Anglo Asian Mining PLC (LON:AAZ) said it has made a new copper-gold discovery at Zafer, within the central region of its Gedabek Contract Area in western Azerbaijan.
This discovery resulted from a regional exploration field mapping programme following the identification of structural trends by the ZTEM geophysics programme.
Zafer is situated approximately 1.5 kilometres northwest of the Gedabek processing plant.
Work to date has included a significant drill hole intersection of copper-gold mineralisation at 113 metres grading 0.5% copper and 0.7 grammes per tonne gold.
“We are delighted to report the discovery of Zafer, an exciting mineral occurrence within the Gedabek contract area,” said Reza Vaziri, chief executive of Anglo Asian in a statement.
“This discovery demonstrates our belief in the on-going potential of the Gedabek contract area and the effectiveness of our geological exploration programme. The company is undertaking the work necessary to produce JORC estimates for the new discovery and to determine the best way to commercially exploit the mineral occurrence.”