Business
Notice of Discovery for Gold at Ordubad Azerbaijan
Notice of Discovery for Gold at Ordubad Azerbaijan.
About this update from Anglo Asian Mining Plc
[{"type":"text","content":"\n \nRNS Number : 8030B Anglo Asian Mining PLC 23 April 2012 \n \n\nAnglo Asian Mining plc / Ticker: AAZ / Index: AIM / Sector: Mining\n23 April 2012\nAnglo Asian Mining plc ('Anglo Asian' or 'the Company')\nNotice of Discovery for Gold at Ordubad Contract Area in Azerbaijan\n \nAnglo Asian Mining plc, the AIM listed gold producer, announces that it has submitted a Notice of Discovery for gold on its 462 sq km Ordubad Contract Area located in Azerbaijan to the Ministry of Ecology and Natural Resources. \n \nThe Notice of Discovery is a requirement set out in the Company's Production Share Agreement ('PSA') signed with the Government of Azerbaijan which needs to be in place before the technical and economical evaluation of a deposit in terms of a Development and Production Programme can take place.\n \nThe Notice of Discovery has been submitted following exploration work performed by Anglo Asian at its Piyazbashi and Agyurt deposits at Ordubad during 2010 and 2011, building on work performed in Soviet times. This exploration work included surface trenching and sampling, re-sampling of 3,000m of adits, 2,500m of surface drilling and 1,400m of underground drilling at the Agyurt target. Further information concerning the results of the studies and exploration work will be announced in due course and further exploration work is now planned with a view to confirming a small gold deposit with production potential. \n \nAccording to the terms of the PSA, following the submission of the Notice of Discovery, the Company has six months to submit a Development and Production Programme to the Government of Azerbaijan for approval.\n \n**ENDS**\n \nFor further information please visit www.angloasianmining.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\nEwan Leggat\n\n\nFairfax I.S. PLC\n\n\nTel: +44 (0) 20 7598 5368\n\n\n\n\nLaura Littley\n\n\nFairfax I.S. PLC\n\n\nTel: +44 (0) 20 7598 5368\n\n\n\n\nFelicity Edwards\n\n\nSt Brides Media & Finance Ltd\n\n\nTel: +44 (0) 20 7236 1177\n\n\n\n\nIsabel Crossley\n\n\nSt Brides Media & Finance Ltd\n\n\nTel: +44 (0) 20 7236 1177\n\n\n...