Anglo Asian Mining PLC Regulatory News (AAZ)

2 Jun 2006 07:01

Anglo Asian Mining PLC02 June 2006 2 June 2006 ANGLO ASIAN MINING PLC ('Anglo Asian' or 'the Company') ENCOURAGING RESULTS AT GEDABEK Anglo Asian Mining PLC (AIM: AAZ) is pleased to announce that drilling at itsGedabek copper/gold prospect in Azerbaijan is progressing well and on plan. To date 19 diamond drill holes and 12 reverse circulation holes (RC) have beendrilled on an 80 metre grid. The holes completed and available assays indicatethe presence of significant copper and gold mineralisation at Gedabek. Assayresults received to date are summarised in the table attached. A gold equivalentcut-off grade of 0.50 grams per tonne (g/t) was used to define the intervals.Gold equivalent conversion is based on a ratio of 1g/t gold to 60 g/t silver and1% copper to 2.3g/t gold. The Company plans to complete further infill and boundary drilling to supplementthe current 80 metre spacing. The current evaluation programme includes afurther 22 drill-holes, making a total of 53 holes, and is expected to becomplete by the end of August 2006. Completion of this drill programme andreceipt of the assay data will allow Anglo Asian and their consultants SRKConsulting to develop a resource estimate for Gedabek. The Directors will continue to monitor the drilling results. When sufficientdata becomes available to make a reliable assessment of the resource, a furtherannouncement will be made. Ms. L Mach of SRK Consulting has reviewed and approved the information containedin this press release for the purposes of Part Two of the "Guidance Note forMining, Oil and Gas Companies" dated March 2006 issued by the London StockExchange. Ms. Mach is a Certified Professional Geologist (American Institute ofProfessional Geologists) and is considered a Qualified Person within the meaningof NI 43-101 and JORC. SRK Consulting is an international minerals consultancygroup, independent of Anglo Asian. Ends- For further details, please contact: Anglo Asian Mining PLC Graham Mascall, Chairman +44 20 7409 3232 Charles Hancock, Chief Executive +44 20 7409 3232 Richard Round, Finance Director +44 20 7409 3232 Numis Securities Limited John Harrison +44 20 7776 1590 Parkgreen Communications Victoria Thomas +44 20 7493 3713 Notes: 1. All holes are drilled vertically and reported intervals are drill-holelengths; true widths of mineralization intercepts have not yet been calculated. 2. The diamond drill cores are predominately HQ-sized (63.5mm diameter), withsome holes reduced to NQ (47.6mm diameter). The RC holes GDRC01a to GDRC07a are115mm in diameter. 3. The core is split on-site and one half is shipped to OMAC Laboratories Ltdin Loughrea, Ireland. RC chips are reduced to a nominal 2 kilogram sampleon-site and also sent to OMAC. Gold is analysed by fire assay (30 gram) withatomic absorption finish. Copper and silver are analysed with a 46 element ICPprocedure. A laboratory quality assurance/quality control programme is in placewith blanks and duplicate samples inserted into the sample stream. Externalcheck assays will be done at ALS Chemex in Vancouver, British Columbia, Canada. Table of Assay Results from Gedabek Drilling Programme Hole No. Type TD (m) From (m) To (m) Interval Au Eq (g/t) Au (g/t) Ag (g/t) Cu (%) (m) _______________________________________________________________________________________________________GDDD01 Core 110.2 32.0 95.0 63.0 5.33 4.49 25.07 0.19with 34.0 51.0 17.0 17.34with 61.0 86.0 25.0 0.28_______________________________________________________________________________________________________GDDD02 Core 125.0 0.0 7.0 7.0 0.60 0.15 1.51 0.19and 32.0 52.0 20.0 0.66 0.04 0.47 0.27_______________________________________________________________________________________________________GDDD03 Core 140.0 0.0 22.0 22.0 1.95 1.04 6.50 0.35with 0.0 6.0 6.0 3.36and 30.0 34.0 4.0 1.19 0.51 15.21 0.19and 58.0 70.0 12.0 0.77 0.08 1.26 0.29and 80.0 118.0 38.0 0.92 0.04 0.45 0.38_______________________________________________________________________________________________________GDDD04 Core 100.0 6.0 44.0 38.0 3.61 2.20 11.47 0.53and 54.0 66.0 12.0 2.58 2.03 5.82 0.20_______________________________________________________________________________________________________GDDD05 Core 165.0 38.0 52.0 14.0 1.25 0.45 12.92 0.26and 56.0 76.0 20.0 1.15 0.60 3.16 0.22_______________________________________________________________________________________________________GDDD06 Core 200.0 0.0 10.0 10.0 1.17 0.65 8.63 0.16and 14.0 24.0 10.0 1.67 1.35 2.40 0.12and 70.0 76.0 6.0 0.75 0.22 0.47 0.23_______________________________________________________________________________________________________GDDD07 Core 175.0 36.0 81.0 45.0 3.06 2.25 19.54 0.21_______________________________________________________________________________________________________GDDD08 Core 225.0 98.0 118.0 20.0 4.00 2.27 21.02 0.60_______________________________________________________________________________________________________GDDD09 Core 191.0 14.0 70.0 56.0 1.42 0.67 5.67 0.28_______________________________________________________________________________________________________GDDD10 Core 180.0 0.0 43.4 43.4 3.26 2.31 27.08 0.22and 43.4 44.4 1.0 Voidand 44.4 74.0 29.6 1.29 0.64 6.40 0.24and 94.0 100.0 6.0 0.63 0.04 0.25 0.25and 104.0 114.0 10.0 2.03 1.86 3.98 0.05_______________________________________________________________________________________________________GDDD11 Core 253.0 120.0 142.0 22.0 3.20 1.39 16.21 0.67_______________________________________________________________________________________________________GDDD12 Core 220.0 42.0 50.0 8.0 11.11 9.30 64.43 0.32and 50.0 54.8 4.8 Voidand 54.8 83.0 28.2 2.89 1.02 7.28 0.76and 93.0 109.0 16.0 1.02 0.81 1.87 0.08and 117.0 125.0 8.0 1.27 1.16 2.81 0.03_______________________________________________________________________________________________________GDDD13 Core 244.0 44.0 56.0 12.0 2.65 1.03 8.92 0.64and 64.0 106.0 42.0 0.95 0.54 4.07 0.15with 64.0 68.0 4.0 2.24 18.15_______________________________________________________________________________________________________GDRC01a RC 125.0 2.0 48.0 46.0 3.50 2.24 10.35 0.47with 14.0 31.0 17.0 5.02 19.89with 22.0 33.0 11.0 1.22and 57.0 76.0 19.0 3.73 3.53 2.45 0.07with 73.0 75.0 2.0 29.76 7.92and 84.0 91.0 7.0 1.97 1.67 4.87 0.09and 94.0 123.0 29.0 3.03 2.37 7.62 0.23_______________________________________________________________________________________________________GDRC02a RC 103.0 12.0 78.0 66.0 1.70 0.92 11.21 0.26with 53.0 60.0 7.0 1.31_______________________________________________________________________________________________________GDRC03 RC 148.0 23.0 60.0 37.0 4.51 3.67 35.58 0.11with 25.0 39.0 14.0 8.10 73.01and 64.0 97.0 33.0 1.07 0.12 0.86 0.41_______________________________________________________________________________________________________GDRC04a RC 88.0 78.0 84.0 6.0 1.39 0.16 6.50 0.49_______________________________________________________________________________________________________GDRC05 RC 147.0 18.0 51.0 33.0 4.74 3.20 27.89 0.47with 21.0 31.0 10.0 8.85 74.16and 54.0 59.0 5.0 2.95 0.12 1.55 1.22_______________________________________________________________________________________________________GDRC06 RC 66.0 20.0 47.0 27.0 9.69 6.70 72.06 0.78and 52.0 61.0 9.0 2.89 2.05 33.28 0.12_______________________________________________________________________________________________________GDRC07a RC 72.0 26.0 40.0 14.0 1.74 1.69 1.22 0.02and 43.0 62.0 19.0 3.62 2.69 22.30 0.24_______________________________________________________________________________________________________ This information is provided by RNS The company news service from the London Stock Exchange