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Wednesday, 25th October 2006 (3340 views)

Avocet Mining has just announced that its gold resource in Malaysia is to see much growth.

The Penjom gold mine is Malaysia's largest gold producer and lies in the state of Pahang in the centre of Peninsula Malaysia.

Production commenced in 1996 and revised resources are said to be at an historical high in excess of one million ounces of gold because the company has changed its resource model.

Jonathon Henry, chief executive at Avocet, said: "Penjom continues to exceed our expectations. The resource at Penjom has grown more than 100 per cent over the last four years."

He added that he anticipates further drilling will continue to add value and that the company is looking forward to announcing a revised and extended mine life from the most recent phase of drilling.

The resource has expanded in the Manik-Janik area of south Kalampong pit and an open pit optimisation review is currently underway which will review perimeters and costs.

Reserves should be reported by December 2006.

 

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