Anglo Asian Mining Share Discussion Threads

[stevea171] 01/3/2021 09:06

Zafer
Based on the work in 2020, a preliminary estimate of the deposit size is about six million tonnes of mineralised rock.

Zafer is a new discovery which was announced 19 January 2021. Zafer was defined by Anglo Asian's in-house exploration group and is a new mineral occurrence approximately 1.5 km north-west of the Company's Gedabek processing facilities. The mineralisation was identified by geological exploration follow-up of field mapping between ZTEM targets. Geological, structural and alteration mapping was used to target the initial drilling, which commenced in August 2020. A series of drill holes demonstrated that the geology progressively moved from altered rock into weakly mineralised rocks and finally into the zone of significant mineralisation.

Once the scale of the mineralisation was understood, ground-based IP and resistivity electrical geophysics was employed to define the potential extent of the mineralisation. In total, 10 profile lines covering an overall length of nearly 25 km were completed. The 2-D and 3-D interpretations resulted in the identification of a number of "hot spot" anomalies that are being followed up with further drilling.

The geology of the area is structurally complex, comprising mainly of Upper Bajocian-aged volcanics. The mineralisation seems to be associated with a main northwest-southeast trending structure, which is interpreted as post-dating smaller northeast-southwest structures. In the southwest area, outcrops with tourmaline have been mapped, which can be indicative of the potential for porphyry-style mineral formation. The exploration area is located along the regional Gedabek-Shekarbek fault system, with Shekarbek being another target area known to host copper mineralisation, situated in the northwest of the zone.

In 2020, 12 drill holes were completed totalling 7,675 metres.
The drill results are summarised in the linked report.
The deposit is currently being drilled with three core drill machines and further geophysical work will be carried out if required.

Sampling for a mineralogical study is also underway to assess the textural relations between the metallic minerals and gangue mineralogy. This will be used to assess the associations between the copper and gold mineralisation (grain size and liberation characteristics), which will be used to determine the grind sizes and processing options.

[michaelfenton] 01/3/2021 09:04

Yep well the copter. I hope the pilot agree to fee in shares?

[mattjos] 01/3/2021 08:51

Good grief, Zafer is going to be humongous. & to think we've been driving over/past it ever since we found Ugur.That ZTEM heli survey was a terrific investment

[2sporrans] 01/3/2021 08:45

The newly revealed resource for Gadir in darker gold; the Gedabek....well it's all
new ain't it. Looks like access design will minimise interruptions to production by
further development drilling.

[2sporrans] 01/3/2021 08:25

This is really helpful to see what has been achieved with Gedabek U/G so far + the potential ways forward for the twin U/G mines, Gadir/Ged. ....eventually with
contiguous reserve we hope:

[jbravo2] 01/3/2021 08:24

Well clearly the vast majority of it was katsy.
Do you think he wrote it all on Sunday night? ;)

[katsy] 01/3/2021 08:23

So does that mean all this news was ready on or before the 25th last week.

[thomas11] 01/3/2021 08:13

Emmm —— this is in the RNS today, come on let’s have an amending RNS, this is just sloppy work


It has announced that it is negotiating a joint venture with Conroy Gold and Natural resources PLC to explore and develop various gold properties in The Republic of Ireland and Northern Ireland.

[joe say] 01/3/2021 08:11

All of which shows the insignificance of last weeks news ex Ireland

[2sporrans] 01/3/2021 08:09

Anglo Asian Director of Geology and Mining, Dr. Stephen Westhead,
commented [nOTE THE expanded Geo team]:

“The new discovery of the copper-gold Zafer deposit, the
copper mineralisation defined adjacent to the Ugur open pit, and the positive
exploration results from Avshancli-1 and Gilar demonstrate the extensive
mineral endowment that are planned to add to future production. These
targets will form part of the ongoing drilling programmes into 2021 and
provide a positive platform for further developing the resources of the
region. The distribution and concentration of mineralisation at these sites
suggest that extraction through new mines is possible. In addition to the
continuing deposit exploration, it is planned for 2021 to carry out further
satellite interpretation over the Gedabek area, to continue with ground
geophysics to assess extensions of known deposits, as well as undertaking a
large stream sediment geochemical programme. The recently expanded
geology team look forward to increasing the Company gold and copper
mineral resources with the aim to convert to reserves.”

[avsome1968] 01/3/2021 08:03

My annual choice Cora starting to kick things of said they wouldn't be much action till after first quarter.

at Sanankoro and Drill Contract

Awarded

Cora Gold Limited, the West African focused gold company, is pleased to announce the commencement of a significant drill campaign at its flagship Sanankoro Gold Project ('Sanankoro' or 'Project') in southern Mali.

Highlights:

-- 22,000m initial contract awarded to Capital Drilling Mali SARL ('Capital'), a subsidiary of Capital Limited (LSE: CAPD), for reverse circulation ('RC') and diamond core ('DC') drilling

o Expectation to drill up to 35,000m by end of July 2021

o Capital has an excellent track record of delivering quality drill programmes in West Africa

-- Drilling dual focussed on targeting resource growth as well as infill drilling to convert existing Inferred resources to Indicated

-- Rigs arriving at site and drilling due to start within the coming days
-- During 2019 and 2020 the Company drilled c.18,000m on the Sanankoro permit - this 2021 campaign represents a very significant programme at Cora's flagship asset

-- Drilling expected to be concluded during July 2021 and an updated resource statement will follow this programme

-- Circa US$3.7m cash in the bank funds this drill programme
To view the RNS with illustrative maps and diagrams please use the following link:



Bert Monro, CEO of Cora, commented, "This drill programme will be the largest single programme that Cora has ever completed. If expanded to 35,000m it will represent an almost doubling of the drilling on the Sanankoro permit over the previous two years. This is an extremely exciting time for the Company and all the team are fully focussed on delivering this programme. We look forward to updating shareholders with drill results as we start to receive them.

"During 2020 the Company published a Scoping Study on the Project showing a 107% internal rate of return ('IRR') and US$24m/year annual free cashflow at a US$1,500 gold price. The Company looks forward to this drilling programme both increasing the size of our resources but also increasing their confidence as we aim for maiden Indicated resources."

[avsome1968] 01/3/2021 07:59

Morning all /// Sorry i was a bit late O//D with choices


Alien Metals Ltd (LSE AIM:UFO), a minerals exploration and development company, is pleased to announce that the first drill hole of the maiden drilling program at the Donovan 2 copper gold project in Mexico started on Thursday, 25 February 2021, funded and managed by Capstone Mining Corp (Capstone) as per the Earn-in Agreement signed last year.

Highlights

-- Alien have been advised by Capstone that the first exploration drill hole was started on Thursday, 25 February 2021, ahead of schedule, at the Donovan 2 copper gold project in Mexico.

-- The initial hole DON21-001 is to target previous Alien sampling work undertaken in an old water well which returned up to 3.3% Copper coincident with an IP geophysical anomaly

-- 2,500m maiden drilling program underway
Figure 1: Location of Donovan 2 Project, Mexico, March 2021

Pursuant to the terms of the Earn-in Agreement, Capstone can acquire a 65% interest in Donovan 2 through committed expenditure and cash payments totalling US$3.9million. Capstone can move to an 80% interest in the Project through free-carrying Alien to completion of a prefeasibility study.

The core of the work carried out by Capstone in late-2020 was to complete a detailed close spaced surface induced Polarisation (IP) geophysical survey across the majority of the tenement, as announced by Alien on 13 November 2020, to both add infill detail to the northern anomaly already defined by Alien and as an extension to historic geophysical work undertaken by the Company. This work was successfully completed in December 2020, with the final reporting and interpretation now being completed leading to the start of this maiden drilling program.

Capstone have indicated that they have planned an initial 2,500m drilling program as part of their required $450,000 USD expenditure commitment for 2021.

Drilling will initially test the Los Alomos target in the water well area, located in the northeast central area of the tenement and then move to the Cerro de la Cruz target located in the northwest area of the tenement.

Drill planning was supported by the recent report submitted to Capstone following the Ground IP survey carried out at the end of 2020, by Condor Consulting, Inc., Lakewood, Colorado, USA, and historical exploration carried out by Alien.

Figure 2 below shows provisional hole locations over a chargeability map at 150m below surface generated from the recent IP survey carried out by Capstone. Capstone has advised that these holes are ready to be drilled with an amended drilling permit already in place.

Capstone has provisionally planned 2,500m for this maiden program using Ecodrill drill contractors with a Hydracore trailer mounted diamond core drill rig capable of 350m HQ size depth of drilling.

Figure 2: Location of provisional drill holes over Chargeability -150m depth, Donovan 2, February 2021

Figure 3: Ecodrill Hydracore Diamond Drill rig, Donovan 2, February 2021

Figure 4: View of location of hole DON21-001, Donovan 2, February 2021

Bill Brodie Good, CEO & Technical Director of Alien Metals, commented:

"It is very exciting that Capstone is already drilling the first hole at Donovan 2 in such a short timeframe. Both parties are very encouraged by the results of the recent IP survey and the reprocessing and interpretation of all the historic data collected by Alien. We now have three geophysical targets including the Los Alomos project. With the copper price at its highest for over nine years and continued demand, this positive news is very well timed and we are excited to see the results. We are delighted to have Capstone as a partner to drive this project forward and develop it with a great technical team. We look forward to updating the market as the drilling progresses and watching this project grow quickly into a significant entity."

[2sporrans] 01/3/2021 07:45

"Outlook for Exploration in H1 2021

Work defining the lateral and down-dip definition at Gedabek UG is ongoing.

Further evaluation and data reconnaissance of the high-priority ZTEM targets
is continuing.

Due to the positive results from Zafer “deep” high-grade Cu-Au-
Ag-Zn mineralisation, drilling work will continue around this area.

Drilling activity will also commence over Avshancli and Gilar areas.

The current exploration areas have been prioritised to those which can be FAST TRACKED into production, maximising the potential to increase the company production
profile.

[jeanesy] 01/3/2021 07:44

Also nice to see POG and silver having a bit of a rebound this morning too :)

[laurence llewelyn binliner] 01/3/2021 07:43

Zafer - indicative of porphyry style mineralisation - 6M tonne estimate, even at 1% Copper/Gold GEOs I need another column on my abacus after hitting USD1BN...

[wanobi] 01/3/2021 07:40

Good morning all, good health and the very best of luck to you all this week :-)

AAZ - RNS - cannot see why Mr market won't see this as a big tick, just depends if there are people out there who want to take profits & use the probable increase in liquidity today as to whether the share price goes up or down... :-).... I usually call these wrong so i won't even bother guessing LOL LOL :-)

Cheers
Wan :-)

[2sporrans] 01/3/2021 07:33

Link to Detailed report for Gedabek CA on website:

hxxps://wp-angloasianmining-2020.s3.eu-west-2.amazonaws.com/media/2021/03/01065511/H2-2020-Exploration-Activities-Gedabek.pdf

Guess another will follow on for Gosha - U/G extension[s].
Plenty good progress there.

[donald pond] 01/3/2021 07:29

Surely just a question of moving any kit still at Ugur and starting to dig. A defined, shallow, open resource with decent grades. And unusual to get news on a Monday, does give hope this may be a significant week.

[jeanesy] 01/3/2021 07:28

RNS out at AAZ . Lots to read. I dont have the time this morning sadly. All looks very promising .

[jbravo2] 01/3/2021 07:22

Avshancli 1 can only be weeks away now we’ve been told it’s going to be another free dig.

[bazboa] 01/3/2021 07:21

So much potential....shame it takes soooooooooooo long to tap into that.

[laurence llewelyn binliner] 01/3/2021 07:20

I think we are going to need a bigger Vault... 4/5/6% Copper... :o)

[2sporrans] 01/3/2021 07:19

Another Exploration report for the Geo enthusiasts.
Going to take several hours reading the detailed reports in order
to grasp how much has been achieved.

Clearly, further good grades for gold and copper been discovered in
both Gedabek and Gadir U/G mines + new extension for Gosha looking all the more
promising.
The new prospects continue to grow in potential.
Avshancli-1 looks an easy dig:
" The central zone [area of 200*300m] is free digging with the possibility of mining the area in the near future by open pit."
+ more good grades being found in the satellite deposits.

Zafar has already been reported on in January.

More on the other Avshanclis, Gilar, Ugur Deeps.
All adding to potential for development/production.

But will all this move the share price up?
Well, it can't do it any damage surely.

[jbravo2] 01/3/2021 07:14

Yep, loads of stuff (gold)
I think it’s going to be a busy week
:)