Welcome!

News Feed Item

Avion's Hounde Property, Burkina Faso, Continues to Return Wide High Grade Intercepts

3.12 g/t Au over 62.0 Metres and 3.48 g/t Au over 62.0 Metres

TORONTO, ONTARIO -- (Marketwire) -- 06/14/12 -- Avion Gold Corporation (TSX:AVR)(OTCQX:AVGCF) ("Avion" or the "Company") is pleased to announce results for an additional 33 holes drilled in 2012 in the Vindaloo zone area, Hounde Project, Burkina Faso (see Figure 1). A summary of select intercepts are as follows:


--  5.02 g/t Au over 6.0 metres 
--  3.12 g/t Au over 62.0 metres 
--  3.48 g/t Au over 62.0 metres 
--  7.74 g/t Au over 10.0 metres 
--  5.27 g/t Au over 16.0 metres 
--  1.87 g/t Au over 16.0 metres 
--  2.16 g/t Au over 19.0 metres 
--  2.85 g/t Au over 17.0 metres 
--  2.61 g/t Au over 23.6 metres 
--  1.49 g/t Au over 36.0 metres 
--  1.72 g/t Au over 25.0 metres 
--  1.44 g/t Au over 21.0 metres 

These holes predominantly tested the central part of the Vindaloo zone where Avion has defined Indicated mineral resources of 13.41 million tonnes at 2.07 g/t Au totaling 893,000 ounces of gold and Inferred mineral resources of 10.71 million tonnes at 2.07 g/t Au totalling 712,000 ounces of gold. Holes HD-12-35 with 3.12 g/t Au over 62.0 metres and HD-12-36 with 3.48 g/t Au over 62.0 metres (Figure 1), were drilled 200 metres apart and represent near-surface intercepts that further support the economic potential of the Vindaloo zone. In addition, intercepts of 1.26 g/t Au over 8.6 metres and 1.73 g/t Au over 11.0 metres in hole HA-12-08 and 1.72 g/t Au over 25.0 metres in hole HA-12-10 extend the Vindaloo West zone further to depth. The Vindaloo West zone lies from 50 to 75 metres west of the Vindaloo zone and has returned intercepts to 2.18 g/t Au over 29.7 metres.

Don Dudek, Avion's Senior Vice President Exploration stated: "Avion continues to be rewarded by good grade and width intercepts from the Vindaloo zone and from the adjacent Vindaloo West zone which is still open along strike and to depth. With the results we have seen to date it is easy to see the potential for production at the Vindaloo zone in the near future."

This news release presents the results from 33 core and reverse circulation holes totaling approximately 5,432 metres of drilling. Assay from an additional 26 holes is still pending. A summary of all the current drill intercepts is attached at the end of this press release.

The gold-bearing zones that define the Vindaloo zone, now including the Madras and Madras NW zones (see Figure 2), have now been traced, by drilling, more or less continuously for approximately 5.6 kilometres. Avion has now completed at least one hole per 100 metres of strike along the defined mineralized trends. The current mineral resource is defined as the southern 2.65 kilometres part of the Vindaloo zone. Drilling, and the discovery of a new artisanal zone, located to the south along strike of the mineral resource area could potentially add another 3.7 kilometres of strike to the Vindaloo zone for a total of 9.3 kilometres.

The Vindaloo zones are hosted by an intensely sericite- and silica-altered mafic intrusion and similarly-altered, intensely sheared and altered intermediate to mafic volcanoclastics. The mineralization is often quartz stockwork-style and is weakly to moderately pyritic. The entire mineralized package strikes north-northeast and dips steeply to the west to vertical. Drilling along the approximate 1.2 kilometre strike of the central core of the Vindaloo gold system has defined a coherent gold-mineralized, apparently shallow south plunging zone that has been traced at least to 300 metres depth. Along strike, both to the north and south of the core of the Vindaloo zone, the gold mineralization can vary from weak to quite strong over relatively short, generally vertical distances, leading to nodes of higher grade mineralization connected by less well gold mineralized zones.

In 2012, 134 holes totaling approximately 20,220 metres have been drilled on the Hounde Property with just over 50% of the drill program completed. This program was designed to define additional inferred mineral resources, in-fill drill where necessary to support a Preliminary Economic Study (PEA) and continue to extend the mineralized zones along strike. Approximately 60% of the assays submitted for analysis have been received. Baseline work for the PEA is continuing with potential water dam sites located, initial land ownership surveys completed, potential tailings sites, a possible mill site and on-going community relations work.

Avion's 2012 US$ 12.4 million exploration program is continuing with 241 holes totaling approximately 36,540 metres completed at the Hounde, Tabakoto and Kofi properties. The Hounde Preliminary Economic Assessment has been initiated with completion expected in Q4 2012 to allow for the reception of sufficient drill data.

Avion's procedures for handling core have been presented in previous news releases (See for e.g. Avion's News Release dated September 10, 2011). Assays presented in the attached table have been capped at 30 g/t Au. SGS Laboratories in Ouagadougou and Kaya, Burkina Faso was the independent laboratory used in the testing of the assay samples.

Don Dudek, P.Geo., the Senior Vice President, Exploration of the Company and a qualified person under National Instrument 43-101, has reviewed and approved the scientific and technical information in this press release.

Mining in Burkina Faso

The mining industry in Burkina Faso is growing at a rapid rate due to a combination of a stable elected democratic government, excellent geology and a competitive fiscal regime. Currently six gold mines are in production or development in Burkina Faso (Essakane - IAMGOLD Corporation, Mana - SEMAFO, Inata - Avocet Mining PLC, Youga - Endeavor Mining Corporation, Taparko - High River Gold Mines Ltd., Kalsaka - Cluff Gold PLC). In 2012, it is expected that Burkina Faso will become the fourth largest gold producing country in Africa. The country has legislated low taxes with a corporate tax rate of 20% for mining companies. The government is entitled to a 10% free carried interest and a competitive 3-5% sliding royalty on gold production. Political and economic protests that occurred back in the spring of 2011 did not materially affect Avion's exploration program and no new issues of concern have since arisen.

About Avion Gold Corporation

Avion is a Canadian-based gold mining company focused in West Africa that holds 80% of the Tabakoto and Segala gold projects in Mali. Gold production commenced at these projects in 2009 with approximately 51,290 ounces produced. 2010 production was 87,630 ounces of gold. 2011 production was 91,200 ounces of gold. The current mineral reserve estimate (as of January 1, 2012) of 6.91 million tonnes grading 3.73 g/t Au totaling 827,100 ounces of gold (proven and probable), for the Tabakoto project property, demonstrates several sources of excellent grade open pit and good grade underground mineral resources thus providing significant flexibility for Avion's future mining plans. The Company has developed an underground mine at the Tabakoto deposit, and is developing another underground mine at the Segala deposit. The Tabakoto project property also contains several producing open pit mines. Production sustainability will continue to be supported by exploration programs over an approximately 600 km2 exploration package that both surrounds and is near to the Company's existing mine infrastructure, and contains mineral resources on the Kofi property. Additionally, mineral resources have grown considerably at Avion's 1,600 km2 Hounde exploration property in Burkina Faso. 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 drilling results on the Company; statements with respect to the development potential and timetable of the Hounde project; statements regarding the political environment and mining industry in Burkina Faso; 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; results of geophysical data and metallurgical results; results and timing of drilling programs; 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 those 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.


Summary Current 2012 Vindaloo Drill results                                 
                                                                            
----------------------------------------------------------------------------
            mineralized interval (m)                                        
            ---------------------------                                     
                                           Estimated                        
                                                true                        
Hole #           from       to    width    width (m)    Au (g/t) Au (capped)
----------------------------------------------------------------------------
HD-12-34         35.0     41.0      6.0          3.4        5.02        5.02
----------------------------------------------------------------------------
HD-12-35          8.0     70.0     62.0         35.7        3.12        3.12
----------------------------------------------------------------------------
HD-12-36         16.0     78.0     62.0         43.9        3.48        3.48
----------------------------------------------------------------------------
HD-12-37                                                     NSR            
----------------------------------------------------------------------------
HD-12-38         50.0     55.0      5.0          2.8        2.21        2.21
----------------------------------------------------------------------------
HD-12-39         35.0     37.0      2.0          1.3        1.98        1.98
----------------------------------------------------------------------------
HD-12-40         64.0     74.0     10.0          6.4        7.74        7.74
----------------------------------------------------------------------------
HD-12-41         27.0     43.0     16.0          9.4        5.27        5.27
----------------------------------------------------------------------------
HD-12-42         40.0     41.0      1.0          0.6        2.31        2.31
----------------------------------------------------------------------------
HD-12-43         60.0     66.0      6.0          3.6        1.19        1.19
----------------------------------------------------------------------------
HD-12-44          7.0     18.0     11.0          6.1        6.46        6.46
----------------------------------------------------------------------------
HD-12-45         26.0     27.0      1.0          0.6        1.12        1.12
----------------------------------------------------------------------------
HD-12-45         34.0     50.0     16.0         10.1        1.87        1.87
----------------------------------------------------------------------------
HD-12-47                                                     NSR            
----------------------------------------------------------------------------
HD-12-65        104.0    106.0      2.0          1.4        0.54        0.54
----------------------------------------------------------------------------
HD-12-69                                                     NSR            
----------------------------------------------------------------------------
HD-12-70         58.0     61.0      3.0          2.3        1.07        1.07
----------------------------------------------------------------------------
HD-12-71         57.0     64.0      7.0          5.0        1.13        1.13
----------------------------------------------------------------------------
HD-12-71         75.0     76.0      1.0          0.7        2.92        2.92
----------------------------------------------------------------------------
HD-12-71        100.0    106.0      6.0          4.3        2.75        2.75
----------------------------------------------------------------------------
HD-12-71        132.0    135.0      3.0          2.1        5.88        5.88
----------------------------------------------------------------------------
HD-12-86                                                     NSR            
----------------------------------------------------------------------------
HD-12-87         99.0    100.0      1.0          0.7        3.50        3.50
----------------------------------------------------------------------------
HD-12-87        144.0    163.0     19.0         13.6        2.16        2.16
----------------------------------------------------------------------------
HD-12-87        171.0    172.0      1.0          0.7        1.07        1.07
----------------------------------------------------------------------------
HD-12-88         84.0     90.0      6.0          4.5        0.97        0.97
----------------------------------------------------------------------------
HD-12-88         96.0     97.0      1.0          0.7        5.07        5.07
----------------------------------------------------------------------------
HD-12-89        147.0    151.0      4.0          2.8        2.64        2.64
----------------------------------------------------------------------------
HD-12-90        137.0    138.0      1.0          0.7        1.30        1.30
----------------------------------------------------------------------------
HD-12-90        142.0    144.0      2.0          1.4        1.50        1.50
----------------------------------------------------------------------------
HD-12-91        145.0    147.0      2.0          1.0        1.98        1.98
----------------------------------------------------------------------------
HD-12-91        160.0    162.0      2.0          1.0        1.03        1.03
----------------------------------------------------------------------------
HD-12-92         36.0     37.0      1.0          0.5        3.59        3.59
----------------------------------------------------------------------------
HD-12-92         90.0    107.0     17.0         10.9        2.85        2.85
----------------------------------------------------------------------------
HD-12-92        117.0    141.0     24.0         14.9        1.11        1.11
----------------------------------------------------------------------------
HD-12-92        152.0    153.0      1.0          0.6        1.91        1.91
----------------------------------------------------------------------------
HD-12-93         46.0     47.0      1.0          0.6        1.51        1.51
----------------------------------------------------------------------------
HD-12-93         54.0     55.0      1.0          0.6        1.58        1.58
----------------------------------------------------------------------------
HD-12-94          2.0      3.0      1.0          0.7        1.10        1.10
----------------------------------------------------------------------------
HD-12-94         29.0     30.0      1.0          0.7        2.04        2.04
----------------------------------------------------------------------------
HD-12-95                                                     NSR            
----------------------------------------------------------------------------
HA-12-01        344.3    351.3      7.1          5.0        1.19        1.19
----------------------------------------------------------------------------
HA-12-01        419.0    421.0      2.0          1.5        1.12        1.12
----------------------------------------------------------------------------
HA-12-01        439.0    442.6      3.6          2.7        1.44        1.44
----------------------------------------------------------------------------
HA-12-02        247.1    270.7     23.6         16.8        2.61        2.61
----------------------------------------------------------------------------
HA-12-02        284.8    290.1      5.3          3.8        2.64        2.64
----------------------------------------------------------------------------
HA-12-02        329.0    332.4      3.4          2.5        1.48        1.48
----------------------------------------------------------------------------
HA-12-02        334.5    335.6      1.1          0.8        0.99        0.99
----------------------------------------------------------------------------
HA-12-02        342.9    346.3      3.3          2.4        2.69        2.69
----------------------------------------------------------------------------
HA-12-02        392.5    394.0      1.5          1.1        1.82        1.82
----------------------------------------------------------------------------
HA-12-08       101.50   110.11     8.61         5.10        1.26        1.26
----------------------------------------------------------------------------
HA-12-08       121.00   132.00    11.00         6.83        1.73        1.73
----------------------------------------------------------------------------
HA-12-08       217.00   253.00    36.00        23.14        1.49        1.49
----------------------------------------------------------------------------
HA-12-08       257.70   258.60     0.90         0.59        2.06        2.06
----------------------------------------------------------------------------
HA-12-09                                        0.00         NSR            
----------------------------------------------------------------------------
HA-12-10       137.00   138.00     1.00         0.56        1.85        1.85
----------------------------------------------------------------------------
HA-12-10       140.00   165.00    25.00        14.91        1.72        1.72
----------------------------------------------------------------------------
HA-12-10       238.65   242.00     3.35         2.02        3.40        3.40
----------------------------------------------------------------------------
HA-12-10       248.00   249.50     1.50         0.97        1.13        1.13
----------------------------------------------------------------------------
HA-12-10       276.85   297.85    21.00        14.46        1.44        1.44
----------------------------------------------------------------------------
HA-12-11       181.76   183.10     1.34         0.76        2.31        2.31
----------------------------------------------------------------------------
HA-12-11       241.00   243.00     2.00         1.14        1.31        1.31
----------------------------------------------------------------------------
HA-12-11       278.70   282.42     3.72         2.14        2.18        2.18
----------------------------------------------------------------------------
HA-12-11       301.00   314.00    13.00         7.55        1.49        1.49
----------------------------------------------------------------------------
HA-12-11       330.00   334.00     4.00         2.33        2.01        2.01
----------------------------------------------------------------------------
(i) Assays have been capped at 30 g/t Au                                    
(ii) HA series holes are core holes, HD series holes are reverse circulation
holes                                                                       
NSR = No Significant Results                                                

To view the map associated with this press release, please visit the following link: http://media3.marketwire.com/docs/AVR-Map.pdf.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
"At the keynote this morning we spoke about the value proposition of Nutanix, of having a DevOps culture and a mindset, and the business outcomes of achieving agility and scale, which everybody here is trying to accomplish," noted Mark Lavi, DevOps Solution Architect at Nutanix, in this SYS-CON.tv interview at @DevOpsSummit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"We're here to tell the world about our cloud-scale infrastructure that we have at Juniper combined with the world-class security that we put into the cloud," explained Lisa Guess, VP of Systems Engineering at Juniper Networks, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
Enterprise architects are increasingly adopting multi-cloud strategies as they seek to utilize existing data center assets, leverage the advantages of cloud computing and avoid cloud vendor lock-in. This requires a globally aware traffic management strategy that can monitor infrastructure health across data centers and end-user experience globally, while responding to control changes and system specification at the speed of today’s DevOps teams. In his session at 20th Cloud Expo, Josh Gray, Chie...
"We're a cybersecurity firm that specializes in engineering security solutions both at the software and hardware level. Security cannot be an after-the-fact afterthought, which is what it's become," stated Richard Blech, Chief Executive Officer at Secure Channels, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
In his session at 20th Cloud Expo, Mike Johnston, an infrastructure engineer at Supergiant.io, discussed how to use Kubernetes to set up a SaaS infrastructure for your business. Mike Johnston is an infrastructure engineer at Supergiant.io with over 12 years of experience designing, deploying, and maintaining server and workstation infrastructure at all scales. He has experience with brick and mortar data centers as well as cloud providers like Digital Ocean, Amazon Web Services, and Rackspace. H...
Consumers increasingly expect their electronic "things" to be connected to smart phones, tablets and the Internet. When that thing happens to be a medical device, the risks and benefits of connectivity must be carefully weighed. Once the decision is made that connecting the device is beneficial, medical device manufacturers must design their products to maintain patient safety and prevent compromised personal health information in the face of cybersecurity threats. In his session at @ThingsExpo...
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...
Detecting internal user threats in the Big Data eco-system is challenging and cumbersome. Many organizations monitor internal usage of the Big Data eco-system using a set of alerts. This is not a scalable process given the increase in the number of alerts with the accelerating growth in data volume and user base. Organizations are increasingly leveraging machine learning to monitor only those data elements that are sensitive and critical, autonomously establish monitoring policies, and to detect...
SYS-CON Events announced today that Grape Up will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct. 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Grape Up is a software company specializing in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market across the U.S. and Europe, Grape Up works with a variety of customers from emergi...
You know you need the cloud, but you’re hesitant to simply dump everything at Amazon since you know that not all workloads are suitable for cloud. You know that you want the kind of ease of use and scalability that you get with public cloud, but your applications are architected in a way that makes the public cloud a non-starter. You’re looking at private cloud solutions based on hyperconverged infrastructure, but you’re concerned with the limits inherent in those technologies.
SYS-CON Events announced today that Massive Networks will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Massive Networks mission is simple. To help your business operate seamlessly with fast, reliable, and secure internet and network solutions. Improve your customer's experience with outstanding connections to your cloud.
DevOps is under attack because developers don’t want to mess with infrastructure. They will happily own their code into production, but want to use platforms instead of raw automation. That’s changing the landscape that we understand as DevOps with both architecture concepts (CloudNative) and process redefinition (SRE). Rob Hirschfeld’s recent work in Kubernetes operations has led to the conclusion that containers and related platforms have changed the way we should be thinking about DevOps and...
Everything run by electricity will eventually be connected to the Internet. Get ahead of the Internet of Things revolution and join Akvelon expert and IoT industry leader, Sergey Grebnov, in his session at @ThingsExpo, for an educational dive into the world of managing your home, workplace and all the devices they contain with the power of machine-based AI and intelligent Bot services for a completely streamlined experience.
Because IoT devices are deployed in mission-critical environments more than ever before, it’s increasingly imperative they be truly smart. IoT sensors simply stockpiling data isn’t useful. IoT must be artificially and naturally intelligent in order to provide more value In his session at @ThingsExpo, John Crupi, Vice President and Engineering System Architect at Greenwave Systems, will discuss how IoT artificial intelligence (AI) can be carried out via edge analytics and machine learning techn...
FinTechs use the cloud to operate at the speed and scale of digital financial activity, but are often hindered by the complexity of managing security and compliance in the cloud. In his session at 20th Cloud Expo, Sesh Murthy, co-founder and CTO of Cloud Raxak, showed how proactive and automated cloud security enables FinTechs to leverage the cloud to achieve their business goals. Through business-driven cloud security, FinTechs can speed time-to-market, diminish risk and costs, maintain continu...