Business
Gedabek Resource Update
Gedabek Resource Update.
About this update from Anglo Asian Mining Plc
[{"type":"text","content":"\n RNS Number : 3987Q Anglo Asian Mining PLC 03 August 2010 \n \n\nAnglo Asian Mining plc / Ticker: AAZ / Index: AIM / Sector: Mining\n3 August 2010\nAnglo Asian Mining plc ('Anglo Asian' or 'the Company')\nPhase I of the Realistic Mineral Resources Model Report - Gedabek Update\n \nAnglo Asian Mining plc, the AIM quoted gold producer, announces that it has been advised by its mining consultants, SGS Mineral Services ('SGS'), that the final JORC compliant resource results of Phase I of the Realistic Mineral Resources Model Report ('the Report') at the Company's Gedabek gold/copper mine in Azerbaijan ('Gedabek'), are now expected to be available by the end of August 2010. The resource upgrade, which SGS has indicated will exceed existing figures by at least 50% for the measured, indicated and inferred gold, copper and silver metal contents at Gedabek (RNS:13 April 2010), is well progressed, however additional work required at the modelling stage has necessitated a longer timetable than expected. Gedabek's resource currently stands at 702,000 ounces of gold, 37,500 tonnes of copper and 6,100,000 ounces of silver.\n \nThe Report represents the first phase of SGS's work; the second phase of the project will involve in-fill drilling to increase the reliability of the results obtained from the original drill holes and for metallurgical/environmental assessment of the mineralisation. This work is expected to be completed in Q4 2010/Q1 2011 and will increase the Board's confidence in the new resource evaluations. It is the Board's intention to prepare a new Mineral Reserves Statement after completion of the second phase of the project in order to comply with the JORC Code for producing mines by first half of 2011.\n \n**ENDS**\n \nFor further information please visit www.aamining.com or contact:\n \n\n\n\n\nReza Vaziri\n\n\nAnglo Asian Mining plc\n\n\nTel: +994 12 596 3350\n\n\n\n\nAndrew Herbert\n\n\nAnglo Asian Mining plc\n\n\nTel: +994 12 596 3350\n\n\n\n\nJohn Harrison\n\n\nNumis Securities Limited, as Nominated Adviser\n\n\nTel: +44 (0) 20 7260 1000\n\n\n\n\nJames Black\n\n\nNumis Securities Limited, as Corporate Broker\n\n\nTel: +44 (0) 20 7260 1000\n\n\n\n\nHugo de Salis\n\n\nSt Brides Media & Finance Ltd\n...