Avion Reports Another Record Quarter of Gold Production, With 32,140 Ounces in the Third Quarter of 2012
09 October 2012 - 10:00PM
Marketwired
Avion Gold Corporation (TSX:AVR)(OTCQX:AVGCF) ("Avion" or the
"Company") is pleased to announce record third quarter 2012
production of approximately 32,137 ounces of gold from its Tabakoto
operation in Mali, West Africa. The Company's production has
increased in each quarter this year, and has set three consecutive
records for the amount of gold produced in one quarter. Year to
date gold production is now 87,030 ounces after refinery
adjustments. Avion's management anticipates that it will exceed its
current production guidance of 95,000 to 102,000 ounces of gold for
2012.
During the third quarter of 2012 the Company milled 198,400
tonnes of ore at an average grade of 5.39 g/t Au, with a 93.9% mill
recovery.
Avion's Chief Operating Officer, Mr. Andrew Bradfield, commented
on the third quarter 2012: "The Tabakoto Mine is demonstrating its
potential to produce gold on a consistent basis, and is projected
to produce in excess of 100,000 ounces of gold this year."
Andrew Bradfield, P.Eng., the Chief Operating Officer of the
Company, and a qualified person under National Instrument 43-101,
has reviewed and approved the scientific and technical information
in this press release.
About Avion Gold Corporation
Avion is a Canadian-based gold mining company focused in West
Africa that holds 80% of the Tabakoto and Segala gold projects in
Mali. Gold production commenced at these projects in 2009 with
approximately 51,290 ounces produced. 2010 production was 87,630
ounces of gold. 2011 production was 91,200 ounces of gold. The
current mineral reserve estimate (as of January 1, 2012) of 6.91
million tonnes grading 3.73 g/t Au totaling 827,100 ounces of gold
(proven and probable), for the Tabakoto project property,
demonstrates several sources of excellent grade open pit and good
grade underground mineral resources thus providing significant
flexibility for Avion's future mining plans. The Company has
developed an underground mine at the Tabakoto deposit, and is
developing another underground mine at the Segala deposit. The
Tabakoto project property also contains several producing open pit
mines. Production sustainability will continue to be supported by
exploration programs over an approximately 600 km2 exploration
package that both surrounds and is near to the Company's existing
mine infrastructure, and contains mineral resources on the Kofi
property. Additionally, mineral resources have grown considerably
at Avion's 1,600 km2 Hounde exploration property in Burkina Faso.
Avion has a highly skilled management team, with a focus on growth
within West Africa.
Cautionary Notes
This press release contains "forward-looking information" within
the meaning of applicable Canadian securities legislation. Except
for statements of historical fact, certain information contained
herein constitutes forward-looking statements which include
statements regarding production estimates for 2012, management's
assessment of Avion's targeted production, future plans, operations
and mineral resource estimates and are based on Avion's current
internal expectations, estimates, projections, assumptions and
beliefs, which may prove to be incorrect. Generally,
forward-looking information can be identified by the use of
forward-looking terminology such as "plans", "expects" or "does not
expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or state that
certain actions, events or results "may", "could", "would", "might"
or "will be taken", "occur" or "be achieved". Forward-looking
information is subject to known and unknown risks, uncertainties
and other factors that may cause the actual results, level of
activity, performance or achievements of the Company to be
materially different from those expressed or implied by such
forward-looking information, including but not limited to those
risks described in the annual information form of the Company which
is available under the profile of the Company on SEDAR at
www.sedar.com. Although the Company has attempted to identify
important factors that could cause actual results to differ
materially from those contained in forward-looking information,
there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that
such information 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 information. The Company does not
undertake to update any forward-looking information, except in
accordance with applicable securities laws.
Contacts: Avion Gold Corporation Michael McAllister Manager,
Investor Relations (416) 309-2134info@aviongoldcorp.com
www.aviongoldcorp.com Facebook: aviongoldcorp Twitter:
@aviongoldavr
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