Anglo Asian Mining Share Discussion Threads

[2sporrans] 06/8/2020 07:49

sorry...

just seen that this didn't get pasted wrt to the H2 plan summary i posted above:

"Drilling activity will be intensified over Avshancli 2 and 3 and Gilar areas. The
current exploration areas have been prioritised to those which can be fast
tracked into production, so to maximise the potential to add to the company
production profile."

Don't want to miss that out for sure!!

Note the reference to Avshancli 2 and 3.
That's a surprise as the May strategic report established that
Avs 1 is the primary gold target, with A3 as the 'follow up' copper/gold prospect.
There was no mention of A2 back then.

Surely A1 is still the firstmost priority for production but good to see A2 is
still in the game.
Must get into the detail.

[riggerbeautz] 06/8/2020 07:49

Too much to digest straight away but they are all over Gedabek, they have been very busy.

[jbravo2] 06/8/2020 07:48

"Drilling by both core drilling and reverse circulation method continues at pace at the Avshancli cluster of deposits and at the Gilar deposit. These areas are being given high priority due to their near surface gold content in order assess the potential for fast- tracking a new mine."Pretty sure we'll see this open in under a year

[jbravo2] 06/8/2020 07:45

Gedabek report.Pg 65Shows the location of the new U/G portal for Gedabek. They're coming at it from completely the other side of the mountain. Not sure I ever videoed behind us as we were stood on the back wall. Will have a check.That's some impressive going

[2sporrans] 06/8/2020 07:42

Glad they've confirmed that Ugur is at end of life; the first clarification
of what we've suspected here:

" Ugur open pit

The Ugur deposit is nearly mined out with some 200,000 tonnes of resources at 0.9 grammes per tonne gold remaining, which will be scheduled for removal during H2 2020. Planning for the mine closure following exhaustion is on-going. "

[qazwsxedc69] 06/8/2020 07:42

Maybe. But the idiots are starting to pop up on these threads. Whether intended or not (obviously not) it read to the casual observer that BAD news had just been released when clearly it hadn't. I get his point about news and the SP, but now isn't the time or place for such a flippant comment.

[gold finger 1] 06/8/2020 07:41

I can't say i understand these kind of reports.
So i won't comment.
I just hope they have come at the right time to push us through the all all time high and into blue sky.

[jbravo2] 06/8/2020 07:40

That's an awful lot of reading to do!

[danbatsb1] 06/8/2020 07:37

Baz why havent you read all of the huge reports already? Call yourself an investor? ;-)

[wanobi] 06/8/2020 07:37

AAZ







The World Gold Council defines a high-quality underground mine as having a gold ore density between 8 and 10 g/t, while a low-quality underground mine has a gold ore density of 1 to 4 g/t.

"The copper and gold upside potential are significant, and the team look
forward to prioritising targets for resource evaluation to create
shareholder value from the Ordubad Contract Area.”

“The Gedabek area continues to deliver positive exploration
results and work is ongoing at each target area to piece together the geological
picture. Exploration of the near surface gold targets are taking priority with the
aim to rapidly develop mineral resources. The geology team continue to be
enthused by the results and the drive to develop mineral deposits for
production. "

I am very pleased with the progress under such adverse conditions and look to expand the work
programmes in H2 to deliver further positive progress on the development
towards new mines."

“The Gosha Contract Area continues to show upside potential for the
increase of the mineral resources for the Company. The drill results demonstrating
the presence of mineralisation adjacent to the current Gosha mine potentially
allows for the expansion of this mining operation in the future. Meanwhile the
Gosha mine continues to provide gold ore that can be processed at the Gedabek
processing facilities. Regionally the contract area shows several differing styles of
mineralisation including vein gold and polymetallic mineralisation as found at
Asrikchay. A reinterpretation of the electrical geophysics conducted at Asrikchay
will be used for drill hole positioning to target the polymetallic mineralisation. The
geology team look forward in H2 2020 to further the understanding of the mineral
potential of the Gosha Contract Area both in terms of near mine and greenfield
upside. As previously stated, exploration is considered to be early stage, but the
presence of a gold mine, surface gold mineralisation and mineralised drill
intersections all support further exploration and resource development.”

Cheers
Wan :-)

[bleepy] 06/8/2020 07:37

As far as page 16 and....

Just a quick scan of Gadir exploration drill data reveals consistently high grade Au across many holes, much higher than mined to date.


On with rest of report...

[bazboa] 06/8/2020 07:36

Wow people need to loosen up a little especially with all that's going on in the world! people getting annoyed by an off the cuff post is amazing.

[wanobi] 06/8/2020 07:33

LOL,,, indeed PoF,,, thanx, that now needs updating LOL,,, Cheers Wan :-)

[pantsonfire] 06/8/2020 07:30

Hey Wan, the last line in your intro (above) states "Why isn’t gold at $2,000 when global economy is melting?". Do you really think we're in for a fall?
Maybe we need a new article "why isn't gold at $3,000?"
Cheers!!

[2sporrans] 06/8/2020 07:30

I recommend reading the detailed H1 reports for each contract area
which are posted on the AAZ website - look inthe E&P sub-menu for each CA and
download the pdf doc.

From the Gedabek one:

While there hasn't been any development work for Gedabek U/G, beyond the tunneling,
a fair lot has been achieved for the Gadir down-dip extension:

"Tunnelling continues in Gadir UG and Gedabek UG to
provide sites for exploration and advance the underground exploration drilling plan"

Summary info:

"Main Results of the Exploration Programmes in H1 2020

The drilling results have yielded extensions to the Gadir UG mine. During
winter season a significant amount of data (WorldView-3® satellite data
included) has been collected in high-priority ZTEM targets for integrated
interpretation. In addition, exploration of the Ugur SE high-grade Cu-Ag
mineralised zone continues following further intersected good copper grades.
Intensive exploration activity was conducted in Avshancli and Gilar areas.
Surface sampling of these areas showed positive assays for Au and Cu that
increase ore potential. Drill hole 20GED03 which was drilled in the Zafer area
intercepted 194m of continuous sulphide mineralisation. This mineralised
zone is located between Gedabek OP and Ugur OP.


Outlook for Exploration in H2 2020

Exploration work is progressing well, according to the overall three-year
strategy. Work defining the lateral and down-dip definition at Gadir UG is
ongoing. Further evaluation and data reconnaissance of the high-priority ZTEM
targets is continuing. Due to the positive results from Ugur SE “deep” highgrade
Cu-Ag mineralisation, drilling work continues around this area with two
core drill rigs."

Looks like they've had a greater issue with very wet weather than the Covid restrictions.

Still, seems to be decent progress.
Yet to read the detail.
At least the Avshancli prospect looks to be emerging....in line with the
May strategic plan expectations and Gilar also.

I'm none the wiser as to why the switch to U/G mining under/adjacent the main pit
was made or exactly what has been developed down there.

[bazboa] 06/8/2020 07:26

Of course I haven't read it all. I was merely highlighting the fact that we had news as AAZ normally goes down on a news day.

[splint1] 06/8/2020 07:26

And that's just for one site

[danbatsb1] 06/8/2020 07:24

hxxps://wp-angloasianmining-2020.s3.eu-west-2.amazonaws.com/media/2020/08/05145223/H1-2020-Exploration-Activities-Gedabek.pdf

hxxps://wp-angloasianmining-2020.s3.eu-west-2.amazonaws.com/media/2020/08/05145230/H1-2020-Exploration-Activities-Gosha.pdf

hxxps://wp-angloasianmining-2020.s3.eu-west-2.amazonaws.com/media/2020/08/05145157/H1-2020-Exploration-Activities-Ordubad.pdf

[qazwsxedc69] 06/8/2020 07:20

What a strange thing to say. You clearly haven't read it have you Bazboa? You made that comment at 7.05 and there is 91 pages of detailed drilling results to plough though!Highlights fall out of every page I've looked at so far.

[wanobi] 06/8/2020 07:19

Good morning Rb, Good morning all, Good luck, Good Health today to all, cheers Wan :-)

AAZ, AVCT,,, now where to start reading :-) LOL

[pantsonfire] 06/8/2020 07:17

Good morning all. Just a quick update for PXC. Hardman in their May research put a DCF value to the company based solely on the silver to be recovered from their Red Star starter project. They stated that that the company value should increase by an equivalent 6.2p/share for every $1 increase in silver over $19.0/oz. Calculating out, that means that the share price should today be at 85.6p/share, in place of the present 37.5p. I'm going to publish this number on a daily basis on their thread.

The above valuation excludes the deposits of gold in Empire, Navarre, the copper, and the cobalt properties, plus that the company has drill analyses coming back shortly from Red Star which may see another re-rate.

The company is expecting to see a complete reevaluation of it's resources through the autumn with the expanded (and fully funded) drill programme, so it's only a matter of time before this takes off, in my opinion.

Hope you all have a great day... I'm off to Wales for a few days of fresh air and Brains.

[bazboa] 06/8/2020 07:13

We have news, normally goes down on news day :)

[pogue] 06/8/2020 07:12

A new manufacturing partner for AVCT, wrong RNS for my competition entry but at least I got one :0)



AAZ have an RNS too though....


H1 2020 Geological Exploration Activities
Gedabek, Gosha and Ordubad Contract Areas
Anglo Asian Mining PLC ("Anglo Asian" or the "Company"), the AIM listed gold, copper and silver producer focused in Azerbaijan, is pleased to provide a summary of its extensive and productive geological exploration activities from 1 January to 30 June 2020 ("H1 2020") at its Gedabek, Gosha and Ordubad Contract Areas. The work focused on the mineral deposit targets to progress exploration and resource definition in accordance with the strategic update released by the Company in May 2020.