TODAY.AZ / Business

Anglo Asian Mining's encouraging results at Gedabek

04 June 2006 [17:47] - TODAY.AZ
Press release by Anglo Asian Mining PLC.

Anglo Asian Mining PLC (AIM: AAZ) is pleased to announce that drilling at its Gedabek copper/gold prospect in Azerbaijan is progressing well and on plan.

To date 19 diamond drill holes and 12 reverse circulation holes (RC) have been drilled on an 80 metre grid. The holes completed and available assays indicate the presence of significant copper and gold mineralisation at Gedabek. Assay results received to date are summarised in the table attached. A gold equivalent cut-off grade of 0.50 grams per tonne (g/t) was used to define the intervals. Gold equivalent conversion is based on a ratio of 1g/t gold to 60 g/t silver and 1% copper to 2.3g/t gold.

The Company plans to complete further infill and boundary drilling to supplement the current 80 metre spacing. The current evaluation programme includes a further 22 drill-holes, making a total of 53 holes, and is expected to be complete by the end of August 2006. Completion of this drill programme and receipt of the assay data will allow Anglo Asian and their consultants SRK Consulting to develop a resource estimate for Gedabek.

The Directors will continue to monitor the drilling results. When sufficient data becomes available to make a reliable assessment of the resource, a further announcement will be made.

URL: http://www.today.az/news/business/26892.html

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