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Anglo Asian Mining PLC

Anglo Asian Mining to kick off further drilling at Gedabek later this month

A recent airborne survey identified 31 potential targets, and Anglo Asian is now working out which of those it should prioritise in this next round of exploration

drill rig
The drill rigs are being moved into place at Gedabek

Anglo Asian Mining PLC (LON:AAZ) expects to begin further exploration work at its Gedabek gold project in Azerbaijan within the next couple of weeks.

The field team is still poring over the results from the recent airborne geophysics survey, which identified 31 “highly promising and prospective mineral targets” at the project.

WATCH: Anglo Asian in an 'enviable position'

Of those, 25 have been classified as favourable for epithermal- and porphyry-style mineralisation, whilst the remaining 6 magnetic targets display signatures consistent with porphyry systems.

Anglo Asian is now analysing the results further and ranking the targets in order of prospectivity.

The company has been prioritising targets that are nearer to surface and which have the potential to be brought into production quicker than the deeper targets.

Once the ranking is complete, which should be “imminently”, the favourable regions will be followed up by field visits to assess conditions for further exploration, with Anglo Asian bosses looking to start further drilling later this month to test the targets.

Anglo Asian shares were up 5% to 116.6p in mid-morning trading on Tuesday.

Quick facts: Anglo Asian Mining PLC

Price: £1.63

Market: AIM
Market Cap: £185.89 m
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