Anglo Asian Mining PLC announced that drill results confirm a significant quantity of copper mineralisation at Xarxar. The drill results will form part of a forthcoming JORC mineral resource estimate for the Xarxar deposit. In July 2022, an extensive geological exploration programme commenced at the Xarxar deposit, targeting the central copper mineralisation zone.

A Joint Ore Reserves Committee ("JORC") Mineral Resource Estimate ("MRE") is being prepared for the Xarxar deposits and will be published by the end of March 2024. A site visit by the Company's independent geological consultants, Mining Plus UK, was completed in September 2023 as part of the JORC due diligence process. Following the publication of the MRE, further infill and extension drilling will be planned, along with a metallurgical testwork programme and geometallurgical modelling.

"Considerable progress has also been made regarding the development of JORC mineral resource estimate, and the long-term development of the asset. Xarxar represents an important project for the Group and transition towards copper, as pursue previously disclosed medium-term production strategy. Geological core logging, sampling and assaying of the remaining drill core has been conducted by Anglo Asian.

Anglo Asian has also reviewed other information acquired from AzerGold CJSC which included geochemical and geophysical data together with maps and interpretative reports. A core drilling programme commenced at Xarxar immediately following its acquisition in July 2022. A portal has been constructed and a 500 metre long, 3.5 metre by 3.5 metre exploration tunnel constructed into the mineralisation from where underground horizonal drilling was carried out.

In-situ recovery methods are also being investigated.