AAM plans to receive first ore from new deposit in December

British company Anglo-Asian Mining Plc. (AAM), which extracts gold, silver and copper in Azerbaijan, plans to receive the first ore from the new Gilar deposit in December 2024, Report informs referring to the AAM.

"Development of the Gilar mine continued throughout 2024. The tunneling encountered worse ground conditions than anticipated, which has required the use of shotcrete and reinforced roof supports. Water has also been encountered which is now being pumped from the mine. Approximately 515 meters of the ventilation tunnel and 1,199 meters of the production tunnel have been completed. The surface infrastructure is now complete and includes a heavy equipment maintenance workshop.

The Group has a substantial portfolio of greenfield assets that lay the foundation for future growth of the business. Gilar, Zafar, Xarxar and Garadag all host significant ore deposits which contain total JORC mineral resources (measured, indicated and inferred) of over one million tonnes of copper and 328,000 ounces of gold," reads the report.

The company earlier reported that in 2024, it plans to extract 10,000 ounces of gold equivalent of precious metals and copper from the Gilar deposit. At the same time, it plans to extract 3,100 ounces of gold, 1,400 tons of copper and 49,000 ounces of silver. Gilar is a mineral deposit in the Gadabay contract area, located approximately 7 km from the company's processing facilities.

According to the company, two types of mineralization are present in this area: gold in quartz veins and gold-copper ore formation from hydrothermal solutions. Gilar has 6.10 million tons of mineralization with an average grade of 0.88 percent for copper and 1.30 grams of gold per ton. The mineral resources of the deposit are estimated at 53,890 tons of copper, 255,240 ounces of gold and 45,720 tons of zinc.