Anglo-Asian Mining discovers new Azeri gold reserves near Gabaday

18/10/2016

Gadabay Gold MineThe Anglo-Asian Mining company has announced that it has discovered new gold reserves near its existing deposits of gold, copper, and silver at Gadabay in western Azerbaijan. Preliminary tests indicated an average recovery of gold of 87% in the new Ugur reserve and that the gold is located around 360 meters below ground level,
The company’s Director of Geology Stephen Westhead described the discovery as “very exciting”, given its close proximity to the processing facilities at Gabaday and the drill and metallurgical testwork results.”We look forward to continuing exploration work with a view to enlarging our gold and copper resources and reserves for extending or increasing mine production.”
Anglo-Asian Mining CEO Reza VaziriCEO Reza Vaziri was equally bullish.“Having recently returned to profitability, and following the completion of several operational initiatives to improve efficiencies and lower costs at Gadabay, I believe Anglo Asian is now well positioned to expand its mineable reserves which will lay the foundations for long term and sustainable production from multiple deposits at Gadabay.”
Anglo-Asia Mining started gold and silver production in May 2009 and copper concentrate production in 2010 at Gadabay and has the rights to develop a further five deposits in the west of the country.
The gold and silver extracted from its Azeri mines are sent to Switzerland for refining, and gold bars are then sent back to the government in Baku. 

Source: Azernews