TODAY.AZ / Business

AzerGold continues exploratory drilling

22 August 2019 [17:56] - TODAY.AZ

By Azernews

By Mirsaid Ibrahimzade

Exploration works, currently carried out by AzerGold CJSC, aim to further increase the national mining industry’s profits and contribute to the socio-economic development of the country’s regions, as well as to the more dynamic development of the non-oil sector.

AzerGold CJSC will allocate more than 10 million manats ($6.06 million) for exploratory drilling, according to the government procurement website.

In 2018, AzerGold carried out exploration and drilling works at depths of up to 17,000 meters, as well as metallurgical, laboratory, geotechnical, hydrological studies to raise the reserves of underground (sulfide) ores at the Chovdar, Agyokhush, Tulullar, Ortakend Khanagha deposits.

The company also completed the preparation of a preliminary feasibility study for the development of the Filizchay polymetallic ore deposit.

This year, AzerGold plans to complete the development of a feasibility study for the underground phase of the operation of the Chovdar field.

Last year, 45,990 ounces of gold and 77,340 ounces of silver were extracted by the company from the Chovdar field, which exceeds the production plan for 2018. This was 34 percent higher than the gold production figures for 2017 and 53 percent more than the silver production numbers of 2017.

In addition to optimizing the current extraction process and reducing the cost value of the extraction of precious metals, AzerGold successfully continues exploration works to commission new non-ferrous metal deposits. In this regard, 7,285 meters of geological drilling operations were carried out in July, and this figure is expected to reach 40,000 meters by the end of the year.

The exploration program involves the increase of surface and subsurface resources of Chovdar Ore processing area, the drilling operation and the approval of reserves at potentially gold- and silver-bearing fields Aghyokhush, Marak and Tulallar, as well as the evaluation of reserves in Filizchay polymetallic deposit in accordance with international standards.

Along with making a tangible contribution to the development of the non-oil sector and the socio-economic development of the regions, the activities planned by AzerGold create favorable conditions for the long-term and comprehensive development of the mining industry in Azerbaijan.


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