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Gedabek Resource Increase to 1.12 Moz of gold
Gedabek Resource Increase to 1.12 Moz of gold.
About this update from Anglo Asian Mining Plc
[{"type":"text","content":"\n \nRNS Number : 3066Q Anglo Asian Mining PLC 11 October 2013 \n \n\nAnglo Asian Mining plc / Ticker: AAZ / Index: AIM / Sector: Mining\n11 October 2013\nAnglo Asian Mining plc ('Anglo Asian' or 'the Company')\nGedabek Gold, Copper and Silver Mine JORC Measured and Indicated Mineral Resources Increase to 1.12 Moz of gold\n \nAnglo Asian Mining plc, the AIM listed gold producer in Azerbaijan, announces an increase in its JORC compliant gold resource at its flagship Gedabek gold/copper/silver mine ('Gedabek') located in the Republic of Azerbaijan to 44,644,658 tonnes at 0.783 g/t of gold ('Au') for 1,123,767 ounces in the Measured and Indicated categories. This is in accord with the Company's strategy to further increase the life of mine and ore reserves, which stand at 744,038 ounces of gold, at its producing Gedabek mine. \n \nOverview\n· Resource update following the completion of 26,842 meters of drilling (99 holes) as part of an on-going exploration programme in order to increase the mineral resources, ore reserves and life of mine at the producing Gedabek mine\n· Achieved increased geological knowledge and confidence in the quantity and quality of the mineral resources and ore reserves within the current economic open pit limit at Gedabek\n· Measured and Indicated gold resources (including mined ore) increased by circa 20% over that announced in March 2012, with an increase in ore tonnage from 37.11 million tonnes to 44.64 million tonnes at an average grade of 0.78 g/t\n· Total JORC compliant resource of 51,591,901 tonnes at 0.754 g/t Au for 1,250,043 ounces Au; 0.155 % Cu for 80,036 tonnes; and 5.915 g/t Ag for 9,811,719 ounces (at a cut-off grade of 0.3 g/t of gold)\n· Increased mineral resources of the southern regions and discovery of extension of the gold, copper and silver mineralisation in the west, northwest and northern regions\n· 394 drill holes (c.61,714 meters) completed to date at Gedabek\n· Updated resource does not include the 145,000 ounces of gold extracted from Gedabek between 1 January 2012 and 31 August 2013, which resulted in the production of 81,500 ounces of gold, with the remainder contained in stockpiled ore\n· Explorat...