Anglo Asian Mining PLC talks about projects on existing fields
BAKU, Azerbaijan, May 24
By Eldar Janashvili – Trend:
Anglo Asian Mining PLC, the gold, copper and silver producer in Azerbaijan, has updated its ongoing growth and exploration strategy, Trend reports referring to the company.
The company's strategy is focused on three key objectives: prioritising discoveries identified by current exploration to increase production and mine life; long term upside potential of existing concessions, evaluating other opportunities, both within and outside Azerbaijan.
Significant work has already been carried out on each of these objectives.
Gedabek field is highly prospective with the potential to host a large porphyry system.
Porphyry evaluation is planned for three years from 2021 to identify a mineral deposit suitable for mine development by 2024.
A porphyry ore body could potentially provide sufficient ore to extend production into at least the mid-2030s.
"Gedabek also has exceptional potential to host a porphyry system which, if proven, could provide tens of millions of tons of ore and increase mine life through to the mid 2030s and beyond. This is something we intend to focus on from 2021 onwards,” Reza Vaziri, CEO of the company, said.
Several regional exploration targets have been identified at Gosha field. One of these, Asrikchay, which has provided high-grade polymetallic mineralisation in a drilled intersection, continues to be assessed. A new geological map of the Gosha contract area has been compiled to better target future work.
The Ordubad contract area is considered very prospective, hosting a large number of gold and copper mineral deposits.
A targeted programme to evaluate the highest priority assets to commence production in Ordubad will be the next stage of development.
There is also the expectation of extending the life of existing mines at both Gedabek and Gosha by near-mine exploration.
Anglo Asian Mining is assessing opportunities to further expand in both Azerbaijan and other countries. These projects are assessed together with the production capacity of the company's existing mines and development options.
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