AzerGold successfully establishes export of valuable metals
The state-owned company, AzerGold, which is engaged in exploration, development and management of deposits of precious and base metals, plans to conduct drilling operations with a total depth of more than 20,000 meters for all projects in 2018.
The state-owned company, AzerGold, which is engaged in exploration, development and management of deposits of precious and base metals, plans to conduct drilling operations with a total depth of more than 20,000 meters for all projects in 2018.
During two years of its activity, AzerGold CJSC successfully completed the restoration of production at the Chovdar field in Dashkesan region, established the export and sale of valuable metals, and also optimized production processes at the enterprise.
As a result, significantly increasing the extraction of non-ferrous metals, the company has contributed to the expansion of non-oil exports of the country.
AzerGold plans to start operation of a number of new deposits in the near future, thereby contributing to the integrated development of the country's mining industry, increasing revenues in the non-oil sector, attracting foreign exchange, supporting the development of regions, creating new jobs and improving the social well-being of the population.
To this end, the joint-stock company continues geological exploration and research work.
At the moment, the company carries out exploration work on several prospective territories. Along with the discovery of new deposits of non-ferrous metals, these studies allow increasing, estimating and confirming reserves and resources of already known deposits.
To assess the gold, silver and copper reserves in the Chovdar field, operation of which is at the oxide (ground) stage, drilling is continuing within preparation for the transition to the sulphide stage.
Metallurgical tests and laboratory tests are also planned within the sulphide phase of operation. By the end of this year, in accordance with a contract signed with a foreign consulting company, AzerGold plans to complete the preparation of a feasibility study document for this stage.
Along with this, on the near and far flanks of the Chovdar field, external testing work are carried out, while geophysical studies are being conducted in nearby promising areas. Thanks to these studies a promising site, Agyohush, was discovered in the current year at 5-7 km from the Chovdar field. A comprehensive geological survey has already begun on this site.
In the territory of the Kohnamadan section in Balakan region, research and exploration work is also widely carried out. It is planned to conduct metallurgical tests, engineering-geological and hydrological studies, as well as environmental impact assessments, on the territory of Filizchay. Filizchay is considered as the second largest deposit in Europe and included in top 10 of polymetallic deposits over the world in terms of the volume of reserves.
The document on the initial economic evaluation of the deposit will be prepared in the second quarter of this year. In another field of the Kohnamadan site - at the Mazymchay field - the first stage of drilling operations was completed, the results of which were sent for analysis to local and foreign laboratories.
Based on the received primary data, it is planned to conduct the next stage of drilling operations in this area.
The expansion of the resources of the Mazymchay deposit may increase the economic profitability of the Filizchay field development project. Mazimchay deposit is located in Balakan region, in the vicinity of 2.53.0 km of Filizchay field. With 414.400 tons of estimated resources, middlescale Mazimchay deposit ores mainly consist of copper.
In the fourth quarter of 2017, geophysical surveys were carried out at the Ortakend-Khanaga field in the Nakhchivan Autonomous Republic, and drilling is planned this year.
AzerGold's exploration work is carried out by local professional geologists and specialists with the support of international experts. Geological research is carried out using the most advanced, wireless geophysical equipment and software, which guarantees more complete and accurate information.
To successfully carry out research, the company cooperates with the National Geological Survey Service of the Ministry of Ecology and Natural Resources, research institutes of the National Academy of Sciences, local and international laboratories, as well as with leading global consulting companies such as SRK Consulting and Micon International Limited (UK).
Azerbaijan, a country with reach mineral resources, started industrial production of gold in July 2009. About 900 fields were registered in Azerbaijan's state and territorial balance of reserves of mineral resources. The Ministry for Ecology and Natural Recourses estimates that the country is able to produce about 1015 tons of gold per year.
AzerGold CJSC was established on February 11, 2015. The company uses new technologies in exploration, development and management of non-ferrous metal deposits, modernization of the material and technical sources and their effective use, as well as other work for developing this sphere.
Also, Anglo Asian Mining PLC has the right to develop 6 fields in southwest of Azerbaijan: Gadabay, Ordubad, Gosha Bulag, Gizil Bulag, Vejnali and Soyutlu.