Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
TORONTO, ONTARIO–(Marketwire – Oct. 11, 2011) – Avion Gold Corporation (TSX:AVR)(OTCQX:AVGCF) (“Avion” or the ‘Company’) is pleased to announce the results from 45 drill holes totaling 9,367 metres completed over the Kofi Project during the third quarter of 2011. Drilling was focused in and proximal to the Kofi C zone which contains an historic National Instrument 43-101 (“NI 43-101”) estimated indicated mineral resource of 873,000 tonnes grading 3.6 g/t Au totaling 99,000 ounces of gold and an inferred mineral resource of 913,000 tonnes at 3.7 g/t Au totaling 109,000 ounces gold (Roberts1, 2008, NI 43-101 compliant resource report, available under the SEDAR profile of AXMIN Inc.). Note that a qualified person has not carried out the work required to classify the historical estimate as current mineral resources for Avion and therefore Avion is not treating the historical estimate as current mineral resources. Avion intends to update the resources for the Kofi project in late Q4, 2011.
