LONDON, United Kingdom, March 26 /CNW Telbec/ - Avnel Gold Mining Limited
(TSX: AVK) Avnel has commenced a drilling program at its Fougadian Permit,
located south of its Kalana Mine in Mali. During 2007 detailed soil
geochemical surveys, initiated across its large Fougadian Exploration Permit
has outlined several km-scale, gold-in-soil anomalies with coincident arsenic
The drill targets have been selected under the supervision of Dr Andy
Killick, VP Exploration, based upon the geochemical anomalies, regolith
mapping and re-interpretation of existing geophysical data.
The program for 2008 comprises the drilling of 5,000 metres of RC
(reverse circulation percussion) drilling and 400 m of diamond drilling. The
drill program will focus on the Avnel-1 anomaly. A drill contractor commenced
work in mid March 2008 and results are expected in quarter 3 2008.
The Avnel-1 anomaly is the largest and the most important in terms of
gold and arsenic values. It extends for almost 4 kilometres in a N-S direction
and for 1.5 kilometres in an E-W direction. The highest gold-in-soil values of
the Avnel-1 anomaly show a preferential NNW-SSE orientation and they are
contained in three parallel linear bands. The same preferential direction can
be seen in the coincident high arsenic values. The Avnel-1 anomaly is also
characterised by a cluster of potassium anomalies over an area 2 km long by
1.5 km wide.
The Fougadian Permit was awarded to Avnel Mali, a 100% owned subsidiary
of Avnel Gold Mining Ltd. Avnel has a 90% interest and the Malian State a 10%
interest in the permit. The Fougadian Exploration Permit, which covers
150 square kilometres, was awarded to Avnel in 2006 in accordance with the
1999 Mining Code. It is located in southern Mali, immediately south of Avnel's
producing Kalana Mine and Exploitation Permit.
Avnel has identified 10 drill targets on its 387 sq.km Kalana Permit and
has discovered high grade mineralization at the Djirila prospect in the
south-east of the Kalana Permit. The very prospective Kalana Permit is held by
Avnel for a 30 year period that started in 2003. For this reason drilling
prior to the annual rainy season will focus on Fougadian Permit.
Avnel's principal asset is an 80-per-cent interest in Société
d'Exploitation des Mines de Kalana (SOMIKA). SOMIKA is the holder of an
exploitation permit encompassing 387.4 square kilometers around the Kalana
gold mine in southern Mali. The Malian government holds the remaining 20 per
cent in SOMIKA. The Kalana Mine is an operating mine with a Mineral Reserve of
662,000 tonnes at 16.0g/t containing 341,000 ounces.
Caution Regarding Forward Looking Statements:
Statements regarding the corporation's plans with respect to the Kalana
Mine and exploration of the Kalana Permit are forward-looking statements.
There can be no assurance that the planned ongoing development of the Kalana
Gold Mine will be completed as forecast or that the exploration program on the
Kalana Permit will identify minerals resources.
For further information:
For further information: Roy Meade, Chief Executive Officer, +44 207 589
9082, Fax +44 207 589 8507, firstname.lastname@example.org; www.avnelgold.com; Renmark
Financial Communications Inc.: Barry Mire: email@example.com; Maurice
Dagenais: firstname.lastname@example.org, (514) 939-3989, Fax (514) 939-8507,