The company has provided a summary of its geological exploration activities at the company’s Gedabek contract area (Gedabek) and Ordubad contract area (Ordubad) in the six months to 30 June 2018.

Exploration programme highlights:

  • Confirmation of further mineable copper and gold ores in the currently producing Gedabek open pit – updated resource and reserve estimate classified and reported in accordance with the JORC Code to extend the mine life of the open pit will be published by the end of September 2018
  • Increased confidence in the short to medium term production profile at the Gadir underground mine (“Gadir”) following confirmation of continuation of the Gadir ore-body down-dip and potentially along strike
  • Significant gold grades of over three ounces per tonne (93 grammes per tonne) intersected in drilling and confirmed by underground tunneling at Gadir
  • Numerous areas of high grade mineralisation adjacent to the current Gadir operation identified – a resource and reserve estimate for Gadir is expected in Q4 2018
  • Additional mineralisation beneath the Gedabek open pit confirmed which will be the subject of further underground evaluation accessed by tunnels developed from the Gadir mine
  • Extensive alteration zones of porphyry style previously discovered at Ordubad with confirmation of copper and gold mineralisation, are the subject of an extensive geochemical sampling programme

Objectives of the exploration programme in H1 2018

The geological programme in H1 2018 formed part of an expanded rolling three-year exploration plan, and was designed to achieve the following main objectives:

  • To better establish the gold and copper-gold distribution of the Gedabek main open pit, with the aim of updating the resource and reserve estimate
  • To assess the extent of the mineralisation potential of the Gadir underground mine and confirm ongoing mineable potential through the publication of a resource and reserve estimate in accordance with the JORC Code by the end of 2018
  • To commence exploration of the mineral potential below the Gedabek main open pit from underground
  • To commence evaluation of the opportunity for copper development at Ordubad and improve the understanding of how deposits of the area link together according to ore genesis
  • To provide additional mineralisation to extend the current life of mine as the exploration findings underpins the opportunity of defining future mineable products
  • To identify potential new areas of mineralisation and drill targets with the potential to fast track towards production as a standalone mining operation

Overview of exploration activity in H1 2018

Extensive drilling and other exploration works were carried out at mine and near mine targets mainly at Gedabek as follows

  • 42 surface core drill-holes completed totalling 8,505 metres
  • 111 reverse circulation drill-holes completed totalling 6,087 metres
  • 14 underground HQ/NQ size underground core drill-holes completed totalling 1,345 metres
  • An additional 58 underground BQ size underground core drill-holes totalling 1,399 metres and 5,618 metres of surface reverse circulation grade control drilling

Source: Company Press Release