Welcome To The Avion Resources Corp HUB On AGORACOM
Avion 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.
Message: Tabakoto Mill Restarted
| February 19, 2009 |
| Tabakoto Mill Restarted |
| TORONTO, ONTARIO--(Marketwire - Feb. 19, 2009) - NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES Avion Resources Corp. (TSX VENTURE:AVR) ("Avion" or the "Company") is pleased to announce that both the mill and crusher at the Company's Tabakoto project in Mali, West Africa, were restarted on February 17, 2009. The first material to be processed through the mill will be the run of mine stockpile, followed by the processing of ore from the Company's Segala project. In addition, Avion is pleased to announce that the Company is on schedule to meet its targeted 2009 production of 66,000 ounces of gold. Other highlights include: - key contracts in place - key staff hired - planned plant refurbishments completed - Segala Pit pre-development underway - Haul road to Segala near completion - Development of a plan for production of 66,000 ounces gold in 2009, with 1,100 ounces planned in February, and up to 4,200 ounces planned in March In making this announcement, John Begeman, President and CEO of Avion, stated, "The successful restart of the crusher and mill is a testament to the abilities and commitment of Avion's technical team. We look forward to delivering on the previously announced mine plan and steady state production from the newly developed Segala Pit." As previously announced on February 9, 2009, Avion has also recently signed a letter of agreement to acquire all of the outstanding common shares of Dynamite Resources (TSX VENTURE:DNR) in exchange for common shares of Avion. Upon completion of the transaction, the combined company will have approximately CAD $13 million in cash and cash equivalents, as well as full ownership of the Segala and Tabakoto projects, subject to the Government of Mali's 20% interest. The transaction will also allow Avion to take advantage of the substantial exploration opportunities on its property and possible expansion of production capability. Andrew Bradfield, P.Eng., the Chief Operating Officer of the Company and a qualified person under National Instrument 43-101, has reviewed the scientific and technical information in this press release. Avion has not completed a feasibility study on the Mali gold projects and there is no certainty the proposed operations will be economically viable. Mineral resources that are not mineral reserves do not have demonstrated economic viability. About Avion Resources Corp. Avion is a Canadian-based gold company focused in West Africa. The Company holds 80% of the Tabakoto and Segala gold projects in Mali (assuming completion of the Dynamite acquisition). Gold production at these projects has commenced, with approximately 66,000 ounces of production forecast for 2009 rising to almost 100,000 ounces by 2011. Avion has a highly skilled management team, with a focus on growth and consolidation within West Africa. |
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