Avion Gold Corporation TSX:AVR announced updated NI 43-101 mineral reserves and resources for its Tabakoto Project in Mali, West Africa. The project now has measured and indicated resources of 1.12 million ounces gold, containing proven and probable reserves of 827,100 ounces. The project also has inferred resources of 1.12 million ounces gold.
President/CEO John Begeman commented, “The gold resource grades we see at Tabakoto are some of the best in West Africa and again highlight why Avion has chosen to focus in this part of Mali and why we can continue to build value through the drill bit. The company has over three years of operating experience at the Tabakoto Project, and has demonstrated that the mine is profitable. Production from the Tabakoto underground mine and Djambaye open pit were both successfully started this year with underground production planned to commence at the Ségala deposit in 2013. Additionally, Avion is working toward defining initial reserves on the nearby Kofi property in 2012 where Avion has defined an indicated mineral resource of 500,000 ounces of gold, and an inferred mineral resource of 702,000 ounces of gold.”
Manager, Investor Relations
by Ted Niles