Friday, 1st February 2008 (2273 views)

Avion Resources has completed a deal for the undivided interest in the exploration licenses for two properties in Ethiopia.

The first property covers approximately 2,674 sq km in the northern state of Tigray, while second is located in the western region of Asosa and covers 1,766 sq km.

Both properties lie within the metal-rich Nubian-Arabian Greenstone mineral belt, which has contains over 60 "massive" sulphide zones and numerous gold deposits, the company said.

Avion Resources chief executive, Rene Bharti, said the Ethiopian properties offer "significant potential" for development.

"Phase I of the exploration program has yielded promising results and we are excited about concluding phase II and the start of a drill program in the near future," he commented.

Avion said the ongoing second phase includes structural and geological mapping of the properties, extensive sampling and targeted prospecting.

Ethiopia is located in the region known as the Horn of Africa in the continent's north east. It shares its borders with Sudan, Eritrea, Djiboutie, Somalia and Kenya in the south.

 

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