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Ugur Gold Deposit - JORC Resource and Reserves
Ugur Gold Deposit - JORC Resource and Reserves.
About this update from Anglo Asian Mining Plc
[{"type":"text","content":"\n \nRNS Number : 8283N Anglo Asian Mining PLC 14 August 2017 \n\nAnglo Asian Mining plc / Ticker: AAZ / Index: AIM / Sector: Mining\n \n14 August 2017\nAnglo Asian Mining plc\nUgur Gold Deposit - JORC Mineral Resource and Reserves\n \nAnglo Asian Mining plc (\"Anglo Asian\" or \"the Company\"), the AIM listed gold, copper and silver producer, is pleased to announce the Mineral Resource and Mineral Reserves estimated in accordance with the JORC (2012) code for the Ugur gold deposit (\"Ugur\") located at the Company's Gedabek licence area (\"Gedabek\") in Western Azerbaijan. The resource estimate, which has exceeded the Company's initial expectations, will provide significant upside to the current production from Gedabek. Ugur is on track to commence production in September 2017.\n \nUgur JORC (2012) Mineral Resource and Reserves\n \n· Total Mineral Resource of 199,000 ounces of gold and 1,049,000 ounces of silver\n· Measured plus Indicated Mineral Resource of 172,000 ounces of gold and 884,000 ounces of silver\n· Proven plus Probable Reserves of 147,000 ounces of gold and 808,000 ounces of silver\n \nDevelopment Update\n \n· Road between the Ugur deposit and the Company's processing facilities is complete\n· Top soil pre-strip and storage commenced late July 2017\n· Condemnation drilling completed for final siting of surface infrastructure\n· Mining and haulage of ore to the processing facility stockpile planned to commence before end August 2017\n· Commencement of processing ahead of schedule with first production planned in September 2017\n \nAnglo Asian CEO, Reza Vaziri, said \"I am very pleased that the JORC total mineral resource estimate for Ugur of 199,000 ounces of gold is in excess of our initial estimates of 195,000. This mineral resource is a valuable addition to our mineral resources at Gedabek. The mineral reserves of 147,000 ounces of gold, or over 70 per cent. of the total mineral resource, is also highly encouraging. Development work is continuing well and I look forward to reporting the first production of gold from the Ugur deposit which is targeted for next month.\" \n \nAnglo Asian Group Director of Geology & Min...