Chovdar gold mine which is located on the north of Dashkasan in the vicinity of the village with the same name is the first mine project of AzerGold CJSC. The Company has been carrying out extraction works in the mine since 2017. Although extractable gold resources in the mine was estimated 179 thousand ounces, as a result of optimization works implemented in the course of operation process and the exploration works carried out during 2018-2019, the available amount of extractable gold resources was increased up to 534 thousand ounces. The first phase (oxide phase) was completed in August 2021. Thus, 243,355 ounces of gold was extracted in the oxide phase. The second phase (sulphide) launched in September, 2020.
Projected operation term of sulfide phase covers 2020-2029 years.