Business
Exploration Results & Update
Exploration Results & Update.
About this update from Anglo Asian Mining Plc
[{"type":"text","content":"\n Anglo Asian Mining PLC\n17 January 2006\n\n\n\n17 January 2006\n\n\n\nAIM: AAZ\n\n ANGLO ASIAN MINING PLC\n ('Anglo Asian' or 'the Company')\n\n Further exploration results from Azerbaijan and trading update\n\n\nAnglo Asian reports on the further preliminary exploration work carried out\nwithin the Gosha property and the Ordubad Contract Area, which includes the\nPiyazbashi, Shakardara and Misdag properties, in accordance with its ongoing\nexploration programme. The initial results from the Gosha and Piyazbashi\nproperties have been encouraging and confirm the original Soviet data. The\nresults from the first of three adits at Shakardara have been disappointing.\n\n\nGosha\n\n\nResults from the first 100 continuous channel samples over 200 metres from adits\n5 and 7 of the Gosha property give an average of 3.02 grams per tonne ('g/t') of\ngold, including 48 metres averaging 5.18g/t gold in adit 5 and 20 metres at\n14.84g/t gold in adit 7. These results confirm two of the large vein-like\nstructures as described in the AIM Admission Document and are in line with the\nSoviet data. Results from a further 218 samples from adits 5 and 7 are expected\nby the end of January 2006.\n\n\n\nOrdubad\n\n\n\nAnglo Asian has carried out preliminary sampling and drilling at its Piyazbashi\nproperty and sampling at its Shakardara and Misdag properties within the Ordubad\nContract Area.\n\n\n\nPiyazbashi\n\nResults have been received from the first two deep diamond drill holes on the\nPiyazbashi property along with 28 samples from adit 1. The preliminary results\nreceived to date confirm the presence and gold grade of the veins, which is\nbroadly in line with the Soviet data. Full detailed results will be published\nin the near future together with the results of continuing further drilling.\n\n\n\nAreas outside the defined Piyazbashi property have also been investigated by the\nuse of trenching and reverse circulation drilling. The results from these\nstep-out areas showed minimal gold content. These areas did not include any\ninferred resources.\n\n\n\nShakardara\n\nAt Shakardara, although a single sample result yielded 2.1 g/t gold, the average\nof the preliminary channel sampling of adit 12 was 0.09 g/t of gold, as opposed\nto the Soviet classified grade in that adit of an average of 1.1 g/t gold over\n380 metres. Retesting and resampling...