Anglo Asian Mining gets extension of exploration license at Ordubad
Anglo Asian Mining plc, the AIM listed gold producer, is pleased to announce that the Government of Azerbaijan has granted the Company a one year extension to continue exploration for precious and base metals on its 462 sq km Ordubad Contract Area. The exploration period relating to the Ordubad Contract Area will now continue until April 2012. Additionally, the Government has accepted the Company's Notice of Discovery in respect to the Gosha Contract Area, submitted in February 2011.
Exploration work at the Gosha Contract Area is continuing to generate positive results. Anglo Asian believes that at least one of the mineralised zones discovered on the licence; Zone 13, has the potential to host a resource that may be amenable to narrow vein, underground mining. Zone 13 is one of at least nine (9) mineralised zones that have been identified on the Gosha Property, which are currently being explored. The Company now has six months to produce a Development and Production programme for Gosha having received notification from the Government of Azerbaijan that the Notice of Discovery for the project has been accepted.
Anglo Asian CEO Reza Vaziri said, "Increasing the Company's total resource through aggressive exploration programmes across our 1,962 sq km gold/copper portfolio remains a key focus for us. We are therefore delighted to have extended our exploration licence at Ordubad and be in a position to develop the target at Gosha with the ultimate aim of building a second mine."