REG - Anglo Asian Mining - Access to Vejnaly

Anglo Asian MiningAnnouncement

02/12/2021 07:00

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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
 Bill Morgan       Anglo Asian Mining plc          Tel: +994 502 910 400
 Stephen Westhead  Anglo Asian Mining plc          Tel: +994 502 916 894
 Ewan Leggat       SP Angel Corporate Finance LLP  Tel: +44 (0) 20 3470 0470

                   Nominated Adviser and Broker
 Adam Cowl         SP Angel Corporate Finance LLP  Tel + 44 (0) 20 3470 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/ (https://www.angloasianmining.com/)

 

 

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