Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guidance and tools
Guidance and tools
Choosing investments Choosing accounts ISA calculator Retirement calculators
Shares
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
Anglo Asian unveils maiden Xarxar resource estimate
(Sharecast News) - Anglo Asian Mining announced a significant milestone on Tuesday, with the completion of its maiden JORC 2012 mineral resource estimate for the Xarxar copper deposit in Azerbaijan. The AIM-traded company said the mineral resource estimate for the deposit revealed 24.9 million tonnes of mineralisation with an average copper grade of 0.48%.
Within the measured plus indicated JORC categories, that included 22 million tonnes of mineralisation containing 106,000 tonnes of copper.
The total in-situ mineral resource for copper stood at 119,100 tonnes.
Anglo Asian said the estimate was based on data gathered from 66 drill holes, amounting to a cumulative length of 21,707 metres.
Notably, the exploration efforts also involved the excavation of a 470-metre exploration adit to facilitate underground drilling and sampling.
"The maiden JORC mineral resource estimate for the Xarxar deposit demonstrates that this is a substantial resource, containing over 100,000 tonnes of copper," said Anglo Asian vice-president Stephen Westhead.
"We are confident that the Xarxar mine will be a significant contributor to our future production, enabling the company to deliver future growth and attractive returns to shareholders.
"To further expand the current mineral resources estimate, work will include surface infill drilling to the east of the deposit, deposit geotechnical and hydrogeological drilling, and drilling to supply samples for further metallurgical testwork."
Westhead said additional core drill samples would also be subject to external quality assurance and control.
"This will enable mineral resources to be reclassified from indicated to measured in preparation for the full mining study."
At 1254 GMT, shares in Anglo Asian Mining were up 3.45% at 60p.
Reporting by Josh White for Sharecast.com.
Share this article
Related Sharecast Articles
Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.
Award-winning online share dealing
Search, compare and select from thousands of shares.
Expert insights into investing your money
Our team of experts explore the world of share dealing.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity, Equity & Inclusion | Doing Business with Fidelity | Diversity, Equity & Inclusion Reports | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Staying secure | Statutory and Regulatory disclosures | Whistleblowing programme
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.