Anglo Asian Mining PLC (“Anglo Asian” or the “Company”), the AIM listed gold, copper and silver producer focused in Azerbaijan, is pleased to announce further drill results at the Gilar deposit. These confirm an extension to the mineralisation reported by previous drilling with intercepts of up to 68 metres of continuous gold and copper mineralisation:
Borehole 22GLDD127: 68.35m @ 2.40g/t gold, 2.89% copper and 1.58% zinc from 320.00m, including:
· 55.4m @ 2.7g/t Au, 3.5% Cu and 1.4% zinc at 1.5g/t gold cut-off from 331.00m, including at a 2.0 g/t Au cut-off
o 33.3m @ 3.0g/t Au, 5.4% Cu and 2.0% zinc from 333.00m
o 14.4m @ 2.8 g/t Au, 0.4% Cu and 0.2% zinc from 372.00m
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. Recent drilling has extended and confirmed the deeper zone of continuous mineralisation hosting significant gold, copper and zinc with intercept thickness of over 65 metres. One drill hole (22GLDD122 – figure 2 below) in the centre of Gilar also intersected significant mineralisation. 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. Selected drill hole assay results are detailed below in Table 1.
Stephen Westhead, Vice-President of Anglo Asian, commented: “Gilar continues to deliver exceptionally good grades of gold and copper over significant thicknesses of mineralisation. 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 optimise the recovery of metals. The team are very excited to progress this project at pace and begin production.”
Figure 1: 3-D section showing latest drill holes.
Figure 2: Map showing location of the latest drill holes.
Details about the drilling at Gilar
The Company is currently updating its databases to incorporate the increasing amount of information collected about each deposit. The Gilar database is being updated to capture this valuable information that will be used for QA/QC control, engineering and planning. Drilling will continue to test the extensions of mineralisation to the south-west as well as infill drilling in the central area.
Table 1 : Selected results from new drill assay results from the Gilar deposit are as follows:
|
|
Intercepts |
Weighted average grades |
||||
|
Borehole i.d. |
Depth From Metres |
Depth to Metres |
Downhole length Metres |
Gold g/t |
Copper Per cent. |
Zinc Per cent. |
|
22GLD D122 |
169.50 |
213.90 |
44.40 |
0.69 |
0.39 |
0.34 |
|
Including @ 0.50 Au |
169.50 |
32.10 |
0.84 |
0.52 |
0.46 |
|
|
Including @ 1.25 Au |
184.00 |
5.00 |
1.40 |
1.11 |
0.85 |
|
|
Including @ 1.25 Au |
197.30 |
3.10 |
2.18 |
0.82 |
2.60 |
|
|
22GLD D123 |
295.40 |
308.00 |
12.60 |
0.34 |
0.15 |
0.01 |
|
Including @ 0.40 Au |
299.20 |
4.00 |
0.77 |
0.38 |
0.02 |
|
|
22GLD D124 |
337.20 |
390.90 |
53.70 |
1.92 |
2.91 |
1.14 |
|
Including @ 1.0 Au |
339.70 |
49.30 |
2.05 |
3.12 |
1.21 |
|
|
Including @ 1.5 Au |
339.70 |
17.80 |
2.72 |
7.25 |
2.74 |
|
|
Including @ 1.5 Au |
364.50 |
5.00 |
1.64 |
0.74 |
0.28 |
|
|
Including @ 1.5 Au |
378.50 |
10.50 |
2.49 |
0.80 |
0.59 |
|
|
22GLD D125 |
344.20 |
406.50 |
62.30 |
2.24 |
2.77 |
1.86 |
|
Including @ 1.0 Au |
344.20 |
5.80 |
1.32 |
1.35 |
0.68 |
|
|
Including @ 1.0 Au |
357.30 |
42.40 |
2.94 |
3.83 |
2.60 |
|
|
Including @ 1.5 Au |
356.00 |
22.00 |
1.86 |
2.83 |
3.32 |
|
|
Including @ 1.5 Au |
386.00 |
13.70 |
5.54 |
2.37 |
0.97 |
|
|
22GLD D126 |
339.20 |
377.35 |
38.15 |
0.75 |
0.30 |
0.19 |
|
Including @ 0.40 Au |
340.10 |
7.90 |
1.02 |
0.10 |
0.02 |
|
|
Including @ 0.40 Au |
354.00 |
12.60 |
1.33 |
0.69 |
0.54 |
|
|
Including @ 1.25 Au |
360.75 |
5.85 |
2.01 |
1.30 |
0.26 |
|
|
22GLD D127 |
320.00 |
388.35 |
68.35 |
2.40 |
2.89 |
1.58 |
|
Including @ 1.5 Au |
331.00 |
55.40 |
2.72 |
3.47 |
1.41 |
|
|
Including @ 2.0 Au |
333.00 |
33.30 |
3.01 |
5.42 |
2.02 |
|
|
Including @ 2.0 Au |
372.00 |
14.40 |
2.79 |
0.37 |
0.22 |
|
Notes
(i) Main intercepts are reported at 0.1 grammes per tonne gold cut-off
(ii) Maximum internal waste of 5 metres and minimum intercepts of 3 metres
(iii) True thickness of mineralised intercepts is underdetermined
Free gold in the Gilar deposit
A mineralogical analysis facility has been established at Gedabek with the capability of preparing polished and thin sections of ore samples to enable the characterisation and quantification of the minerals contained in the samples by optical microscopy. In a recent study, free gold in quartz has been identified in samples of Gilar ore (Figure 3). This type of ore characterisation work allows the determination of mineral interrelations and liberation sizes, which are valuable data for both comminution and mineral separation process optimisation purposes.
Detailed mineralogical examination of field samples, combined with XRD (X-ray diffraction) analysis, also enables the Company’s exploration geologists to interpret mineral sequences that can be used for vectoring towards target mineralisation.
Figure 3: Gilar free gold in quartz in photo-micrograph.
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, which was incorporated into UK law by the European Union (Withdrawal) Act 2018, until the release of this announcement.
For further information please contact:
|
Anglo Asian Mining plc |
|
|
Reza Vaziri, Chief Executive Officer |
Tel: +994 12 596 3350 |
|
Bill Morgan, Chief Financial Officer |
Tel: +994 502 910 400 |
|
Stephen Westhead, Vice President |
Tel: +994 502 916 894 |
