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Market: TSX
Sector: Gold Mining
Epic: AUR
News: Latest news
Web Site: Avion Resources
Other Articles: 11-08-201004-02-201011-01-2010

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Avion Resources

Avion Resources

Avion Resources is a Canadian-based exploration and development company focused on strategic acquisitions in Africa. Avion has built a team of highly qualified geologists and engineers, as well as a strong operational team, with the goal of becoming a gold producing company in 2009. Avion recently purchased a 100 square kilometre land and mine package in Mali, which contains the Tabokoto mine and the Segala project.

Tuesday, May 19, 2009

Avion Resources ups Tabakoto and Segala Gold Resource to 2.6 million ounces

by Proactiveinvestors company news image

Avion Resources (TSX-V: AVR) delivered the kind of news investors like to hear – a substantial increase in measured and indicated gold resources.  For Avion the good news emanated from the Tabakoto and Segala Gold Projects in Mali, where the indicated and measured resource increased from 0.45 million ounces of gold to 1.2 million ounces of gold. The inferred resource also notched up a significant gain, rising from 0.45 million ounces to just under 1.4 million ounces.

Avion currently splits the resource into two main categories: open pit and underground. The open measured and indicated resource now stands at 4.136 million tonnes grading 3.3 grams per tonne at a 1 gram per tonne cut-off. The underground measured and indicated resource is now 2.685 million tonnes grading 3.73 grams per tonne, also at a 1 gram per tonne cu-off.

"The Tabakoto pit area resources, which form the bulk of the above resource estimate, combines a series of mineralized structures along an approximate 1.8 km long part of the northerly-trending Tabakoto mineralized trend,” the company reported.

Avion went on to say that it would it would continuing drilling at Tabakoto and Segala to upgrade more of the inferred resource and to add more ounces in the ground.

The total project measured and indicated resources now consists of 18.44 million tonnes grading 2.55 g/t gold, or approximately 1.5 million ounces gold at a 0.5 gram per tonne gold cut-off. Total project inferred resources total 17.68 million tonnes grading 2.58 grams per tonne gold at a 0.5 gram per tonne gold cut-off.


"The significant increase in the mineral resources in the project further supports Avion's Segala and Tabakoto expansion strategy" commented John Begeman, President and CEO. "These new resources support Avion's goal to increase the capacity of the plant from 100,000 ounces per year to 200,000 ounce per year. As well, we believe that the project and area have excellent potential to deliver more resource ounces in the future."


Avion holds 80% of the Tabakoto and Segala gold projects in Mali, which are forecast to produce 66,000 ounces of gold in 2009 with cash costs of US$505 per ounce of gold.

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