Avocet Mining reports "encouraging" initial results from Souma test work

12th Jun 2015 09:45

Avocet Mining shareholders welcomed an "encouraging" first set of results from the company's drilling campaign at Souma in West Africa.The programme of test work, which began in April, will determine to what extent Souma could provide satellite ore feed to its 90%-owned Inata Gold Mine, or whether the mine would be more suited to a low cost standalone heap leach operation.The firm hopes to upgrade the existing resource of 0.68m in order to generate a maiden ore reserve."These encouraging results are from an area towards the north of the Souma trend known as Dynamite [...] and are expected to contribute to the programme's objectives of increasing confidence in the existing orebody and growing the resources," Avocet said.Shares had climbed 9.19% to 5.05p by 10:17.