Avocet completes gold resources review at Durian, Osela deposits

UK-based Avocet Mining plc reported Friday it had completed a review of the gold resources contained within the Durian and Osela deposits of the Bakan district in North Sulawesi province.

Avocet said the review resulted in preliminary inferred resource of 18.2 million tons averaging 0.9 g/t Au and containing 533,000 ounces of gold for Durian and Osela using a cut-off grade of 0.3 g/t Au, the economic ore cut-off grade currently used at North Lanut.

The Bakan district is approximately 25km west of Avocet?s North Lanut mining operation and is the main new initiative in the Mongondow Contract of Work, in which Avocet holds an 80 percent interest.

The table below summarizes the distribution of resources by deposit. The total resource represents a preliminary estimate of the gold resource within two of the deposits in the district.

Deposit	Tonnes (millions)	Grade (g/t Au)	Gold Ounces	Attributable Ounces (1)
Durian	13.4	0.8	335,000	266,000
Osela	4.8	1.3	198,000	158,400
Total	18.2	0.9	533,000	426,400
(1) The Company owns 80% of PT Avocet Bolaang Mongondow, the operator of the CoW

Avocet is targeting measured, indicated and inferred resources of at least 500,000 ounces in the Bakan district by 2007 and a new mine by 2008. (Robert)