SAINT PETER PORT, GUERNSEY–(Marketwired – March 9, 2017) – Avnel Gold Mining Limited (“Avnel” or the “Company”) (TSX:AVK) is pleased to report new results of the 2016 Kalanako drilling programme with the receipt of the remainder of outstanding assays. The drill programme objective is to provide additional information in support of an updated Mineral Resource Estimate for its Kalanako prospect in south-western Mali, West Africa.
Located less than 3 km northeast of the Kalana Main Project proposed in the Kalana OFS-DFS, the Kalanako prospect is an old area of traditional mining activity with a March 2015 Mineral Resource Estimate of an Inferred in-situ resource of 0.07 Moz (0.38 Mt grading 5.55 g/t Au). The high-grade and close proximity makes Kalanako our highest priority advanced stage exploration target with the potential to become a high-grade open-pit supplemental satellite deposit delivering additional ore to the Kalana Main operation, which could help increase average gold production or extend the mine life.
Kalanako Drill Programme Highlights:
- All assay have been received, updated geological model is in progress.
- Infill drilling continues to deliver high grades over long intersections in the South-East and in the North-West Zones
- New High-grade gold mineralization intersected in the Central and Central South and Central North Zones outside the main resource pit shells
Howard Miller, Avnel’s Chairman and CEO said, “I am pleased to report that we have now received all the assays from the 2016 drilling programme successfully concluded at the Kalanako deposit. These new results from the remainder of our 2016 drill program at Kalanako are very encouraging as being essentially located outside the existing resource pits. Infill results in the North West should support the conversion of a large part of this inferred resource into Measured and indicated categories. The geological model is being updated and we are now looking forward to a new Mineral Resource Estimate in mid-April.”
New Exploration Results from Kalanako Deliver Positive Results
The results reported in this news release reflect the second and third batches of assays from 60 holes over 6,447m from a total programme of 82 holes over 8,635m. These second and third batches represent nearly three-quarter of the total drill programme (holes RC226 to RC285). Maps of the general layout of the drill program, the location of individual drill holes and significant intersections is provided in figures 1 (A & B) and 2 near the end of this news release. Drill hole locations for the entire drill program, IAMGOLD’s 2010 to 2012 and Avnel’s 2016 drill programmes, and geophysical gradient IP are respectively presented in figures 2 and 3. Select composite assays and related drill hole information is presented in the tables at the end of this news release.
Results reported in the existing MRE pit shells (North West and South East Zones) are encouraging and should support the conversion of a large part of the Inferred Resource into Measured or Indicated categories. High grade results reported outside the existing MRE pit shells (Central and Central South and Central North Zones) provide a significant opportunity to improve known mineralisation into large portions of the bock model that were not classified as resources.
Significant intervals (>25g/t.m) from the South-East Zone (inside the main 2015 resources pit shells):
- KO-SOM-RC230: 6.7 g/t Au over 13 m
Including: 73.8 g/t Au over 1 m
and: 2.4 g/t Au over 29 m
Including: 11.6 g/t Au over 1 m and 13.9 g/t Au over 1 m
- KO-SOM-RC231: 1.2 g/t Au over 39 m
and: 7.3 g/t Au over 4 m
Including: 20.6 g/t Au over 1 m
- KO-SOM-RC232: 2.3 g/t Au over 11 m
Significant intervals (>25g/t.m) from the Central South and Central Zones (outside the main 2015 resources pit shells):
- KO-SOM-RC236: 14.6 g/t Au over 2 m
- KO-SOM-RC239: 4.5 g/t Au over 6 m
Including: 20.6 g/t Au over 1 m
- KO-SOM-RC240: 29.7 g/t Au over 11 m
Including: 154 g/t Au over 2 m
Significant intervals (>25g/t.m) from the Central North Zone (outside the main 2015 resources pit shells):
- KO-SOM-RC253: 22.6 g/t Au over 15 m
Including: 155 g/t Au over 2 m
- KO-SOM-RC254: 1.6 g/t Au over 20 m
Including: 12.1 g/t Au over 1 m
Significant intervals (>25g/t.m) from the North West Zone (inside the main 2015 resources pit shells):
- KO-SOM-RC261: 3.7 g/t Au over 25 m
Including: 30.7 g/t Au over 2 m
- KO-SOM-RC262: 3.9 g/t Au over 15 m
Including: 12.4 g/t Au over 1 m
and: 15.4 g/t Au over 6 m
Including: 38.0 g/t Au over 2 m
- KO-SOM-RC264: 6.0 g/t Au over 27 m
Including: 15.6 g/t Au over 8 m
- KO-SOM-RC265: 2.0 g/t Au over 15 m
Including: 13.4 g/t Au over 1 m
Significant intervals (>25g/t.m) from the South Zone (outside the main 2015 resources pit shells):
- KO-SOM-RC272: 1.1 g/t Au over 25 m
A summary of select composite assays and drill hole information from the 2016 drilling campaign are presented in tables 1 and 2, respectively.
Regional Exploration:
As Avnel commences construction on Kalana Main we will be accelerating our regional geology programme to progress our portfolio of exploration targets. To date, only 3 of our 30 targets have been partially drill tested, all successful. Exploration work is being conducted to evaluate and rank our premier targets.
A first group of 4 prospects (Solomanina, Tonda, Bandiala, Kodialani which is the NW extension of Kalanako) have been selected for an advanced geochemical survey. Sampling grids (5 x 5 or 10 x 10m) have been implemented to sample the rejected quartz and tailing domes produced by historical and traditional mining activities in order to localise the ore shoot inside these large prospects. 1,100 grab samples and 3,500 tailing dome samples have been collected at Solomanina, Tonda and Bandiala; 320 grab samples and 1,070 tailing dome samples from Solomanina have been assayed and QAQC validated. First results are encouraging.
Exploration and QA/QC Programmes
Exploration programmes are conducted under the supervision of Dr. Olivier Féménias, EurGeol 1115, Avnel’s Vice-President, Geology. Dr. Féménias, is a Qualified Person as defined by National Instrument 43-101 of the Canadian Securities Administrators. Strict sampling and QA/QC protocol are followed, including the insertion of standards, blanks, and duplicates on a regular basis as well as laboratory visit by senior geologists. Sample intervals are usually 1.0 m. Samples are prepared on site and collected by BIGS Global Burkina SARL (“BIGS Global”) and transported to Ouagadougou in Burkina Faso for analysis. Analytical method is a 2-kilogram bottle-roll cyanidation using a LeachWELL catalyst. The leach residues from all samples with a grade in excess of 0.1 g/t Au were prepared by BIGS Global and split to 50 grams and then analysed by standard Fire Assay. Composites presented in the assay results tables include intervals with a grade x thickness equal or greater than 5 grams of gold per tonne x metre (“g/t.m”) with a minimum grade of 0.65 g/t Au over a 1 m minimum width with a maximum internal dilution of 3 m. No assay result was capped. Due to the exploratory nature of this programme the true width of the mineralisation has not been reported. The intersections presented herein may not represent the true width of mineralisation.
About Avnel Gold
Avnel Gold is a TSX-listed gold mining, exploration and development company with operations in south-western Mali in West Africa. The Company’s focus is to develop its 80%-owned Kalana Main Project from a small underground mine into a low-cost, high-grade, open pit mining operation. The Company is also advancing exploration on several nearby satellite deposits on the 387 km2 30-year Kalana Exploitation Permit.
On January 9, 2017, the Company reported the results of an Optimized Feasibility Study (“OFS”) prepared by Snowden Mining Industry Consultants. The OFS outlines an 18-year open-pit mine life at the Kalana Main Project recovering 1.82 million ounces of gold at an average “all-in sustaining cost” of $561 per ounce over the first five years of steady state production and $730 per ounce over the life of mine with an initial capital cost of $171 million. Utilising a gold price of $1,200 per ounce and a 5% discount rate, the DFS reported a net present value (“NPV”) of $321 million after-tax and imputed interest, and an internal rate of return (“IRR”) of 50% on a 100% project basis.
On March 30, 2016, the Company reported a Mineral Reserve estimate and the results of a Definitive Feasibility Study (“DFS”) prepared by Snowden Mining Industry Consultants. The DFS outlines an 18-year open-pit mine life at the Kalana Main Project recovering 1.82 million ounces of gold at an average “all-in sustaining cost” of $595 per ounce over the first five years of steady state production and $784 per ounce over the life of mine with an initial capital cost of $196 million. Utilising a gold price of $1,200 per ounce and a 5% discount rate, the DFS reported a net present value (“NPV”) of $257 million after-tax and imputed interest, and an internal rate of return (“IRR”) of 38% on a 100% project basis
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained in this news release.
CAUTIONARY STATEMENTS
Forward-Looking Statements
This news release includes certain “forward-looking statements”. All statements, other than statements of historical fact, included in this release, including the future plans and objectives of Avnel Gold, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Avnel Gold’s expectations include, among others, risks related to international operations, the actual results of current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined as well as future prices of gold and silver, as well as those factors discussed in the section entitled “Risk Factors” in Avnel Gold’s most recently completed Annual Information Form, which is available on SEDAR (www.sedar.com). Although Avnel Gold has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Technical Information
Except where indicated, the disclosure contained or incorporated into this news release of an economic, scientific or technical nature, has been summarised or extracted from the National Instrument 43-101 – Standards of Disclosure for Mineral Projects(“NI43-101”) compliant technical report titled “NI43-101 Technical Report on Kalana Main Project”, dated effective 30 March 2016 (the “Kalana Technical Report”), prepared by Snowden Mining Industry Consultants (Pty) Ltd. (“Snowden”), Denny Jones Ltd (“Denny Jones”), DRA Projects SA (Pty) Ltd (“DRA”) and Epoch Resources (Pty) Ltd (“Epoch Resources”). The Kalana Technical Report was prepared under the supervision of Mr. Allan Earl (Executive Consultant – Mining Engineering of Snowden), Mr. Ivor Jones (Executive Consultant – Applied Geosciences of Denny Jones (Pty) Limited), Mr. Glenn Bezuidenhout (Principal Process Engineer of DRA), Mr. Sybrand van der Spuy (Civil Engineer of DRA), Mr. Guy Wiid (Principal Consultant -Tailings and Waste Rock Facilities of Epoch Resources), and Mr. Stephanus (Fanie) Coetzee (Principal Consultant -Environmental and Social of Epoch Resources), all of whom are independent “Qualified Persons” as such term is defined in NI 43-101. Readers should consult the Kalana Technical Report to obtain further particulars regarding the Kalana Project, which contains the Kalana Main Project, the Kalana Mine, plus a number of mineral exploration prospects. The Company filed the Kalana Technical Report in support of the Feasibility Study and the ESIA on SEDAR on May 6, 2016.
Table 1A: Kalanako Drilling (batch 2) – Select Composite Intervals
Includes intervals >5 g/t.m, cut-off of 0.65 g/t Au, maximum 3m of internal dilution, no assay are capped
| Drill Hole ID | From (m) |
To (m) |
Interval (m) |
Grade (g/t Au) |
Metal (g/t.m) |
Comment | Zone | |||||||
| KO-SOM-RC226 | No significant interval | Central S | ||||||||||||
| KO-SOM-RC227 | No significant interval | Central S | ||||||||||||
| KO-SOM-RC228 | 88 | 92 | 4 | 2.41 | 9.7 | Central S | ||||||||
| KO-SOM-RC229 | 37 | 44 | 7 | 3.15 | 22.0 | inc 1m@15.1g/t | SE | |||||||
| KO-SOM-RC230 | 79 | 92 | 13 | 6.73 | 87.5 | inc 1m@73.8g/t | SE | |||||||
| KO-SOM-RC230 | 97 | 126 | 29 | 2.36 | 68.4 | inc 1m@11.6g/t and 1m@13.9g/t | SE | |||||||
| – | 58 | 71 | 13 | 1.70 | 22.1 | SE | ||||||||
| KO-SOM-RC231 | 35 | 74 | 39 | 1.24 | 48.5 | SE | ||||||||
| – | 80 | 84 | 4 | 7.34 | 29.3 | inc 1m@20.6g/t | SE | |||||||
| – | 12 | 13 | 1 | 7.99 | 8.0 | SE | ||||||||
| KO-SOM-RC232 | 94 | 105 | 11 | 2.26 | 24.9 | inc 1m@12.1g/t | SE | |||||||
| – | 38 | 47 | 9 | 0.78 | 7.0 | SE | ||||||||
| KO-SOM-RC233 | 74 | 78 | 4 | 3.52 | 14.1 | inc 1m@10.1g/t | SE | |||||||
| KO-SOM-RC234 | 41 | 50 | 9 | 0.79 | 7.1 | inc 4m@0.27g/t | SE | |||||||
| – | 7 | 17 | 10 | 0.63 | 6.3 | inc 4m@0.31g/t | SE | |||||||
| KO-SOM-RC235 | 6 | 9 | 3 | 2.73 | 8.2 | SE | ||||||||
| KO-SOM-RC236 | 46 | 48 | 2 | 14.62 | 29.2 | Central S | ||||||||
| KO-SOM-RC237 | No significant interval | Central | ||||||||||||
| KO-SOM-RC238 | 76 | 80 | 4 | 1.41 | 5.6 | Central | ||||||||
| KO-SOM-RC239 | 37 | 43 | 6 | 4.49 | 26.9 | inc 1m@20.6g/t | Central | |||||||
| – | 23 | 30 | 7 | 1.93 | 13.5 | Central | ||||||||
| KO-SOM-RC240 | 5 | 16 | 11 | 29.73 | 327.0 | inc 2m@154g/t | Central | |||||||
| KO-SOM-RC241 | No significant interval | Central | ||||||||||||
| KO-SOM-RC242 | 96 | 106 | 10 | 1.37 | 13.7 | Central | ||||||||
| KO-SOM-RC242 | 110 | 120 | 10 | 0.64 | 6.4 | Central | ||||||||
| KO-SOM-RC243 | 53 | 77 | 24 | 0.75 | 17.9 | Central | ||||||||
| KO-SOM-RC244 | No significant interval | Central | ||||||||||||
| KO-SOM-RC245 | No significant interval | Central | ||||||||||||
| KO-SOM-RC246 | 64 | 74 | 10 | 1.16 | 11.6 | Central | ||||||||
| – | 95 | 96 | 1 | 5.22 | 5.2 | Central | ||||||||
| KO-SOM-RC247 | No significant interval | Central | ||||||||||||
| KO-SOM-RC248 | No significant interval | Central | ||||||||||||
| KO-SOM-RC249 | No significant interval | Central | ||||||||||||
| KO-SOM-RC250 | No significant interval | Central | ||||||||||||
| KO-SOM-RC251 | No significant interval | Central N | ||||||||||||
| (1) Due to the exploratory nature of this programme the true width of the mineralisation has not been reported, the intersections presented herein may not represent the true width of mineralisation. | ||||||||||||||
| (2) Numbers in bold represent intervals greater than 30 grams/tonne x metres (25 g/t.m) | ||||||||||||||
| (3) “BOH” denotes that the hole began in mineralisation | ||||||||||||||
| (4) “EOH” denotes that the hole ended in mineralisation | ||||||||||||||
Table 1B: Kalanako Drilling (batch 3) – Select Composite Intervals
Includes intervals >5 g/t.m, cut-off of 0.65 g/t Au, maximum 3m of internal dilution, no assay are capped
| Drill Hole ID | From (m) |
To (m) |
Interval (m) |
Grade (g/t Au) |
Metal (g/t.m) |
Comment | Zone | |||||||
| KO-SOM-RC252 | No significant interval | Central N | ||||||||||||
| KO-SOM-RC253 | 59 | 74 | 15 | 22.57 | 338.6 | inc 2m@155.4g/t | Central N | |||||||
| KO-SOM-RC254 | 6 | 26 | 20 | 1.61 | 32.1 | inc 1m@12.1g/t | Central N | |||||||
| – | 51 | 62 | 11 | 1.82 | 20.0 | Central N | ||||||||
| KO-SOM-RC255 | 46 | 51 | 5 | 2.14 | 10.7 | Central N | ||||||||
| KO-SOM-RC256 | No significant interval | Central N | ||||||||||||
| KO-SOM-RC257 | 96 | 107 | 11 | 1.23 | 13.6 | Central N | ||||||||
| KO-SOM-RC258 | 45 | 56 | 11 | 1.11 | 12.2 | Central N | ||||||||
| KO-SOM-RC259 | No significant interval | Central N | ||||||||||||
| KO-SOM-RC260 | No significant interval | Central N | ||||||||||||
| KO-SOM-RC261 | 98 | 123 | 25 | 3.72 | 92.9 | inc 2m@30.7g/t | NW | |||||||
| KO-SOM-RC262 | 9 | 24 | 15 | 3.94 | 59.0 | inc 1m@12.4g/t | NW | |||||||
| – | 39 | 45 | 6 | 15.40 | 92.4 | inc 2m@38.0g/t | NW | |||||||
| KO-SOM-RC263 | 115 | 124 | 9 | 1.39 | 12.5 | NW | ||||||||
| KO-SOM-RC264 | 23 | 50 | 27 | 5.99 | 161.6 | inc 8m@15.6g/t | NW | |||||||
| KO-SOM-RC265 | 115 | 130 | 15 | 1.96 | 29.3 | inc 1m@13.4g/t | NW | |||||||
| KO-SOM-RC266 | No significant interval | NW | ||||||||||||
| KO-SOM-RC267 | No significant interval | NW | ||||||||||||
| KO-SOM-RC268 | No significant interval | NW | ||||||||||||
| KO-SOM-RC269 | 73 | 80 | 7 | 0.84 | 5.9 | South | ||||||||
| KO-SOM-RC270 | 20 | 25 | 5 | 4.74 | 23.7 | inc 1m@18.6g/t | South | |||||||
| KO-SOM-RC271 | No significant interval | South | ||||||||||||
| KO-SOM-RC272 | 35 | 60 | 25 | 1.13 | 28.3 | South | ||||||||
| KO-SOM-RC273 | No significant interval | South | ||||||||||||
| KO-SOM-RC274 | No significant interval | South | ||||||||||||
| KO-SOM-RC275 | No significant interval | SE | ||||||||||||
| KO-SOM-RC276 | No significant interval | SE | ||||||||||||
| KO-SOM-RC277 | No significant interval | SE | ||||||||||||
| KO-SOM-RC278 | No significant interval | SE | ||||||||||||
| KO-SOM-RC279 | No significant interval | SE | ||||||||||||
| KO-SOM-RC280 | No significant interval | SE | ||||||||||||
| KO-SOM-RC281 | No significant interval | SE | ||||||||||||
| KO-SOM-RC282 | 80 | 85 | 5 | 1.22 | 6.1 | SE | ||||||||
| KO-SOM-RC283 | No significant interval | SE | ||||||||||||
| KO-SOM-RC284 | No significant interval | SE | ||||||||||||
| KO-SOM-RC285 | No significant interval | SE | ||||||||||||
| (1) Due to the exploratory nature of this programme the true width of the mineralisation has not been reported, the intersections presented herein may not represent the true width of mineralisation. | ||||||||||||||
| (2) Numbers in bold represent intervals greater than 30 grams/tonne x metres (25 g/t.m) | ||||||||||||||
| (3) “BOH” denotes that the hole began in mineralisation | ||||||||||||||
| (4) “EOH” denotes that the hole ended in mineralisation | ||||||||||||||
Table 2A: Kalanako (batch 2) – Drill Hole Collar
| Hole ID | Easting (1) | Northing (1) | Length (m) | Dip (°) | Azimuth (°) | Type (2) | Line | |||||||
| KO-SOM-RC226 | 589714 | 1194950 | 67 | -55 | 265 | RCH | 4950 | |||||||
| KO-SOM-RC227 | 589754 | 1194950 | 75 | -55 | 265 | RCH | 4950 | |||||||
| KO-SOM-RC228 | 589779 | 1194904 | 103 | -55 | 265 | RCH | 4900 | |||||||
| KO-SOM-RC229 | 589825 | 1194950 | 145 | -55 | 265 | RCH | 4950 | |||||||
| KO-SOM-RC230 | 589949 | 1194925 | 130 | -55 | 265 | RCH | 4925 | |||||||
| KO-SOM-RC231 | 589923 | 1194925 | 97 | -55 | 265 | RCH | 4925 | |||||||
| KO-SOM-RC232 | 589900 | 1194932 | 140 | -55 | 263 | RCH | 4925 | |||||||
| KO-SOM-RC233 | 589874 | 1194934 | 115 | -55 | 260 | RCH | 4925 | |||||||
| KO-SOM-RC234 | 589847 | 1194931 | 135 | -55 | 263 | RCH | 4925 | |||||||
| KO-SOM-RC235 | 589833 | 1194933 | 115 | -55 | 265 | RCH | 4925 | |||||||
| KO-SOM-RC236 | 589699 | 1194975 | 78 | -55 | 265 | RCH | 4975 | |||||||
| KO-SOM-RC237 | 589650 | 1194975 | 145 | -55 | 265 | RCH | 4975 | |||||||
| KO-SOM-RC238 | 589624 | 1194975 | 105 | -55 | 265 | RCH | 4975 | |||||||
| KO-SOM-RC239 | 589599 | 1194988 | 60 | -55 | 244 | RCH | 5000 | |||||||
| KO-SOM-RC240 | 589579 | 1194999 | 93 | -55 | 265 | RCH | 5000 | |||||||
| KO-SOM-RC241 | 589626 | 1195025 | 99 | -55 | 265 | RCH | 5025 | |||||||
| KO-SOM-RC242 | 589599 | 1195024 | 160 | -55 | 265 | RCH | 5025 | |||||||
| KO-SOM-RC243 | 589574 | 1195025 | 120 | -55 | 265 | RCH | 5025 | |||||||
| KO-SOM-RC244 | 589549 | 1195025 | 81 | -55 | 265 | RCH | 5025 | |||||||
| KO-SOM-RC245 | 589524 | 1195024 | 50 | -55 | 265 | RCH | 5025 | |||||||
| KO-SOM-RC246 | 589550 | 1195049 | 117 | -55 | 265 | RCH | 5050 | |||||||
| KO-SOM-RC247 | 589524 | 1195077 | 130 | -55 | 265 | RCH | 5075 | |||||||
| KO-SOM-RC248 | 589502 | 1195081 | 93 | -55 | 265 | RCH | 5075 | |||||||
| KO-SOM-RC249 | 589499 | 1195082 | 63 | -51 | 265 | RCH | 5075 | |||||||
| KO-SOM-RC250 | 589485 | 1195049 | 69 | -55 | 265 | RCH | 5050 | |||||||
| KO-SOM-RC251 | 589433 | 1195049 | 91 | -55 | 265 | RCH | 5050 | |||||||
| (1) Collar coordinates in UTM Zone 29 WGS84 surveyed using a DGPS | ||||||||||||||
| (2) RCH = reverse circulation drill hole | ||||||||||||||
Table 2B: Kalanako (batch 3) – Drill Hole Collar
| Hole ID | Easting (1) | Northing (1) | Length (m) | Dip (°) | Azimuth (°) | Type (2) | Line | |||||||
| KO-SOM-RC252 | 589450 | 1195074 | 129 | -55 | 265 | RCH | 5075 | |||||||
| KO-SOM-RC253 | 589421 | 1195073 | 111 | -55 | 265 | RCH | 5075 | |||||||
| KO-SOM-RC254 | 589399 | 1195075 | 91 | -59 | 265 | RCH | 5075 | |||||||
| KO-SOM-RC255 | 589349 | 1195125 | 103 | -55 | 265 | RCH | 5125 | |||||||
| KO-SOM-RC256 | 589329 | 1195150 | 81 | -59 | 265 | RCH | 5150 | |||||||
| KO-SOM-RC257 | 589348 | 1195175 | 117 | -55 | 265 | RCH | 5175 | |||||||
| KO-SOM-RC258 | 589298 | 1195175 | 69 | -55 | 265 | RCH | 5175 | |||||||
| KO-SOM-RC259 | 589254 | 1195175 | 105 | -55 | 265 | RCH | 5175 | |||||||
| KO-SOM-RC260 | 589231 | 1195176 | 111 | -55 | 265 | RCH | 5175 | |||||||
| KO-SOM-RC261 | 589225 | 1195225 | 175 | -55 | 265 | RCH | 5225 | |||||||
| KO-SOM-RC262 | 589174 | 1195225 | 105 | -55 | 265 | RCH | 5225 | |||||||
| KO-SOM-RC263 | 589175 | 1195275 | 165 | -55 | 265 | RCH | 5275 | |||||||
| KO-SOM-RC264 | 589124 | 1195275 | 105 | -55 | 265 | RCH | 5275 | |||||||
| KO-SOM-RC265 | 589114 | 1195325 | 141 | -55 | 265 | RCH | 5325 | |||||||
| KO-SOM-RC266 | 589073 | 1195325 | 105 | -55 | 265 | RCH | 5325 | |||||||
| KO-SOM-RC267 | 589035 | 1195376 | 105 | -55 | 265 | RCH | 5375 | |||||||
| KO-SOM-RC268 | 589010 | 1195373 | 81 | -55 | 265 | RCH | 5375 | |||||||
| KO-SOM-RC269 | 589750 | 1194825 | 111 | -55 | 265 | RCH | 4825 | |||||||
| KO-SOM-RC270 | 589725 | 1194825 | 75 | -55 | 265 | RCH | 4825 | |||||||
| KO-SOM-RC271 | 589790 | 1194775 | 105 | -55 | 265 | RCH | 4775 | |||||||
| KO-SOM-RC272 | 589764 | 1194775 | 91 | -55 | 265 | RCH | 4775 | |||||||
| KO-SOM-RC273 | 589824 | 1194725 | 126 | -55 | 265 | RCH | 4725 | |||||||
| KO-SOM-RC274 | 589849 | 1194701 | 129 | -55 | 265 | RCH | 4700 | |||||||
| KO-SOM-RC275 | 590218 | 1194675 | 159 | -55 | 265 | RCH | 4675 | |||||||
| KO-SOM-RC276 | 590193 | 1194675 | 138 | -55 | 265 | RCH | 4675 | |||||||
| KO-SOM-RC277 | 590174 | 1194724 | 105 | -55 | 265 | RCH | 4725 | |||||||
| KO-SOM-RC278 | 590148 | 1194728 | 135 | -55 | 265 | RCH | 4725 | |||||||
| KO-SOM-RC279 | 590099 | 1194725 | 75 | -55 | 265 | RCH | 4725 | |||||||
| KO-SOM-RC280 | 590074 | 1194750 | 93 | -55 | 265 | RCH | 4750 | |||||||
| KO-SOM-RC281 | 589805 | 1194975 | 75 | -55 | 265 | RCH | 4975 | |||||||
| KO-SOM-RC282 | 589829 | 1194975 | 111 | -55 | 265 | RCH | 4975 | |||||||
| KO-SOM-RC283 | 589855 | 1194975 | 146 | -55 | 265 | RCH | 4975 | |||||||
| KO-SOM-RC284 | 589904 | 1194975 | 147 | -55 | 265 | RCH | 4975 | |||||||
| KO-SOM-RC285 | 589775 | 1195000 | 51 | -55 | 265 | RCH | 5000 | |||||||
| (1) Collar coordinates in UTM Zone 29 WGS84 surveyed using a DGPS | ||||||||||||||
| (2) RCH = reverse circulation drill hole | ||||||||||||||
To view Figure 1A: Kalanako mineralisations, 2016 campaign and batch 2 significant intercepts (>5g/t.m), please visit the following link: http://media3.marketwire.com/docs/1088302_Fig1A.pdf
To view Figure 1B: Kalanako mineralisations, 2016 campaign and batch 2 significant intercepts (>5g/t.m), please visit the following link: http://media3.marketwire.com/docs/1088302_Fig1B.pdf
To view Figure 2: Kalanako mineralisations, drilling pattern, maiden resource pit shells and Historical Traditional mining footprint, please visit the following link: http://media3.marketwire.com/docs/1088302_Fig2.pdf
To view Figure 3: Induced Polarisation (IP) gradient map highlighting the structural location of the Kalanako prospect and the area drilled to date, please visit the following link: http://media3.marketwire.com/docs/1088302_Fig3.pdf
Howard Miller
Chairman and CEO
+44 207 589 9082 or UK Mobile: +44 7768 696129
Canadian Mobile: +1 (416) 726 8174
howard@hbmiller.co.uk
Avnel Gold Mining Limited
Ian McDonald
Vice-President, Corporate Development
+1 647 407 2515
imcdonald@avnelgold.com
www.avnelgold.com