Anglo Asian upbeat on latest Gilar drill results
By Josh White
Date: Thursday 08 Dec 2022
(Sharecast News) - Azerbaijan-focussed gold, copper and silver producer Anglo Asian Mining announced drill results from the Gilar deposit on Thursday, confirming more than 60 metres of "thick and continuous" gold and copper mineralisation.
The AIM-traded firm said the results came from the final stage of the first phase of vertical core drilling at Gilar.
It said the drilling demarcated six zones of mineralisation, with the latest drilling defining a deeper zone of continuous mineralisation hosting significant gold, copper and zinc values.
Given the continuity and grade of the latest drillhole mineral intercepts, as well as the depth of the mineral zone, a project for underground access with a tunnel suitable for production as well as additional exploration was being planned.
It said borehole 22GLDD118 returned 67 metres at 2.02 grams of gold per tonne, 1.58% copper and 1.58% zinc from 327 metres, including 51 metres at 2.54 grams of gold per tonne, 2% copper and 2.1% zinc at a one gram per tonne gold cut-off from 335 metres, including at a two gram per tonne gold cut-off.
The hole also reported 17.8 metres at 4.31 grams of gold per tonne, 3.14% copper and 2.25% zinc from 335.7 metres, and 10.5 metres at 2.21 grams of gold per tonne, 0.41% copper and 0.13% zinc from 375.5 metres.
"The extensive mineral zone thickness, continuity and grade of the recent drill intersections mean that Gilar can now be considered of high potential to provide significant gold and copper production," said the company's vice-president Stephen Westhead.
"We are currently in the process of planning our approach to gaining underground access for exploration and drilling, and I look forward to updating you on our progress in the coming weeks."
At 1438 GMT, shares in Anglo Asian Mining were down 0.69% at 86.4p.
Reporting by Josh White for Sharecast.com.
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