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Press Release Source: Avion Gold Corporation On Tuesday June 21, 2011, 7:00 am
TORONTO, ONTARIO--(Marketwire - June 21, 2011) - Avion Gold Corporation (TSX:AVR - News; OTCQX:AVGCF) ("Avion" or the 'Company') is pleased to announce the results from 25 core and reverse circulation holes totaling approximately 5,220 metres, drilled primarily to test the Tabakoto Deposit's NW- and NE-trending structures, under and proximal to, the Tabakoto Pit. Drilling was focused with a goal to convert Inferred mineral resources to Measured and Indicated mineral resources for the NW1, NW2, NE1, NE2, Dabo and Tabakoto South cross-structures.
Highlighted significant results include the following:
-- 9.17 g/t Au over 3.0 metres
-- 15.68 g/t Au over 4.9 metres
-- 17.50 g/t Au over 1.6 metres
-- 20.88 g/t Au over 5.7 metres
-- 8.61 g/t Au over 3.6 metres
-- 10.43 g/t Au over 3.3 metres
-- 36.04 g/t Au over 3.0 metres
-- 29.04 g/t Au over 2.0 metres
-- 12.16 g/t Au over 6.0 metres
-- 9.95 g/t Au over 6.1 metres
-- 6.69 g/t Au over 9.0 metres
During the first four months of 2011, Avion completed 15 core holes totaling 3,651 metres and ten reverse circulation holes totaling 1,571 metres to test the continuity of the mineralized cross-structures below and proximal to the Tabakoto pit. Reference to some of this drilling was made on May 2, 2011 when Avion announced an updated resource estimate for the Tabakoto Deposit NW zones, which used assay data from core holes T-11-01 to T-11-10. These holes have better-defined the gold-bearing northwest trending cross-structures and allowed Avion to upgrade significant additional underground Measured and Indicated mineral resources of 81,200 ounces of gold for the Tabakoto NW zones (see Avion news release May 3, 2011).
The high grades and multiple intersections, from this round of drilling, are consistent with what we find in the Tabakoto pit area. A summary of the results are presented in the attached table.
One core hole was drilled to test the western end of the NE1 and NE2 zones. This hole succeeded in intersecting two closely spaced, good grade gold zones at the NE2 zone with intercepts of 4.4 g/t Au over 4.5 metres and 5.81 g/t Au over 4.5 metres. The NE 1 zone was not intersected.
Nine reverse circulation holes were drilled to test the Dabo zone and western end of the Tabakoto south zone. For the most part, these zones are relatively narrow in this area with the best intercepts of 21.33 g/t Au over 1.0 metre and 8.28 g/t Au over 2.0 metres. However, another, new zone was intercepted which returned 5.9 g/t Au over 7.0 metres. A review of this new target area will be carried out.
TRC-11-04, which targeted an inferred cross-structure to the south of the Tabakoto South zone, intersected a narrow, near surface zone, which returned 1.81 g/t over 1.0 metres.
Don Dudek, Avion's Senior Vice President, Exploration stated: "What is striking about these and many of the holes drilled in the Tabakoto pit area, are the abundance of, as of yet un-modeled, gold-bearing zones. Interpretation of these new zones is now being advanced as we gain information from the mining development of the better-defined, gold-bearing cross structures. It is our belief that these new zones will provide additional mineable gold resources as we move the Tabakoto Mine to full underground production in early 2012."
Avion's procedures for handling reverse circulation drill chips and drill core have been presented in previous news releases (for e.g. see Avion news release dated April 5, 2011). The core samples were delivered to the Company's mine site laboratory at Tabakoto. Avion's results from the on-site laboratory have been of consistent high quality, with assay standards returning values well within accepted ranges.
Avion's 2011 approximately 75,000 metre drill focused exploration program is well underway with 256 core and reverse circulation ('RC') holes totaling approximately 35,440 metres of drilling completed. Drilling completed to date is split between Avion's Tabakoto (Mali), Kofi (Mali) and Hounde (Burkina Faso) properties An additional drill rig has been sourced to accelerate and expand the 2011 Hounde drill programs.
Avion's maiden reserve estimate is scheduled to be released at the end of June, 2011.