Positive Preliminary Results of Geological Exploration at the Ortakend Gold Deposit

The geological exploration performed by AzerGold Closed Joint-Stock Company (CJSC) in 2023 at the Ortakend gold deposit of the Goydagh field, located in the Julfa region of the Nakhchivan Autonomous Republic, gave positive preliminary results. Based on the said deposit exploration results, according to the preliminary estimate of the internationally renowned consulting company MICON INTERNATIONAL, the deposit has 424 thousand Oz of technically extractable gold. At the next stage, the salable reserves, i.e., those that can be feasibly produced, will be determined. If the final exploration result is positive, it is planned to start open-cast mining at the deposit in the near future. The exploration performed in another deposit of the Goydagh field - the Goydagh copper-porphyry deposit to estimate its reserves also gave positive preliminary results. The survey is ongoing.