Gold, copper and silver producer Anglo Asian Mining PLC is planning a three-year exploration program at its Gedabek, Gosha and Ordubad contract areas in Azerbaijan. Exploration will include drilling and an airborne geophysical survey.
The Gedabek property hosts the open pit Gedabek and Ugur mines and the underground Gadir mine, while the Gosha property is 50 kilometers away, the company noted in its March 13 release.
The company will explore near-mine, brownfields and greenfields areas in a bid to replace mining depletion, increase resources and extend the life of the operations to at least 10 years.
Anglo Asian expects the 2018 portion of the program to cost approximately US$6 million, which it will fund from internal cash flow, with plans to purchase one reverse circulation drill rig and two diamond drill rigs.
Surface and underground drilling in 2018 is expected to total about 43,500 meters, comprising 12,000 meters of reverse circulation, 17,500 meters of surface diamond drilling and 14,000 meters of underground diamond drilling.
