Thursday, 27th March 2008 (1506 views)

A drilling programme on a major gold anomaly discovered on the Fougadian Permit in Mali has commenced.

Avnel that it has started the development on the area south of its Kalana Mine after detailed soil geochemical surveys conducted in 2007 outlined several kilometre-scaled gold-in-soil anomalies with coincident arsenic anomalies.

Plans for 2008 include 5,000m of reverse circulation percussion drilling and 400m of diamond drilling with a focus on the Avnel-1 anomaly, with results expected in the third quarter of the year.

"The Avnel-1 anomaly is the largest and the most important in terms of gold and arsenic values," the company said.

"It extends for almost 4km in a N-S direction and for 1.5km in an E-W direction."

It added that the highest gold-in-soil values of the anomaly are contained in three parallel linear bands and show a preferential NNW-SSE orientation.

Avnel reports that the Kalana Mine has a mineral resource base of 981,000 ounces in the measured and indicated category and 257,000 ounces in the inferred category, with these estimates in accordance with Canadian IMM Standards and National Instrument 43-101.

 

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