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Koulekoun Project
Koulekoun
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Guinea
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ADVANCED DISCOVERY
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Risk and valuation analysis of the Koulekoun Project
Status Risk : Advanced discovery
Country Risk : Moderate
Resource Risk : 39.00%
In situ value
868,810,238 $
Title(s) of the Koulekoun Project
Avocet Mining PLC
Option on interest: 100%
Title
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The 270km2 Koulekoun Exploration License is held 95% by Wega Mining Guinée SA, which is 95 % held by Wega Mining ASA. Wega Mining Guinée SA has the option to purchase the remaining 5%.
Location of the Koulekoun Project
The licence surface measures 196 square kilometers, South of the local centre Mandiana, and 45km North-East of Kankan.
Geology of the Koulekoun Project
A drill indicated resource of 150,000 ounces has been reported, based on 2.8 million tonnes of ore at 1.7g/t from a drill program performed by a local operator but supervised by Pierre Lalande. The best holes showed 12.4g/t over 22m, 5.3g/t over 7m, 25.6 g/t over 3m and 2.1g/t over 11m.
Reserves and resources of the Koulekoun Project
Tonnage
Grade
Reserves and resources
Gold
Gold
g/t
oz
Indicated
12,690,000
1.55
632 389
Mesured and Indicated
12,690,000
1.55
632 389
Inferred
720,000
1.48
34 260
Total
13 410 000
666 649
Definitions
Reserves and resources of the Koulekoun Project
Metal
Total
Reserves
Resources
Unit
In situ value
Proven
Probable
Proven and Probable
Measured
Indicated
Mesured and Indicated
Inferred
Gold
666 649
632 389
632 389
34 260
oz
868 976 900 US$
Exploration and drilling
4/7/2008
HIGHER GOLD GRADES FROM KOULEKOUN IN GUINEA
Discoveries and Drilling Results
8/21/2008
629 000 OUNCE GOLD RESOURCE DOCUMENTED AT KOULEKOUN
5/19/2008
NEW PROMISING RESULTS FROM KOULEKOUN, GUINEA
Data last updated on : 4/14/2009
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Cautionary Note to US Investors concerning estimates of Measured and Indicated Mineral Resources
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