TIDMAAZ
RNS Number : 5827C
Anglo Asian Mining PLC
18 June 2019
Anglo Asian Mining plc / Ticker: AAZ / Index: AIM / Sector:
Mining
18 June 2019
Anglo Asian Mining plc ("Anglo Asian" or the "Company")
Updated Exploration Report for Q1 2019 and FY 2018 and Detailed
JORC (2012) reports
Anglo Asian Mining plc, the AIM-listed gold, copper and silver
producer focused in Azerbaijan, is pleased to provide a geology
report for Q1 2019 and FY 2018. The report summarises the Company's
geological progress during the period as well as its strategy for
2019 and provides references to those reports required by the JORC
Code (2012) which have also been made available on the Company's
website.
The detailed report on Q1 2019 and FY 2018 exploration can be
found using the following link:
http://www.rns-pdf.londonstockexchange.com/rns/5827C_1-2019-6-18.pdf
The following detailed JORC Reports referred to in the Q1 2019
and FY 2018 exploration report can also be accessed through the
links below and on the Company's website as follows.
1. Ugur Open Pit Mineral Resources report: http://www.angloasianmining.com/media/pdf/2017%20Ugur%20Mineral%20Resources.pdf
2. Ugur Open Pit Ore Reserves report: http://www.angloasianmining.com/media/pdf/2017%20Ugur%20Ore%20Reserves.pdf
3. Gedabek Open Pit Mineral Resources report: http://www.angloasianmining.com/media/pdf/2018%20Gedabek%20Mineral%20Resources.pdf
4. Gedabek Open Pit Ore Reserves report: http://www.angloasianmining.com/media/pdf/2018%20Gedabek%20Ore%20Reserves.pdf
5. Gedabek and Gosha FY18 Exploration report:
http://www.rns-pdf.londonstockexchange.com/rns/5827C_2-2019-6-18.pdf
6. Ordubad FY18 Exploration report: http://www.angloasianmining.com/media/pdf/2018%20Exploration%20Activities%20-%20Ordubad.pdf
7. Gadir Underground Mineral Resources report: http://www.angloasianmining.com/media/pdf/2019%20Gadir%20Mineral%20Resources.pdf
8. Gadir Underground Ore Reserves report: http://www.angloasianmining.com/media/pdf/2019%20Gadir%20Ore%20Reserves.pdf
9. Airborne ZTEM/Magnetic Survey Highlights report: http://www.angloasianmining.com/media/pdf/ZTEM%20Summary.pdf
10. Competent Persons Report ("CPR") as included as Part IV in
the 2005 Initial Public Offering ("IPO") Placing and Admission
document of Anglo Asian Mining to the AIM Market:
www.angloasianmining.com/investors/shareholder_info/constitutional_documents
The geological report also references the JORC (The Joint Ore
Reserves Committee of The Australasian Institute of Mining and
Metallurgy, Australian Institute of Geoscientists and Minerals
Council of Australia) 2012 Code (JORC 2012 Code). This is available
online at http://www.jorc.org
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
Competent Person Statement
The information in the announcement that relates to exploration
results, minerals resources and ore reserves is based on
information compiled by Dr Stephen Westhead, who is a full time
employee of Anglo Asian Mining with the position of Director of
Geology & Mining, who is a Fellow of The Geological Society of
London, a Chartered Geologist, Fellow of the Society of Economic
Geologists, Member of The Institute of Materials, Minerals and
Mining and a Member of the Institute of Directors.
Stephen Westhead has sufficient experience that is relevant to
the style of mineralisation and type of deposit under consideration
and to the activity being undertaken to qualify as a Competent
Person as defined in the 2012 Edition of the 'Australasian Code for
Reporting of Exploration Results, Mineral Resources and Ore
Reserves'. Stephen Westhead consents to the inclusion in the
announcement of the matters based on his information in the form
and context in which it appears.
Stephen Westhead has sufficient experience, relevant to the
style of mineralisation and type of deposit under consideration and
to the activity that he is undertaking, to qualify as a "competent
person" as defined by the AIM rules. Stephen Westhead has reviewed
the resources and reserves included in this announcement.
The information in this announcement that relates to Exploration
Targets, Exploration Results, Mineral Resources or Ore Reserves is
based on information compiled by Dr Stephen Westhead, a Competent
Person who is a Member or Fellow of a 'Recognised Professional
Organisation' (RPO) included in a list that is posted on the ASX
website from time to time (Chartered Geologist and Fellow of the
Geological Society and Member of the Institute of Material,
Minerals and Mining). Dr. Stephen Westhead is a full-time employee
of the Company.
**ENDS**
For further information please visit www.angloasianmining.com or
contact:
Reza Vaziri Anglo Asian Mining plc Tel: +994 12 596 3350
Bill Morgan Anglo Asian Mining plc Tel: +994 502 910 400
------------------------------ ----------------------
Stephen Westhead Anglo Asian Mining plc Tel: +994 502 916 894
------------------------------ ----------------------
Ewan Leggat SP Angel Corporate Finance Tel: +44 (0) 20 3470
LLP 0470
Nominated Adviser and Broker
------------------------------ ----------------------
Soltan Tagiev SP Angel Corporate Finance Tel + 44 (0) 20 3470
LLP 0470
Nominated Adviser and Broker
------------------------------ ----------------------
Gaby Jenner St Brides Partners Ltd Tel: +44 (0) 20 7236
1177
------------------------------ ----------------------
Isabel de Salis St Brides Partners Ltd Tel: +44 (0) 20 7236
1177
------------------------------ ----------------------
Notes:
Anglo Asian Mining plc (AIM:AAZ) is a gold, copper and silver
producer in Central Asia with a broad portfolio of production and
exploration assets in Azerbaijan. The Company has a 1,962 square
kilometre portfolio, assembled from analysis of historic Soviet
geological data and held under a Production Sharing Agreement
modelled on the Azeri oil industry.
The Company's main operating location is the Gedabek contract
area ("Gedabek") which is a 300 square kilometre area in the Lesser
Caucasus mountains in western Azerbaijan. The Company developed
Azerbaijan's first modern operating gold/copper/silver mine at
Gedabek which commenced gold production in May 2009. Mining at
Gedabek was initially from its main open pit, which is an open cast
mine with a series of interconnected pits.
The Company also operates the high grade Gadir underground mine,
which is co-located at the Gedabek site. In September 2017,
production commenced at the Ugur open pit mine, a recently
discovered gold ore deposit at Gedabek. The Company has a second
underground mine, Gosha, which is 50 kilometres from Gedabek. Ore
mined at Gosha is processed at Anglo Asian's Gedabek plant.
The Company produced 83,736 gold equivalent ounces ('GEOs') for
the year ended 31 December 2018. Gedabek is a polymetallic ore
deposit that has gold together with significant concentrations of
copper in the main open pit mine, and an oxide gold-rich zone at
Ugur. The Company therefore employs a series of flexible processing
routes to optimise metal recoveries and efficiencies. The Company
produces gold doré through agitation and heap leaching operations,
copper concentrate from its Sulphidisation, Acidification,
Recycling, and Thickening (SART) plant and also a copper and
precious metal concentrate from its flotation plant. A second
dedicated crusher line has been commissioned and is now in
operation for the flotation plant to enable it to operate
independently of the agitation leaching plant.
The Company has forecast metal production for FY 2019 of between
82,000 to 86,000 gold equivalent ounces ("GEOs"). Of the forecast
production for FY 2019, between 28,000 to 30,000 GEOs is in the
form of copper and gold flotation concentrate.
Anglo Asian is also actively seeking to exploit its first mover
advantage in Azerbaijan to identify additional projects, as well as
looking for other properties in order to fulfil its expansion
ambitions and become a mid-tier gold and copper metal production
company.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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