TORONTO, ONTARIO -- (MARKET WIRE) -- 12/16/09 --
Avion Gold Corporation ("Avion Gold" or "the Company") (TSX VENTURE: AVR) presents the new results from 2009 exploration drilling and updated zone interpretations.
Tabakoto Pit area
In 2009, Avion modeled and tested four northeast-trending zones of mineralization that lie both in the historic Tabakoto Pit and just south of the pit (see Figure). Three of the four mineralized trends returned economic grades over mineable widths and are open down plunge.
The NE1 trend lies in the southern part of the Tabakoto pit. On August 17, 2009, Avion released the results of channel samples collected along this trend that returned 108.68 g/t Au (18.24 g/t Au capped at 37.5 g/t Au) over 2.0 metres true thickness, and 25.15 g/t Au (23.47 g/t Au capped) over 2.3 metres (true thickness). This panel of mineralization can be traced along strike for approximately 300 metres and to depth for approximately 400 metres; this zone is still open to depth and partially along strike. Drill testing in 2009 comprised 4 core holes and 29 reverse circulation grade control holes. The core holes were drilled to test the western edge of the NE1 zone with 25 to 35 metre step-outs from previous holes. The RC holes tested a near surface panel approximately 70 metres long by 35 metres in depth in anticipation of developing a shallow open-pit resource. The core holes returned a best intercept of 4.42 g/t Au over 15.6 metres (approximately 12.0 metres true width) (see table at end). Reverse circulation holes indicated the presence of a continuously gold mineralized zone that returned a best value of 17.16 g/t over 9.0 metres (approximately 7.0 metres true width).
Drill testing of the NE1 trend also resulted in the intersection of a potential new, parallel zone of gold mineralization with an intercept of 15.55 g/t Au over 5.5 metres core length.
The Tabakoto South Trend has been traced for 450 metres along strike and is suspected to extend for at least 750 metres along strike. The Tabakoto South trend lies approximately 260 metres southeast, and is parallel to the NE1 zone described above. Within this trend two coherent zones of higher grade mineralization have been identified, the Dabo and Tabakoto South zones (see figure). The Tabakoto south zone has been traced for approximately 300 metres along strike, to 275 metres below surface and is open to depth (see Figure). Four of the six 2009 holes intersected significant gold mineralization with hole T-09-08A returning a best intercept of 4.64 g/t Au over 9.7 metres (approximately 9.3 metres true width). Infill drilling is required since most of the holes are more than 50 metres apart.
The Dabo zone has been traced for approximately 250 metres along strike, to 250 metres depth and is open down plunge (see Figure). Three of the seven 2009 drill holes that pierced this target horizon returned significant values with the best intercept of 4.83 g/t Au over 3.0 metres (2.9 metres true width). More infill and down-plunge drilling is required to test this zone which appears to increase in grade at depth with the best hole returning 7.92 g/t Au over 14.1 metres (approximately 11.0 metres true width).
Don Dudek, Senior Vice President, Exploration commented: "As we explore the Tabakoto pit area, we continue to find ways to expand the resources with the discovery of new mineralized zones and exploration opportunities. Since the mineralized zones are still open, down plunge provides a ready potential source for more resources, which when tested, may lead to the discovery of additional mineralized zones."
Leach and gravity concentrate testing
Leach test and crushing and gravity concentrating free gold studies are continuing and are now expected to be completed near the end of Q1, 2010. While initial leach test work suggests that recoveries of 85% of the gold is possible by leaching, all samples tested to date displayed the presence of gravity-recoverable coarse gold. Gravity recoveries for both the Tabakoto and Segala mines have ranged from 55 to 85% of the total gold content.
Avion's current National Instrument 43-101 compliant Measured and Indicated Mineral Resource is 1.21 million ounces of gold grading 3.48 g/t Au. In addition, Avion's Inferred Mineral Resource is 1.14 million ounces of gold grading 3.50 g/t Au (Avion, May 19, 2009 news release).
Avion's procedures for handling drill core are consistent with industry practice and described in more detail in previous news releases. Avion continues to present assay composites with high grade samples capped at 27.5 g/t Au, which is the capping level deemed appropriate for the Segala Main Deposit and 37.5 g/t Au for the Tabakoto Deposit (Avion: December 12th, 2008 news release).
About Avion Gold Corporation
Avion is a Canadian-based gold company focused in West Africa. The Company holds 80% of the Tabakoto and Segala gold projects in Mali. Gold production at these projects commenced in mid- February, 2009. Avion continues to support a 2009 production guidance of 50,000 ounces Au. Avion has a highly skilled management team, with a focus on growth and consolidation within West Africa.
Cautionary Notes
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the impact of the results on the Company; statements with respect to the development potential and timetable of the Mali projects; the future price of gold; the estimation of mineral resources; conclusions of economic evaluation (including scoping studies); the realization of mineral resource estimates; the timing and amount of estimated future production, development and exploration; costs of future activities; capital and operating expenditures; success of exploration activities; mining or processing issues; currency exchange rates; government regulation of mining operations; and environmental risks. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; ability to successfully integrate the purchased properties; foreign operations risks; other risks inherent in the mining industry and other risks described in the annual information form of the Company which is available under the profile of the Company on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
Should you wish to receive Company news via email, please email info@avionresources.com and specify "AVR News" in the subject line.
Summary of Exploration Drill Assay Results for the current release
2009 Tabakoto Drill holes
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Capped True
Hole # From To Width g/t Au Au width
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T-09-01 150.65 159.80 9.15 1.33 1.33 8.5
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T-09-02 237.00 240.20 3.20 5.01 5.01 2.7
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T-09-02 259.30 259.50 0.20 3.84 3.84 0.2
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T-09-03 NSV
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T-09-04 93.00 94.00 1.00 0.80 0.80 2.8
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T-09-04 153.00 156.00 3.00 1.53 3.63 2.8
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T-09-04 240.00 241.00 1.00 10.60 10.60 0.9
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T-09-05 261.70 266.00 3.30 2.69 2.69 2.5
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T-09-06 180.00 181.00 1.00 0.65 0.65 0.8
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T-09-06 212.00 215.00 3.00 2.80 2.80 2.5
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T-09-07 219.00 222.00 3.00 4.83 4.83 2.9
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T-09-07 228.00 231.00 3.00 2.36 2.36 2.9
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T-09-08A 21.00 22.00 1.00 2.95 2.95 1.0
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T-09-08A 227.00 228.25 1.25 2.75 2.75 1.2
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T-09-08A 232.55 242.25 9.70 4.75 4.75 9.3
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T-09-09 76.00 92.70 16.70 1.45 1.45 11.1
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incl. 90.70 92.70 2.00 6.66 6.66 1.8
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T-09-10 208.70 209.90 1.20 14.50 14.50 0.8
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T-09-11 109.00 116.50 7.50 1.04 1.04 6.9
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T-09-11 124.00 127.50 3.50 3.26 3.26 3.2
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T-09-12 133.20 139.90 6.70 15.55 5.50 4.5
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183.70 201.00 17.30 3.72 3.72 11.5
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incl. 183.70 186.10 2.40 5.00 5.00 1.6
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incl. 189.50 197.00 7.50 5.22 5.22 5.0
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T-09-13 84.40 100.00 15.60 4.42 4.19 10.0
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2009 Tabakoto Grade Control RC holes - NE1 zone
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RC HOLE FROM TO LENGTH Au_g/t
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TMNGC_001 17 18 1 1.73
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TMNGC_002 17 18 1 8.43
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TMNGC_003 14 16 2 6.59
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TMNGC_003 19 21 2 4.77
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TMNGC_003 26 27 1 1.05
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TMNGC_004 20 23 3 2.02
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TMNGC_005 19 31 12 13.32
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TMNGC_006 12 13 1 1.34
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TMNGC_006 17 28 11 7.56
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TMNGC_007 8 9 1 1.89
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TMNGC_007 21 26 5 5.27
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TMNGC_008 29 30 1 1.234
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TMNGC_009 30 31 1 1.86
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TMNGC_009 34 38 4 9.16
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TMNGC_010 25 26 1 2.51
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TMNGC_010 30 35 5 9.61
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TMNGC_011 28 33 5 5.84
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TMNGC_011 36 37 1 1.88
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TMNGC_012 30 41 11 11.12
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TMNGC_013 31 35 4 37.46
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TMNGC_014 32 38 6 6.96
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TMNGC_016 42 46 4 1.39
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TMNGC_017 38 47 9 10.93
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TMNGC_018 31 32 1 1.25
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TMNGC_018 38 44 6 20.93
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TMNGC_019 40 48 8 5.83
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TMNGC_019 51 52 1 3.14
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TMNGC_020 37 48 11 7.19
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TMNGC_021 39 50 11 3.68
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TMNGC_022 45 48 3 4.86
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TMNGC_023 49 51 2 4.71
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TMNGC_023 55 57 2 4.52
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TMNGC_024 50 59 9 17.16
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TMNGC_025 49 50 1 1.09
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TMNGC_025 53 61 8 8.62
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TMNGC_026 49 54 5 17.98
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TMNGC_028 9 10 1 1.43
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TMNGC_028 25 26 1 4.00
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TMNGC_028 51 56 5 14.68
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TMNGC_029 52 56 4 13.22
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TMNGC_029 61 65 4 1.62
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TMNGC_030 21 22 1 8.12
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TMNGC_030 54 57 3 9.06
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TMNGC_030 63 64 1 6.42
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2009 Dioulafoundou holes
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D-09-03 140.50 155.30 14.80 4.24 3.91
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incl. 140.50 145.70 5.20 8.91
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181.00 185.60 4.60 1.25
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To view the Long Section Tabakoto NE Zone, please visit the following link: http://media3.marketwire.com/docs/NEzone.pdf
To view the Long Section Tabakoto South Zone, please visit the following link: http://media3.marketwire.com/docs/southzone.pdf
To view the Long Section Tabakoto Dabo Zone, please visit the following link: http://media3.marketwire.com/docs/dabozone.pdf
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
Contacts:
Avion Gold CorporationRene Bharti
Vice President Business Development
(416) 861-5913
info@avionresources.com
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