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Avanti Mining Inc
Symbol AVT
Shares Issued 423,503,893
Close 2011-11-16 C$ 0.125
Market Cap C$ 52,937,987
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Avanti Mining drills 85.4 m of 0.37% Mo at Kitsault

2011-11-16 08:47 ET - News Release

Mr. Craig Nelsen reports

AVANTI INTERSECTS 85.4 METERS AVERAGING 0.378% MOLYBDENUM AT ROUNDY CREEK PROSPECT ON THE KITSAULT MINE PROPERTY

Avanti Mining Inc. has received assays from the next 12 holes of its 2011 drill program at the Kitsault mine molybdenum project located in northwest British Colombia. This release includes the results for five holes drilled south of Patsy Creek at the Kitsault mine and seven holes drilled at the Roundy Creek prospect located about four kilometres west of the Kitsault mine on Avanti's landholdings. The company is awaiting the results for the remaining seven holes at Kitsault and five holes at Roundy Creek that should be completed and released by the end of November.

Drill highlights include the following.

Roundy Creek results:

  • Hole RC11-14 intersected 147.8 metres averaging 0.104 per cent molybdenum and 2.2 grams per tonne silver.
  • Hole RC11-15 intersected 138 metres averaging 0.068 per cent molybdenum and 1.8 g/t silver.
  • Hole RC11-16 intersected 96 metres averaging 0.187 per cent molybdenum and 1.4 g/t silver that included 39 metres averaging 0.395 per cent molybdenum and 1.1 g/t silver.
  • Hole RC11-17 intersected 48.8 metres averaging 0.091 per cent molybdenum and 1.0 g/t silver but had to be abandoned because of ground conditions just as it encountered higher grade material. The azimuth was changed by five degrees and the hole redrilled as RC11-17A described below.
  • Hole RC11-17A intersected 85.4 metres averaging 0.378 per cent molybdenum and 27.8 g/t silver that included 40.4 metres at 0.731 per cent molybdenum and 55.6 g/t silver within which was nine metres averaging 2.25 per cent molybdenum. This is a new zone of high-grade mineralization not detected by previous drilling.
  • Hole RC11-18 intersected 109.8 metres averaging 0.100 per cent molybdenum and 1.4 g/t silver.
  • Hole RC11-19 intersected 69 metres averaging 0.058 per cent molybdenum and 1.0 g/t silver.

Kitsault results -- south of Patsy Creek

  • Hole K11-22 intersected four distinct zones including 89.9 metres averaging 0.062 per cent molybdenum and 5.2 g/t silver, 30 metres averaging 0.078 per cent molybdenum and 6.3 g/t silver, 225 metres averaging 0.055 per cent molybdenum and 12.6 g/t Ag and lastly, 140.5 metres averaging 0.078 per cent molybdenum and 17.2 g/t silver. The hole bottomed in mineralization and except for approximately 57 metres of below cut-off material was mineralized for its entire 542.6-metre length.
  • Hole K11-25 intersected 188.4 metres averaging 0.059 per cent molybdenum and 6.0 g/t silver and bottomed in mineralization.
  • Hole K11-27 intersected two zones but was drilled south of the deposit to explore untested ground in that direction. The two zones returned 24 metres averaging 0.032 per cent molybdenum and 6.4 g/t silver and 21 metres averaging 0.031 per cent molybdenum and 7.5 g/t silver.
  • Hole K11-29 intersected 149.4 metres averaging 0.059 per cent molybdenum and 6.0 g/t silver and bottomed in mineralization.
  • Hole K11-36 intersected two distinct zones including 174 metres averaging 0.071 per cent molybdenum and 6.0 g/t silver and 261 metres averaging 0.079 per cent molybdenum and 6.7 g/t silver and bottomed in mineralization. Except for an 18-metre section of below cut-off material, it was mineralized from 72 metres to its end at 524.3 metres.

"Roundy Creek continues to reveal high-grade holes as we systematically advance toward the western high-grade portions of the deposit," said Craig J. Nelsen, president and chief executive officer of Avanti. "Hole RC11-17A defined another new zone of UST or brain rock that contains ultrahigh-grades which is one of the intents of this drill program. The last hole of the season at Roundy Creek (RC11-24) encountered visual zones of massive sulphide molybdenum mineralization over several metres for which we anxiously await assays. Results presented in this release also include the first five holes drilled on the southern part of Kitsault, south of Patsy Creek that in the past has only had access by helicopter and as a result lacked drill density, and contains a significant amount of inferred resource within our present reserve pit. These holes will help define the southern limits of mineralization and generally confirm and improve our existing interpretations in this area."

Unidirectional solidification texture (UST) is a primary magmatic texture found at the peripheries of certain felsic intrusions (such as Climax and Henderson where it has been referred to as brain rock). This feature usually manifests as bands of barren quartz alternating with parallel bands of quartz plus feldspar, with crystal growth in the direction of the intrusion's centre. In rare instances, the quartz layers also contain base or precious metals. At Roundy Creek, this year's drilling has confirmed that the strongest mineralization is in UST quartz layers containing molybdenite. This feature results in variably continuous zones, several to tens of metres thick, of grades in excess of 1 per cent Mo. The purpose of the 2011 drill program at Roundy Creek is twofold; first to reproduce and verify results from the historical database of 149 drill holes to allow the calculation of a new NI 43-101 resource, and second, to be able to define the geometries of UST zones encountered in the past in order to constrain their influence on this new resource. A previous example of this type of mineralization was encountered during the company's 2010 drill program (RC10-02 -- drilled about 42 metres north of RC11-17A) that is repeated in the table and is geologically very similar to the zone encountered in RC11-17A.

Drill results

Maps showing the location of these drill holes relative to the previous drilling by all prior operators at Kitsault are available at the company's website.

The detailed drill results for the holes summarized above are presented in the table.


            2011 KITSAULT CALCULATED DRILL COMPOSITES

                        From          Length
Hole No.         TD (m)   (m)  To (m)   (m)    % Mo  ppm Ag

K11-22           542.6    6.2   96.0    89.9  0.062    5.2
incl. (0.05 c/o)         12.0   75.0    63.0  0.069    4.4
and                     111.0  141.0    30.0  0.078    6.3
incl. (0.05 c/o)        111.0  141.0    30.0  0.078    6.3
incl. (0.1 c/o)         123.0  141.0    18.0  0.079    7.2
and                     153.0  378.0   225.0  0.055   12.6
incl. (0.05 c/o)        153.0  243.0    90.0  0.077   18.4
incl. (0.1 c/o)         192.0  201.0     9.0  0.133   21.2
and                     402.0  542.5   140.5  0.078   17.2
incl. (0.05 c/o)        402.0  542.5   140.5  0.078   17.2
incl. (0.1 c/o)         465.0  483.0    18.0  0.124    5.1
K11-25           194.5    6.1  194.5   188.4  0.059    6.0
incl. (0.05 c/o)          9.0  159.0   150.0  0.061    6.4
and incl. (0.05 c/o)    177.0  192.0    15.0  0.073    4.3
K11-27           149.4   51.0   75.0    24.0  0.032    6.4
and                      99.0  120.0    21.0  0.031    7.5
K11-29           155.5    6.1  155.5   149.4  0.059    6.0
incl. (0.05 c/o)         33.0  129.0    96.0  0.067    3.9
incl. (0.1 c/o)          81.0   96.0    15.0  0.105    6.2
K11-36           524.3   72.0  246.0   174.0  0.071    6.7
incl. (0.05 c/o)         72.0  216.0   144.0  0.076    6.6
incl. (0.1 c/o)         159.0  174.0    15.0  0.114    7.9
incl. (0.05 c/o)        228.0  243.0    15.0  0.057    9.5
and                     261.0  522.0   261.0  0.079    6.7
incl. (0.05 c/o)        261.0  276.0    15.0  0.078   19.1
incl. (0.05 c/o)        288.0  345.0    57.0  0.072    1.7
incl. (0.1 c/o)         288.0  297.0     9.0  0.110    4.7
incl. (0.05 c/o)        363.0  510.0   147.0  0.096    8.1
incl. (0.1 c/o)         393.0  465.0    72.0  0.136   13.2

      2011 ROUNDY CREEK CALCULATED DRILL COMPOSITES

                         From          Length        ppm
Hole No.         TD (m)   (m)  To (m)   (m)    % Mo   Ag

RC11-14           175.3    2.2  150.0   147.8 0.104   2.2
incl. (0.05 c/o)           3.0  117.0   114.0 0.124   2.0
incl. (0.1 c/o)           51.0   90.0    39.0 0.209   2.3
RC11-15           172.1   12.0  150.0   138.0 0.068   1.8
incl. (0.05 c/o)          54.0  141.0    87.0 0.091   1.9
incl. (0.1 c/o)           72.0  105.0    33.0 0.155   2.1
RC11-16           165.8   33.0  129.0    96.0 0.187   1.3
incl. (0.05 c/o)          75.0  129.0    54.0 0.302   1.2
incl. (0.1 c/o)           84.0  123.0    39.0 0.395   1.1
RC11-17            55.8    7.0   55.8    48.8 0.091   1.0
incl. (0.05 c/o)          12.0   55.8    43.8 0.098   1.0
incl. (0.1 c/o)           36.0   55.8    19.8 0.141   0.8
RC11-17A           88.3    3.0   88.4    85.4 0.378  27.8
incl. (0.05 c/o)          15.0   88.4    73.4 0.434  32.0
incl. (0.1 c/o)           48.0   88.4    40.4 0.731  55.6
incl. (1.0% c/o)          78.0   87.0     9.0 2.247   2.0
RC11-18           134.7    1.2  111.0   109.8 0.100   1.4
incl. (0.05 c/o)           1.2  105.0   103.8 0.104   1.4
incl. (0.1 c/o)            9.0   66.0    57.0 0.132   1.3
RC11-19            96.6    6.0   75.0    69.0 0.058   1.0
incl. (0.05 c/o)           6.0   57.0    51.0 0.067   0.9


          2010 ROUNDY CREEK CALCULATED DRILL COMPOSITES (SELECTED)

                             From    To   Length         ppm
Hole No.            TD (m)   (m)   (m)    (m)    % Mo    Ag

RC10-02             328.9    3.0  84.0    81.0  0.383   1.0
incl. (0.1 c/o)             21.0  69.0    48.0  0.611   1.0
incl. (1.0% c/o)            48.0  69.0    21.0  1.212   1.4

1. Principal composites are calculated at a cut-off grade of 0.027
   per cent molybdenum as stated in the 2010 Kitsault mine 
   feasibility study dated Dec. 15, 2010, prepared by AMEC 
   Americas Ltd. and allow inclusion of up to nine metres of 
   material below that grade. Other cut-offs (internal to the main 
   0.027 per cent zones) at 0.05 per cent and 0.10 per cent 
   molybdenum use the same compositing rules. Multiple 
   intersections in a hole are denoted by the word "and." As 
   Roundy Creek is intended to be a high-grade satellite feed, 
   cut-offs at 0.05 per cent or 0.10 per cent molybdenum are more 
   appropriate. Cut-offs at 1.0 per cent are intended to highlight 
   the ultrahigh-grade UST zones.

2. Gaps in the Kitsault hole number sequence indicate drilling 
   conducted elsewhere on the property for condemnation purposes 
   that do not contain significant mineralization.

3. Approximate horizontal widths at Kitsault can be calculated by 
   multiplying the drill thickness of a minus-45-degree inclined hole 
   times 0.7 and a minus-60-degree inclined hole by 0.5. Roundy Creek 
   horizontal widths are unknown at this point as the geologic model 
   is being developed.

4. Silver results on the table are included for informational purposes 
   only. Please consult the company's recent Kitsault mine feasibility 
   study for a discussion on the possibility of silver byproduct 
   recovery. No revenues have been assumed for silver in the Kitsault 
   feasibility study but metallurgical test that may develop a saleable 
   silver byproduct are under way.

All of the sawn half core drill samples (dominantly HQ size) collected by company personnel are delivered to the ALS Minerals sample preparation lab in Terrace, B.C., or Anchorage, Alaska, where they are logged into the computer tracking system, crushed, split and a pulp sample prepared. Various quality control tests for crushing and labelling accuracy are performed at this lab. The pulp samples are then sent to the ALS Minerals laboratory in Vancouver, B.C., for 33-element analysis by inductively couple plasma -- atomic emission spectroscopy. ALS Minerals is an ISO/17025 certified laboratory. ALS monitors quality control through the introduction of blanks, standards and duplicate sampling. In addition, Avanti personnel routinely insert hidden blanks and standards into the sampling stream. Bruce Davis, FAusIMM, is responsible for analyzing the quality assurance/quality control aspects of this work and Ken Collison, PEng, senior vice-president project development, is responsible for the technical information in this press release. Both individuals are qualified persons as defined by NI 43-101.

We seek Safe Harbor.

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