Avnel Gold Mining Ltd.

Published : March 26th, 2008

has commenced drilling program on the major gold anomaly discovered on the Fougadian Permit

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Keywords :   Diamond | Gold | Gold Mine | London | Mali | United Kingdom |

Avnel has commenced drilling program on the major gold anomaly discovered on the Fougadian Permit

London, United Kingdom - March 26, 2008 - Avnel Gold Mining Limited (TSX: AVK) - Avnel has commenced a drilling program at its Fougadian Permit, located south of its Kalana Mine in Mali. During 2007 detailed soil geochemical surveys, initiated across its large Fougadian Exploration Permit has outlined several km-scale, gold-in-soil anomalies with coincident arsenic anomalies.

The drill targets have been selected under the supervision of Dr Andy Killick, VP Exploration, based upon the geochemical anomalies, regolith mapping and re-interpretation of existing geophysical data.

The program for 2008 comprises the drilling of 5,000 metres of RC (reverse circulation percussion) drilling and 400m of Diamond drilling. The drill program will focus on the Avnel-1 anomaly. A drill contractor commenced work in mid March 2008 and results are expected in quarter 3 2008.

The Avnel-1 anomaly is the largest and the most im portant in terms of gold and arsenic values. It extends for almost 4 kilometres in a N-S direction and for 1.5 kilometres in an E-W direction. The highest gold-in-soil values of the Avnel-1 anomaly show a preferential NNW-SSE orientation and they are contained in three parallel linear bands. The same preferential direction can be seen in the coincident high arsenic values. The Avnel-1 anomaly is also characterised by a cluster of  potassium anomalies  over an area 2km long by 1.5km wide.

The Fougadian Permit was awarded to Avnel Mali, a 100% owned subsidiary of Avnel Gold Mining Ltd. Avnel has a 90% interest and the Malian State a 10% interest in the permit. The Fougadian Exploration Permit, which covers 150 square kilometres, was awarded to Avnel in 2006 in accordance with the 1999 Mining Code. It is located in southern Mali, immediately south of Avnel's producing Kalana Mine and Exploitation Permit.

Avnel has identified 10 drill targets o n its 387 sq.km Kalana Permit and has discovered high grade mineralization at the Djirila prospect in the south-east of the Kalana Permit. The very prospective Kalana Permit is held by Avnel for a 30 year period that started in 2003. For this reason drilling prior to the annual rainy season will focus on Fougadian Permit.

Avnel's principal asset is an 80-per-cent interest in Soci�t� d'Exploitation des Mines de Kalana (SOMIKA). SOMIKA is the holder of an exploitation permit encompassing 387.4 square kilometers around the Kalana gold mine in southern Mali. The Malian government holds the remaining 20 per cent in SOMIKA. The Kalana Mine is an operating mine with a Mineral Reserve of 662,000 tonnes at 16.0g/t containing 341,000 ounces.

For further information contact:
 
Roy Meade
Chief Executive Officer
Phone +44 207 589 9082; Fax +44 207 589 8507
Email: rmeade@avnelgold.com
Websit e: www.avnelgold.com 

Renmark Financial Communications Inc.
Barry Mire : bmire@renmarkfinancial.com
Maurice Dagenais : mdagenais@renmarkfinancial.com
Tel : +1 514 939 3989
Fax +1 514 939 8507
Website:  www.renmarkfinancial.com

Caution Regarding Forward Looking Statements:

STATEMENTS REGARDING THE CORPORATION'S PLANS WITH RESPECT TO THE KALANA MINE AND EXPLORATION OF THE KALANA PERMIT ARE FORWARD-LOOKING STATEMENTS. THERE CAN BE NO ASSURANCE THAT THE PLANNED ONGOING DEVELOPMENT OF THE KALANA GOLD MINE WILL BE COMPLETED AS FORECAST OR THAT THE EXPLORATION PROGRAM ON THE KALANA PERMIT WILL IDENTIFY MINERALS RESOURCES.

Data and Statistics for these countries : Mali | United Kingdom | All
Gold and Silver Prices for these countries : Mali | United Kingdom | All

Avnel Gold Mining Ltd.

EXPLORATION STAGE
CODE : AVK.TO
ISIN : GB00B09Y5410
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Avnel Gold Mining is a gold producing company based in United kingdom.

Its main exploration properties are KALANA GOLD MINE and FOUGADIAN PERMIT in Mali.

Avnel Gold Mining is listed in Canada. Its market capitalisation is CA$ 162.1 millions as of today (US$ 133.0 millions, € 111.4 millions).

Its stock quote reached its highest recent level on December 13, 2006 at CA$ 1.25, and its lowest recent point on December 19, 2008 at CA$ 0.02.

Avnel Gold Mining has 376 989 984 shares outstanding.

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Annual reports of Avnel Gold Mining Ltd.
Announces 2007 Annual Results - Period Ended December 31, 20...
Nominations of Avnel Gold Mining Ltd.
11/25/2013appoints Dr. Olivier Féménias as Vice President Geology
5/23/2013announces election of directors
8/5/2008Announces Appointment of Chief Financial Officer
3/27/2008Announces Appointment of Chief Operating Officer
10/16/2007Announces Appointment of VP Exploration
Financials of Avnel Gold Mining Ltd.
8/14/2008Announces Second Quarter 2008 Results
5/15/2008Announces First Quarter 2008 Results - Period ended March 31...
11/14/2007Announces Third Quarter 2007 Results
8/13/2007Announces Second Quarter 2007 Results - Period ended June 30...
5/14/2007Announces First Quarter 2007 Results
Project news of Avnel Gold Mining Ltd.
3/24/2014Avnel Announces new mineral resource estimate preliminary ec...
1/21/2011(Kalana Gold Mine)- KALANA UPDATE
3/26/2008(Fougadian Permit) has commenced drilling program on the major gold anomaly di...
Corporate news of Avnel Gold Mining Ltd.
5/26/2016Avnel Reports Results of Annual General Meeting
5/11/2016Avnel Reports Files First Quarter 2016 Financial Statements ...
5/6/2016Avnel Gold Files NI 43-101 Technical Report for the Kalana M...
3/30/2016Avnel Announces Definitive Feasibility Study Results for Kal...
3/30/2016Avnel Announces Filing of AIF and Year-End Consolidated Fina...
10/5/2015Avnel Reports That Measured Plus Indicated Resource Increase...
9/15/2015Avnel Successfully Concludes its 30,143 m Over 181 Holes Dri...
8/12/2015Avnel Reports Second Quarter 2015 Financial Results
7/20/2015Avnel Drills 174.0 g/t over 3 m, 6.0 g/t over 15 m, and 7.8 ...
7/16/2015Avnel Drills 174.0 g/t over 3 m, 6.0 g/t over 15 m, and 7.8 ...
4/17/2015Avnel Gold Mining Limited Announces C$12 Million Bought Deal...
4/17/2015IIROC Trade Resumption - CWT.UN; AVK
4/16/2015IIROC Trading Halt - AVK
3/31/2015Avnel Confirms Commencement of Drilling at Kalana Main and A...
3/30/2015Avnel Appoints Mr. Andrew King and Mr. Keith McCandlish to t...
3/26/2015Avnel Reports that Diluted Pit-Constrained Indicated Resourc...
3/26/2015Reports That Diluted Pit-Constrained Indicated Resources Inc...
2/5/2015Avnel Gold Announces Commencement of Definitive Feasibility ...
11/13/2014Avnel Gold Provides Kalana Main PFS Update and Reports Third...
11/13/2014Avnel Gold Provides Kalana Main PFS Update and Reports Third...
10/30/2014TSX Delisting Review - Avnel Gold Mining Limited (Symbol: AV...
10/15/2014Avnel Gold Reports that Indicated Resources Increased 55% to...
7/17/2014Avnel Announces Closing of Approximately C$9.9 Million Priva...
7/7/2014TSX Delisting Review - Avnel Gold Mining Limited (Symbol: AV...
6/26/2014Avnel Announces Proposed Private Placement of up to C$13.5 M...
5/23/2014Avnel Gold Announces 2014 AGM Results
5/14/2014Avnel Gold Mining Limited (AVK: TSX) announces first quarter...
4/1/2014Avnel Gold Mining (TSX:AVK) Files NI 43-101 Technical Report...
3/31/2014Avnel Gold Mining Limited (AVK: TSX) Announces 2013 Annual R...
3/24/2014Announces New Mineral Resource Estimate and Preliminary Econ...
3/24/2014Avnel Announces New Mineral Resource Estimate and Preliminar...
10/16/20072007 Toronto Resource Investment Conference
10/15/2007 Receives Recommendations for Extensive Drill Program to Inv...
9/17/2007Announces Strategic Review
7/18/2007Announces Exceptional Soil Geochemistry Results at its Fouga...
4/2/2007Production at the Kalana Gold mine increases
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