Anglo Asian makes good progress with airborne survey at Gedabek

Azerbaijan-focussed gold, copper and silver producer Anglo Asian Mining updated the market on the airborne geophysical survey underway at its 300 square kilometre Gedabek contract area on Wednesday.

The AIM-traded firm said the goal of the survey was to define new drill targets, and identify new mineable deposits which could provide additional producing mines at Gedabek.

It said the survey, which was now about 77% complete, was being conducted by Geotech.

“Whilst production has increased steadily from our established producing assets at Gedabek, it is important that we continue to extend our exploration to unlock the significant potential of the entire Gebabek area,” said Anglo Asian’s group director of geology and mining, Stephen Westhead.

“The survey is intended to identify new drill targets to add additional resources and reserves to the current mine schedule and to identify potential new standalone mines, similar to our Ugur mine, which we brought into production within 12 months of first discovery.”

Westhead said the company was aware of multiple additional gold and copper mineral occurrences at Gedabek, with preliminary results from the area surveyed to date showing both magnetic and electromagnetic anomalies relating to geological entities at depth.

Those would be the focus of future ground-based follow-up work.

“The Ministry of Emergencies of the Republic of Azerbaijan are providing helicopter services and are working very well together with Geotech.

“This comprehensive survey of the entire Gedabek area is the first of its type to be carried out in Azerbaijan.

“It is a significant milestone in developing Gedabek's potential and I look forward to reporting the findings of the survey in the first quarter of 2019.”