Business
Ugur Gold Deposit Development & Strategy Update
Ugur Gold Deposit Development & Strategy Update.
About this update from Anglo Asian Mining Plc
[{"type":"text","content":"\n \nRNS Number : 3798E Anglo Asian Mining PLC 08 May 2017 \n\nAnglo Asian Mining plc / Ticker: AAZ / Index: AIM / Sector: Mining\n \n8 May 2017\nAnglo Asian Mining plc\nUgur Gold Deposit Development & 2017 Strategy Update \n \nAnglo Asian Mining plc (\"Anglo Asian\" or \"the Company\"), the AIM listed gold, copper and silver producer, is pleased to announce the completion of Phase II core drilling and additional development progress at its \"Ugur\" gold deposit, located on the Company's Gedabek licence area (\"Gedabek Licence\") in Western Azerbaijan, ahead of targeted first mining in Q4 2017.\n \nOverview\n \n· Considerable progress made at newly discovered Ugur gold deposit ahead of intended first production in Q4 2017\n· Supports Anglo Asian's strategy to increase exploration activities at its Gedabek Licence alongside continuing production to optimise long-term profitable and sustainable production\n· Ugur production will contribute to Anglo Asian's total gold equivalent target for 2017 of 64,000 to 72,000 ounces \n \nUgur Development Highlights\n· Phase II core drilling programme completed at end April 2017 to enable resource and reserve estimation in Q3 2017\n· Drilling expands the total resource potential at the Gedabek Licence, providing significant potential upside to the Company's future gold production\n· Independent quality assurance and quality control assaying of drill samples is underway\n· Independent geotechnical-hydrogeological study completed for open pit mine design \n· Further metallurgical test-work confirms the amenability of gold ores to leaching (both agitation and heap leaching)\n· Haul road design finalised following completion of a detailed topographic survey of the area between the Ugur gold deposit and the Gedabek processing facilities\n· JORC reserve calculation and ore extraction plan targeted for completion in Q3 2017\n· Significant upside potential from results of alteration mapping - core drilling of flanks of main zone planned\n \nAnglo Asian CEO, Reza Vaziri, said \"As a result of the accelerated work programme conducted at Ugur over recent months, we are on track to deliver a JORC r...