Business
Gedabek Update
Gedabek Update.
About this update from Anglo Asian Mining Plc
[{"type":"text","content":"\n RNS Number : 8022M Anglo Asian Mining PLC 01 June 2010 \n \n\nAnglo Asian Mining plc / Ticker: AAZ / Index: AIM / Sector: Mining\n1 June 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'), with Competent Person ('CP') sign off, are expected to be completed by the end of July 2010. \n \nThe Company announced the initial results of Phase I of the Report on 13 April 2010, and it has since been established that additional review work is necessary, resulting in a delay to the completion of the final report while SGS complete the work required by the JORC Code Qualified CP.\n \nIndependent sampling by the SGS CP is taking place at Gedabek in lieu of percussion drilling and twining validation of historical diamond drilling. These results will be incorporated into the SGS JORC compliant resource statement to be issued in July 2010.\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 late 2010 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 Se...