Canadian miner Avion Gold Corp said it found high-grade intercepts at the Djambaye II zone in the Tabakoto project in Mali.
The West Africa-focused company, which holds 80 percent of the Tabakoto and Segala gold projects in Mali, said the opportunity exists to more than double the open pit reserves in and near the Djambaye II zone through additional drilling.
The intercepts were of 7.56 gram per tonne (g/t) of gold over 7 metres and 26.39 g/t gold over 3 metres, the company said.
Drilling results from the Djambaye II zone showed that the gold grades, in the central core of the zone, were, on average, higher than the rest of the deposit, the company said in a statement.
Gold production at the Tabakoto and Segala projects started in 2009, with production of about 51,290 ounces. In 2010, 87,630 ounces of gold were produced, the company said.
"The Djambaye II zone is unique in the Tabakoto project area in that it represents the longest continually mineralized structure on the property," said Don Dudek, senior vice president, exploration.
Avion Gold shares closed at C$2.00 on Friday on the Toronto Stock Exchange.