(Alliance News) - Anglo Asian Mining PLC said on Thursday that production in the first six months of the year from three of its contract areas in Azerbaijan were positive.
In the Gedabek project, eight diamond drill holes totalling 949 metres were completed in the open pit during the half, the company reported gold grades of up to 11.1 grams per tonne.
A ventilation shaft was completed on the project, and this will allow for continued underground development and exploration, Anglo Asian said.
Also in the Gedabek project, trenching was completed in the Zehmet discovery, with gold grades of up to 3.4 grams per tonne.
Zehmet was a target the company found during an electromagnetic ZTEM survey at Gedabek conducted earlier this year. The company added that "significant progress" has been made on its ZTEM targets.
In the Gosha, the second project, outcrop sampling revealed "encouraging" gold grades of up to 7.5 grams per tonne in the Asrikchay discovery and 10.3% copper grades in the Khatinca segment.
Ordubad, the third project, had a drill project conducted in its Dirnis target with "very promising" results, Anglo Asian said. The miners added that 18 diamond drill holes totalling 3,643 metres were completed. Early assay results have returned one drill-hole with a 3.8% copper grade and 48 grams per tonne of silver.
The company is still awaiting results from a programme at Ordubad's Keleki target where 10 diamond holes were drilled totalling 1,765 metres.
Looking ahead, the company said it will continue exploring copper potential at the Gedabek open pit. Further work, including a diamond drilling programme at the Ascrikchay target, is planned in the Gosha underground mine.
Shares in Anglo Asian Mining were up 5.0% at 138.60 pence each in London on Thursday afternoon.
Anglo Asian (AAZ)