Gold

The setting of Avana’s Kenyan assets is the Proterozoic Lake Victoria Goldfield (within the eastern Congo Craton) of which the Kenyan section has been the least explored part of the goldfield – though Avana is now producing gold. Historically goldmines have operated in the area. The area is typical granite-greenstone terrain on the Tanzanian craton and is similar in age and style to Zimbabwe where over 6,000 gold discoveries were made over the past 150 years with some 20 mines with resources of over 1 million ounces.

CIP Plant and Identified Ores

Avana operates a carbon-in-pulp (CIP) gold processing plant on its mining license located in Sirongo, Siaya County, Kenya. The CIP pilot plant, which has a design capacity of 12 tonnes of ore per hour is producing doré gold, on average 80% pure from the ore that Avana is recovering on its concession. The design capacity of the plant is to produce 10 kg gold or over 320 ounces gold per month).

Avana’s Kenya licenses include a range of gold-bearing ores. The vast majority is vein quartz. In addition there are colonial era tailings and colonial era waste sulphides.

Avana intends to install additional processing units at its Sirongo site to triple he capacity to process of ore and produce gold doré by a factor of three.

Gold Appraisal and Exploration

Avana has completed initial soil sampling, trenching, bulk sampling, spectral surveys using satellite imageries and laboratory analysis programs and continues with such exploration activities. It has completed a 25 line km Induced Polarization (IP) survey (inclusive of limited 3D dipole-dipole set up at 2 of the 35 highly anomalous targets identified) over a large part of the Serawongo exploration permit. A further 4 anomalies are identified as high priority targets and 5 being medium priority targets. This survey of the concession has confirmed the Avana team’s initial assessment of gold prospectivity pointing to the presence of several gold deposits in the order of 250,000 oz each 

With the support of the IP survey, Avana has defined drill targets for its forthcoming 800m drill program which will help direct the Avana team in terms of its hard rock targets and allow for the preparation of a resource statement as part of a CPR (competent person’s report) being put together by EY.