Mr. John Begeman reports
AVION'S HOUNDE PROPERTY, BURKINA FASO, RETURNS INTERCEPT OF 2.96 G/T AU OVER 86.0 METRES
Avion Gold Corp. has released the results for an additional 75 holes drilled in 2012 in the Vindaloo zone area, Hounde project, Burkina Faso. These encouraging new drill hole intercepts demonstrate the following:
- Gold-bearing Vindaloo zone has been traced for approximately 5.6
kilometres and is open along strike and to depth.
- Gold mineralization has been identified within an approximate 4.5
km wide by nine km long, open-ended structural corridor.
- There is high potential for the discovery of additional mineralized
zones.
- There is a reasonable likelihood that additional mineral resources will
be defined.
The last round of drilling has returned the best result to date with an exceptional near-surface intercept of 2.96 grams per tonne gold over 87.0 metres, located at the northern end of the currently defined mineral resources. As well, a new zone of mineralization, which returned 1.72 g/t Au over 45.0 metres, was intersected approximately 100 metres north and east of the above intercept. A summary of the better drill intercepts is presented below:
- 1.50 g/t Au over 32.0 metres;
- 3.59 g/t Au over 19.0 metres;
- 31.27 g/t Au over 4.0 metres;
- 2.18 g/t Au over 31.0 metres;
- 3.01 g/t Au over 21.0 metres;
- 2.96 g/t Au over 87.0 metres;
- 2.45 g/t Au over 20.0 metres;
- 1.59 g/t Au over 57.0 metres;
- 1.72 g/t Au over 45.0 metres;
- 26.4 g/t Au over 4.0 metres;
- 34.5 g/t Au over 2.0 metres.
John Begeman, president and chief executive officer of Avion, stated: "Avion is pleased to report these new exploration results for the Hounde project, which in management's opinion, once again increases shareholder value. As well, the continued move towards a constitutionally acceptable transitional Malian government, with a goal of free elections within a year, is welcome news. Gold prices have remained strong and are expected to strengthen further and I believe that in a year from now the current delay in completing our Tabakoto mill upgrade will be a non-issue."
The gold-bearing zones that define the Vindaloo zone, now including the Madras and Madras Northwest zones, 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.
A single hole drilled to validate a 2011 drill intercept of 12.4 g/t Au over 6.5 metres at the Vindaloo Far South zone returned two strong intercepts of 25.6 g/t over 4.0 metres and 3.73 g/t Au over 8.0 metres. These holes were drilled 1.7 kilometres south, along strike of the southernmost Vindaloo zone hole. Additional drilling is planned in this area.
A new artisanal mining area, Soukou, has developed approximately 3.7 kilometres south, along strike of the southern end of the Vindaloo zone. Currently the artisanal mining area is approximately 400 metres long by 150 metres wide and appears to consist of at least four lines of north-northeast-trending artisanal shafts. Drill holes have been planned in this area.
Another mineralized zone, Kari Sud, lies approximately 3.5 kilometres east-northeast of the new artisanal area. A previous hole in this area returned 3.47 g/t Au over 18.0 metres.
A recent review of the Madras area indicates increasing artisanal mining activity that suggests mineralized zones trending northerly, east-northeast and north-northeast in an area approximately 400 metres long and 200 metres wide. More drilling is planned in this area where a drill hole returned 2.53 g/t Au over 18.3 metres.
A follow-up hole at the Nema target (previous intercept of 1.17 g/t Au over 7.5 metres) returned 3.28 g/t Au over 1.0 metre. This intersection is related to a northeast-trending IP chargeability anomaly that can be traced for approximately 1.75 kilometres before extending off of the surveyed area, both to the northeast and to the southwest. More drilling is required in this area.
Don Dudek, Avion's senior vice-president exploration, stated: "The new zones that Avion intersected in the drilling and that Avion has not closed off the mineralized trend, demonstrates that we are still very much in an exploration stage and that there is a high likelihood that the Hounde property will return more positive surprises in the future. The key now is to continue to increase the mineralization footprint with the drilling we are doing."
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 km 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, 124 holes totalling approximately 18,600 have been drilled on the Hounde property with just under 50 per cent of the drill program completed. This program was designed to define additional inferred mineral resources, infill drill where necessary to support a preliminary economic study (PEA) and continue to extend the mineralized zones along strike. Approximately 60 per cent 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 and continuing community relations work.
Avion's 2012 $12.4-million (U.S.) exploration program is continuing with 216 holes totalling approximately 32,980 metres completed at the Hounde, Tabakoto and Kofi properties. The Hounde PEA has been initiated with completion expected in fourth quarter 2012 to allow for the reception of sufficient drill data.
Avion's procedures for handling core have been presented in previous news releases (see Avion's news release dated Sept. 10, 2011). Assays presented in the table have been capped at 30 g/t Au.
Don Dudek, PGeo, 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.
SUMMARY -- 2012 VINDALOO DRILL RESULTS
Hole No.(ii) Mineralized interval (m) True
From To Width width Au Capped(i)
(m) (g/t)
HA-12-06 89.5 90.4 0.9 0.6 1.16 1.16
HA-12-06 239.0 241.0 2.0 1.5 1.17 1.17
HA-12-06 269.0 271.0 2.0 1.5 1.35 1.35
HA-12-06 279.0 317.0 38.0 29.1 1.09 1.09
HA-12-07 111.0 115.0 4.0 3.0 2.43 2.43
HA-12-07 120.2 122.0 1.8 1.4 2.89 2.89
HA-12-07 237.0 269.0 32.0 25.3 1.50 1.50
HA-12-07 274.0 275.0 1.0 0.8 1.36 1.36
HA-12-24 76.9 78.0 1.2 0.8 16.10 16.10
HA-12-24 168.4 170.0 1.6 1.2 2.66 2.66
HA-12-24 194.0 197.4 3.4 2.5 3.12 3.12
HA-12-24 198.8 200.6 1.8 1.3 2.14 2.14
HA-12-24 207.0 208.5 1.5 1.1 13.80 13.80
HA-12-25 11.0 16.0 5.0 2.8 1.60 1.60
HA-12-25 49.0 52.5 3.5 2.0 3.42 3.42
HA-12-25 182.0 185.0 3.0 2.0 1.54 1.54
HD-12-01 72.0 73.0 1.0 0.7 1.47 1.47
HD-12-02 37.0 38.0 1.0 0.7 2.88 2.88
HD-12-02 87.0 88.0 1.0 0.7 2.28 2.28
HD-12-02 91.0 92.0 1.0 0.7 2.74 2.74
HD-12-02 104.0 123.0 19.0 13.3 0.86 0.86
HD-12-03 NSR NSR
HD-12-04 108.0 110.0 2.0 1.4 1.29 1.29
HD-12-05 NSR NSR
HD-12-06 44.0 45.0 1.0 0.7 2.46 2.46
HD-12-06 56.0 57.0 1.0 0.7 3.78 3.78
HD-12-06 62.0 64.0 2.0 1.4 3.47 3.47
HD-12-06 82.0 84.0 2.0 1.4 1.74 1.74
HD-12-06 92.0 93.0 1.0 0.7 4.37 4.37
HD-12-07 42.0 46.0 4.0 2.6 0.96 0.96
HD-12-07 54.0 55.0 1.0 0.6 2.12 2.12
HD-12-08 25.0 27.0 2.0 1.2 4.42 4.42
HD-12-08 36.0 37.0 1.0 0.6 2.40 2.40
HD-12-09 36.0 42.0 6.0 3.5 3.68 3.68
HD-12-10 60.0 64.0 4.0 2.3 0.93 0.93
HD-12-11 55.0 60.0 5.0 2.8 2.85 2.85
HD-12-12 NSR NSR
HD-12-13 NSR NSR
HD-12-14 72.0 73.0 1.0 0.6 2.50 2.50
HD-12-14 76.0 79.0 3.0 1.9 1.00 1.00
HD-12-14 87.0 93.0 6.0 3.8 4.97 4.97
HD-12-14 105.0 106.0 1.0 0.6 1.48 1.48
HD-12-15 45.0 49.0 4.0 2.4 31.27 17.19
HD-12-15 58.0 59.0 1.0 0.6 12.90 12.90
HD-12-16 NSR NSR
HD-12-17 40.0 41.0 1.0 0.7 9.84 9.84
HD-12-18 11.0 12.0 1.0 0.7 1.19 1.19
HD-12-19 15.0 25.0 10.0 5.7 4.97 4.97
HD-12-20 91.0 95.0 4.0 2.3 1.92 1.92
HD-12-20 105.0 109.0 4.0 2.3 4.17 4.17
HD-12-20 131.0 133.0 2.0 1.2 1.29 1.29
HD-12-21 61.0 62.0 1.0 0.6 3.32 3.32
HD-12-21 88.0 94.0 6.0 3.5 1.60 1.60
HD-12-21 124.0 133.0 9.0 5.1 3.43 3.43
HD-12-21 142.0 145.0 3.0 1.7 6.95 6.95
HD-12-22 41.0 45.0 4.0 2.9 2.13 2.13
HD-12-22 52.0 71.0 19.0 14.3 3.59 3.59
HD-12-22 85.0 87.0 2.0 1.5 3.42 3.42
HD-12-22 95.0 97.0 2.0 1.5 2.87 2.87
HD-12-23 49.0 80.0 31.0 18.3 2.18 2.18
Incl. 51.0 73.0 22.0 13.0 2.62 2.62
HD-12-24 0.0 6.0 6.0 3.5 1.16 1.16
HD-12-24 28.0 30.0 2.0 1.2 1.69 1.69
HD-12-25 28.0 38.0 10.0 6.1 1.53 1.53
HD-12-25 73.0 74.0 1.0 0.6 2.04 2.04
HD-12-26 0.0 1.0 1.0 0.6 1.08 1.08
HD-12-26 6.0 12.0 6.0 3.9 2.38 2.38
HD-12-27 37.0 39.0 2.0 1.4 4.48 4.48
HD-12-28 19.0 22.0 3.0 1.9 1.34 1.34
HD-12-29 26.0 30.0 4.0 2.9 1.10 1.10
HD-12-30 18.0 39.0 21.0 12.0 3.01 3.01
HD-12-30 98.0 99.0 1.0 0.6 1.22 1.22
HD-12-30 116.0 134.0 18.0 10.2 1.33 1.33
HD-12-30 126.0 128.0 2.0 1.1 5.68 5.68
HD-12-30 129.0 130.0 1.0 0.6 1.53 1.53
HD-12-30 132.0 133.0 1.0 0.6 1.56 1.56
HD-12-30 139.0 141.0 2.0 1.1 1.23 1.23
HD-12-30 144.0 145.0 1.0 0.6 1.31 1.31
HD-12-30 147.0 148.0 1.0 0.6 1.84 1.84
HD-12-30 149.0 150.0 1.0 0.6 1.88 1.88
HD-12-31 14.0 15.0 1.0 0.7 1.30 1.30
HD-12-31 20.0 23.0 3.0 2.2 2.63 2.63
HD-12-31 36.0 41.0 5.0 3.6 1.24 1.24
HD-12-32 22.0 23.0 1.0 0.5 1.40 1.40
HD-12-32 56.0 57.0 1.0 0.5 2.25 2.25
HD-12-32 75.0 95.0 20.0 9.9 2.45 2.45
HD-12-32 107.0 108.0 1.0 0.5 3.65 3.65
HD-12-33 76.0 77.0 1.0 0.7 2.12 2.12
HD-12-33 80.0 82.0 2.0 1.5 3.02 3.02
HD-12-33 87.0 88.0 1.0 0.7 3.05 3.05
HD-12-46 31.0 118.0 87.0 63.2 2.96 2.96
Incl. 85.0 118.0 33.0 24.0 3.89 3.89
HD-12-48 56.0 58.0 2.0 1.5 2.06 2.06
HD-12-48 69.0 74.0 5.0 3.7 0.78 0.78
HD-12-49 76.0 79.0 3.0 2.1 1.39 1.39
HD-12-50 86.0 93.0 7.0 5.2 0.97 0.97
HD-12-51 49.0 51.0 2.0 1.3 0.73 0.73
HD-12-52 31.0 35.0 4.0 2.8 0.68 0.68
HD-12-53 0.0 NSR
HD-12-54 52.0 53.0 1.0 0.7 1.63 1.63
HD-12-54 79.0 85.0 6.0 4.4 2.09 2.09
HD-12-55 51.0 52.0 1.0 0.8 2.36 2.36
HD-12-56 26.0 58.0 32.0 23.3 0.84 0.84
HD-12-57 41.0 47.0 6.0 4.5 2.92 2.92
HD-12-57 66.0 67.0 1.0 0.7 1.60 1.60
HD-12-58 NSR
HD-12-59 64.0 66.0 2.0 1.5 2.20 2.20
HD-12-59 83.0 84.0 1.0 0.7 1.42 1.42
HD-12-60 67.0 68.0 1.0 0.7 3.41 3.41
HD-12-61 40.0 42.0 2.0 1.4 0.92 0.92
HD-12-61 50.0 56.0 6.0 4.3 1.13 1.13
HD-12-62 58.0 59.0 1.0 0.7 1.29 1.29
HD-12-62 66.0 79.0 13.0 9.4 0.57 0.57
HD-12-63 9.0 12.0 3.0 2.3 3.15 3.15
HD-12-64 40.0 47.0 7.0 5.1 0.63 0.63
HD-12-66 60.0 61.0 1.0 0.7 3.28 3.28
HD-12-67 NSR
HD-12-68 81.0 82.0 1.0 0.6 2.50 2.50
HD-12-73 21.0 30.0 9.0 6.8 0.99 0.99
HD-12-73 49.0 50.0 1.0 0.8 1.61 1.61
HD-12-74 20.0 25.0 5.0 3.6 1.00 1.00
HD-12-74 32.0 40.0 8.0 5.8 1.96 1.96
HD-12-74 90.0 94.0 4.0 2.9 1.99 1.99
HD-12-74 138.0 140.0 2.0 1.5 1.85 1.85
HD-12-75 27.0 33.0 6.0 3.5 0.64 0.64
HD-12-75 36.0 37.0 1.0 0.6 1.18 1.18
HD-12-75 60.0 61.0 1.0 0.6 1.07 1.07
HD-12-75 66.0 67.0 1.0 0.6 1.25 1.25
HD-12-75 93.0 95.0 2.0 1.2 2.07 2.07
HD-12-76 143.0 151.0 8.0 5.0 2.72 2.72
HD-12-77 21.0 23.0 2.0 1.5 2.81 2.81
HD-12-77 42.0 44.0 2.0 1.5 2.00 2.00
HD-12-77 64.0 67.0 3.0 2.3 1.19 1.19
HD-12-77 73.0 82.0 9.0 6.9 0.58 0.58
HD-12-77 99.0 100.0 1.0 0.8 1.10 1.10
HD-12-79 NSR
HD-12-78 26.0 32.0 6.0 4.2 1.05 1.05
HD-12-78 50.0 53.0 3.0 2.1 2.41 2.41
HD-12-78 60.0 61.0 1.0 0.7 2.13 2.13
HD-12-78 64.0 65.0 1.0 0.7 2.02 2.02
HD-12-78 71.0 72.0 1.0 0.7 1.32 1.32
HD-12-78 74.0 75.0 1.0 0.7 1.11 1.11
HD-12-78 89.0 155.0 66.0 46.7 0.64 0.64
HD-12-80 47.0 48.0 1.0 0.7 2.41 2.41
HD-12-80 117.0 118.0 1.0 0.8 1.47 1.47
HD-12-80 126.0 127.0 1.0 0.8 2.20 2.20
HD-12-80 131.0 132.0 1.0 0.8 1.26 1.26
HD-12-80 159.0 160.0 1.0 0.7 1.02 1.02
HD-12-80 177.0 179.0 2.0 1.5 34.50 22.00
HD-12-81 73.0 74.0 1.0 0.8 2.01 2.01
HD-12-81 123.0 124.0 1.0 0.8 2.11 2.11
HD-12-81 141.0 142.0 1.0 0.8 2.18 2.18
HD-12-81 151.0 196.0 45.0 34.7 1.72 1.72
Incl. 151.0 184.0 33.0 25.5 2.10 2.10
HD-12-84 78.0 85.0 7.0 4.4 4.03 4.03
HD-12-84 96.0 97.0 1.0 0.6 1.29 1.29
HD-12-84 100.0 101.0 1.0 0.6 1.13 1.13
HD-12-84 104.0 108.0 4.0 2.5 3.30 3.30
HD-12-84 110.0 111.0 1.0 0.6 1.18 1.18
HD-12-84 115.0 120.0 5.0 3.2 3.88 3.88
HD-12-85 136.0 141.0 5.0 3.2 6.96 6.96
HD-12-96 80.0 81.0 1.0 0.5 5.90 5.90
HD-12-96 90.0 147.0 57.0 29.4 1.59 1.59
Incl. 107.0 112.0 5.0 5.0 6.30 6.30
HD-12-96 153.0 154.0 1.0 0.5 1.36 1.36
HD-12-96 161.0 162.0 1.0 0.5 1.98 1.98
HD-12-97 NSR NSR
HD-12-98 42.0 43.0 1.0 0.7 1.57 1.57
HD-12-98 57.0 61.0 4.0 2.8 25.60 8.10
HD-12-98 77.0 78.0 1.0 0.7 1.12 1.12
HD-12-98 121.0 129.0 8.0 5.7 3.73 3.73
HD-12-99 52.0 56.0 4.0 2.3 2.50 2.50
HD-12-99 81.0 83.0 2.0 1.1 3.54 3.54
HD-12-99 126.0 134.0 8.0 4.6 3.27 3.27
HD-12-99 155.0 156.0 1.0 0.6 1.80 1.80
HD-12-100 4.0 5.0 1.0 0.7 1.81 1.81
HD-12-100 134.0 135.0 1.0 0.7 1.43 1.43
HD-12-100 142.0 144.0 2.0 1.4 5.03 5.03
(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 equals no significant results
We seek Safe Harbor.
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