Drill results increase mineralisation at Gilar
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Anglo Asian Mining PLC ("Anglo Asian" or the "Company"), the AIM listed gold, copper and silver producer focused in Azerbaijan, is pleased to announce that further drill results at the Gilar deposit confirm an extension to the mineralisation reported by previous drilling, with intercepts of up to 21 metres of continuous gold and copper mineralisation.
The drilling has extended the Gilar deeper zone of continuous mineralisation hosting significant gold, copper and zinc with an intercept thickness of over 20 metres. Two step-out drill holes also confirm the potential of the extension of the mineralisation. Given the depth of the mineralisation, the Company will continue further drilling from underground.
The Company is tunnelling for the main decline to access the mineralisation and a ventilation tunnel which is also being constructed. An area for a rock storage dump has now been identified, and the layout for the haul road from the mine to the processing plant has been designed. Construction of a temporary heavy earthworks' equipment workshop is due to commence at the portal area. The portal pushback area has been fully supported with geotechnical wire mesh and shotcrete. A boundary fence, lighting and auxiliary equipment including compressor and generator have also been installed.
Anglo Asian is also preparing a Joint Ore Reserves Committee ("JORC") Mineral Resource Estimate ("MRE") for the Gilar deposit. A site visit by the Company's independent geological consultants, Mining Plus UK, was completed in September as part of the required due diligence process. The maiden JORC MRE for the Gilar deposit is planned to be released in November. The Gilar mine is expected to commence production in H1 2024.
Stephen Westhead, Vice-President of Anglo Asian, commented:
"The drilling results have further confirmed the extension potential of the deeper mineralisation, which will form an important component of the upcoming JORC report and prove once again the significance of the Gilar deposit. We look forward to continuing to develop the Gilar deposit, culminating in first production in H1 2024. The Gilar mine will be an important contributor to the future production of the Company given the high grades of both gold and copper."
Figure 1: 3-D section showing latest drill holes
Figure 2: Map showing location of drill holes
Figure 3: Portal of the haulage decline tunnel of the Gilar underground mine
Details about the drilling at Gilar
Table 1: Selected assay results from new drill holes in the Gilar deposit are as follows:
| Intercepts | Weighted average grades | |||||
|---|---|---|---|---|---|---|
| Borehole | Depth | Depth | Downhole | Gold | Copper | Zinc |
| i.d. | From | to | length | |||
| (@ x g/t Au cut-off) | Metres | Metres | Metres | g/t | Per cent. | Per cent. |
| 23GLDD141 | 324.00 | 345.55 | 21.55 | 0.52 | 0.08 | 0.01 |
| including @ 0.5 Au | 325.10 | 6.90 | 0.81 | 0.13 | 0.01 | |
| including @ 1.0 Au | 342.00 | 3.10 | 1.12 | 0.06 | 0.01 | |
| 23GLDD142 | No intersection | |||||
| 23GLDD143 | No intersection | |||||
| 23GLDD144 | 357.00 | 377.00 | 20.00 | 1.31 | 0.51 | 0.50 |
| including @ 1.0 Au | 362.00 | 14.00 | 1.75 | 0.63 | 0.69 | |
| including @ 2.0 Au | 360.00 | 3.00 | 4.59 | 2.03 | 0.24 | |
| 23GLDD145 | 305.00 | 308.70 | 3.70 | 1.31 | 0.03 | 0.01 |
| 23GLDD145 | 359.00 | 379.00 | 20.00 | 0.57 | 0.10 | 0.01 |
| including @ 2.0 Au | 374.50 | 3.50 | 2.13 | 0.36 | 0.01 | |
| 23GLDD146 | 317.00 | 329.00 | 12.00 | 0.77 | 0.46 | 0.23 |
| including @ 1.5 Au | 320.00 | 3.40 | 2.00 | 1.12 | 0.78 | |
| 23GLDD146 | 343.30 | 350.00 | 6.70 | 0.22 | 0.15 | 0.03 |
| including @ 0.3 Au | 347.00 | 3.00 | 0.35 | 0.21 | 0.06 | |
| 23GLDD146 | 358.70 | 368.00 | 9.30 | 0.35 | 0.11 | 1.58 |
| including @ 0.3 Au | 360.30 | 7.70 | 0.38 | 0.13 | 1.84 | |
| including @ 0.4 Au | 363.80 | 4.20 | 0.42 | 0.17 | 2.64 | |
| 23GLDD146 | 388.00 | 391.90 | 3.90 | 0.24 | 0.21 | 0.01 |
Notes:
- Main intercepts are reported at 0.1 grammes per tonne gold cut-off.
- Maximum internal waste of 5 metres and minimum intercepts of 3 metres
- True thickness of mineralised intercepts is underdetermined.
About Gilar
Gilar is a mineral occurrence located in the Gedabek contract area approximately seven kilometres from the Company's existing processing facilities. The area hosts two styles of mineralisation, gold in quartz veins and hydrothermal gold-copper.
On 21 March 2023, the Company published a non-JORC mineral resource estimate which contains over 249,000 ounces of gold, 46,000 tonnes of copper, and 48,000 tonnes of zinc (see table 2 below).
| Tonnes (Mt) | Gold (g/t) | Copper (%) | Zinc (%) | Gold (Oz) | Copper (T) | Zinc (T) | |
|---|---|---|---|---|---|---|---|
| Class 1+2 | 3.93 | 1.53 | 0.93 | 0.94 | 192,929 | 36,687 | 37,009 |
| Class 3 | 1.71 | 1.02 | 0.57 | 0.69 | 56,155 | 9,778 | 11,777 |
| Total | 5.64 | 1.37 | 0.82 | 0.87 | 249,083 | 46,466 | 48,786 |
Table 2: Interim mineral resource estimate of the Gilar deposit
Notes:
- Cut-off grade 0.5 Au eq / Au eq = Au g/t + (Cu% x 1.49) + (Zn x 0.46) + (Ag x 0.01) + (Pb x 0.37)..
- Class 1, 2 and 3 are equivalent to the JORC classifications of measured, indicated and inferred, respectively
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