Anglo Asian Mining plc, the AIM-listed gold, copper, and silver producer focused in Azerbaijan, announced a new copper-gold discovery, "Zafer", within the central region of its Gedabek Contract Area ("Gedabek CA") in western Azerbaijan.
The copper-gold mineral occurrence was discovered approximately 1.5 kilometers northwest of the Company's Gedabek processing plant. Discoveries were made through follow-up of field mapping associated with three ZTEM targets. Initial drilling focuses on areas identified by geological mapping, geophysics data, structural geology, and 12 drill holes have been completed with a total length of 7,675 meters.
Based on the work in 2020, a preliminary estimate of the deposit size is about 6 million tonnes of mineralized rock. The geological team at Gedabek continues to evaluate the continuity of mineralization within the deposit to develop resources for future economic evaluation. Identifying this zone is exciting as extensions along strike also intersect other targets, thus providing a potentially significant mineral resource.
Reza Vaziri, CEO and President, commented: "We are delighted to report the discovery of Zafer, an exciting mineral occurrence within the Gedabek contract area. This discovery demonstrates our belief in the Gedabek contract area's on-going potential and the effectiveness of our geological exploration program."
"The Company is undertaking the work necessary to produce JORC estimates for the discovery and to determine the best way to exploit the mineral occurrence commercially. I look forward to updating shareholders on our progress."