UpdateAvion Gold Corporation
TSX VENTURE:
AVR
Mar 02, 2010 09:02 ET
Avion Exploration Update
DJAMBAYE II MINERALIZED STRUCTURE EXTENDED TO 2,500 METRES - STILL OPEN ALONG STRIKE AND TO DEPTH
NEW GOLD ZONE PARALLEL TO DIOULAFOUNDOU DISCOVERED
TORONTO, ONTARIO--(Marketwire - March 2, 2010) - Avion Gold Corporation ("Avion" or "the Company") (TSX VENTURE:AVR),today announced that the 2010 exploration program at Tabakoto isproceeding as planned with 82 holes totaling 7,086 metres drilled as ofFebruary 24th. Recent highlights are as follows:
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Djambaye II Zone – 68 holes totaling 5,242 metres drilled. Preliminary results expected for about 600 samples in March. Mineralized structure traced for 2,500 metres and still open.
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New never tested 1 km+ long trend of artisanal workings discovered 200 metres west of the Djambaye II trend
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Newly excavated, NW-trending zone of artisanal workings, with abundant visible gold, discovered 160 metres away from the NW trending Dioulafoundou zone
Avion's2010 Tabakoto area exploration program has been designed to compriseapproximately 60,000 metres of core and RC drilling. Exploration workto date has focused on the recently discovered Fougala 1 zone (AvionNews Release Jan. 18, 2010) and along a 700 metre long section of theDjambaye II trend where the Dajmbaye II zone is represented by two,closely spaced, higher grade gold zones. This area has the potential toprovide open-pittable gold mineralization.
Avion'sdrilling has also traced the Djambaye II mineralized structure foranother 700 metres to the north for a total drilled length of 2,500metres. This mineralized trend, which is open to the north, south andat depth, will be further tested with widely spaced holes along strikeand to 200 metres depth.
Field reconnaissance 250metres west of the Djambaye II zone area has identified a parallel,northerly-trending zone of artisanal workings that can be traced forjust over 1,000 metres. Both current and historic artisanal pits to 8metres depth were observed, containing significant amounts of quartzvein debris and well mineralized rock. Rerverse circulation drilling isplanned to test this target.
A new, northwest-trendingzone of artisanal pits and shafts was discovered in the Dioulafoundouarea. Artisanal miners are recovering fractured and mineralized felsicintrusion with abundant visible gold. This target area is located 160metres from the known northwest-trending Dioulafoundou zone (seefigure). Additional review will be carried out with a goal to drilltest this new target area.
The 2010 drill program isdesigned to test a series of conceptual targets on the property, extendknown zones and test in detail known zones that could be developed intoopen pittable deposits.
Hounde Property Exploration
Uponsigning a definitive agreement Avion plans to carry out an airbornegeophysical magnetic and radiometric survey of the property. Data fromthis survey will be used in conjunction with historic drill,geochemical and geological data to develop new drill targets, the bestof which Avion plans to test in 2010. Drilling is also planned tofurther test the known zones, especially the Vindaloo zone; this zone,which has only been tested to a depth of less than 100 metres along a400 metre strike, has a best intersection of 8.91 g/t Au over 29.0metres and an average grade of 4.71 g/t Au over 21.0 metres corelength. Mineralization remains open along strike and at depth. Truewidth is estimated at 70% of core length. More than 7,000 metres ofdrilling is planned for this property in 2010.
DonDudek, Senior Vice President, Exploration commented: "The expanded 2010exploration program will allow Avion to delineate known zones and testnumerous new exploration targets that have been developed as a resultof Avion's increasing knowledge of the mineralized zones and systems inthe property area. As well, in conjunction with the recently acquiredHounde property, Avion will have further opportunities to increase theoverall resource base"
Don Dudek, P.Geo., Senior VicePresident, Exploration of Avion has reviewed and approved the technicaldata presented in this press release.
About Avion Gold Corporation
Avionis a Canadian-based gold company focused in West Africa. The Companyholds 80% of the Tabakoto and Segala gold projects in Mali. Goldproduction at these projects has commenced, with approximately 100,000ounces of production forecast for 2010. Avion has a highly skilledmanagement team, with a focus on growth and consolidation within WestAfrica.