Avocet receives significant drilling results from North Lanut gold mine

London Stock Exchange-listed mining firm Avocet Mining PLC announced on Tuesday positive results from recent infill drilling at the Riska pit and nearby Effendi deposit at the North Lanut gold mine in North Sulawesi.

The drill programme was aimed at upgrading Inferred Resources to Measured and Indicated status and evaluating areas not extensively drilled in the past, with the immediate goal of expanding reserves and extending the mine life.

The company reported significant drilling intersections from the infill programme, including 53m @ 8.04 g/t Au (RSP277) and 119m @ 3.74 g/t Au (RSP274) at Riska and 111m @ 3.56 g/t Au (EFP295) and 25m @ 9.06 g/t Au (EFP315) at Effendi.

?These drilling results will allow us to extend the mine life at North Lanut. This, combined with the ongoing feasibility work and further drilling at the nearby Bakan project and the recently acquired Banda exploration portfolio, give Avocet an excellent platform for further organic growth in the South East Asia region and more particularly in Indonesia, ? Jonathan Henry, Chief Executive Officer, commented.

The Company is currently refining the geological models in light of these new drilling results and will produce revised resource models in the coming months. A revised reserve will be defined before the end of the year. (alex)