UK's Anglo-Asian Mining Plc, engaged in the production of gold, silver, and copper in Azerbaijan, continues to work hard on the top-priority exploration of the new Zafar deposit, which has already demonstrated significant copper-gold drill hole intersections with encouraging copper, zinc, and gold grades, Report informs, citing the official website of the company.
"We look forward to releasing the maiden JORC resource for the project by the end of this month or early August," the company said in a statement.
The company discovered the new gold and copper deposit, Zafar, in the Gadabay contractual area in January this year. The new deposit is around 1.5 km northwest of the company's processing enterprise. The site was discovered through exploration and mapping. The drilling works resulted in the determination of three mineralized zones. Twelve drill holes have been completed with a total depth of 6,775.
It should be noted that Anglo-Asian Mining is engaged in production in Azerbaijan under the PSA (Production Sharing Agreement) signed on August 21, 1997. Azerbaijan's share in the agreement is 51%, while the company's share is 49%. The first gold production (in the Gadabay field) began in 2009.
Gadabay is an open-pit mine with integrated mines. The company is also engaged in production at the Gosha underground mine, 50 km from the Gadir and Gadabay fields, and at the newly discovered Ugur field.