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Resource Clips

Posts tagged ‘avion’

Avion reports Burkina Gold Resource of 893,000 Oz Indicated, 712,000 Oz Inferred

December 21st, 2011

Resource Clips - essential news on junior gold mining and junior silver miningAvion Gold Corp TSX:AVR announced an updated resource estimate for its Houndé Project in Burkina Faso. Using a 0.5 g/t cutoff, the NI 43-101 shows open pit resources of

13.41 million tonnes grading 2.07 g/t gold for 893,000 ounces gold indicated
10.71 million tonnes grading 2.07 g/t gold for 712,000 ounces gold inferred

The 0.5 g/t cutoff was based on a gold price of $1,350 per ounce, a 90% process recovery, mining costs of US$1.50 per tonne, process costs of $15 per tonne and general and administrative costs of $4 per tonne. The estimate was also calculated using a 1 g/t cutoff, showing

9.85 million tonnes grading 2.55 g/t gold for 808,000 ounces gold indicated
7.49 million tonnes grading 2.63 g/t gold for 634,000 ounces gold inferred

President/CEO John Begeman remarked, “The increase in resources at Houndé exceeded our expectations as well as the guidance Avion provided to the market. This project just keeps getting better for Avion as we look forward to a PEA to be completed by mid 2012.”

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Michael McAllister
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by Greg Klein