Drilling confirms wide zones of gold mineralization at Segala
TORONTO, ONTARIO -- (Marketwire) -- 08/15/08 -- Avion Resources Corp. (TSX VENTURE: AVR) ("Avion"), 80% owner of the Tabakoto and Segala gold projects located in Mali, West Africa, today announces the results from its ongoing 15,000+ m drill program.
Avion has completed 44 holes totaling approximately 8,300 metres as of August 14th, 2008. Drilling has focused on testing targets nearby to the previously defined Segala zone and in-fill drilling within the Segala zone. Results have been returned for six of the 21 holes drilled in the Segala area. Hole S-08-05 in the Segala deposit returned 28.8 metres (approximately 20 metres true width) grading 2.93 g/t Au and hole S-08-07 returned 27.0 metres (approximately 21.5 metres true width) grading 2.96 g/t Au (see table). In addition, wide zones of lower grade mineralization flank the central core of well mineralized rock with 12.0 metres true width grading 0.57 g/t Au above the intercept in hole S-08-07 and 27.5 metres true width grading 0.60 g/t Au below the intercept in hole S-08-07. In total the mineralized intercept in hole S-08-07 returned 1.39 g/t Au over an approximate true width of 63.3 metres. The wide zone of gold mineralization confirms the robust nature of the Segala mineralized system and demonstrates potential to further expand the project's resources. Four other holes on the northwest flank of the Segala zone returned up to 7.23 g/t Au over 10.5 metres (intercept influenced by an intercept of 48.1 g/t over 1.5 metres).
As previously stated, Avion's plan for the Tabakoto and Segala projects includes the execution of a drill program followed by an updated resource estimate for both the Tabakoto and Segala open-pit targets which we plan to have prepared in the fourth quarter of 2008. Avion expects the resource to provide the base for a new mine plan and feasibility study, designed to facilitate re-commencement of the previously producing Tabakoto gold mine project in the second half of 2009. One drill is now dedicated to testing previously identified and inferred, well mineralized structures, that pass through the Tabakoto pit envelope. To date 27 holes totaling 3,400 metres have been designed to confirm and extend these mineralized structures.
In conjunction with the drilling, the following initiatives are in progress:
- Detailed mapping of the Tabakoto pit area,
- Channel sampling of the exposed mineralization in the Tabakoto pit,
- Confirmation of grade of the ROM pad stockpiles (internal report by Nevsun
Resources Ltd. ("Nevsun") indicated 8,000 tonnes grading 2.5 g/t Au, 8,000 tonnes grading 1.8 g/t Au, 400,000 tonnes grading 1.5 g/t Au and 400,000 tonnes grading 0.8 g/t Au);
- Grid sampling of the tailings pond fines (Nevsun mill reconciliation reports indicate that this material could grade 0.5 g/t Au); and
- Property scale geological, geophysical and geochemical compilation.
"Avion's initial exploration work reinforces management's belief that the value of the Tabakoto and Segala assets will be fully realized as the exploration program continues. With the drilling advancing rapidly, Avion is on track to update the gold resources in the latter half of this year," commented Rene Bharti, President and CEO of Avion Resources Corp.
Table of Segala Significant Results
---------------------------------------------------------------------------
From To Width True Comment
Hole (metres) (metres) (metres) Au g/t Width
---------------------------------------------------------------------------
75 m NW of
S-08-01 88.5 100.5 10.5 1.41 proposed Segala pit
---------------------------------------------------------------------------
S-08-02 40.5 42.0 1.5 1.60 NW edge of
------------------------------------------------------- proposed Segala pit
74.5 76.0 1.5 1.50
-------------------------------------------------------
83.5 91.0 7.5 0.78
---------------------------------------------------------------------------
Test Segala FW
zone at NW edge of
S-08-03 122.0 147.5 25.5 0.61 proposed Segala pit
---------------------------------------------------------------------------
S-08-04 127.0 137.5 10.5 7.23 Test gap in Segala
------------------------------------------------------- zone drilling near
incl. 130.0 131.5 1.5 48.10 based on proposed
------------------------------------------------------- Segala pit
148.0 167.5 19.5 0.74
-------------------------------------------------------
incl. 154.0 160.0 6.0 1.29
-------------------------------------------------------
188.5 197.5 9.0 1.78
-------------------------------------------------------
214.0 215.5 1.5 12.50
---------------------------------------------------------------------------
S-08-05 69.5 71.0 4.4 1.50 Gap in lower limit
------------------------------------------------------- of proposed Segala
174.5 203.0 28.8 2.93 20.0 pit
-------------------------------------------------------
incl.
