Business
Gedabek Assay Results
Gedabek Assay Results.
About this update from Anglo Asian Mining Plc
[{"type":"text","content":"\n Anglo Asian Mining PLC\n02 June 2006\n\n\n2 June 2006\n\n ANGLO ASIAN MINING PLC\n ('Anglo Asian' or 'the Company')\n\n ENCOURAGING RESULTS AT GEDABEK\n\n\nAnglo Asian Mining PLC (AIM: AAZ) is pleased to announce that drilling at its\nGedabek copper/gold prospect in Azerbaijan is progressing well and on plan.\n\nTo date 19 diamond drill holes and 12 reverse circulation holes (RC) have been\ndrilled on an 80 metre grid. The holes completed and available assays indicate\nthe presence of significant copper and gold mineralisation at Gedabek. Assay\nresults received to date are summarised in the table attached. A gold equivalent\ncut-off grade of 0.50 grams per tonne (g/t) was used to define the intervals.\nGold equivalent conversion is based on a ratio of 1g/t gold to 60 g/t silver and\n1% copper to 2.3g/t gold.\n\nThe Company plans to complete further infill and boundary drilling to supplement\nthe current 80 metre spacing. The current evaluation programme includes a\nfurther 22 drill-holes, making a total of 53 holes, and is expected to be\ncomplete by the end of August 2006. Completion of this drill programme and\nreceipt of the assay data will allow Anglo Asian and their consultants SRK\nConsulting to develop a resource estimate for Gedabek.\n\nThe Directors will continue to monitor the drilling results. When sufficient\ndata becomes available to make a reliable assessment of the resource, a further\nannouncement will be made.\n\nMs. L Mach of SRK Consulting has reviewed and approved the information contained\nin this press release for the purposes of Part Two of the 'Guidance Note for\nMining, Oil and Gas Companies' dated March 2006 issued by the London Stock\nExchange. Ms. Mach is a Certified Professional Geologist (American Institute of\nProfessional Geologists) and is considered a Qualified Person within the meaning\nof NI 43-101 and JORC. SRK Consulting is an international minerals consultancy\ngroup, independent of Anglo Asian.\n\n\nEnds-\n\n\n\nFor further details, please contact:\n\nAnglo Asian Mining PLC Graham Mascall, Chairman +44 20 7409 3232\n Charles Hancock, Chief Executive +44 20 7409 3232\n Richard Round, Finance Director +44 20 7409 3232\n\nNumis Securities Limited John Harrison +44 20 7776 1590\n\nParkgreen Communications Victoria Thomas +44 20 7493 3713\n\n\n\nNotes:\n\n1. All holes are drilled vertically...