A significant increase has been recorded in gold mining due to the optimization of operational processes on the part of AzerGold CJSC, the company said in a statement.
In particular, in the first ten months of 2018 the gold production amounted to 36,632 ounces, thereby exceeding the last year’s figures.
In general, the AzerGold CJSC is planning to have extracted 45,000 ounces of gold by the end of this year, up by 33% YoY. Currently, the mining operations are carried out in accordance with the plan.
The large-scale geological prospecting work is being carried out in order to increase the reserves of the exploited sites and to commission new deposits.
The drilling of 32 exploration wells with a total depth of 6,000 meters has been completed, which has been carried out with the purpose of increasing the reserves of sulfide ores of the Chovdar deposit of the Dashkesan region. The information collected in the framework of exploration work will be used by the international consulting company Micon International in developing a feasibility study for the project.
The check and appraisal drilling operations have been carried out starting from June of the current year, on the basis of the positive results obtained from the potentially promising Agyokhush site discovered by geologists of AzerGold CJSC.
The geophysical work is undergoing on the Narchala-Agyokhush site, situated on the far flanks of the Chovdar deposit. The surficial geophysical studies on the Kapaz site, situated on the territory of the Goygol district, will be carried out next year.
An agreement has been signed with the Ministry of Ecology and Natural Resources in order to conduct joint drilling operations at the Tulallar gold-bearing site in the Goygol district, and the drilling work is already underway.
The intensive drilling operations have also been carried out since July on the gold-bearing and potentially copper bearing Ortakend-Khanaga site situated on the territory of the Nakhchivan Autonomous Republic.
A preliminary appraisal document on the Filizchay poly-metallic deposit situated in the Balaken region and being of strategic importance not only for Azerbaijan but also for Europe, will be prepared by the influential international consulting company SRK Consulting before the end of this year. Presently, the prospects for the development of the nearby Mazimchay, Katsdag, etc. deposits are being considered in the framework of the Filizchay project.
The commissioning of the new deposits will allow for significant enhancement of production volumes in the coming years. According to preliminary estimates, only the operation of the Filizchay deposit, as well as the oxide and sulfide phases of the Chovdar deposit will bring to the country’s economy a revenue in the amount of more than 10 billion manats. (Trend/Ukrainian metal)