Anglo Asian Mining PLC Access to Vejnaly (3480U)
02 December 2021 - 6:00PM
UK Regulatory
TIDMAAZ
RNS Number : 3480U
Anglo Asian Mining PLC
02 December 2021
Anglo Asian Mining plc / Ticker: AAZ / Index: AIM / Sector:
Mining
2 December 2021
Anglo Asian Mining plc
Permission Granted to access the Zangilan district of
Azerbaijan
Reza Vaziri and Senior Management to visit the Zangilan district
in early December to assess the Company's Mining Properties and
other assets in the Vejnaly contract area
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 the Government of Azerbaijan has now
granted Company employees access to the Zangilan district. Members
of the Company's senior management including Reza Vaziri, Chief
Executive Officer and President, will travel to Zangilan in early
December to assess its Vejnaly contract area, including the
existing mines at the site. Work to be carried during the
assessment includes the following:
-- The existing stockpiles will be surveyed and geological samples collected for analysis;
-- Those adit entrances to the underground mine which are
currently accessible will be surveyed, and GPS mapping of their
locations will be carried out;
-- The existing camp facilities will be inspected to determine
the level of refurbishments and other works required to enable
employees to be based in the contract area; and
-- Conditions permitting, an inspection of the underground mine is also planned.
This assessment is the first stage in the development of the
asset. The Company hopes to begin exploration and processing of ore
from Vejnaly in the near future and looks forward to updating
shareholders following completion of the assessment.
The Government of Azerbaijan is undertaking rapid economic and
infrastructure development of the Zangilan district following the
end of the conflict with Armenia. Construction of an international
airport is underway, which is due for completion in 2022 and an
electrical substation has recently been opened in the district.
The Vejnaly contract area comprises approximately 300 square
kilometres situated in the Zangilan district in South Western
Azerbaijan. It contains the Vejnaly deposit which has been subject
to prior mining during the Armenian occupation.
**ENDS**
For further information please contact:
Reza Vaziri Anglo Asian Mining plc Tel: +994 12 596 3350
Tel: +994 502 910
Bill Morgan Anglo Asian Mining plc 400
--------------------------- ----------------------
Tel: +994 502 916
Stephen Westhead Anglo Asian Mining plc 894
--------------------------- ----------------------
Ewan Leggat SP Angel Corporate Finance Tel: +44 (0) 20 3470
LLP 0470
Nominated Adviser and
Broker
--------------------------- ----------------------
Adam Cowl SP Angel Corporate Finance Tel + 44 (0) 20 3470
LLP 0470
Nominated Adviser and
Broker
--------------------------- ----------------------
Charlie Jack Hudson Sandler Tel: +44(0) 20 7796
4133
--------------------------- ----------------------
Elfie Kent Hudson Sandler Tel: +44(0) 20 7796
4133
--------------------------- ----------------------
Notes to editors:
Anglo Asian Mining plc (AIM:AAZ) is a gold, copper and silver
producer in Central Asia with a broad portfolio of production and
exploration assets in Azerbaijan. The Company produced 67,249 gold
equivalent ounces ("GEOs") for the year ended 31 December 2020. The
Company has a production target for the year to 31 December 2021 of
48,000 ounces to 54,000 ounces of gold and 2,500 tonnes to 2,800
tonnes of copper. This total production target expressed as gold
equivalent ounces ("GEOs") at budgeted prices is between 64,000
GEOs and 72,000 GEOs.
The Company has recently announced a transaction with the
Government of Azerbaijan which grants it three additional
concessions with a combined area of 882 square kilometers which
include the Garadagh porphyry copper deposit with a Soviet
classified resource of over 300,000 tonnes of copper. The
transaction is subject to ratification by the parliament of
Azerbaijan.
https://www.angloasianmining.com/
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