Anglo Asian Mining PLC Completion of Ugur JORC Resource (2999S)
October 02 2017 - 1:00AM
UK Regulatory
TIDMAAZ
RNS Number : 2999S
Anglo Asian Mining PLC
02 October 2017
2 October 2017
Anglo Asian Mining plc
Completion of Ugur JORC Mineral Resources Report and Ore
Reserves Report
Anglo Asian Mining plc ("Anglo Asian" or "the Company"), the AIM
listed gold, copper and silver producer, is pleased to announce
that further to the announcement of 14 August 2017 regarding the
maiden Mineral Resources and Ore Reserves estimate for the
producing Ugur gold deposit ("Ugur") located at the Company's
Gedabek licence area ("Gedabek") in Western Azerbaijan, the JORC
Mineral Resources Report and Ore Reserves Report have now been
completed.
The JORC Mineral Resources Report and Ore Reserves Report
reiterate the previously stated JORC Mineral Resources and Ore
Reserves of:
-- Total Mineral Resource of 199,000 ounces of gold and 1,049,000 ounces of silver
-- Measured plus Indicated Mineral Resource of 172,000 ounces of
gold and 884,000 ounces of silver
-- Proven plus Probable Reserves of 147,000 ounces of gold and 808,000 ounces of silver
As announced on 13 September 2017, production from Ugur
commenced in early September 2017 utilising the processing
facilities located at the main Gedabek site. The processing of ore
from Ugur has significantly increased Anglo Asian's total average
daily gold production in September 2017, which has doubled compared
to the average daily production of the previous eight months from
January to August 2017.
The Ugur JORC Mineral Resources Report can be accessed via the
following link:
http://www.rns-pdf.londonstockexchange.com/rns/2999S_2-2017-9-29.pdf
The Ugur JORC Ore Reserves Report can be accessed via the
following link:
http://www.rns-pdf.londonstockexchange.com/rns/2999S_1-2017-9-29.pdf
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
**ENDS**
For further information please visit or contact:
Anglo Asian Mining Tel: +994 12 596
Reza Vaziri plc 3350
-------------- ------------------- -----------------
Anglo Asian Mining Tel: +994 502
Bill Morgan plc 910 400
-------------- ------------------- -----------------
Stephen Anglo Asian Mining Tel: +994 502
Westhead plc 916 894
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Ewan Leggat SP Angel Corporate Tel: +44 (0) 20
Finance LLP 3470 0470
Nominated Adviser
and Broker
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Soltan Tagiev SP Angel Corporate Tel + 44 (0) 20
Finance LLP 3470 0470
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Susie Geliher St Brides Partners Tel: +44 (0) 20
Ltd 7236 1177
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Notes: About Anglo Asian Mining plc
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 has a 1,962 square
kilometre portfolio, assembled from analysis of historic Soviet
geological data and held under a Production Sharing Agreement
modelled on the Azeri oil industry.
The Company developed Azerbaijan's first operating
gold/copper/silver mine, Gedabek, which commenced gold production
in May 2009. Gedabek is an open cast mine with a series of
interconnected pits. The Company also operates the high grade
Gadir underground mine which is co-located at the Gedabek site.
The Company has a second underground mine, Gosha, which is 50
kilometres from Gedabek. Ore mined at Gosha is processed at Anglo
Asian's Gedabek plant.
Gold production for the year ended 31 December 2016 from Gedabek
totaled 65,394 ounces with 1,941 tonnes of copper also produced.
Gedabek is a polymetallic deposit and its ore has a high copper
content, and as a result the Company produces copper concentrate
from its Sulphidisation, Acidification, Recycling, and Thickening
(SART) plant. Anglo Asian also produces a copper and precious metal
concentrate from its flotation plant, which is processing tailings
from the agitation leach plant.
Anglo Asian is also actively seeking to exploit its first mover
advantage in Azerbaijan to identify additional projects, as well as
looking for other properties in order to fulfil its expansion
ambitions and become a mid-tier gold and copper metal production
company.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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