Baku. 13 March. REPORT.AZ/ British Anglo-Asian Mining Plc., which is engaged in gold, silver and copper production in Azerbaijan, has announced its plans to launch a geological exploration program this year.
Report informs, this year approximately $ 6 million will be spent on the program.
The geological programme is designed to extensively explore Gedabek through a three-year rolling programme. In addition, work will be carried out at Gosha and Ordubad to further evaluate their potential.
Geological evaluation at Gedabek will be undertaken using various methods. Core and reverse circulation drilling will be carried out at, and near to, existing mines. Geological field mapping and sampling and trenching will also be carried out at more prospective areas.
About $ 1.5 mln will be spent on drilling rigs.
This year, a total of around 43,500 metres of surface and underground drilling is planned within the framework of geological exploration. 2,500 metres of core and 7,500 metres of reverse circulation drilling are planned for 2018 in Gedabek main open pit. Ground and underground drilling works are expected in the "Gadir" underground mine.
4,500 metres of core and 4,500 metres of reverse circulation drilling are planned for 2018.
Notably, Anglo-Asian Mining is engaged in production in Azerbaijan in the framework of the contract such as PSA (Production Sharing Agreement), signed on 21 August 1997. The agreement includes the development of six fields: in Nakhchivan - 1, Gadabay - 2, Kalbajar and Zangilan, which are currently under Armenian occupation - 3. İn the agreement Azerbaijan's share is 51%, British company Anglo Asian Mining Plc. - 49%. The company commenced gold production in 2009 (in Gadabay deposit).
Gadabay is an open cast mine with a series of interconnected pits. The company has a second underground mine, Gosha, which is 50 kilometres from Gadir and Gadabay.
Discovery of the Ugur field was reported in October 2016. The bed is located 3 km north-west from the Anglo-Asian Mining Leaching Plant.