LONGUEUIL, QUEBEC — (Marketwire) — 03/25/13 — Avala Resources Ltd. (TSX VENTURE: AVZ) (the „Company“ or „Avala“) is pleased to present drill results from the Korkan infill drilling program, part of the Timok Gold Project.
Korkan Infill Drilling Program
The Company has established a fully equipped, -state of the art- laboratory facility at Bor, Eastern Serbia which is independently managed by SGS. Diamond drill core and RC samples have been prepared and assayed at the SGS-managed laboratory facility at Bor. A one metre sampling interval has been used where possible for the Sediment-Hosted Gold project diamond drilling program. Half core is routinely submitted to the laboratory for analysis. Reverse circulation drill samples, collected using a routine one meter sampling interval, have been prepared and assayed at the laboratory facility at Bor. Following Avala standard quality assurance procedures, a full suite of field and laboratory duplicates and replicates along with internationally accredited standards and blanks, have been submitted with each batch of samples.
All data collected in the field was routinely entered into geology and structural geology spread sheets using Field Marshal software for subsequent entry to an acQuire database and validation.
Dr Julian F. H. Barnes, a qualified person under National Instrument 43-101, a Director and the Company-s Special Consultant, has supervised the preparation of the technical data in this press release.
About Avala Resources Ltd.: Avala Resources is a mineral exploration company focused on the exploration and development of the Timok Gold Project in Eastern Serbia. Avala has recently announced a NI 43-101 compliant resource estimates on the three principal targets of its Timok Gold Project. Avala controls 100% of this newly identified sediment-hosted gold belt, which totals approximately 1,200 square kilometers. The common shares of Avala trade on the TSX Venture Exchange under the symbol -AVZ-. Avala-s issued and outstanding share capital totals 254,492,223 common shares, of which approximately 53.1% is held by Dundee Precious Metals Inc. (TSX: DPM). Avala is well-capitalized, with approximately $9 million in its treasury at January 31, 2013, which it plans to use for the exploration and development of its mineral projects in Serbia.
Cautionary Statement
This press release contains -forward-looking information- within the meaning of applicable Canadian securities legislation. Forward looking information in this news release includes information with respect to the plans to complete an updated NI 43-101 compliant mineral resources, the timing and location of future work programs, the results and interpretation of studies and exploration activities, the nature of the mineralization of the project, and the potential size of the sediment-hosted gold system.
Forward-looking information is based on reasonable assumptions that have been made by the Company as at the date of the information and is subject to known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those anticipated in the forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be factors that cause results to be other than as anticipated, estimated or intended. There can be no assurance that the forward looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information contained herein, except in accordance with applicable securities laws.
Figures 1 to 3 and Table 1 are available at the following link:
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Contacts: Avala Resources Ltd. James Crombie, President and Chief Executive Officer +1.450.640.0810
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