LONDON (Alliance News) - Anglo Asian Mining PLC said Thursday it will carry out an airborne geophysical survey "in the coming weeks" over its entire Gedabek contract in Azerbaijan to identify additional gold copper drill targets.
It is the first airborne geophysical survey launched in the area spanning 300 square kilometres.
Anglo Asian are hoping the survey will identify additional gold and copper mineralised structures - to add to its 2018 production forecast of 78,000 to 84,000 gold equivalent ounces.
Canadian company Geotech Ltd has been contracted to conduct the survey.
"This is the first comprehensive survey not only of the entire Gedabek site but is the first of its type to be carried out in Azerbaijan. It is an important milestone in realising Gedabek's significant mineralisation potential. We are already aware of many gold and copper mineral occurrences at Gedabek, and this survey should provide information on mineralisation trends at depth, thus allowing for focused future ground-based follow-up work," said Stephen Westhead, director of Geology & Mining.
"I am delighted that Geotech will carry out this airborne geophysical survey and I am also very pleased that the Ministry of Emergencies of the Republic of Azerbaijan has agreed to assist us by providing helicopter services." Westhead added.
Shares in Anglo Asian Mining were up 4.7% on Thursday at 44.50 pence each.
Anglo Asian (AAZ)