Last checked at 2 Dec 2021 07:00
Anglo Asian Mining plc / Ticker: AAZ / Index: AIM / Sector: Mining
2 December 2021
Anglo Asian Mining plc
Permission Granted to access the Zangilan district of Azerbaijan
Reza Vaziri and Senior Management to visit the Zangilan district in early December to assess the Company's Mining Properties and other assets in the Vejnaly contract area
Anglo Asian Mining plc ("Anglo Asian" or the "Company"), the AIM listed gold, copper and silver producer focused in Azerbaijan, is pleased to announce that the Government of Azerbaijan has now granted Company employees access to the Zangilan district. Members of the Company's senior management including Reza Vaziri, Chief Executive Officer and President, will travel to Zangilan in early December to assess its Vejnaly contract area, including the existing mines at the site. Work to be carried during the assessment includes the following:
· The existing stockpiles will be surveyed and geological samples collected for analysis;
· Those adit entrances to the underground mine which are currently accessible will be surveyed, and GPS mapping of their locations will be carried out;
· The existing camp facilities will be inspected to determine the level of refurbishments and other works required to enable employees to be based in the contract area; and
· Conditions permitting, an inspection of the underground mine is also planned.
This assessment is the first stage in the development of the asset. The Company hopes to begin exploration and processing of ore from Vejnaly in the near future and looks forward to updating shareholders following completion of the assessment.
The Government of Azerbaijan is undertaking rapid economic and infrastructure development of the Zangilan district following the end of the conflict with Armenia. Construction of an international airport is underway, which is due for completion in 2022 and an electrical substation has recently been opened in the district.
The Vejnaly contract area comprises approximately 300 square kilometres situated in the Zangilan district in South Western Azerbaijan. It contains the Vejnaly deposit which has been subject to prior mining during the Armenian occupation.
**ENDS**
For further information please contact:
Reza Vaziri | Anglo Asian Mining plc | Tel: +994 12 596 3350 |
Bill Morgan | Anglo Asian Mining plc | Tel: +994 502 910 400 |
Stephen Westhead | Anglo Asian Mining plc | Tel: +994 502 916 894 |
Ewan Leggat | SP Angel Corporate Finance LLP Nominated Adviser and Broker | Tel: +44 (0) 20 3470 0470 |
Adam Cowl | SP Angel Corporate Finance LLP Nominated Adviser and Broker | Tel + 44 (0) 20 3470 0470 |
Charlie Jack | Hudson Sandler | Tel: +44(0) 20 7796 4133
|
Elfie Kent | Hudson Sandler | Tel: +44(0) 20 7796 4133 |
Notes to editors:
Anglo Asian Mining plc (AIM:AAZ) is a gold, copper and silver producer in Central Asia with a broad portfolio of production and exploration assets in Azerbaijan. The Company produced 67,249 gold equivalent ounces ("GEOs") for the year ended 31 December 2020. The Company has a production target for the year to 31 December 2021 of 48,000 ounces to 54,000 ounces of gold and 2,500 tonnes to 2,800 tonnes of copper. This total production target expressed as gold equivalent ounces ("GEOs") at budgeted prices is between 64,000 GEOs and 72,000 GEOs.
The Company has recently announced a transaction with the Government of Azerbaijan which grants it three additional concessions with a combined area of 882 square kilometers which include the Garadagh porphyry copper deposit with a Soviet classified resource of over 300,000 tonnes of copper. The transaction is subject to ratification by the parliament of Azerbaijan.
https://www.angloasianmining.com/