The company said that the exploration period relating to the Ordubad contract area will now continue until April 2012.
Additionally, the government has accepted the company’s notice of discovery related to the Gosha contract area, submitted in February 2011.
The company expects that at least one of the mineralized zones discovered on the license; Zone 13, has the potential to host a resource that may be amenable to narrow vein, underground mining.
Zone 13 is one of at least nine mineralized zones that have been identified on the Gosha property, which are currently being explored.
The company now has six months to produce a development and production program for Gosha having received notification from the government that the notice of discovery for the project has been accepted.
Anglo Asian CEO Reza Vaziri said that increasing the company’s total resource through exploration programs across its 1,962sq km gold/copper portfolio remains a key focus for the company.
