Business
Resource Upgrade - Gedabek
Resource Upgrade - Gedabek.
About this update from Anglo Asian Mining Plc
[{"type":"text","content":"\n RNS Number : 0859K Anglo Asian Mining PLC 13 April 2010 \n \n\nAnglo Asian Mining plc / Ticker: AAZ / Index: AIM / Sector: Mining\n13 April 2010\nAnglo Asian Mining plc ('Anglo Asian' or 'the Company')\nResource Upgrade - Gedabek\n \nAnglo Asian Mining plc, the AIM listed emerging gold producer, is pleased to announce the initial results of Phase I of the Realistic Mineral Resources Model Report ('the Report') produced by SGS Canada Incorporated Geometallurgy Group ('SGS') on behalf of the Company. \n \nWith the benefit of information and data derived from the Company's successful exploitation of the Gedabek gold/copper mine in Azerbaijan ('Gedabek') together with additional drilling information gathered by SGS at Gedabek, the Report reassesses the data employed in making the JORC Code compliant mineral resources statement provided by SRK in 2006. It indicates upgrades for the measured, indicated and inferred gold, copper and silver metal contents of at least 50%.\n \nThe mineral resources were estimated by accessing, reviewing, validating and processing the whole geological and chemical information from 141 exploration diamond and reverse circulation (29 diamonds, 34 reverse circulation and 78 combined) drillholes and 262 production blastholes.\n \nImportant notice\nThis announcement is being made by Anglo Asian pursuant to AIM Rule 11 and the Guidance Note for Mining, Oil and Gas Companies dated June 2009 ('the Guidance Note') issued by the London Stock Exchange. The Report has been prepared in accordance with JORC Code standards but has yet to be signed off by a JORC Qualified Person. A report which complies with the JORC Code is expected within the next four weeks and a further announcement will be made at that time.\n \nIt should also be noted that the 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. This work is expected to be completed in late 2010 and will increase the confidence of the Anglo Asian Board in the new resource evaluations. The results of the Report are therefore subject to revision.\n \nProfessor John Monhemius, a director of Anglo Asian, has reviewed and approved the information contained in this press release as ...