Anglo Asian Mining announces precious metal reserves at Azerbaijan’s Zafar deposit

Anglo Asian Mining PLC, the AIM-listed (Alternative Investment Market) gold, copper, and silver producer, has announced the preliminary amount of precious metals for the new Zafar field in Azerbaijan's Gadabay district.

The mentioned underground mine contains 28,000 tons of copper, 73,000 ounces of gold, and 36,000 tons of zinc.

"The design is developed on ore production of 700,000 tons per year (the volume is based on the official code for reporting exploration results, mineral resources and ore reserves – JORC Code). Construction has started on the two portals, which are roughly 850 meters away from the company's existing processing facilities and nearly 1,000 meters away from the mineralization. In addition, earthwork for the twin portals, power and compressor sites, as well as an area for equipment, have been completed. In addition, the company is making efforts to establish a mine office, workshop, and heavy equipment maintenance facilities," the company said.

Previously, the company said that the Gilar deposit contains over 135,000 ounces of gold, 21,500 tons of copper, and 23,000 tons of zinc.

Anglo Asian Mining plans to put into operation Garadagh, Kharkhar, and Damirli fields. The company has already commenced the exploration of the Vezhnali gold deposit in the Zangilan district.

Anglo Asian mainly exports gold bars produced in Azerbaijan to Switzerland. Meanwhile, copper is exported to Georgia, Uzbekistan, and Türkiye.