to the JORC classification) amount to more than 249,000 ounces of gold, 46,000 tons of copper, and 48,000 tons of zinc.
The main activity of Anglo-Asian Mining in Azerbaijan is concentrated in Gadabay, and this year the Zafar deposit is planned to be commissioned in the Gadabay district. In addition, in the coming years, Anglo-Asian Mining in Azerbaijan plans to put into operation such contract zones as Garadag, Kharkhar, and Demirli. In the territories liberated from occupation, the company has already started exploration of the Vejnaly gold deposit in the Zangilan district.
Anglo-Asian Mining mainly exports gold bars produced in Azerbaijan to Switzerland and copper to Georgia, Uzbekistan, and Türkiye.