Avanti Mining Inc. (TSX-V: AVT; OTC: AVMNF) announced today that it has received assays from the next 12 holes of its 2011 drill program at the Kitsault Mine molybdenum project located in northwest British Colombia. This release includes the results for five holes drilled south of Patsy Creek at the Kitsault Mine and seven holes drilled at the Roundy Creek prospect located about 4 km west of the Kitsault Mine on Avanti’s land holdings. The Company is awaiting the results for the remaining seven holes at Kitsault and five holes at Roundy Creek that should be completed and released by the end of November.
Avanti Intersects 85.4 Meters Averaging 0.378% Molybdenum at Roundy Creek Prospect on the Kitsault Mine PropertyNovember 16, 2011
Avanti Mining (OTC Other: AVNMF; TSX-V: AVT) has appointed Shane Uren, President of Greenwood Environmental, to the position of VP Environmental and Permitting. Shane is a Registered Professional Biologist in British Columbia with a Masters in Civil Engineering from the University of British Columbia. Mr. Uren has considerable experience in the management of environmental assessments of mining projects in British Columbia, Canada and oversees; including BHP Billiton’s Ekati Diamond Mine, Cambior’s Rosebel Mine, Inco Ltd.’s Goro Project, Novagold’s Galore Creek Project, Thompson Creek Metal’s Davidson Project and is currently engaged with Copper Fox Metals on their Schaft Creek Mine Project environmental assessment.
Robert Blair resigned his position as VP Exploration effective October 31, 2011.
Avanti Mining Inc. (OTC Other: AVNMF; TSX-V: AVT) announced this morning that it has received approval for the Application Information Requirements (AIR) of its Environmental Assessment (EA) for the Kitsault Mine Project in northern BC. This document meets the requirements of the British Columbia Environmental Assesment Act and the Canadian Environmental Assessment Act. The AIR specifies the information that must be contained in the EA Application for the Environmental Certificate and is valid for a period of three years from its approval date of October 6, 2011.
Commenting in the release, Mr. Craig J. Nelsen, President and CEO stated: “Approval of the AIR is a significant milestone within the Environmental Assessment process. With its acceptance, all the information needed in the EA Application is specified. Avanti and its consultants have been collecting and analyzing new environmental baseline information, as well as over twenty years of previous operators environmental and reclamation information to inform this application. The EA Application is substantially complete and we hope to submit it for screening review to the regulators during the current quarter.”
Avanti Mining Inc. (OTC Other: AVNMF and TSX-V: AVT) announced today that it has received assays from the next 14 holes of its 2011 drill program at the Kitsault Mine molybdenum project located in northwest British Colombia. The drilling program has been completed and totaled 32 holes for 9,989 meters at the Kitsault deposit, 11 condemnation holes total 558 meters around Kitsault and 26 holes totaling 2,803 meters at Roundy Creek for a total of 12,350 meters. Including the holes released in this press release, approximately 50% of the results are still in process. Results previously released on August 25, 2011 for the first six holes are restated in the table below after an error was discovered. This results in a moderate downgrade of several of these holes.
Avanti Mining Inc. (TSX-V: AVT and OTC Other: AOVTF) announced today that it has received assays from the next 10 holes of its 2011 drill program at the Kitsault Mine molybdenum project located in northwest British Colombia. Four of these holes were drilled into the northwest portion of the Kitsault mine project where previous drilling had not completely defined the extent and quality of mineralization and six are from the Roundy Creek prospect located approximately 4 km west of the Kitsault mine.
- Hole K11-13 intersected 395.1 meters averaging 0.088% molybdenum and 3.8 g/t silver while bottoming in mineralization — one of the best holes drilled at Kitsault and extended the zone to the north and depth.
- Hole K11-14 intersected 122.3 meters averaging 0.081% molybdenum and 3.5 g/t Ag while bottoming in mineralizatio
Avanti Mining (OTC Other: AVNMF; TSX-V: AVT) has received assays from the first 10 holes of its 2011 drill program at the Kitsault Mine molybdenum project located in northwest British Colombia. All of these holes were drilled into the northwest portion of the project where previous drilling had not completely defined the extent and quality of mineralization.
Drill highlights include:
- Hole K11-01 intersected 252 meters averaging 0.077% molybdenum and 3.2 g/t silver
- Hole K11-02 intersected 213 meters averaging 0.082% molybdenum and 4.7 g/t silver
- Hole K11-03 intersected 138 meters averaging 0.087% molybdenum and 1.8 g/t silver
- Hole K11-04 intersected 135 meters averaging 0.076% molybdenum and 5.6 g/t silver
- Hole K11-05 intersected 99 meters averaging 0.107% molybdenum and 2.9 g/t silver
- Hole K11-06 intersected 174 meters averaging 0.075% molybdenum and 6.4 g/t silver
- Hole K11-08 intersected 294.3 meters averaging 0.074% molybdenum and 4.9 g/t silver while bottoming in ore
- Hole K11-09 intersected 156 meters averaging 0.068% molybdenum and 3.5 g/t silver
- Hole K11-10 intersected 141 meters averaging 0.087% molybdenum and 3.6 g/t silver
Avanti Mining (OTC Other: AVNMF; TSX-V: AVT) has amended the existing letter of intent with SeAH Holdings to add Korea Resources Corporation (“KORES”) on the same terms as SeAH. The LOI with SeAH and KORES has been extended to July 31, 2011 to allow KORES time to complete its due diligence review and approval process. The LOI is non-binding. Any transaction is subject to conditions including the negotiation and execution of definitive agreements and board approvals from the respective parties. There can be no assurance any transaction will be completed.