23,600 Oz. in Q3
Avion Gold Produces 23,600 Ounces in Third Quarter of 2010 and Is on Target to Produce 75,000 to 85,000 Ounces This Year
Tue Oct 5, 8:00 AM
TORONTO, ONTARIO--(Marketwire - Oct. 5, 2010) - Avion Gold Corporation (TSX VENTURE: AVR.V)(OTCQX: AVGCF)("Avion" or the "Company") announces third quarter 2010 production ofapproximately 23,609 ounces of gold from its Tabakoto/Segala operationsin Mali, West Africa. This is an 89% increase in gold production overthe third quarter of 2009, when 12,517 ounces of gold was produced, and a6% increase in production over Q2 2010 where 22,222 ounces of gold wasproduced. Year to date gold production for 2010 is 61,540 ounces.
In September 2010, Avion processed 61,450 tonnes of ore at an averagegrade of 3.98 g/t Au, with a 97.2% mill recovery, for gold production of7,603 ounces. During the third quarter of 2010 the Company milled178,800 tonnes of ore at an average grade of 4.28 g/t Au, with a 96.2%mill recovery, compared to third quarter of 2009 production of 125,100tonnes of ore processed at an average grade of 3.25 g/t Au, with a 95.5%mill recovery.
Commenting on the production results, Mr. AndrewBradfield, Avion's Chief Operating Officer, stated: "Avion has producedover 21,000 ounces of gold per quarter since the beginning of thefourth quarter of 2009, with the exception of the first quarter of 2010.Consistent operational results are being achieved, and the Company iswell on track to produce its target of between 75,000 and 85,000 ouncesof gold in 2010. Avion is optimistic that it will produce at least20,000 ounces in Q4 this year."
Substantial advancement wasachieved during the third quarter towards the Company's plan to beginunderground development at the Tabakoto deposit, and to double itsprocess plant capacity. Avion's underground mine contractor is on siteand detailed design work for the plant upgrade is in progress. Theseprojects continued on schedule according to Avion's goal of achieving anannual run rate of 200,000 ounces of gold in 2012.
Avion plansto release its unaudited Q3 Financial Results on November 24, 2010.Management will also host a conference call for investors followingpublic release of the results.