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Avion Gold Reports New Drilling Results from Tabakoto Project

Avion Gold Corporation (TSX VENTURE:AVR)(OTCQX:AVGCF) has announced new drill results for 16 holes that tested the Tabakoto Pit area cross structures and for 6 holes that tested the Dioulafoundou zone.

These drill holes combine a mix of in-fill and step-outs on the mineralized zones down plunge and along strike. These results continue to build confidence in Avion's 2011 mine plan.

Significant intercepts include the following:

  • 10.05 g/t Au over 3.7 metres
  • 56.08 g/t Au over 11.4 metres (includes 1508.07 g/t Au over 0.4 metres)
  • 7.31 g/t Au over 6.5 metres
  • 5.29 g/t Au over 12.4 metres
  • 11.35 g/t Au over 2.5 metres
  • 6.21 g/t Au over 8.4 metres
  • 9.40 g/t Au over 5.1 metres
  • 18.52 g/t Au over 5.6 metres
  • 9.51 g/t Au over 3.5 metres
  • 34.52 g/t Au over 3.7 metres
  • 13.57 g/t Au over 7.4 metres
  • 10.48 g/t Au over 5.4 metres
  • 6.70 g/t Au over 4.5 metres

Avion has continued with a program designed to increase the confidence levels in the modeled gold zones and to extend the known Tabakoto pit and Dioulafoundou zones down plunge and, to a lesser extent, along strike. Avion continues to intersect additional zones of gold mineralization that are not part of the modeled zones in the upcoming resource update. These new intercepts will be modeled and added to the overall resources when sufficient information has been acquired.

John Begeman, Avion's President and CEO, stated: "Avion's underground development is progressing toward the high grade zones under the Tabakoto Pit with an excess of 400 metres of development completed to date. We are eagerly looking forward to our first look at these zones at depth and the first development ore from these zones is expected in late Q1, 2011. "

In 2010 Avion has completed over 436 core and reverse circulation drill holes totaling approximately 56,000 metres of drilling, at the Tabakoto property. This work has focused predominantly on the Dioulafoundou, Tabakoto, Djambaye II and Ségala areas. In total, in all properties, Avion has completed approximately 68,500 metres of drilling in 504 holes. Drilling is currently being carried out with one drill each on the Tabakoto (Mali) and Houndé (Burkina Faso) properties. Drilling will cease in mid-December to allow time to review results and plan for the 2011 drill program with a planned re-start in February.

Avion continues to work toward a year-end resource update with the majority of the deposit modeling completed. This resource update will include most mineralized zones on the Tabakoto Project which includes the Tabakoto, Segala and Great Quest properties. It is anticipated that the overall mineral resources will reduce somewhat from the historic estimates but will demonstrate higher grades in-line with plans to develop the Segala and Tabakoto deposits from underground.

Avion's procedures for handling core have been presented in previous news releases (See Avion News Release dated May 13, 2010). Assays have been capped at 32 g/t at Tabakoto and to 50 g/t Au at Dioulafoundou.

Don Dudek, P.Geo., the Senior Vice President, Exploration of the Company and a qualified person under National Instrument 43-101, has reviewed the scientific and technical information in this press release.

Source: Avion Gold Corporation

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