LONDON (Alliance News) - Anglo Asian Mining PLC has found further "highly promising" targets at the Gedabek project, it said Thursday, as well as a new discovery at Gosha.
Anglo Asian has finished a 3,385 kilometre electromagnetic and magnetic survey which has found "multiple highly promising and prospective mineral targets".
They survey has confirmed mineable copper and gold extensions at the northern and southern edges of the open pit at Gedabek, in Azerbaijan.
At Gosha, Anglo Asian has found polymetallic mineralisation at the Asrikchay target following drilling, located some seven kilometres north of the existing mine at Gosha.
Anglo Asian's Director of Geology & Mining Stephen Westhead commented: "The polymetallic discovery at the Asrikchay area of Gosha was also a very exciting discovery. It is the first of this mineral style identified at Gosha and the first indication of the presence of copper in the region.
"Exploration continues to underpin the future production and growth of the company. The current exploration activities are already yielding significant results and I look forward to further updating our shareholders on the results of our efforts in the future."
Shares were 6.8% higher on Monday afternoon at 83.80 pence each.
Anglo Asian (AAZ)