Anglo-Asian Mining: Amount of gold in new field in Azerbaijan has increased

Anglo Asian Mining PLC, the AIM-listed gold, copper, and silver producer focused in Azerbaijan, announced further drill results at the Gilar deposit, Report informs.

These confirm an extension to the mineralization reported by previous drilling with intercepts of up to 68 metres of continuous gold and copper mineralization.

According to information, an ore deposit was discovered at a depth of 68.35 meters in the area at a depth of 320 meters. It contains 2.4 grams of gold, 2.89% copper and 1.58% zinc per ton.

The results are from the extension drilling of six vertical core drill holes at the south-west of the Gilar site. The overall drilling has demarcated six zones of mineralisation referenced in the RNS of 19 December 2022. Two further inclined drill holes in the south-west of Gilar are now complete and subject to verification and analysis.

These results give additional confidence to the decision to start the construction of a tunnel at Gilar for underground access suitable for exploration and production. The new drill results are likely to increase the recently reported preliminary resource estimates.

Stephen Westhead, Vice-President of Anglo Asian, commented: "Gilar continues to deliver exceptionally good grades of gold and copper over significant thicknesses of mineralization. This will clearly increase the mineral resources of the deposit. The discovery of free gold at Gilar will mean adjusting our approach to processing the deposit, with preliminary metallurgical testwork planned to optimize the recovery of metals. The team are very excited to progress this project at pace and begin production."