Avocet says drill results confirm resource potential at N. Sulawesi prospect

London-based miner Avocet Mining PLC said Wednesday it had recently completed a 27-hole resource-definition diamond drilling program with total of 3,511.2 meters at Durian prospect of Bakan district in its 80 percent-owned Mongondow Contract of Work (CoW) in North Sulawesi.

?This programme has confirmed continuous, oxidised, highsulphidation epithermal mineralization over a minimum strike length of 600 meters, width of 100-150 meters and depth of up to 150 meters from surface,? Avocet said in a statement.

Avocet said the style of mineralisation at Durian is similar to that at the Riska deposit, currently being mined at the North Lanut gold mine of the CoW. Metallurgical test work is underway to confirm preliminary results.

Avocet added that drilling rigs are currently undertaking a similar first-phase, resource definition program at the nearby Osela prospect and it expected to be completed by the end of May. Meanwhile, the second-phase will follow in the second half of 2006.

The North Lanut mine, which is commenced production last April, produced around 40,817 ounces of gold in 2005. (Robert)