Azerbaijan commences production in a new gold deposit

Baku. 13 September. REPORT.AZ/ Production has been commenced in "Ugur" gold deposit discovered in Azerbaijan's Gadabay district in 2016.

Report informs, said the UK's Anglo-Asian Mining Plc, which deals with gold, silver and copper production in Azerbaijan.

It was noted that "Ugur" deposit is already making a highly significant contribution to the total production.

The average daily gold production in the form of gold doré for the period from 1 to 10 September 2017 was 212 ounces which is 116 per cent. higher (more than doubled) than the average daily production for the previous eight months. This average daily production is expected to increase further as "Ugur" moves into full production.

Notably, the last evaluation delineated a total Mineral Resource of 199,000 ounces of gold and 1,049,000 ounces of silver.

The information about the discovery of "Ugur" deposit spread in October last year. The deposit is located 3 km north-west of the Anglo-Asian Mining plant.