Anglo Asian Regulatory News (AAZ)

16 Nov 2006 07:01

Anglo Asian Mining PLC16 November 2006 16 November 2006 ANGLO ASIAN MINING PLC ('Anglo Asian' or 'the Company') GEDABEK DRILLING UPDATE Anglo Asian Mining PLC (AIM: AAZ), the gold and copper development company withprojects in Azerbaijan, today issues the following update on its Gedabekdrilling programme: The Company is progressing towards the completion of a scoping study on itsGedabek gold, copper and silver project in north-west Azerbaijan and a resourceestimate is being prepared for release at the end of November. Since the lastpress release on 24 August, 2006 the Company has received the results from afurther 74 drill-holes which have been drilled primarily to delineate a resourcecompliant with JORC guidelines at Gedabek. The latest results confirm the continuity of mineralisation and consistency ingrade previously reported. Furthermore, similar style mineralisation has beenintersected some 400 metres north of the main deposit, highlighting thepotential to expand the resource in the future. Detailed in the table below are the best intercepts encountered from the latestdrilling. A cut-off of 0.3 g/t Au was used to define the intercepts. Hole No Type From To Metres Au (g/t) AuEq(g/t) Ag (g/t) Cu % GDDD24 Core 0 28 28.0 3.72 5.06 32.0 0.35 GDRC16 RC 39 64 25.0 1.26 2.63 28.3 0.39 GDRD02 RC/Core 64 97 33.0 1.91 2.78 5.1 0.34 GDRD04a RC/Core 39 54 15.0 2.32 5.02 17.5 1.05 GDRD05 RC/Core 16 56 40.0 1.91 3.34 11.5 0.54 GDRD18 RC/Core 12 62 50.0 1.22 1.62 8.0 0.11 GDRD29 RC 0 20 20.0 3.60 4.79 39.7 0.23 GDRD33 RC/Core 0 10 10.0 7.05 7.47 9.4 0.11 GDRD35 RC/Core 172 186 14.0 2.63 5.76 31.0 1.14 GDRD37 RC/Core 24 52 28.0 1.84 3.24 20.7 0.46 GDRD38 RC 8 44 36.0 3.46 5.67 31.5 0.74 GDRD41 RC 0 26 26.0 1.65 2.31 10.8 0.21 GDRD46 RC/Core 208 224 16.0 6.31 7.78 35.3 0.38 GDRD50 RC/Core 34 62 28.0 1.83 3.23 14.3 0.50 Holes were drilled using both reverse circulation drills (RC) and diamond drills(Core) or a combination of RC at the top of the hole and Core at the bottom. A detailed list of all the latest drill-holes results, together with photos ofthe recent visit to site by the President of Azerbaijan, Ilham Aliev, areavailable on the Company's website at www.aamining.com. 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 Gordon Lewis, 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 This information is provided by RNS The company news service from the London Stock Exchange