Anglo Asian Mining to carry out airborne survey over Gedabek

Azerbaijan-focussed gold, copper and silver producer Anglo Asian Mining announced plans to carry out an airborne geophysical survey over the entire Gedabek contract area on Thursday, to identify additional gold and copper mineralised occurrences and generate future drill targets.

The AIM-traded company said Geotech Limited - a Canadian airborne geophysical outfit - had been contracted to conduct the survey.

It said the first airborne geophysical survey would be launched over the entire 300 square kilometre Gedabek contract area in Azerbaijan in “the coming weeks”.

The survey would be intended to identify additional gold and copper mineralised structures, to provide a pipeline of new targets to enhance Anglo Asian's long-term production profile.

Its 2018 production forecast was for between 78,000 and 84,000 gold equivalent ounces.

Anglo Asian said it had “demonstrable ability” to rapidly move from first discovery to production, pointing to the Ugur open pit mine and its 11-month lead time from discovery to gold pour as evidence.

“This is the first comprehensive survey not only of the entire Gedabek site but is the first of its type to be carried out in Azerbaijan,” said Anglo Asian’s group director of geology and mining Stephen Westhead.

“It is an important milestone in realising Gedabek's significant mineralisation potential.”

Westhead said the company was already aware of “many” gold and copper mineral occurrences at Gedabek, with the survey set to provide information on mineralisation trends at depth, allowing for focussed future ground-based follow-up work.

“I am delighted that Geotech will carry out this airborne geophysical survey and I am also very pleased that the Ministry of Emergencies of the Republic of Azerbaijan has agreed to assist us by providing helicopter services.”