Higher Grade Gold Mineralization Confirmed at Tabakoto and Segala
Avion Resources Corp. (TSX VENTURE: AVR) ("Avion"), 80% owner of the Tabakoto and Segala gold projects located in Mali, West Africa, today announced the commencement of a minimum 15,000 metre drill program and re-sampling of four drill holes that indicate potential for the definition of a higher grade underground-mineable resource.
Avion's plan for the Tabakoto and Segala projects include the execution of a drill program followed by an updated estimate for both the Tabakoto and Segala open-pit targets. This estimate, which is expected to give a more confident estimate of the grade and resource size, is due in the fourth quarter of 2008. Avion expects the resource to be the basis of a new mine plan and feasibility study, designed to facilitate re-commencement of the previously producing Tabakoto gold mining project in the second half of 2009.
"With the commencement of drilling, Avion's plan to re-initiate mining in the second quarter of 2009 is on track," commented Rene Bharti, President and CEO of Avion Resources Corp. "As well, the re-sampled results of the Dabo zone at the Tabakoto project further supports management's belief in the prospectivity of these properties and the expectation that Avion's current exploration program will enhance shareholder value."
Exploration drilling commenced on the Segala property on June 22 with one drill. A second drill is expected to be added to the property by the end of the week of June 30, 2008. One 212.0 metre hole has been completed with a second hole in progress. This drill program is designed to confirm previously estimated life-of-mine resources for the Tabakoto and Segala deposits and to test other targets identified on the property through geophysics conducted earlier in the year. Results from this program are expected to provide a better understanding of the gold mineralization on the property. Current drilling will assist Avion in verifying the size of the resource on the property and will identify which targets in the area also demonstrate resource potential. (For a property map identifying these test targets, please visit the Avion website at www.avionresources.com.)
Review of Tabakoto and Segala Projects
Avion is currently undertaking a review of work previously carried out on the Tabakoto and Segala properties by former owner Nevsun Resources Ltd. Avion is re-sampling select mineralized intercepts to verify the previous gold assays and to focus on the controls for the gold mineralization. Avion believes that four intercepts, located 250 metres south of the Tabakoto pit, form a coherent zone (Dabo Zone) of higher grade gold mineralization located along the margin of a larger porphyritic felsic intrusion. This zone, which has been traced for 180 metres down-dip and 35 metres along strike, is open down dip and along strike, with the potential to convert the initial open-pit targets to (high-grade) underground mines.
A summary of the re-sampling and previous results is listed in the following table. Avion's samples returned, on average, higher gold values than previous Nevsun sampling; this may be caused by the previously reported nugget nature of the gold mineralization, which can provide significant variability in assay results.
