Avion Gold Corporation (TSX VENTURE:AVR)(OTCQX:AVGCF) ("Avion" or the "Company") announces third quarter 2010 production of approximately 23,609 ounces of gold from its Tabakoto/Segala operations in Mali, West Africa.
This is an 89% increase in gold production over the third quarter of 2009, when 12,517 ounces of gold was produced, and a 6% increase in production over Q2 2010 where 22,222 ounces of gold was produced. Year to date gold production for 2010 is 61,540 ounces.
In September 2010, Avion processed 61,450 tonnes of ore at an average grade of 3.98 g/t Au, with a 97.2% mill recovery, for gold production of 7,603 ounces. During the third quarter of 2010 the Company milled 178,800 tonnes of ore at an average grade of 4.28 g/t Au, with a 96.2% mill recovery, compared to third quarter of 2009 production of 125,100 tonnes of ore processed at an average grade of 3.25 g/t Au, with a 95.5% mill recovery.
Commenting on the production results, Mr. Andrew Bradfield, Avion's Chief Operating Officer, stated: "Avion has produced over 21,000 ounces of gold per quarter since the beginning of the fourth quarter of 2009, with the exception of the first quarter of 2010. Consistent operational results are being achieved, and the Company is well on track to produce its target of between 75,000 and 85,000 ounces of gold in 2010. Avion is optimistic that it will produce at least 20,000 ounces in Q4 this year."
Substantial advancement was achieved during the third quarter towards the Company's plan to begin underground development at the Tabakoto deposit, and to double its process plant capacity. Avion's underground mine contractor is on site and detailed design work for the plant upgrade is in progress. These projects continued on schedule according to Avion's goal of achieving an annual run rate of 200,000 ounces of gold in 2012.
Avion plans to release its unaudited Q3 Financial Results on November 24, 2010. Management will also host a conference call for investors following public release of the results.
Source: Avion Gold Corporation