Anglo Asian Mining PLC ("Anglo Asian" or the "Company"), the AIM listed gold, copper and silver producer focused in Azerbaijan, is pleased to announce an update of the Company's ongoing growth and exploration strategy, noted in the report of the Company, APA-Economics reports.
The Company's strategy is focused on three key objectives:
1 Prioritising discoveries identified by current exploration to increase production and mine life
2 Long term upside potential of existing concessions
3 Evaluating other opportunities, both within and outside Azerbaijan
Significant work has already been carried out on each of these objectives.
Prioritising discoveries identified by current exploration to increase production and mine life
· The Company is now focused on five discoveries which can be fast tracked into production
· Gold and copper mineralisation exist on or near the surface for each discovery giving good potential for mine development - production anticipated from 2022 onwards
· Development programmes completed for the five discoveries as follows:
Avshancli 1 and Avshancli 3
§ Located in the north-east sector of Gedabek, 6.5 kilometres from existing processing facilities
§ Potential for open pit mines producing gold-rich ore for leaching and copper-rich ore for flotation, with production potentially commencing in 2022
§ Located in the north-east sector of Gedabek close to Avshancli
§ Gold in quartz on surface with underlying copper