22nd Nov 2006 07:00
Avocet Mining PLC22 November 2006 Avocet Mining PLC AVOCET RECEIVES FURTHER SIGNIFICANT TRENCH ASSAYS FROM ITS SOUTH SULAWESI PROJECT Avocet Mining PLC ("Avocet" or "the Company") is pleased to announce furtherpositive trenching results from the Mangkaluku prospect in South Sulawesi,Indonesia. The South Sulawesi project is a grass roots exploration initiativedesigned to identify drilling targets within a known belt of orogenic goldmineralisation. Avocet has continued trenching at the Mangkaluku project to infill and extendthe gold mineralised trench exposures announced on 30 August 2006. Table 1summarises the latest significant trench intersections from the currentprogramme. The highlights are 36.0m @ 5.40 g/t Au (including 3.0m @ 34.1 g/tAu), 13.4m @ 10.7 g/t Au (incl. 5.1m @ 18.9 g/t Au), 5.0m @ 16.2 g/t Au (incl.2.0m @ 37.2 g/t Au), 3.0m @ 39.5 g/t Au, 9.0m @ 6.36 g/t Au and 16.5m @ 3.44 g/tAu. This work has confirmed the presence of three zones of sheeted veining hosted bya phyllic-altered, metamorphosed, monzodiorite intrusion. The most significantzones strike ENE over a distance of 600 metres with widths of up to 200 metres;and NNE over a length of 500 metres with widths of up to 100 metres. Recentexploration suggests that the vein zones extend outside the current projectarea. Trench locations are laid out in the figure that can be found in theannouncement on the Company's website. All trench samples are chipped channelswith every effort made to collect an even sample across the strike of the veinsets. All of the trenches, except MLT046, are cut in a NW-SE direction to cutacross the mineralised vein sets. MLT046 was cut in an ENE direction along aridge for logistical reasons, but is still roughly perpendicular to the localvein trend. The Company has finished the trenching programmes and is preparing for aninitial scout drilling programme across these mineralised structures in 2007.Avocet is currently finalising agreements to control the ground through theKuasa Pertambangan (KP) tenement structure which would replace the current SIPPpermit (Surat Ijin Penyelidikan Pendahuluan) which acts as a preliminaryinvestigation permit. Jonathan Henry, Chief Executive Officer, commented: "Our Mangkaluku project, with its consistent high-grades over significant widthsproven by an extensive trenching programme, has become a very exciting goldprospect with tremendous potential. Should these results be reflected indrilling early next year, Mangkaluku will accelerate along our pipeline ofprojects toward pre-feasibility and add to our portfolio of high value projectsin Indonesia. This comes on the back of the success we are enjoying elsewhere inSulawesi where we are currently developing our second gold mine at Bakan". All references to resources and exploration results have been approved forrelease by Mr Peter Flindell, BSc (Hons) MAusIMM, Chief Geologist for Avocet,who has more than 20 years experience in the field of activity concerned and isa Competent Person as defined by the JORC Code (2004). He has consented to theinclusion of the material in the form and context in which it appears. ________________________________________________________________________________ For further information please contact:Avocet Mining PLC Buchanan CommunicationsJonathan Henry (Chief Executive) Bobby Morse, Director020 7907 9000 Ben Willey, Associate Directorwww.avocet.co.uk Tel: 020 7466 5000 www.buchanan.uk.com Notes to Editors Avocet is a mining company listed on the AIM market of the London Stock Exchange(Ticker: AVM). The Company's principal activities are gold mining andexploration in Malaysia (as 100% owner of the Penjom mine, the country's largestgold producer), Tajikistan (as 75% owner and operator of ZGC, Tajikistan'sprincipal gold mine), and Indonesia (as 80% owner of the North Lanut gold minein North Sulawesi). The Company has a number of advanced mining and explorationprojects in Asia and owns 26% of Dynasty Gold Corporation, a Canadian listedexploration company active in Western China. Table 1 Trench East North RL Trend Dip Length From To Interval Grade CommentsID (m) (m) (m) (degs) (degs) (m) (m) (m) (m) (g/t Au) MLT038 181905 9665707 295 98 7 23.2 1.4 4.4 3.0 2.21 7.4 10.7 3.3 3.89MLT039 182130 9665945 271 69 2 36.0 0.0 36.0 36.0 5.40 incl. 3m @ 34.1 g/t Au from 18mMLT040 182151 9666119 299 155 3 302.1 0.0 2.0 2.0 5.72 46.3 52.3 6.0 3.54 58.3 64.3 6.0 0.89 74.0 77.1 3.1 7.81 94.7 97.7 3.0 0.72 118.8 121.3 2.5 6.20 124.3 127.3 3.0 6.08 130.3 139.3 9.0 6.36 incl. 3m @ 10.6 g/t Au from 133.3m 171.3 176.1 4.8 1.85 199.6 202.6 3.0 0.65 258.1 260.3 2.2 0.65MLT041 181604 9666199 339 152 -24 88.4 30.6 47.1 16.5 3.44 60.1 68.7 8.6 2.81 71.5 83.7 12.2 0.91MLT042 181910 9666034 285 183 30 25.2 22.1 25.2 3.1 2.65MLT043 181930 9666088 288 144 14 10.7 0.0 3.2 3.2 2.21 8.0 10.7 2.7 2.96MLT045 181735 9666407 311 290 -16 151.3 9.5 20.9 11.4 4.32 32.8 35.8 3.0 2.29 41.4 44.4 3.0 0.52MLT046 181927 9666332 323 57 -20 75.6 6.0 9.0 3.0 39.5 12.0 19.0 7.0 5.00 incl. 2m @ 13.9 g/t Au from 14m 22.0 25.0 3.0 4.07 30.9 33.9 3.0 1.16 39.8 44.8 5.0 16.2 incl. 2m @ 37.2 g/t Au from 42.8m 50.8 53.9 3.1 22.3 62.1 75.5 13.4 10.7 incl. 5.1m @ 18.9 g/t Au from 62.1mMLT049 181563 9666060 317 326 -5 24.7 2.5 4.7 2.2 11.8 Note:Individual gold assays have a top cut of 100 g/t Au for intercept calculations.Intercepts are reported above a lower cut-off of 0.5 g/t Au and include a maximum of 2m of internal waste"Collar" positions represent the start of each trenchThe trend/dip direction is main trend/dip of each trench, which are themselves of variable strike and dip This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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