AzerGold runs geophysical and geological explorations of iron ore deposit in Armenia
Armenian Dashkasan iron ore deposit is the only iron ore deposit has proven reserves of 270 million tons. The iron content of the ore varies mainly between 35-45 per cent by deposits.
Azerbaijan’s gold mining company AzerGold CJSC has started geophysical and geological exploration in the country’s Dashkesan iron ore deposit with a proven reserve of 270 million tons, a source within the company has reported.
At the first stage of the geological exploration program, 32 geological wells will be drilled in four areas to confirm resources for the field’s reserves. As part of the initial studies, drilling work is expected to be carried out with a total depth of 21,000 meters, 6,500 of which are scheduled for completion this year. Moreover, the information obtained as a result of drilling operations will make it possible to form a database on primary resources. After analysis and study of this information it will be possible to draw up the following geological exploration programs aimed at specification, increase and full confirmation of the field resources.
Likewise, all researches will be carried out by a team of experienced professionals in accordance with modern approaches and requirements of international standards. Based on the results of geological exploration works, geological models of the field will be drawn up, existing resources and reserves will be recalculated in accordance with JORC international standards, economically viable resources will be re-evaluated.
The studies carried out to prepare the preliminary evaluation document are the necessary step in the implementation of mining projects. Thus, positive indicators from results, at this stage of exploration, will allow moving to the next stage of a more detailed study of the deposit. It should be noted that, exploration work is scheduled to be completed in the first half of 2021, and the preliminary evaluation report will be completed and submitted to the state in the second half of the same year.
Exploration is done within the framework of works on preparation of the document on preliminary evaluation of the deposit, in accordance with the decree of Azerbaijani President from August 6 on measures to put into operation the Dashkasan iron ore deposit.
The company has developed a program of geological exploration works for this purpose. At present, the existing information is being collected and digitized, work is being done to prepare a three-dimensional geological model of the deposit using special software. Earlier it was reported that, Azerbaijani President Ilham Aliyev has signed an order to put into operation the Dashkasan iron ore deposit. Under the order, initially $1.76 million (AZN 3 million) will be allocated to AzerGold mining company from the amount specified in the relevant paragraph of the “Distribution of funds for state capital investment (investment expenditures) in the state budget for 2020.
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